Star Health soars by partnering with Community Service Centers

Star Health and Allied Insurance Company jumped 4.13% to Rs 575.20 after the company announced a partnership with the Common Service Centers (CSC), under the Ministry of Electronics and Information Technology.

The Common Service Centers (CSC) is one of the mission mode projects under the Digital India Programme. CSCs offer assisted access to essential government and public services, welfare schemes, financial services and healthcare courses, education and skills development, in addition to a host of B2C services. There are more than 5 lakh CSCs operating across the country as government and public service delivery points for the rural population in rural, semi-urban and urban areas.

The insurance company will provide more than 5 lakh CSCs with access to a select range of Star Health insurance products, specially tailored to meet the needs of rural customers, in Tier II, Tier III cities and rural markets in India.

The CSCs will provide a host of special features to rural customers, including a large range of e-services through a single delivery platform, localized help desk support, and VLE sustainability through a delivery operation model. maximum commissions.

A self-sustaining network of more than 5 lakh CSCs in gram panchayats that are run by village-level entrepreneurs (VLEs) will enable easy access to last-mile health insurance products.

Through its network, CSC will offer a number of beneficial products for rural markets, such as the optima family health insurance plan, the individual accidental care policy, star micro rural and farmer care, and other similar products to meet the health insurance needs in these regions.

Anand Roy, CEO of Star Health and Allied Insurance Co., said: “As health insurance specialists, we have always been at the forefront of identifying opportunities and designing health insurance products that benefit the masses.

This alliance with CSC is a major step forward in our effort to provide easy access and more choice of health insurance products that meet the specific needs of people in rural India. CSC’s strong network and presence throughout India makes them an ideal distribution partner for this initiative.

This union is a step towards increasing the penetration of health insurance in rural India. At the same time, the additional distribution network will help Star Health expand its market share and strengthen its presence across the country.

Star Health and Allied Insurance Company has business interests in health, personal accident and foreign travel insurance and offers health insurance products to individuals, families and businesses, directly and through various channels: agents, brokers, online and digital channels. . He is also a leading bancassurance player with a long relationship with several banks.

The company had reported a net loss of Rs 82.04 crore against a net loss of Rs 956.92 crore in the fourth quarter of FY22 over the fourth quarter of FY21. Total revenue grew by 256, 2% YoY to Rs 2,802.18 crore during the quarter.

On the BSE, 78,562 shares have been traded over the counter so far, compared to average daily volumes of 52,641 shares over the past two weeks. The stock hit a high of Rs 578.65 and a low of Rs 555 so far on the day.

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(This story has not been edited by Business Standard staff and is automatically generated from a syndicated feed.)

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