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Star Health Insurance Launches AI-Driven Face Scan Tool for Remote Health Assessment

20Jun

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Star Health Insurance Launches AI-Driven Face Scan Tool for Remote Health Assessment

Mumbai, June 20, 2024. Star Health and Allied Insurance Company Limited (Star Health Insurance) (BSE: 543412) (NSE: STARHEALTH), India's largest retail health insurance company, launches AI-driven Star Health Face Scan, an innovative Artificial Intelligence tool designed for remote health assessment, set to revolutionize health monitoring. This face scan performs a comprehensive health check-up in under a minute, providing valuable real-time insights on 18 vital health parameters at the individual's convenience. Commenting on the launch of Star Health Face Scan, Anand Roy, MD & CEO, Star Health and Allied InsuranceCo. Ltd., said, "The Star Health Face Scan tool not only exemplifies the company's commitment to innovation but also represents a significant step towards the...

Star Health Insurance Wins ‘Best Risk Transformation of the Year 2024’ Award

Mumbai, May 07, 2024. Star Health and Allied Insurance Company Ltd (Star Health Insurance), India's largest retail health insurance company, has won the 'Best Risk Transformation of the Year' award at the BFSI Innovation Confex & Awards 2024 held in Mumbai. This accolade stands as a testament to the commitment at Star Health Insurance towards excellence in the field of risk management. It is an acknowledgment of the efforts and innovative initiatives, which has fostered a resilient risk management culture at the Company. With a focus on innovation and customer-centricity, Star Health Insurance strives to set industry benchmarks and drive positive change in the health insurance ecosystem. It is committed to facilitating organizational expansion, responsibly and sustainably. This...

Star Health Insurance Records PAT Growth of 37% to Rs 845 Crores in FY24

New Delhi, May 2024. Star Health and Allied Insurance Company Ltd. (Star Health Insurance), market leader in retail health insurance, today announced robust financial results for its Q4 and FY2024. In FY'24 the Company reported a record profit of Rs 845 Cr, up 37% and an increase of 18% in Gross Written Premium (GWP) to Rs 15,254 Cr. PAT for Q4FY24 at Rs 142 Cr was up 40% YoY; GWP increased by 18% YoY in Q4FY24 to Rs 4,968 Cr. The Combined ratio was 96.7% in FY24 and was 92.7% in Q4FY24. The claim ratio stood at 66.5% for FY24 and 64.1% in Q4FY24. The Company posted a lower expense of management ratio of 30.7%, against the regulatory requirement of 35%, which offers an opportunity for growth. Star continued to make underwriting profit in FY24. Star Health Insurance' growth in GWP in...