Star Health Unveils 'Know Your Policy': Simplified Guide To Health Insurance Coverage

Star Health and Allied Insurance Co. on Thursday announced the launch of a new feature called ‘Know Your Policy’. This in-app tool helps customers easily understand their health insurance coverage.

Sharing the information in an exchange filing, the company said that the feature supports the IRDAI’s Customer Information Sheet mandate and promotes consumer protection.

"This aligns well with IRDAI's mandatory Customer Information Sheet (CIS) and the broader consumer protection objectives. Initiatives, like Star Health's simplified version of the CIS, set a positive precedent for the industry,” the insurer noted.

As per Insurance Regulatory and Development Authority of India guidelines, insurance companies are mandated to provide a simplified CIS to health insurance policyholders. This came into effect from January 1, 2024.

The new feature is available on the Star Health customer app. It offers a clear summary of what the policy covers, what it excludes and the waiting periods, as well as other key details.

“Since the ‘Know Your Policy’ launch, 3,00,000 customers have benefitted. It aims to provide instant, structured information, driving more informed and proactive customer engagement,” Star Health noted.

On the launch, Anand Roy, MD and CEO of the company, said, “Star Health's ‘Know Your Policy’ initiative is our effort towards making insurance terms more consumer-friendly. By creating a simplified, accessible version of the CIS, we are going beyond mere regulatory compliance to genuinely help customers understand what they're purchasing. The tool was built with customer simplicity in mind.”

The ‘Know Your Policy’ feature is structured into two sections for better customer understanding. The ‘What’s Included’ section provides a snapshot of key benefits such as hospitalization, emergency care, maternity and newborn coverage, and any additional covers or bonuses the customer has chosen.

On the other hand, the ‘What’s Not Included’ section lists common exclusions like cosmetic procedures, gender reassignment, treatments related to substance abuse and weight management. It also highlights waiting periods for specific illnesses and pre-existing conditions (PEDs). This is done to help the customers avoid any last-minute unwanted surprises during emergencies.

• Open the Star Health App and log in to your account.

• Navigate to the My Policy section on the home screen.

• Select your active policy to view details.

• Tap on the Know Your Policy feature to see a clear summary of the policy.