Galaxy Health Insurance is jointly promoted by Venu Srinivasan of the TVS family and by the family of VJagannathan( former chairman of the Star Health Insurance).
Galaxy Twin 360 comes with salient features such as out-patient covers, wellness, value-added services and In-Patient hospitalisation covers.
Addressing a press conference here on Monday, G. Srinivasan, Managing Director and CEO, Galaxy Health Insurance, said that “the product aims to address key gaps in India’s health insurance landscape, particularly the high out-of-pocket expenses borne by individuals for outpatient care and preventive health.” The main philosophies behind launching this product are to come out with meaningful products, give wholesome coverage for individuals, to focus on the wellness of the insurers and to get the claims in full for the customers.
The Galaxy Twin 360 comes with three plans, Core, Max and Ultra. It is available as an Individual or floater up to 2 adults plus 3 children. It is specifically designed for adults aged 18-45 years and children aged 91 days -25 years. This product has a guaranteed renewal beyond 45 years and comes with a structure where the Outpatient (OPD) benefits are equal to the premium paid.
The coverage includes comprehensive IPD protection, where the fixed sum insured options range from Rs. 7.5 lakh to Rs 35 Lakh, Gala Fit – Pro Active care ( Engaging Wellness Program), in which the discount is allowed up to 20 per cent.
Within 14 months of launch, the Company has expanded its operations across eight states with 71 offices, supported by a network of over 15000 agents and 7,000 hospitals. Currently, the company serves around 3.5 lakh customers and has generated a premium income of over Rs 85 crore. Looking ahead, the company aims to deliver accessible, technology-driven and affordable healthcare solutions while contributing to the national vision of “Health Insurance for all by 2047.”
