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The company is the largest private health insurer and largest retail health insurance company in India, according to CRISIL Research, and had GWP of ₹93,489.50 million in FY21.
Their comprehensive health insurance product suite insured 20.5 million lives in Fiscal 2021 in retail health and group health.
The products target a variety of customer segments, including individuals, families, students, senior citizens, as well as persons with pre-existing medical conditions across the broader middle market customer segment.
Offer a range of flexible and comprehensive coverage options primarily for retail health, group health, personal accident and overseas travel, which accounted for 87.9%, 10.5%, 1.6% and 0.01%, respectively, of the total GWP (Gross Written Premium) in FY21.
Have integrated platforms such as a new customer relationship management (""CRM"") program, agent application STAR ATOM, which allows agents to process proposals and issue receipts using their smart phone tablets etc.
To reduce the costs associated with claims, the company engages with customers through an in-house tele-medicine service, TALK TO STAR, which provides customers with access to experienced doctors that can give second opinions over the internet.
Financial condition and results of operations could be negatively affected by relying on any incorrect, misleading or incomplete information sourced from customers, intermediaries or counterparties.
Health insurance business is exposed to the risk of catastrophes such as a pandemics or other catastrophic events that cause a large number of hospitalizations. Neither the likelihood, timing nor the severity of a future pandemic or catastrophe can be predicted.
Healthcare spends in India and comparison to other global markets : According to the Global Health Expenditure Database compiled by the WHO, India's current expenditure on healthcare was 3.5% of gross domestic product (GDP) in 2018. India trails behind the world average of 9.8%.
Impact of COVID-19 pandemic on health insurance industry: Demand for term insurance and health insurance industry has historically increased during pandemics, even if income growth and savings had come under pressure. . In the Indian market, for example, the Indian regulator, IRDAI, has instructed insurance companies to cover COVID-19 related claims under the existing active policies. Health insurance gross direct premium increased by ~16% in fiscal 2021.
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Go to the IPO section, select the IPO you want to apply from the list and click on ‘Apply’.
Fill in the quantity of the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.
Click on proceed to confirm the order. You can view the placed order under “order book”.
Choose the IPO you want to apply from the list. Click on Apply.
Fill in the quantity of shares. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.
Check the A/C, UPI details and click on proceed. You will get an UPI link by which payment can be made.
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