Galaxy Health Insurance has expanded into the international travel insurance segment with the launch of 'Galaxy Fly Global Travel Insurance'. According to reports from The Hindu BusinessLine, the company announced this development on Thursday, marking a significant diversification from its core health insurance business. The product has been specifically designed for Indians travelling overseas for leisure, business, education and employment purposes, leveraging the company's existing healthcare expertise. As reported by Galaxy Health Insurance, Managing Director & CEO G. Srinivasan emphasized that "healthcare shouldn't stop at India's borders," positioning this plan to keep travellers safe wherever they go.
The launch comes at a time when India's outbound travel is witnessing strong momentum, with travel insurance adoption rising steadily as more travellers recognize the importance of financial protection against overseas healthcare expenses, trip disruptions and evolving global travel risks. As reported by The Hindu BusinessLine, G. Srinivasan stated that travel insurance is becoming as essential as a passport, with risks associated with overseas travel having evolved significantly over the years. The timing appears particularly strategic as more Indians are traveling and realizing how important insurance coverage is for international travel.
According to the company's announcement, Galaxy Fly Global Travel Insurance provides protection against both medical emergencies and travel-related contingencies. The policy covers hospitalisation, outpatient treatment, emergency medical evacuation, repatriation of mortal remains, and hospital daily allowance. Additionally, the product offers protection against trip cancellation and interruption, flight delays, missed connections, loss or delay of checked baggage, loss of passport, personal liability, hijack distress allowance, bounced hotel and airline bookings, compassionate visits, and return of minor children. As reported by Galaxy Health Insurance, the policy extends coverage to include hospital stays, outpatient care, and even repatriation of mortal remains, addressing both medical and non-medical travel risks.
As reported by The Hindu BusinessLine, Galaxy Health Insurance expects travel insurance to emerge as a key growth driver within its retail portfolio over the coming years. The company anticipates that the segment will play an increasingly significant role in new retail business, representing a strategic diversification beyond the company's traditional health insurance focus. With India's growing outbound travel market and increasing awareness of travel risks, this expansion positions Galaxy Health Insurance to capture a larger share of the international travel insurance market.
