Galaxy Health Sets Rs 200 Crore Target for Nationwide Expansion
Tuesday, 13 May 2025, 14:45 IST
Galaxy Health Insurance, established in March 2024, aims for a Rs 200 crore revenue target
The company has already established 61 offices and a 6,000-strong agent network
Notable offerings include the Smart OP outpatient treatment
Galaxy Health Targets Rs 200 Crore Plans for Pan-India Expansion Smart OP, 100% claim settlement made Galaxy stand out in health insurance sector. Galaxy Health Insurance, the latest standalone health insurer in India, has made ambitious plans to take its presence across the nation while emphasizing innovation, affordability, and trust in healthcare services.
Speaking to the media in Hyderabad, G Srinivasan, Managing Director and CEO, Galaxy Health Insurance, explained the firm's achievements and plan for accelerated growth. Established in March 2024 and functional since October, Galaxy is already a solidly established player in four southern states Tamil Nadu, Karnataka, Telangana, and Andhra Pradesh. It will now expand to five additional states by the close of the financial year. In only four months of operations during the previous year, Galaxy Health Insurance earned Rs17 crore in premium revenues.
For the current fiscal year, it is aiming for a bold Rs200 crore. The company has established 61 offices and created a 6,000-strong agent network, which it plans to expand to 50,000 by the end of the year. Academically Global Opens Experience Centre In Hyderabad "We are a youthful company just five months on the job but growing rapidly, our emphasis remains on growing insurance penetration, primarily in rural and underserved territories," G Srinivasan,
Also Commercial Taxes Dept Target Achievements: Bhatti Galaxy presently has seven health insurance products in its portfolio and is looking to grow the list to 17 by December 2025. Its lead product, Galaxy Promise, comes in Premium, Elite, and Sig-nature flavors to meet varied needs of coverages.
In Wooing Cos, Controlling Inflation: CM One of the innovations is Smart OP, an outpatient treatment plan that pays for doctor consultations, diagnostic tests, and bills at a pharmacy expenses not usually covered in ordinary insurance policies. "Nearly 50 per cent of healthcare expenditure in India goes to non-hospitalisation charges. Smart OP addresses this huge gap," said a company executive. Galaxy Health Insurance guarantees 100 per cent claim payments with no covert deductions. "If the customer incurs Rs1 lakh, they receive Rs1 lakh.
There are no surprises," said the spokesperson. The company has joined hands with 3,400 hospitals and plans to double its network to 7,000 by the end of the current year. Galaxy has joined hands with all the major healthcare providers in Hyderabad alone. Galaxy's business model is highly retail-based, with 90 per cent of its business being contributed by individual policyholders. The insurance company targets serving customers in Tier 3 and Tier 4 towns, where medical emergencies typically result in financial hardship because they are not insured.
The company has already established 61 offices and a 6,000-strong agent network
Notable offerings include the Smart OP outpatient treatment
Galaxy Health Targets Rs 200 Crore Plans for Pan-India Expansion Smart OP, 100% claim settlement made Galaxy stand out in health insurance sector. Galaxy Health Insurance, the latest standalone health insurer in India, has made ambitious plans to take its presence across the nation while emphasizing innovation, affordability, and trust in healthcare services.
Speaking to the media in Hyderabad, G Srinivasan, Managing Director and CEO, Galaxy Health Insurance, explained the firm's achievements and plan for accelerated growth. Established in March 2024 and functional since October, Galaxy is already a solidly established player in four southern states Tamil Nadu, Karnataka, Telangana, and Andhra Pradesh. It will now expand to five additional states by the close of the financial year. In only four months of operations during the previous year, Galaxy Health Insurance earned Rs17 crore in premium revenues.
For the current fiscal year, it is aiming for a bold Rs200 crore. The company has established 61 offices and created a 6,000-strong agent network, which it plans to expand to 50,000 by the end of the year. Academically Global Opens Experience Centre In Hyderabad "We are a youthful company just five months on the job but growing rapidly, our emphasis remains on growing insurance penetration, primarily in rural and underserved territories," G Srinivasan,
Also Commercial Taxes Dept Target Achievements: Bhatti Galaxy presently has seven health insurance products in its portfolio and is looking to grow the list to 17 by December 2025. Its lead product, Galaxy Promise, comes in Premium, Elite, and Sig-nature flavors to meet varied needs of coverages.
In Wooing Cos, Controlling Inflation: CM One of the innovations is Smart OP, an outpatient treatment plan that pays for doctor consultations, diagnostic tests, and bills at a pharmacy expenses not usually covered in ordinary insurance policies. "Nearly 50 per cent of healthcare expenditure in India goes to non-hospitalisation charges. Smart OP addresses this huge gap," said a company executive. Galaxy Health Insurance guarantees 100 per cent claim payments with no covert deductions. "If the customer incurs Rs1 lakh, they receive Rs1 lakh.
There are no surprises," said the spokesperson. The company has joined hands with 3,400 hospitals and plans to double its network to 7,000 by the end of the current year. Galaxy has joined hands with all the major healthcare providers in Hyderabad alone. Galaxy's business model is highly retail-based, with 90 per cent of its business being contributed by individual policyholders. The insurance company targets serving customers in Tier 3 and Tier 4 towns, where medical emergencies typically result in financial hardship because they are not insured.
