Paynearby Allies with Star Health for Expanded Health Coverage

By siliconindia  |  Friday, January 5, 2024

Paynearby Allies with Star Health for Expanded Health Coverage
PayNearby and Star Health, in collaboration with Allied Insurance, have forged a strategic partnership to enhance the accessibility and affordability of health insurance coverage throughout the country, with a specific focus on semi-urban and rural areas. This alliance aims to provide insurance to millions of currently uninsured individuals across the nation by leveraging PayNearby's extensive Distribution-as-a-Service (DaaS) network, which boasts over a million active outlets. The initiative involves making Star Health's carefully curated insurance products available in local retail stores through this expansive network.
"With the Star Health-PayNearby partnership, customers will now be able to conveniently buy tailored insurance offerings at their nearest retail store, assisted by their trusted local retailers,” the company added in its statement. Retailers affiliated with the PayNearby partnership will guide customers seamlessly through the entire insurance purchasing process, ensuring quick and trouble-free issuance. The collaboration also incorporates Star Health's user-friendly claims procedure and additional benefits such as complimentary telemedicine consultations with experienced doctors, personalized wellness programs, and free annual health checkups to elevate the overall insurance experience for customers.
Commenting on the partnership, Anand Kumar Bajaj, founder, MD, and CEO of PayNearby said, “Our partnership with Star Health solidifies our commitment to making quality health coverage more economical and available to everyone, everywhere. Together, we are taking the much-needed action required for better insurance penetration in the country and ensuring that people perceive insurance in the right light for a safer, better future for themselves and their families".
Chitti Babu, Chief Innovation Officer of Star Health, said, "Our collaboration with PayNearby, given their strong presence and deep networks in rural and non-metro regions of India, is another step in this direction, enabling us to offer bite-sized health insurance covers to all".
Established in April 2016, PayNearby stands as India's foremost branchless banking and digital network. Operating on a B2B2C model, PayNearby collaborates with local retail establishments, empowering them with the necessary tools to deliver digital and financial services to nearby communities. In contrast, Star Health and Allied Insurance Co Ltd began its operations in 2006 as India's inaugural standalone health insurance company, specializing in health, personal accident, and overseas travel insurance.

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