Star Health Targets Rs 24,000 Crore GWP for FY27

Star Health Targets Rs 24,000 Crore GWP for FY27

Star Health and Allied Insurance Company Ltd recently announced its growth targets for the upcoming fiscal year. Managing Director Anand Roy announced a target of Rs 24,000 crore for FY27. This goal follows a successful FY26, where the insurer recorded Rs 20,400 crore in premium. Furthermore, the company continues to refine its Star Health insurance plans for patients across the country, ensuring that general practice and primary healthcare remain accessible to all segments of society.

Strategic Expansion of Star Health Insurance Plans

To drive this growth, the company will launch two affordable products this year. These plans will specifically target tier 2 and tier 3 cities in India. Currently, the insurer offers 35 distinct products for various segments of society. Additionally, Roy stated that expanding into smaller towns and villages is crucial for the FY28 target.

Regional Growth and Market Presence

Performance in Andhra Pradesh and Telangana remains a significant driver for success. In fact, these two states contribute approximately 10 per cent of the overall business. Regional premium grew to Rs 2,268 crore in FY26, showing 17 per cent growth. Similarly, the number of policies in the region rose significantly last year.

Claims Settlement and Hospital Partnerships

Nationally, the company settled claims worth Rs 11,903 crore in FY26. Since its inception, the insurer has settled more than Rs 67,800 crore in total. Notably, the retail claims settlement ratio stands at 92 per cent. The company processes 84 per cent of its claims through cashless settlements. Additionally, improved hospital partnerships are central to the company’s future strategy. The company processes 92 per cent of cashless claims within three hours. Consequently, these operational efficiencies, much like the precision required in emergency medicine, will support the goal of making insurance accessible.

Frequently Asked Questions

Q1: What is the Gross Written Premium target for Star Health in FY27?

Star Health aims to achieve a Gross Written Premium (GWP) of Rs 24,000 crore in the FY27 fiscal year.

Q2: How does the company plan to expand into tier 2 and tier 3 cities?

The company will launch two new affordable insurance plans specifically designed for smaller towns and villages.

Q3: What is the current cashless claim processing time for the insurer?

Star Health currently processes 92 per cent of its cashless claims within a timeframe of three hours.

References

1. Star Health aims Gross Written Premium of Rs 24,000 crore in FY27: MD – ETHealthworld
2. Star Health settles Rs 1,254 cr claims in AP, TG in FY26 – Metro India
3. Star Health Eyes ₹24,000 Cr GWP by Targeting Tier 2/3 Cities – Whalesbook

Disclaimer: This article was automatically generated from publicly available sources and is provided for informational and educational purposes only. OC Academy does not exercise editorial control or claim authorship over this content. It is not a substitute for professional medical advice, diagnosis, or treatment. Always consult a qualified healthcare provider and refer to current local and national clinical guidelines.