Standalone health insurer Galaxy Health Insurance has opened a regional office in Hyderabad as part of plans to strengthen presence in south India.

The office will serve as the regional hub for Telangana and complement the zonal office in Vijayawada, Andhra Pradesh, which was inaugurated in February.

Telangana and Andhra Pradesh, with their evolving healthcare needs and growing population, is central to the company’s south India strategy, MD and CEO G.Srinivasan said. Galaxy Health Insurance is India’s youngest standalone health insurer and received its license from the regulator Insurance Regulatory and Development Authority of India (IRDAI) in March 2024.

The company that launched its first product in October, ended the last fiscal with seven products and around 60 offices, plans to introduce 10 more products and take the number of offices to 100 in 2025-26. The plan is to grow the footprint in Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana and foray into states and regions with comparatively low health insurance penetration such as West Bengal, Odisha, Uttar Pradesh and the North East, he said in an interaction at the new office.

The company also plans to increase the number of agents from 6,000 to 50,000. In terms of premium mobilised, the plan is to touch ₹200 crore in current fiscal. Last fiscal, the premium totalled ₹17 crore.

Retail health is the focus segment, particularly in the context of rising medical inflation driving the customer demand. The company is also keen on offering group health insurance policies for the micro, small, and medium enterprises, Mr. Srinivasan said.

On the roadmap for Telangana and Andhra Pradesh, he said Galaxy plans to open 14 offices across key districts and onboard over 10,000 insurance agents in current fiscal.