Even Expands into Retail Insurance Distribution; Enables Policy Portability for Customers

VMPL
Bengaluru (Karnataka) [India], May 20: Even Healthcare, India's pioneering integrated healthcare provider, is expanding into retail health insurance distribution, enabling individuals and families to directly access health insurance products. Moving beyond its existing group insurance offerings, the company will also enable seamless policy portability through Euston Insurance Advisors Pvt. Ltd., its wholly owned IRDAI-registered corporate agent subsidiary licensed to distribute health, general, and life insurance products. This expansion strengthens Even's integrated managed care model while deepening its presence in India's growing retail health insurance market.
Even Healthcare currently serves over 2 lakh members and has expanded its presence to 10 cities, recording 3X growth over the past two years. The company's model combines insurance coverage with integrated healthcare services including doctor consultations, care coordination, preventive support, and cashless hospitalization. With the launch of retail insurance products, these services will now be embedded into individual health plans.
Commenting on the milestone, Mayank Banerjee, Co-founder & CEO, Even Healthcare said: "Venturing into retail health insurance distribution 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."
The move also enables policy portability, allowing customers to switch their existing health insurance policies to Even while retaining accumulated benefits such as waiting period continuity, in accordance with applicable regulations. This gives consumers greater flexibility to transition into Even's healthcare ecosystem without losing existing coverage benefits.
Customers can also port their existing health insurance policies through Euston Insurance Advisors Pvt. Ltd., a wholly owned subsidiary of Even Healthcare and an IRDAI-registered corporate agent licensed to distribute general (including health) and life insurance products to prospective clients. The announcement pertains solely to Even expanding its distribution from group insurance products into retail insurance products. This remains an extension of an existing IRDAI-compliant framework and does not represent any new approval or permission sought from the Insurance Regulatory and Development Authority of India (IRDAI).
With its entry into retail insurance distribution, Even Healthcare expects retail policies to become a meaningful contributor to the business over the next year, while further strengthening its footprint in Bengaluru.
India's health insurance sector continues to expand, with the market estimated at around ₹1.2-1.3 lakh crore and projected to grow at nearly 20% annually, according to market research by Grand View Research. At the same time, out-of-pocket expenditure still accounts for about 42% of total healthcare spending in India, as per the National Health Accounts Estimates released by the Government of India, highlighting the need for more accessible and comprehensive insurance solutions.
About Even:
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare is India's leading managed care provider dedicated to building a better blueprint for healthcare. Through its innovative membership model, Even Healthcare offers free consultations, diagnostic tests, and cashless hospitalization, supported by a vertically integrated "payvider" approach that prioritizes preventative and outcome-led care. In May 2025, the company launched its first hospital in Bengaluru, expanding its full-stack system that integrates primary, preventive, and hospitalization care under one seamless model. Backed by global investors including Khosla Ventures, Founders Fund, and 8VC, Even Healthcare is rapidly scaling to make high-quality, affordable healthcare accessible to millions across India.
https://even.in/ | https://hospitals.even.in/
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