CHENNAI: Citi-based Galaxy Health Insurance, India’s youngest standalone health insurer founded in October 2024, on Monday announced the launch of its 12th product Galaxy Twin 360 here. It provides insurance coverage for young adults aged 18 to 45 years and also covers family members – spouse and three children. The product has three plans: core, max & ultra, integrating comprehensive inpatient (IPD) protection, high-value outpatient (OPD) benefits and wellness services.
Addressing the media after the launch, its MD & CEO G Srinivasan said it is estimating a 5% to 6% impact on its bottom line due to the recent GST rationalisation in September.
He said, “The GST rate cut has impacted all standalone health insurers more than general insurer. We expect that it will impact nearly 5% to 6% on the bottom line.” Galaxy Health Insurance is promoted by TVS Group’s Venu Srinivasan and Star Health Insurance founder V Jagannathan.
With the rolling out of its 12th product, the company’s focus is to provide insurance coverage for out-patient services as well.
Margabandhu Radhakrishnan, Chief Underwriting Officer at Galaxy Health Insurance, said, “We have tie-ups with some of the country's top clinics. Moreover, clinics with which we don’t have tie-ups, we ensure reimbursement options to insured.”
The company also plans gross written premium (GWP) to Rs 400 crore by end of FY2027-28. On product launch, Srinivasan said, “Galaxy Twin 360 is built on a simple idea – health insurance should be useful every day, not only during hospitalisation. Young adults often discontinue health insurance because they do not see value when they do not make a claim. Galaxy Twin 360 changes that narrative."
He added that by combining IPD protection, OPD benefits, preventive wellness services and digital health tools, the plan ensures insurance is useful every day, making coverage relevant, practical, and financially efficient.