Apollo Munich Health Insurance

Apollo Munich and Canara Bank Tie-up

On Monday, October 7th 2013, Apollo Munich Health Insurance launched its bancassurance alliance with Canara Bank, a Bangalore-based public sector lender. This bancassurance tie-up aims at distributing the insurance products through a bank's network. Apart from this, it shall also make use of its business correspondents’ network to take health insurance to unbanked regions. This tie up is first of its kind for Apollo Munich, since the day of its inception. In the course of this tie-up, the bank will hand out Apollo Munich Health Insurance products across its 4,200 branches. In this way the bank will act as a corporate agent for selling these products, as stated by Apollo Munich Health Insurance Chairman, Prathap C. Reddy.

This tie-up is an ideal instance of a recent IRDA directive, according to which banks are permissible to act as license allies of non-bank promoted insurers. Through this tie up, Canara Bank is targeting a premium of Rs. 100 Crores by the end of next year. Meanwhile, Apollo Munich expects that its gross written premium shall grow much slower in this year due to de-growth in the group insurance business.

Furthermore, Canara Bank, Chairman and Managing Director, R K Dubey stated, "We've tied up with Apollo Munich to offer health insurance products. We'll offer some tailor-made products to customers". And, according to Antony Jacob, CEO, Apollo Munich Health Insurance, this happens to be the first tie-up by a non-bank promoted health insurer with a bank. And, this happened soon after IRDA relaxed the norms for segments beyond general and life insurance. Through this tie-up with Canara Bank, Apollo Munich Health Insurance is determined to expand its reach to 50 million customers of Canara Bank’s 4,200 branches.

The CMD of Canara Bank, Mr. R. K. Dubey, said that, “We provide additional value to our customers by offering health insurance. The penetration of health insurance in semi-urban and rural areas is very limited. With 65 per cent of our branches located in such places, we hope to provide health cover to a large number of uncovered customers.”
Apollo Munich has a wide range of insurance solutions for the masses at large. It continues to abide by its motto, “Lets Uncomplicate”, and offers simple and easy to understand insurance policies. All its policies are written in simple language, so that an individual can understand it easily and have a clearer picture of what all is being offered by a particular plan. As insurance is considered as an investment for one’s future wellbeing, Apollo Munich encourages every individual to be aware of all that a policy offers, including things like what sort of coverage a policy offers him or her and what benefits will they be offered with.

Especially for Canara Bank Customers, Apollo Munich Health Insurance has launched its two flagship products. One is, Easy Health Group and second is, Optima Restore. The coverage being offered under Easy Health Group plan is upto 2, 00,000 per annum. And, a cover of up to Rs. 10 lakh is being offered under Optima Restore. Easy Health has a single pricing to cover family members of all age groups and no medical tests are required to get enrolled for this policy. According to Optima Restore plan, the entire sum insured will be restored in case it gets exhausted during the tenure. Along with this, the cover also gets doubled in case an individual has not made any claim for the first two years.

Both these products offer people with maximum coverage, so that an individual is able to reap maximum benefits when dealing with any sort of medical emergency. Where on one hand, Easy health is the basic product offered by Apollo Munich Health insurance, on the other, Optima Restore is the unbelievable product. It offers an unbelievable restore benefit to its buyer, according to which the entire sum insured gets restored in case a person uses it within a given tenure.

While talking about future plans, Antony Jacob, CEO Apollo Munich says, that, “the company plans to introduce specific products for lifestyle diseases like diabetes and hypertension for Canara Bank customers”. Furthermore, in future, the company wishes to widen its reach by having similar tie-ups with other banks. For now, Apollo Munich expects to clock a growth of around 15 per cent in its premium this year to over Rs 700 Crore, against 30 per cent growth last year. Company CEO, Antony Jacob attributes de-growth in the group insurance segment for the slower growth in GWP.

One should take note that, according to Apollo Munich Health Insurance, CEO, Antony Jacob, “the business mix between retail and group insurance has been 60:40 earlier, but going forward it could be 75:25. The corporate insurance segment has become unprofitable with the competition from the general insurance companies. The margins have eroded in group insurance and we will continue to focus on retail”.

