Galaxy Health Insurance Aims to Revolutionize with Monthly Product Launches

Galaxy Health Insurance Company Ltd plans to launch a new product monthly throughout the year, focusing on wellness and comprehensive solutions for retail customers. Backed by prominent industrialists, the company aims to expand its market presence in southern states and increase premium income to Rs 200 crore.

Standalone insurer Galaxy Health Insurance is set to launch a new product every month this year, aiming to meet diverse customer needs, according to CEO G Srinivasan. The company is exploring options to cover employees in the SME and MSME sectors as part of its growth strategy.

Founded by industry stalwarts Venu Srinivasan and V Jagannathan, Galaxy is determined to make a difference in the health insurance market with innovative and comprehensive solutions. A key focus is on wellness, ensuring full claims and quick, cashless settlements to satisfy customer service expectations.

Targeting Rs 200 crore in premium income this fiscal, Galaxy also plans to expand its presence from 60 to 100 locations, concentrating primarily on the southern states. While 90% of business will focus on retail insurance, the remaining 10% will cater to corporates, reflecting a strategic focus on personalized customer care.

(With inputs from agencies.)