Chennai-based Star Health and Allied Insurance Company, a standalone health insurance player, is hoping to recoup the loss of government business, which stood at Rs 700 crore last year from Tamil Nadu and Andhra Pradesh, by increasing its retail presence.
The company has set a target of achieving Rs 1,000 crore business for the current year as compared with Rs 1,008 crore last year. Of this, Rs 700 crore came from health insurance coverage schemes in the two states.
Ch Veeraraghavaiah, zonal manager of Star Health, said the company did not get government business this year as the revised cost structure for the existing scheme in Tamil Nadu was not favourable while the AP government had decided to follow an in-house model for running the popular Aarogyasri programme.
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