It should also be noted that Apollo Munich is a standalone health insurer, which operates all over India. In addition to this, it also offers innovative travel and accident insurance for all citizens of India. Nowadays, with availability of online insurance, an individual can buy insurance online with just a few mouse clicks.
Furthermore, it also enables an individual to view other health insurance plans and do a comparative study, so as to choose the plan that is most suitable. Through online insurance, an individual can get insured instantly and gain in-depth knowledge about all it. This, in turn saves a lot of time.

The main aim behind this tie-up is to offer health insurance coverage to all Canara Bank Customers. Both Apollo Munich Health Insurance and Canara Bank will work together under a Corporate Agency model.

Apollo Munich Wins Best Employer Brand Award

Institute of Public Enterprise (IPE) has conferred Best Employer Brand Award to Apollo Munich Health Insurance Company for being a Role Model and Exemplary Leader in benchmarking talent and HR practices by:
• Scaling and managing complexity.
• Committing to continuous improvement by encouraging and nurturing the value of learning and a mind-set of excellence through continuous training and development.
• Pledging commitment to professional growth.
• Measuring organizational health and inculcating values that help in achieving the vision of a social employer and future leader.

Apollo Munich Health Insurance is a joint venture between Apollo Group of Hospitals and Munich Health. It is a standalone health insurance provider coming up with several innovative healthcare products. Working under the guidance of two proficient partners, the company proudly says “We know Healthcare. We know Insurance.” Taking both healthcare as well as insurance needs into consideration, Apollo Munich comes with products that can take good care of health of the person along with access to uninterrupted insurance services.

Since the year of its inception, 2007, Apollo Munich has come a long way. Having established itself in Indian health insurance market with a reputed name and trusted services, it has served millions of families. Having formulated plans against all kinds of health risks, it has provision for all. People of all ages can find shelter under the canopy of its comprehensive health plans. Moreover, the company ensures that it lives up to the promises made. Such consistent and focused efforts has lead Apollo Munich to win the award of Best Employer Brand.

Building upon the clear mission of “Let’s Uncomplicate”, Apollo Munich introduces easiest ways for acquiring health insurance coverage. Providing genuine information about all its products in simple policy wordings, it enables people to develop a clear understanding of the policy coverage.

Apollo Munich understands the fact that healthcare needs differ from individual to individual. Thus, to allow hassle free healthcare to all, it has devised plans of different kinds. Keeping an eye over the changing needs of people, it has formulated plans that can serve them rightly. Being a pure health insurance company, it concentrates purely on the medical care needs of masses. Building upon the clear set of values “Inspiring passion, Managing Relationships, Being responsive to customers, Delivering on our promises and Thinking and Acting Transparently”, Apollo Munich aims to offer best health insurance services along with customer satisfaction.

Beginning its journey with one health plan, Easy Health, today Apollo Munich has a long list of healthcare products to offer. It covers health risks generated during accidents and travel. More so, from a child to senior citizens of country can get insured under the preferred plan. Time and again it keeps introducing plans with innovative features. They entitle the insured people to enjoy first of its kind benefits in health insurance sector. Having provision for all, its plans have been the choice to millions of individuals and families.

Having bagged several awards for its products, Apollo Munich has proved its concentrated efforts. Coming up with flexible products, it takes care of citizens of country. Company has been established with a broader vision of improving healthcare condition across the country. With this view, Apollo Munich started its journey with the prime objective to help stay healthy regardless of worry of healthcare expenses. The company logo- Happy Man depicts the vibrant colors that have specific significance. It collectively illustrates its aim of assisting people in making their life healthy and therefore happy. This has resulted in Apollo Munich reaching out places and measuring boundaries. With a view to move ahead, it aims at going higher bringing further improved services.

Great Place To Work 2012

Apollo Munich Health Insurance is once again declared as Great Place To Work and one of India’s Best Companies to Work for in, by Great Place to Work Institute. It has brought applaud for the efforts of the company directed towards the benefit of humankind.

Apollo Munich has been ranked third best place to work in insurance sector and 37th Great Place to Work in the category of companies with up to 1000 employees. This reward has won acclaim for inspiring trust in customers and creating an environment for growth. Being declared as Great Place to Work, Apollo Munich will continue work with an aim to make life easier for all. It not merely uncomplicated health insurance but also ensures that its employees enjoy working in a healthy environment. It paves way for professional as well as personal growth.

This award was twice in a row for the company. Time and again, efforts of Apollo Munich has been identified with the capability of best rated services. Such accolades comes as a proof for its movement in the right direction. The company continues to look ahead and aim for excellent results in future.

