With penetration still low and nearly 400 million citizens either uninsured or underinsured, the partnership aims to bridge India’s healthcare gap, the company said in a statement.
The alliance will focus on building insurance awareness and accessibility across India. While government schemes cater largely to those below the poverty line and private products serve wealthier segments, a vast middle section remains without adequate protection.
For Galaxy Health Insurance, this initiative marks an important step into untapped rural and semi-urban markets, enabling it to extend beyond metropolitan strongholds, broaden its customer base, and strengthen its distribution network across multiple states.
“By combining our expertise in innovative health solutions with RTI’s strong community presence, we aim to address the protection gap in India and contribute meaningfully towards the vision of ‘Insurance for All’ by 2047,” said G Srinivasan, MD & CEO, Galaxy Health Insurance.
“With Galaxy Health Insurance, we are adding a new dimension — health security for our members and their families, while also enabling India to access affordable policies,” added Rachit Bansal, National President, Round Table India.
Jointly promoted by Shri Venu Srinivasan of the TVS family and the family of V Jagannathan, former CMD of United India Insurance Co. Ltd. and founder of Star Health & Allied Insurance Co. Ltd., the company secured its IRDAI licence in March 2024. It has expanded to eight states, launched 10 products, and insured over 100,000 lives, added the statement.
