Products distribution: Star Health, ICICI Securities tie up

Health insurance penetration in India is in low single digits even as the industry size is pegged at about Rs 50,000 crore per annum.

Star Health and Allied Insurance Company (Star Health), the largest standalone health insurer in the country, and ICICI Securities (I-Sec), among India’s leading financial products distributors, on Tuesday announced a partnership under which I-Sec would leverage its strong online and offline presence to distribute Star Health’s products nationwide.

Health insurance penetration in India is in low single digits even as the industry size is pegged at about Rs 50,000 crore per annum. However, owing to various factors like rising awareness and entry of specialised health insurers, the sector has been growing at a CAGR of 20% over the past 10 years, said a Star Health press release in Chennai.