With this recognition, Apollo Munich has proved that it is one of the best employer to work with. Making a significant contribution in the field of health insurance sector, it has introduced several new ways that can make health insurance easy yet innovative for masses. While building upon the target of customer satisfaction, the company ensures the satisfaction of its employees. Great Place of Work institute consider those companies as best place to work that nourishes cordial relations between employer and employees. Honoring Apollo Munich with this award, it has proved the efficient and healthy work environment exercised in the company. It makes evident that Apollo Munich is a name known for taking care of its employees with complete dedication. Thus, people working with Apollo Munich take pride in working for the company and keeps it in good faith.

Apollo Munich has come a long way. Taking upon the responsibility to change the perception of health insurance industry amongst masses, Apollo Munich has taken several steps. This has involved dense thinking and concentrated efforts. Acting upon the clear vision “to be a trusted leader in the health insurance sector by providing innovative solutions to the citizens of India’, the company makes sure that it serve people with what they looking for. It has traveled a long journey with constant introduction of new ideas and concepts. Thereby, developing upon them, Apollo Munich Insurance encourages the efforts of employees while making sure that it comes out with something effective for its customers.

The passion for providing best- in class services is the driving force for the company. To meet its target, Apollo Munich encourages its 5 set of values that includes ‘Inspiring passion,
Delivering on promises, Being responsive to customers, Managing relationships and Thinking and acting transparently’. Following through these values, it ensures best results that brings cheer for not only the company but also for people who put their efforts for it. Along with strong customer building relations, Apollo Munich also stimulates interpersonal skills amongst employees. This further nurtures the exchange of ideas and circulation of them for improvisation and better results. In this way, it maintains a balance between fun and work enhancing overall growth of all.

Besides the set of values, Apollo Munich works with clearly stated mission. It has announced ‘Creating opportunities for employees to learn and grow in an enjoyable work culture’ as one of the commitment in that mission. To ensure the fulfillment of this mission, Apollo Munich keeps organizing the events to keep the enthusiasm and interest of its employees alive throughout. It also encourages and recognizes employees’ efforts and hard work. Working as a family, the company keeps the focus of best delivery of services and complete satisfaction of both employees and clients.

Apollo Munich Awarded a Silver in the Digiratti 2012 List

Apollo Munich bagged yet another award, a Silver in the Digiratti 2012 List by Paul Writer for Marketing Campaign of Optima Restore.

The Digiratti List by Paul Writer recognizes those campaigns that are benchmarks for Connected Marketing. This List aims to recognize the team that has created unique customer communities and used innovative social media, video, mobile and digital technology to increase marketing impact.

Apollo Munich won this Silver Award for its marketing theme 'Unbelievable' for memorability and retention - featuring hard-to-imagine acts performed by people from different parts of the world and for turning the company website upside down before the launch to create a buzz to draw trade and customers to the website for more information. This unusual concept successfully gained attention of majority of people. It created buzz in market by introducing truly innovative health insurance benefits.

Starting its journey in health insurance sector in the year 2007, Apollo Munich always came up with well designed healthcare products. Travelling through various twists and turns, it has been established as one of the best health insurance provider in India. The company has earned this recognition with consistent and concentrated efforts, innovative thinking, urge to offer the best in class services to the citizens of country. Having launched various different products like Easy Health, Maxima, Insure Health, Optima Cash, Optima Plus, Optima Restore, Optima Senior and Easy Travel insurance plan, it offers different insurance options to all. One can find insurance coverage as per the specific need. Amidst all the products, Optima Restore is inclusive of several unique health insurance benefits.


Talking about this unbelievable product, Antony Jacob, the CEO of Apollo Munich Health Insurance Company mentioned, “ Optima Restores is the first in the series of next generation products that we are planning to launch. It is based on our extensive research over the past 17 months and analysis of over 250 global products. ‘Optima Restore’ has been designed to offer complete comfort to health insurance consumers, since their coverage will increase whether they use up the plan or don’t use it at all. Guaranteed and with no extra charge.”

This plan is inclusive of other benefits like lifelong renewal, no claim based underwriting, no geography based sublimits, treatment on cashless basis across 4000 network hospitals, easy upgrade and certifies associates. With all such benefits Optima Restore offers comprehensive and beneficial coverage.   

