CHENNAI: Healthcare financing got yet another boost with Galaxy Health Insurance, India’s youngest standalone health insurer promoted by TVS Family Venu Srinivasan and the family of industry veteran V Jagannathan, on Monday launching Galaxy Twin 360.
The integrated product, to engage health insurance programme for young adults aged 18–45 years, comes with three plans: Core, Max & Ultra, which integrates comprehensive inpatient (IPD) protection, high-value outpatient (OPD) benefits and wellness services.
Urban Indians spend an average of Rs 15,000 to Rs 20,000 annually on OPD services such as doctor consultations, pharmacy, and diagnostics.
G Srinivasan, MD-CEO, Galaxy Health Insurance, said, Health insurance should be useful every day, not only during hospitalisation. Young adults often discontinue health insurance because they don’t see value when they do not make a claim.”
He also said the company has so far earned Rs 85 crore as premium income and has 3.5 lakh customers on book across eight states. Connected with a 7,000-odd hospital network, Galaxy has so far settled 1,500 claims. “About 98.8 per cent of the amount claimed by insurers has been paid by us,” Srinivasan said, noting that this is its 12th product since its inception in October 2024. To a query, he said the company started with a capital of Rs 300 crore is well capitalised and it essentially caters to the retail segment. Galaxy is looking at a gross written premium of Rs 400 crore for 2026-27.