Federal Bank and Star Health Insurance tie-up for Bancassurance

Mumbai, December 10, 2021: Federal Bank has joined hands with India’s first standalone health insurance company, Star Health and Allied Insurance Co Ltd as a corporate agent to provide a wide range of innovative health insurance products for the Bank’s 8.90 million customers spread over 1,291 banking outlets across the country.

The Bank’s customers can avail benefits of Star Health’s retail products and group affinity products through the Bank’s various distribution channels thus helping customers address their complete financial needs under one roof.

Commenting on the new tie-up, Ms. Shalini Warrier, Executive Director & Business Head- Retail, Federal Bank, said, “We are delighted to tie-up with Star Health Insurance, one of the leading players in the stand alone Health Insurance industry in India. This is a significant milestone for both Star Health and Federal Bank. Through this partnership, we will be in a position to offer our customers a wide range of affordable health insurance products. We look forward to the alliance with Star Health Insurance”.

“We at Star Health believe that health insurance is essential for every citizen. Our strategic tie-up with Federal Bank will help us reach out to their customers and enable them to safeguard themselves from rising healthcare costs. It brings us great joy in announcing this tie-up with Federal Bank, one of the prominent commercial banks in the private sector and we look forward to a long-term, mutually beneficial partnership.”, said Mr. Anand Roy, Managing Director, Star Health and Allied Insurance Co. Ltd.