Due to its innovative features and benefits, the plan has been the choice of millions of people. The plan has been introduced to meet all healthcare needs of people without any compromise. Drawing a good response from market, Optima Restore has proved its success and effective working. With its launch, Restore sold a record number of policies. Involving basic insurance coverage features, it weaves along innovative insurance benefits to allow healthcare without any compromise. Having won awards for its innovative thought line, it has introduced first of its kind benefit. It achieved great success rate giving evidence of favourable response from people.

The creative thought has brought alive the idea of this unbelievable product. To makes people familiar with its concept, its advertising campaign’s focus was to bring alive this truth, positioning Optima Restore as the game changing product. Its promotional videos draw attention towards the unbelievable facts. It highlights the unusual activities performed by people that are rare to find. It directly relates to the product Optima Restore that brings unusual benefits at easy access.

Optima Restore adheres to its tagline of ‘Unbelievable’. It is a plan power packed with first of its kind benefit that makes the policy coverage comprehensive and beneficial at affordable insurance premium. Framed in sum insured options ranging from 3 lakh to 15 lakhs, the plan can be purchased as both individual and family health plan.

Innovation Award for Optima Restore

Optima Restore is a truly innovative product launched by Apollo Munich Health Insurance
in recent past. Based on the concept of ‘Unbelievable’, the plan incorporates several unique features to serve people with unique healthcare benefits. Soon after its launch, the product captured the attention of large number of audience thereby receiving a good response.

Optima Restore became the choice of majority of people with its unbelievable benefits. The plan is inclusive of basic coverage features along with a long list of innovative insurance benefits that makes the plan unique.

In a very short time, Optima Restore became the choice of many people. For developing upon such unique concept, this plan has bagged below listed awards
  • India Insurance Awards for Best Product Innovation Award category
  • ‘Innovation of the Year’ award at the Asia Insurance Industry Awards
  • Innovation Award by Finnoviti in the Insurance Sector for an unbelievable product
Having received all such awards, Optima Restore has been evident of the innovative healthcare coverage it offers to its clients.

There are numerous health insurance products available in the market. They are ready to serve people with comprehensive health insurance coverage. Formulated as per the needs of people, the policies are flexible enough to fit into the framed of varied healthcare needs. Amidst all of them stands Optima Restore- an unbelievable health plan. The plan is based on the unique concept so as to serve people with never before benefits in health insurance industry. It is a plan that entitles the insured not only to comprehensive coverage but also to innovative health insurance benefits at affordable cost.

Optima Restore offers you basic sum insured options ranging from 3 lakhs to 15 lakhs. It allow the individual to pick the plan as per the affordability. The buyer can decide according to the premium he/ she can afford to pay. Moreover, the policy is equipped with a feature like ‘Multiplier Benefit’. There are several plans that might be offering no claim bonus but Optima Restore offers it in different packaging. This benefit multiplies the sum insured in case the insured does not make the claim. It entitles him/ her to a no claim discount of 50% increase in the insurance amount for having a claim free year. But here comes an added advantage, if the policy holder does not apply for claim even in the second year, it will double the basic sum insured making it 100% of the insurance amount. With no extra charge or any complicated paperwork, Apollo Munich serve people with this unique benefit.

In addition to this, this innovative health insurance policy makes the insured entitled to yet another ‘Restore Benefit’. Pertaining to this feature the policy automatically reinstates the entire sum insured amount if the insured uses it in a policy year. This provision is of true help for insured individuals, especially if the plan is purchased as family health plan. If the coverage amount has been utilized once, it doesn’t keep other insured members away from using the coverage amount once again. With the coverage amount restored, other members can once again claim the policy coverage for best healthcare coverage. Hence, the plan lives up to its promise of taking good care of all the covered members.

Taking a close view of the plan, Optima Restore can be truly recognized as an innovative health insurance plan. Having earned the trust of millions of people, it has served many people with its unique health insurance benefits. So, get yourself covered under such a unique health plan and enjoy unbelievable medical insurance benefit.

Simply Ganguly - On the Hot Seat With Sourav

18 January 2013: 'Simply Ganguly' is a series starting today that will see Sourav Ganguly interacting with various interesting characters on the hot seat. Simple questions, straight forward answers, and unexpected guests.

This series will be launched at Apollo Munich's official facebook page http://www.facebook.com/ApolloMunichHealthInsurance on 18 January 2013.

