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Business EconomyPosted at: Apr 3 2024 6:12PM


PhonePe partners with Star Health to offer Insurance to customers

Hyderabd, Apr 3 (UNI) PhonePe on Wednesday announced a partnership with Star Health and Allied Insurance Company Limited. (Star Health Insurance), India’s largest retail health insurance Company, to offer customers health insurance with a monthly and annual payment option.
With this partnership, PhonePe users will now be able to avail of ‘Star Comprehensive Insurance Policy’ on the PhonePe app with coverage up to Rs.1 Crore, the company said in a release.
Through this partnership, for the first time, Star Health Insurance’s Comprehensive Health Insurance will be offered to customers with a monthly premium payment plan, pioneered by PhonePe – a first-of-its-kind initiative in the industry.
Users can also opt to pay their premium with the UPI AutoPay mandate.
Star Comprehensive Insurance Policy is a power-packed insurance plan with benefits including the most popular OPD and maternity coverage.

Star Comprehensive Health Insurance Policy is an end-to-end health insurance policy with sum insured available up to Rs.1 crore. The policy covers road ambulance and air ambulance expenses, out-patient medical consultation up to the limits, out-patient coverage for dental and Ophthalmic treatment, delivery expenses, organ donor expenses, provides coverage for newborn babies, including any congenital disorders, from day one of birth and vaccination expenses of the new born until the baby completes one year.
The policy does not impose sub-limits for day care procedures. Accidental death and permanent total disablement is covered up to 1 crore, the release said.
Star Comprehensive Health Insurance Policy also offers wellness programmes that provide discounts on premiums and condition management programmes.
The policy provides an annual health check-up, automatic restoration of the sum insured up to 100%, and a cumulative bonus, payable up to 100% of the basic sum insured.
Speaking on the partnership, Vishal Gupta, CEO of PhonePe Insurance said “Star’s differentiated benefits combined with PhonePe’s distribution, customer centric approach and simple DIY journeys will help turbocharge insurance adoption and penetration in the country".
Speaking on the partnership, Anand Roy, Managing Director and CEO of Star Health Insurance, said, "The partnership between Star Health Insurance and PhonePe will provide consumers with a hassle-free payment option that is light on the pocket and at the same time meets their wellness needs.
Today, health insurance has become a necessity. Given the high medical inflation in the country, it has become crucial to have an all-inclusive health cover that can protect at every stage of an individual’s life.Customers buying our policies will not just get insurance but will also have access to free tele consultations, homecare, and nutritionists, among other services.
We look forward to expanding our digital reach through this partnership,” Roy said.
Star Health, in association with PhonePe, plans to roll out more such innovative offerings across its indemnity and benefit products.
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