Ø New branch offices in Srinagar, Udhampur, Doda, Rajouri, Samba
Ø Targets Premium growth of 30% from the region in FY22-2023
Ø Plans to increase agent strength to 10,000 in the region by the end FY 23-24
India, 30 August, 2022: Star Health and Allied Insurance Co. Ltd., one of the leading standalone health insurance companies in the country, announced the expansion of its business and customer service in Jammu and Kashmir with 5 new branches in the region. The company targets a 30% growth in gross written premium from the union territory by the end of the current financial year (FY) 2022-23.
Star Health plans to set up 5 new branch offices in Srinagar, Udhampur, Doda, Rajouri, and Samba respectively. The new zonal office will support the existing major branches located in Jammu, Kathua and Pathankot. These offices will be further supplemented by around 10 one man offices in all district headquarters across Jammu and Kashmir.
In Jammu & Kashmir, Star Health has issued more than 25,000 policies from all channels in FY 2021-22. Star Health is expecting to achieve a growth of 30% to 35% in new policy sales from the region in FY 2022-23.
Commenting on the expansion, Himanshu Walia, Executive Director – Sales and Marketing at Star Health and Allied Insurance Co. Ltd., said, “We at Star Health are excited to announce our business expansion in Jammu and Kashmir. This is another step in our endeavour to ensure that every citizen has easy access to health insurance. We believe that today health insurance is a basic need like food, clothing and shelter. Our expansion in J&K will not only increase insurance penetration here but also provide quality customer services and generate employment in the region.”
The expansion will provide employment directly and indirectly across the region. Star Health currently has a presence of nearly 3000 agents in the J&K region. The company plans to double this to 6000 personnel by the end of the current financial year and to 10,000 agents by end of FY 2023-24. The company plans to have more than 200 employees in its J&K offices by end of FY 24.
Customers from the J&K region can avail of all products available with Star Health. Cashless treatment can be accessed at any of the 32 network hospitals in the region and more than 13000 hospitals nationwide. The company will continue to increase its network hospital footprint in Jammu and Kashmir to include all leading and popular healthcare facilities across the region.