The first guest on the hot seat is 'Elvisda'! Elvisda is a dhinchak party animal who is happy go lucky and wants to enjoy life without worries. Watch out for Elvisda – his hips don't lie. Nor does he.
This engagement initiative by Apollo Munich (@apollomunichins) marks Sourav's (@SouravGanguly) foray into social media.

Note to editors:
Apollo Munich Health Insurance Co. Ltd. is a joint venture between Apollo Hospitals Group and Munich Health, Munich Re’s newest business segment.

The company offers comprehensive health insurance plans for individuals and their families as well as for corporate houses. The company also offers individual personal accident plans and travel insurance for individuals, families and senior citizens. Apollo Munich is a specialized health insurance company in India that has expertise in both health and insurance and is able to leverage this understanding for the benefit of its customers.

With over 8,500 beds across 52 hospitals in India and overseas, neighborhood diagnostic clinics, an extensive chain of Apollo Pharmacies, medical BPO as well as health insurance services and clinical research divisions working on the cutting edge of medical science, The Apollo Hospitals Group is Asia’s largest integrated healthcare provider.

Munich Health draws on Munich Re’s insurance and reinsurance competence with over 5,000 experts at 26 locations worldwide. The Company devise innovative healthcare solutions for clients and partners all over the world.

Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2010, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of over €2.4bn on premium income of around €45.5bn. It operates in all lines of insurance, with around 47,000 employees throughout the world.

Apollo Munich Health Insurance Company Limited
10th Floor, Building No.10, Tower B,
DLF Cyber City, DLF City Phase-2,
Gurgaon-122002, Haryana, INDIA.
http://www.apollomunichinsurance.com/
https://www.facebook.com/ApolloMunichHealthInsurance
http://www.linkedin.com/company/apollo-munich-health-insurance-company-ltd.
http://www.youtube.com/user/apollomunich
https://twitter.com/apollomunichins

Optima Senior New Health Plan by Apollo Munich

Health insurance is a provision that takes care of our healthcare needs. It is meant to ventilate healthcare worries paving smooth way for stress free treatment. With financial coverage, the insured can live life with mental peace. However, only those who acquire the coverage realize the importance and the relevance of a health cover.

Even today, there are many people who take health insurance for granted. Not giving much importance to it, they prefer to pay from their pocket and remain exposed to health related complexities. However, it is important to realize the significance and the role of a health insurance policy in life.

Considering its usage and need for survival for all, health insurance companies have emerged with variety of plans. They are ready to serve  people with required coverage. On the basis of regular research, they keep a track of changing healthcare needs of people. Thus, formulating plans as per their need, they aim at improving healthcare conditions at large. With this view, wide range of choice is made available to people. Offering the health insurance coverage for senior citizens, the insurers live up to their promise of taking care of healthcare needs of all individuals.

Health insurance for senior citizens covers them against the health risks in later stages of life. It assist with financial support at the age of retirement. The health insurance coverage empowers the elderly people to cope with unforeseen medical emergencies without any complication. To provide people with affordable option, Apollo Munich Health Insurance has emerged with a comprehensive plan like Optima Senior. It is a plan comprised of amazing features, designed specifically for senior citizens. So, if your parents or grandparents are still uncovered and you want to secure their health future, here is a wonderful option.

Optima Senior comes with the sum insured options of 2 lakhs, 3 lakhs and 5 lakhs. It enable the person to opt for higher sum insured so as to enjoy wide ranging benefits. With no maximum cover ceasing age, the individual can enter the plan at any time after the age of 61 years. Besides this, the policy incorporates several other features that makes it coverage complete and unique. Once insured under this plan, one can enjoy
  • Cashless hospitalization in across 4000 network hospital in over 800 cities
  • Lifelong Renewal to enjoy the coverage for whole life
  • No Claim Discount of 5% on renewal premium payable after every claim free year
  • E- Opinion for listed critical illnesses from specified medical panel
  • Portability to be able to get the coverage transferred from any other insurance company with due allowances for waiting period
  • No claim based loading for having made the claim before

Inclusive all such features, Optima Senior provides appropriate coverage in return of the investment made. In addition to this, the insured is offered 5% discount for getting self and spouse insured under the same health cover and an additional discount of 7.5% for taking the coverage for 2 years. Beside this, the policy coverage also entitles the individual to tax benefits under section 80D of Income Tax Act.

