Standard Chartered Bank & Star Health and Allied Insurance form a partnership

8 Aug 2023 , 12:19 PM

According to the company’s exchange filing, Star Health and Allied Insurance on Monday disclosed a partnership with Standard Chartered Bank to expand its distribution network.

After this partnership, Star Health will use Standard Chartered Bank’s enormous distribution network to make its health insurance products easily accessible to customers. With 100 offices distributed across 42 cities, the bank should be a handy one-stop shop for customers looking for complete health insurance coverage, according to the insurance provider.

Anand Roy, MD and CEO of Star Health and Allied Insurance Co. Ltd., stated to ET: ‘By working with Standard Chartered, a reputable international bank with a strong presence in key Indian markets, we not only expand the reach of insurance in these areas but also deliver top-tier services that align with the distinct needs of India’s affluent clientele.

The insurance provider expects that this alliance will make high-quality health insurance available to everyone across the nation.

According to Standard Chartered’s Wealth Expectancy Report for 2022, over 54% of respondents in India have prioritized health and wellness following the epidemic. ‘Health and protection are essential priorities now for clients managing their wealth. According to Saurabh Jain, MD & Head, Wealth Management India, Standard Chartered Bank, who talked to ET, ‘We are pleased to partner with Star Health and bring their products and services to address the evolving health needs of our clients.’

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