Top 10 Health Insurance Companies in India

This article lists the top 10 health insurance companies in India in 2023 including Star Health, Care, Max Bupa, Aditya Birla, ManipalCigna, Niva Bupa, Apollo Munich, Religare, IFFCO Tokio & TATA AIG based on market share, coverage, hospital network & claim settlement.

Rising healthcare costs and incidence of lifestyle diseases have made health insurance a must for Indian consumers. Many standalone health insurers have entered the market along with specialized products from leading insurance companies. The total gross health premium collected during 2020-21 was Rs. 51,637 crore as per IRDAI. Here are the top health insurance providers in India as of 2023.

  • Star Health and Allied Insurance Co. Ltd


Star Health Insurance is the largest specialized health insurance company in India with a market share of over 31%. It offers protection against hospitalization costs, OPD and daycare expenses along with family floater options.

Key Facts:

  • Founded in 2006
  • Headquarters in Chennai
  • First standalone health insurer in India
  • Network hospitals of over 10,000
  1. Care Health Insurance


Care Health Insurance was launched in 2015 and offers health policies for individuals, families and groups. It provides extensive cover against hospitalization charges, pre and post hospitalization expenses along with optional critical illness rider.

Key Facts:

  • Founded in 2015
  • Headquarters in Hyderabad
  • Comprehensive plans with no sub-limits
  • Cashless facility across 4000+ network hospitals
  1. Max Bupa Health Insurance


A joint venture between Max India and Bupa Finance Plc., UK, Max Bupa offers indemnity and fixed benefit health plans at affordable premiums. It provides cover for hospitalization, pre/post care, OPD, diagnostic tests, daycare, etc.

Key Facts:

  • Founded in 2010
  • Headquarters in New Delhi
  • Individual and family floater plan options
  • Cashless settlement across 3000+ network hospitals
  1. Aditya Birla Health Insurance


Aditya Birla Health Insurance provides policies to safeguard health related expenses for individuals and groups. Its plans cover in-patient and daycare treatments, restore benefits, telemedicine, etc.

Key Facts:

  • Founded in 2015
  • Headquarters in Bengaluru
  • Company promoted by Aditya Birla Capital
  • Network of over 7000 hospitals pan-India
  1. ManipalCigna Health Insurance


ManipalCigna Health Insurance Company offers affordable plans that provide coverage for hospitalization, critical illness, accident and daycare procedures. It is a joint venture between Manipal Group and Cigna Corporation.

Key Facts:

  • Founded in 2014
  • Headquarters in Mumbai
  • Comprehensive network of over 11,000 hospitals
  • Settlement network across 2.8 lakh hospitals globally
  1. Niva Bupa Health Insurance


Niva Bupa Health Insurance, commenced in 2008, is a joint venture between Niva Holdings and Bupa. It offers health plans for individuals, families and groups with extensive hospital network across India.

Key Facts:

  • Founded in 2008
  • Headquarters in Gurugram
  • Cashless facility across 7000+ network hospitals
  • Daycare treatments covered
  1. Apollo Munich Health Insurance


Apollo Munich offers customized health insurance plans that cover hospitalization, critical illness, personal accidents and more. It is a joint venture between Apollo Hospitals and Munich Health.

Key Facts:

  • Founded in 2007
  • Headquarters in Gurugram
  • Network hospitals of over 5000 pan-India
  • Cashless settlement across network hospitals
  1. Religare Health Insurance


Religare Health Insurance provides solutions for health contingencies including surgeries, hospitalization expenses, pre/post care, etc. Its plans cater to individual and group needs.

Key Facts:

  • Founded in 2012
  • Headquarters in Gurugram
  • Health insurance plans with sum insured Rs. 50,000 to Rs. 5 crore
  • Cashless facility across 4000+ network hospitals
  1. IFFCO Tokio General Insurance


Along with general insurance, IFFCO Tokio also offers specialized health plans like individual/family floater, critical illness, personal accident and top-up coverage. It is promoted by IFFCO & Tokio Marine Group.

Key Facts:

  • Founded in 2000
  • Headquarters in Gurugram
  • Comprehensive network hospitals of over 4000
  • Claim settlement ratio of 90%
  1. TATA AIG General Insurance


TATA AIG offers health policies that include hospitalization expenses, OPD coverage, restoration benefits and critical illness coverage. Its plans cater to individual and group needs.

Key Facts:

  • Founded in 2001
  • Headquarters in Mumbai
  • Cashless claims across over 5000 networked hospitals
  • Claim settlement ratio of around 87%


The insurance sector in India is poised for strong growth in the coming decade driven by economic expansion, rising disposable incomes, greater awareness and entry of niche players. While public sector companies continue to dominate the market, private insurers are rapidly gaining market share across life, general and health insurance segments. The future looks promising for insurance companies as they deploy technology, expand reach and launch innovative products to tap the underpenetrated Indian market.

1 thought on “Top 10 Health Insurance Companies in India”

Leave a Comment