Star is the largest standalone health insurer. It has an excellent distribution network and a large hospital network of 11,778 hospitals. The network of 460,000 agents accounted for 79 percent of gross written premium (GWP) in 2020-21. The agent network is three times as large as the next-largest standalone health insurer. All claims processing is in-house, which means lower expenses.
Star holds a 15.8 percent market share in the health segment, with a GWP of Rs 9,349 crore in 2020-21 and a GWP of Rs 5,070 crore in the first half of 2021-22. The product suite insured 20.5 million in FY21. Retail health and group health, accounted for 89.3 percent and 10.7 percent respectively, of health GWP in FY21. In retail, Star’s market share was 31 percent (ex-travel) and the CAGR for retail was 33 percent over the past three financial years.
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