Star Health launches UPI QR code-based payments for policy purchase and renewals

CHENNAI: Star Health and Allied Insurance on Thursday announced the launch of UPI QR code-based payment option for purchasing policies and renewals.

According to a statement, all essential payment details, including the premium amount, are pre-fed into the QR code, simplifying the payment process and eliminating the need for manual premium amount entry.

With a simple scan of the customized code, customers can make payments within a few seconds, ensuring a hassle-free, error-free and efficient experience.

Anand Roy, MD & CEO, Star Health & Allied Insurance, said, "This initiative reaffirms our commitment to adopting the latest in payment technology. With this development, we empower all our customers to embrace a new era of insurance transactions."

Kunal Kalawatia, chief of products, NPCI, said UPI has gained significant popularity as one of the most preferred modes of payment in the country, owing to its convenience and wide acceptability.

"The seamless, efficient and secure payment choices offered through UPI will undoubtedly pave the way for a digitized insurance ecosystem in India. With financial inclusion at the forefront of the nation's economic agenda, the integration of UPI will make the process of policy renewal and purchases more accessible, thereby, further propelling the penetration of the insurance sector in India."