By Pinkerala News Desk | Nov 16, 2023

Star Health and Allied Insurance pays Rs.22 crores towards claims settlements in Kottayam

• Star Health paid Rs.19 crore in cashless claim settlement in Kottayam
• Claims amounting to Rs.22 crores were paid by the insurer between January 2023- September 2023

Kottayam, November 13, 2023: Star Health and Allied Insurance, India’s leading standalone health insurer, announced that it has cleared claims worth over Rs.22 crores in Kottayam during the past 9 months, i.e., between January 2023- September 2023. The company paid Rs.21 crore in claim settlements to network hospitals and Rs.1 crores in claim settlement to non-network hospitals in the region.

Star Health paid Rs.19 crores in cashless claim settlement and Rs.3 crore in reimbursement claim settlements in Kottayam. Keeping its commitment to its customers, the company settled all cashless claims within 2 hours. In most cases, the initial authorization for cashless treatment was given within 2 hours. The company has endeavoured to make the payments of reimbursement claims within 7 days of claim submission ensuring that customers do not face hassles in settlement even through the reimbursement route.

During the 9 months from January 2023 to September 2023, most claims in Kottayam were for surgical treatments amounting to Rs.13 crore in claims pay-out. Medical treatments amounted to Rs.9 crore in claims settlements. Of the total claims paid, over Rs.10 crore was paid towards claims made by women and Rs.12 crore was paid towards claims made by men in Kottayam. 

Sharing his insights, Mr. Sanath Kumar K, Chief Claims Officer, Star Health and Allied Insurance Co. Ltd. said, "We are happy to say that at Kottayam, Star Health has been quick to settle claims and approve cashless treatments. We are committed to our customer in the region and have constantly strived to provide the best experience possible for them, be it through our innovative products designed to address all the health cover needs of our customers or via our claims management. We continue to strengthen our hospital network in the city to make it easier for customers to gain access to cashless treatments at a hospital close to their residence.”

Studying and analysing claims it receives, Star Health Insurance has identified a significant challenge in insurance awareness - a lack of understanding among policyholders about their insurance coverage, its benefits and policy terms. The company believes that these challenges underscore its ongoing struggle to create greater health insurance policy awareness across India. 

With increased policy awareness, customers can reap benefits like the 24x7 telemedicine facility, wellness programs that help customers stay healthy thereby reducing chances of hospitalization, free annual health check-ups and much more. All these facilities can be accessed from any region in the country through the Star Health App. The app also provides access to doctor consultations through video conferencing for better diagnosis and interactions. 

The Star Health App can be downloaded from the Play Store for Android and the App Store of iOS.

About Star Health Insurance: 

Star Health and Allied Insurance Co Ltd (BSE:543412 | NSE:STARHEALTH) commenced its operations in 2006 as India’s first Standalone Health Insurance Company with business interests in Health, Personal Accident and Overseas Travel Insurance. The company uses its vast resources to focus on service excellence and product innovation to deliver the best to its customers. Star Health has been providing innovative health insurance products to individuals, families and corporates, directly and through various channels – agents, brokers, online and digital channels like web aggregators, fintech, etc. Star Health is also a prominent Bancassurance player with long standing relationship with various banks. 

As of 31^st March 2023, Star Health had 835 branch offices spread across 25 states and 5 union territories in India. The company had 14,203 network hospitals pan India.  In FY23, Star Health had a gross written premium of Rs. 12,952 croreand a net worth of Rs. 5,430 crore. 

Star Health and Allied Insurance Company Limited is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) 

For more information, please visitwww.starhealth.in