Hence, solution is right here at your access. There is just a need to get hold of one and enjoy hassle free healthcare in times of need. With senior health insurance plan like Optima senior you can gift your elders a secured future in those years of life when the person is most expected to face illness or fall ill.

Apollo Munich Optima Restore Plan

Optima Restore is a newly launched plan by Apollo Munich. Working with a team of experts, the provider has formulated a plan that is rich with distinctive benefits. This plan incorporates the Restore Benefit that is a unique feature. Under this provision the policy restores the basic sum insured in case one exhausts it within the policy year. This enables the person get covered for any other illness that would otherwise have to be paid for through one’s own pocket, at no extra cost.

Besides this, the policy includes a Multiplier Benefit, which is another amazing feature. It allows the policy holder to get the basic sum insured increased by 50% if he/she has a claim free year. This comes as a no claim bonus, giving a beneficial service to the insured. It gets further extended in next year if the insured still does not apply for claim. In the second year, the policy doubles the sum insured making it 100% of the insurance amount. These two beneficial features make this plan different from various other health coverage plans. 
Apollo Munich aims at providing best health care services to people. To fulfill this need it has emerged with several comprehensive health plans. By formulating cost effective policies it enables people of all income groups to avail the best health treatment. Optima restore is one such plan that is enriched with numerous benefits. It is a plan that comes with the facility of lifelong renewal. The insured can stay covered for an extended period of time. 

In addition it includes the feature of cashless hospitalization. The policy holder can enjoy the health treatment on cashless basis across 4000 hospitals that come within the empanelled network. It also provides coverage for the pre and post- hospitalization expenses. To join the list there are features like in- patient treatment, coverage for day care procedures and emergency ambulance. This makes it a complete package that can fulfill the basic medical care needs along with the several beneficial services.

Optima Restore is available as an individual coverage plan and also as a floater policy. With all its wide ranging benefits it can cover all the family members. This plan can cater to the health needs of the entire family at the cost of a single affordable premium. The reasonable premium cost makes it a comprehensive health plan. The floater plan includes self, spouse, dependent parents and dependent children. In this way this plan is ready to offer utmost benefits to the individual or family.

Equipped with all such features, Apollo Munich has formulated this plan with various unique and never-before features. 

Apollo Munich’s Top Up Plan - Optima Plus

A person looking for a health plan would prefer to buy a product that can offer wide coverage along with a long list of benefits. To cater to this need Apollo Munich has formulated the Optima Plus health plan. Whenever there is a need of healthcare, there are various medical and non medical requirements that lead to expenses. Optima Plus is a plan that serves as a complete health coverage plan.

It is a top-up health insurance plan that can be issued to the individual and/or the family. To fulfill the health needs of people at large this plan offers coverage for the expenses of pre and post- hospitalization, in- patient treatment and 140 day care procedures as mentioned in the policy. It also safeguards the insured from the expenses incurred while availing of medical treatment at home under the domiciliary treatment benefit.
In addition Optima Plus offers life-long renewal facility. This enables the person to take the benefit of health coverage for an extended period of time. In this way it becomes a comprehensive health plan. This plan is available at cost effective rates that resolve the affordability issue for people. It is a simple to understand and easy to afford health plan.

Apollo Munich aims at increasing the number of insured in the country. Optima Plus is a plan that contributes greatly to this objective. This is a plan that comes with no maximum cover ceasing age. Also it offers a discount of 7.5% on the premium amount if you choose the policy for a time period of 2 years.

It is a plan that gives an option of waiving the deductible between the age of 58- 60. The deductible is the specific amount that the policy holder is supposed to pay for his/ her health care expenses in case there is a need for hospitalization before any benefit from the policy can be availed. This plan can provide the basic health insurance along with the promise of several other healthcare benefits. The insured can enjoy the wide coverage benefits for a lifetime.

Also it incorporates the easy portability service. It allows the person to avail of the policy by getting transferred from any other policy. Moreover it offers health protection to dependent family members at a reasonable cost. It covers the self, spouse, dependent parents and dependent children under one umbrella. Thus the insured is just required to pay a single premium instead of paying it separately for each member. To make it more beneficial, the insurer offers an added advantage of 10% family discount in case 2 or more family members are included in the plan.

Avail all the mentioned benefits by paying a reasonable insurance cost of Optima Plus. 

