Star Health Insurance settled over Rs.2,800 Crore in Claims in Karnataka in last 5 Years

Star Health and Allied Insurance, India's largest standalone retail health insurer, today announced its strong performance in Karnataka, underlining its leadership in customer care, claims service, and regional growth. Over the last five financial years (FY21-FY25), the company has settled more than 4.8 lakh claims and paid out over Rs.2,800 crore to customers across the state, reinforcing its role as Karnataka's most trusted health insurance partner.

At a national level, Star Health is the largest retail health insurance company, with over 1 crore claims settled since inception, amounting to more than Rs.52,000 crore in claims paid, and a market share of around 33% in retail health insurance till FY25-end. The solvency ratio of 2.2 times, significantly exceeding the regulatory mandated minimum and this strong financial position serves as a reliable assurance to policyholders that their claims will be settled promptly and securely, even during periods of high or unexpected claim volumes.

The company's mobile app has surpassed 11 million downloads, while its physical presence continues to expand with 71 branches in Karnataka, supported by over 55,000 agents and 1,100 network hospitals that seamlessly process 93% of cashless claims. Star Health Insurance holds a market leadership position in retail health insurance in Karnataka, with a market share of 31% in health insurance. The number of lives insured in Karnataka stood at over 19 lakhs in FY25.

Commenting on this performance, Himanshu Walia, CMO, Star Health and Allied Insurance, said: "At Star Health, our mission is to stand by families in their most vulnerable moments. For us, every claim paid is a life supported and a family protected. Karnataka has been central to our journey, and our ability to pay out more than Rs.2,800 crore in claims over the last five years reflects both our financial strength and our unwavering commitment to customers. With innovative products and wellness initiatives and a strong distribution network, our aim is not just to insure people, but to enable healthier, more secure futures for every customer we serve."

In FY25 alone, Star Health settled more than 1.13 lakh claims, disbursing over Rs. 650 crore to customers. Bengaluru accounted for the largest share with claims worth over Rs.440 crore, followed by other key cities such as Mysuru at Rs.40 crore, Mangaluru at Rs.30 crore, Shivamogga at Rs.21 crore, and Hassan at Rs.21 crore.

Across the five-year period from FY21 to FY25, the leading cause of treatment included orthopaedics and trauma claims worth close to Rs.440 crore, cardiology over Rs.320 crore, COVID-19 over Rs.290 crore, gastroenterology over Rs.270 crore, and carcinoma over Rs.260 crore. Together, these categories accounted for over 1.7 lakh claims and over Rs.1,590 crore in claims settled.

Star Health Insurance offers wellness programs and free Tele-consultations along with Home Health care (HHC) services in the state of Karnataka. In Apr-Aug'25, the Company completed 2500 consultations of telemedicine and HHC in Karnataka. HHC has greatly benefitted customers by offering cashless doorstep medical care within 3 hours with no out-of-pocket expenses. Improves accessibility, availability and affordability of healthcare in Karnataka. The Company offers HHC in Bangalore, Mangalore, Mysore, Tumkur, Shimoga, Udupi and Hubli.

As Star Health looks ahead, it aims to continue building on this momentum by driving insurance penetration deeper into every district of Karnataka, ensuring that more families are protected against rising healthcare costs. By combining product innovation with service excellence, the company is not only shaping the future of health insurance in the state.

Shares of Star Health and Allied Insurance Company Limited was last trading in BSE at Rs. 450.70 as compared to the previous close of Rs. 450.60. The total number of shares traded during the day was 13692 in over 517 trades.

The stock hit an intraday high of Rs. 453.80 and intraday low of 446.50. The net turnover during the day was Rs. 6162738.00.

Source : Equity Bulls

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