Star Health Insurance, the largest standalone health insurance company, has experienced a significant decline in market share compared to its peers in the standalone health insurance sector. At the end of March 2022, Star Health Insurance held approximately 55% of the standalone health insurance market, but this figure dropped to 49% by March 2023 and further declined to 45% by February 2024.This decline represents a nearly 1,000 basis points (BPS) or 10% reduction in market share over the…
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Health insurance industry expands market share, yet concerns arise for Star Health Insurance
