Newspatrolling.com News cum Content Syndication Portal Online
The regulatory nod allows Even to move beyond group insurance, sell retail policies independently and enable policy portability while integrating its full-stack healthcare model at scale.
Bengaluru, 6 May 2026: Even Healthcare, India’s pioneering integrated Healthcare provider has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to offer retail health insurance products, enabling the company to sell policies directly to individuals and families and allowing customers to port their existing health insurance policies to Even.
The regulatory nod marks a significant shift for Even Healthcare. The company’s insurance offerings have until now primarily operated through group insurance products. With the approval, Even Healthcare can now enter India’s growing retail health insurance market and integrate its first-of-a-kind managed care delivery model with individual insurance plans.
Even Healthcare currently serves over 2 lakh members and has expanded its presence to 10 cities, recording 3X growth over the past two years. The company’s model combines insurance coverage with integrated healthcare services including doctor consultations, care coordination, preventive support, and cashless hospitalization. With the launch of retail insurance products, these services will now be embedded into individual health plans.
Commenting on the milestone, Mayank Banerjee, Co-founder, Even Healthcare said “Receiving approval from the Insurance Regulatory and Development Authority of India (IRDAI) to offer retail health insurance is a defining milestone for Even. This allows us to bring our integrated healthcare model directly to individuals and families and move beyond traditional insurance that focuses only on hospitalization. Our goal is to build a system where insurance and healthcare delivery work together to improve clinical outcomes.”
The approval also enables policy portability, allowing customers to switch their existing health insurance policies to Even while retaining accumulated benefits such as waiting period continuity, in accordance with regulatory guidelines. This ensures consumers have greater flexibility to transition to Even’s healthcare ecosystem without losing coverage benefits. With entry into retail distribution, Even Healthcare expects retail policies to contribute significantly to the business over the next year. Through this development, Even Healthcare aims to strengthen its footprint in Bengaluru.
India’s health insurance sector continues to expand, with the market estimated at around ₹1.2-1.3 lakh crore and projected to grow at nearly 20% annually, according to market research by Grand View Research. At the same time, out-of-pocket expenditure still accounts for about 42% of total healthcare spending in India, as per the National Health Accounts Estimates released by the Government of India, highlighting the need for more accessible and comprehensive insurance solutions.
