@Parakkal, Srikumar Menon Welcome to Microsoft Q&A and thanks for reaching out with your query.
You can send Azure Service health alerts with ServiceNow using Webooks, please refer to this documentation. Once the setup is configured every time an Azure Service Health alert fires as it looks for the action type setup , it calls a webhook through ServiceNow's scripted REST API. Please see if this fits your requirement and see for which alert you want to configure action type as webhook for the ones you need for ServiceNow integration vs email notification.
Also, to add please refer about best practices for setting up Azure Service Health alerts
Hope this information helps. Please let us know if you have any additional queries. Thank you.