Even Healthcare has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to offer retail health insurance products, enabling the company to directly sell policies to individuals and families and allow customers to port their existing health insurance plans to Even.

The approval marks a significant milestone for Even Healthcare, whose insurance offerings have so far largely operated through group insurance products. With the regulatory clearance, the company can now expand into India’s retail health insurance market and integrate its managed care delivery model with individual insurance plans.

Even Healthcare currently serves over 2 lakh members across 10 cities and has reported 3X growth over the past two years. The company’s healthcare model combines insurance coverage with integrated services such as doctor consultations, preventive support, care coordination, and cashless hospitalization.

With the launch of retail insurance products, these services will now be embedded into individual health insurance plans, allowing customers to access a more integrated healthcare experience.

Commenting on the development, Mayank Banerjee said, “Receiving approval from the Insurance Regulatory and Development Authority of India (IRDAI) to offer retail health insurance is a defining milestone for Even. This allows us to bring our integrated healthcare model directly to individuals and families and move beyond traditional insurance that focuses only on hospitalization. Our goal is to build a system where insurance and healthcare delivery work together to improve clinical outcomes.”