Biju Menon says Star Health Insurance will add 29–30 bancassurance partners by H1FY26.

In order to boost new business, Star Health and Allied Insurance plans to acquire 29–30 bancassurance partners by the first half of the upcoming fiscal year, Executive Director & Chief Business Officer Biju Menon told Moneycontrol in an interview. State-owned banks, commercial banks, and non-banking financial organizations are among the 71 bancassurance partners that the company now has. Their current partners include, but are not limited to, Bank of Baroda, Punjab National Bank, IDFC First Bank, L&T Finance, Tata Capital Housing Finance, and Samaan Housing Finance (India Bulls). The company signed bancassurance relationships with Neogrowth, RBL Bank, Niwas Housing Finance, and Northern Arc Finance Ltd. during the third quarter of the current fiscal year. According to Menon, the bancassurance vertical contributed about 15% of the company's new business in the first half of FY25, and the company hopes to quadruple this amount over the next three years. Additionally, Menon stated that the company's goal is to expand its broker count from 600 to 800.