Star Health to Offer Dollar-Denominated Insurance from GIFT City for NRIs

Star Health and Allied Insurance Company has announced plans to introduce dollar-denominated insurance products from the Gujarat International Finance Tec-City (GIFT City) for Non-Resident Indians (NRIs).

This move marks a significant step for the company, as it aims to cater to the global Indian community with tailored insurance solutions.

Being the first health insurance company to receive registration for establishing an International Financial Services Centre (IFSC) office in GIFT City, Star Health is poised to expand its international presence. The company is set to commence operations through a branch by the end of this month, as per a statement released on Monday.

Through its GIFT City facility, Star Health aims to offer health insurance solutions in US dollars, providing easier access for NRIs worldwide. This initiative aligns with the company’s goal of serving the NRI population with specialized insurance products designed to meet their unique needs.

The move is expected to significantly enhance Star Health’s global reach and business prospects. By leveraging the advantages of GIFT City, the company seeks to tap into the growing demand for international insurance among NRIs, offering them comprehensive coverage and peace of mind.

With this expansion, Star Health reaffirms its commitment to providing innovative and accessible insurance solutions, not only to residents in India but also to NRIs across the globe. This endeavor reflects the company’s dedication to serving diverse customer segments and adapting to the evolving needs of the market.

In summary, Star Health’s decision to offer dollar-denominated insurance from GIFT City underscores its proactive approach to serving the global Indian community and marks a significant milestone in its journey towards international expansion.