The latest management (Mr. Anand Roy- MD) conversation with The Economic Times:-
-The company will take a price hike of 25% in its leading product- Family Health Optima product.
-It has a different rate of product for different regions, and accordingly, the management will make a price hike.
-The customers are comfortable with price hikes, which will play out over the next 12 to 15 months.
-Guiding to manage loss ratio between 63% to 65%.
-New accounting policies will help health insurance companies in better ROE- and there are 2 new major changes, 1st is a conservative method where 1 by 365 earnings of the premium. And 2nd is an aggressive method. Star Health is following a conservative method since the beginning.
-Bancassurance and partnership verticals are growing with a 50%+. The company will focus more on this vertical along with digital marketing for the next couple of years.
-Targeting digital marketing penetration from the current 10% to 20-25% by FY25.
-The current agent base is 6,00,000, added 80,000 new agents in this fiscal year, and guiding to add 1,00,000 new agents aggressively every year from now onwards.
-Also guiding to increase more focus in the Semi-urban and Rural markets for the next few years.
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