Branchless banking and digital network, PayNearby and Star Health, and Allied Insurance entered into a strategic partnership to make health insurance coverage more accessible and affordable across the country, especially among its semi-urban and rural populations.  

The company said that the strategic alliance will be instrumental in insuring millions of uninsured across the country through PayNearby’s million+ active Distribution-as-a-Service (DaaS) network, by bringing Star Health’s curated insurance products to local retail stores. 

“With the Star Health-PayNearby partnership, customers will now be able to conveniently buy tailored insurance offerings at their nearest retail store, assisted by their trusted local retailers,” the company added in its statement.  

PayNearby partnered retailers will handhold customers throughout the buying journey, ensuring instant and hassle-free issuance. Star Health’s convenient claims process, valued added offerings like free telemedicine consultations with expert doctors, personalised wellness programs and free annual health checkups will enhance the insurance experience, it added. 

Commenting on the partnership, Anand Kumar Bajaj, founder, MD, and CEO of PayNearby said, “Our partnership with Star Health solidifies our commitment to making quality health coverage more economical and available to everyone, everywhere. Together, we are taking the much-needed action required for better insurance penetration in the country and ensuring that people perceive insurance in the right light for a safer, better future for themselves and their families.”   

Chitti Babu, chief innovation officer of Star Health, said, “Our collaboration with PayNearby, given their strong presence and deep networks in rural and non-metro regions of India, is another step in this direction, enabling us to offer bite-sized health insurance covers to all.” 

Incepted in April 2016, PayNearby is India’s leading branchless banking and digital network. PayNearby operates on a B2B2C model, where it partners with neighborhood retail stores and enables them with the tools to provide digital and financial services to local communities.

On the other hand, Star Health and Allied Insurance Co Ltd (BSE:543412 | NSE: STARHEALTH) commenced its operations in 2006 as India’s first standalone health insurance company with business interests in health, personal accident and overseas travel Insurance.