Star Health and Allied Insurance, a prominent player in India’s health insurance sector, has forged a strategic alliance with PayNearby, a leading branchless banking and digital network. The collaboration aims to revolutionize the accessibility and affordability of health insurance coverage, particularly in the country’s semi-urban and rural areas. Leveraging PayNearby’s expansive Distribution-as-a-Service (DaaS) network, encompassing over a million active outlets, Star Health’s specialized insurance products will be made available at local retail establishments.
The innovative initiative focuses on providing a cost-effective and easily reachable health insurance solution for India’s semi-urban and rural communities. Customers can now conveniently purchase customized insurance products at nearby retail stores, guided by their trusted local retailers. PayNearby’s robust DaaS network, covering more than 22,000 PIN Codes, ensures a seamless experience for customers accessing a range of innovative health insurance products from Star Health, including Group Personal Accident and HospiCash policies. Retailers partnered with PayNearby will facilitate the purchasing process, ensuring immediate and hassle-free policy issuance. Star Health’s streamlined claims process, coupled with additional offerings such as free telemedicine consultations, personalized wellness programs, and annual health checkups, aims to elevate the overall insurance experience.
Anand Kumar Bajaj, Founder, MD & CEO of PayNearby, emphasized the pressing need to simplify health insurance services for the masses. The collaboration with Star Health is geared towards leveraging technology to democratize insurance products and distribution, making quality health coverage more economical and universally accessible. The partnership also includes Health Correspondents, who will play a crucial role in spreading health insurance awareness and ensuring coverage for the underserved population in Bharat.
Chitti Babu, Chief Innovation Officer at Star Health and Allied Insurance, underscored the belief that health insurance has evolved into a basic necessity. The collaboration with PayNearby, with its substantial presence in rural and non-metro regions, aims to offer bite-sized health insurance solutions to all, significantly contributing to the insurance coverage of underserved populations in Bharat.