Antony Jacob throws light on Apollo Munich's Growth Over Next 3 Years

Antony Jacob,
Chief Executive Officer,
Apollo Munich Health Insurance Company

STANDALONE health in­surer Apollo Munich Health promoted by Apollo Hospitals expects to turn profitable in the next three years.

"We hope to break even by 2012-13 and start mak­ing profit from 2013-14," Apollo Munich Health In­surance chief executive of­ficer Antony Jacob said.

The company is already making profit so far as re­tail business is concerned, however, there are under-writing losses in terms of group insurance, Antony Jacob said.

Apollo Munich is a 74:26 joint venture be­tween The Apollo Hospi­tals Group, and Germany-based Munich Re's newest business segment, Munich Health, which came into being following the reorganisation of business.

As far as capital infu­sion is concerned, Jacob said, by 2013-14 the com­pany's total paid-up capital would go up to Rs 500 crore from the present level of Rs 225 crore.

Capital infusion will go in for expansion of the business, he added.

Antony Jacob said, the company would invest about Rs 20 crore during the last quar­ter of 2009-10.

About the rechristening of the firm, he said, the new name is in line with the company's brand strat­egy to communicate its deep-rooted expertise.

They are: Easy Health standard; Easy Health Exclusive; Easy Health Pre­mium.

On December 29, 2009, the insurance company, has renamed itself Apollo Munich Health

Insurance from Apollo DKV Health Insurance.

Apollo Munich Health Insurance has three op­tions in healthcare insurance products.

Antony Jacob CEO Interview Part 2



How do you see the potential of stand-alone health insurance operation in India? What are the advantages for this operation model?

At present the health insurance sector is characterized with very low penetration (only 3% of the Indian population is covered with some insurance cover), high out-of-pocket expenses and steep medical inflation (which is much higher to general inflation). It is estimated that 80 per cent of the healthcare spending is actually an out-of-pocket expense for individuals. On the other hand, changing demographics, affluence and work-life balance in India has brought about a paradigm shift in attitudes and demand for better and the best quality of healthcare. Health insurance as a mechanism to finance is therefore finding greater acceptability. Thus the market has great prospects, but the need of the hour is to identify products that will suit customers’ insurance needs and win their confidence.

We believe that through our model of joint venture we will be able to understand the health care financing requirements of this country. Our parentage helps to understand how health care financing through insurance has worked in similar countries overseas through the support of Munich health. This unique blending brings in products and services to this country which is fully researched and tested in other markets. So we do believe that we have the advantage and we have rolled out few of our products which is reflects the blended advantage of the two specialist parents we have. We will continuously innovate and bring in expertise which we believe would be possible only through this unique combination.

What were the factors driving Munich Re to form a stand-alone health insurance company with Apollo Hospitals Group in India?

The Munich Re group was keen to partner with a brand that shared similar interest in pure health insurance and had a strong provider background, India knowledge and a strong brand equity.

The Apollo Hospitals group, the premier healthcare brand and “architect of modern healthcare” was known for its good reputation for innovative and high-quality healthcare services. In the Group Munich Re identified complementary strengths which have added value to the Joint Venture.

On the other hand, Apollo examined the global market in search for a technically strong partner and found that in the Munich Re Group, DKV was an appropriate choice considering the common commitment to operate in the pure health insurance space.
The Long experience of Munich Re in areas of product innovation, technical expertise in underwriting, actuarial skills etc complement Apollo’s strengths in the Indian market and hence the fit is strategic and perfect.

By Mr. Antony Jacob,
Chief Executive Officer



Antony Jacob CEO Apollo Munich Health Insurance: Interview



What are being important for running health insurance business in India?

One of the critical elements in the competitive landscape of future would be the timely and accurate settlement of claims to win consumer confidence. No insurer want’s to be known for being tardy in settling claims – its reputation will be built around the efficiency and alacrity with which claims are processed. We at Apollo Munich believe that demystifying the health insurance sector is the most critical success factor and we are in business to pay claims! While having an obligation to our shareholders to ensure that we pay genuine claims and have enough checks and balances in place to repudiate non-genuine claims. We have a robust IT platform and strong provider relationships to minimize such cases. Ultimately, we also believe that if we very clearly explain to our customers what is covered and what is not and the circumstances under which claims are paid, we will be in a position to pay every single genuine claim.

At Apollo Munich Health, we are deeply committed to grow at least 25 per cent year on year for the next few years. We hope to uncomplicate people lives by giving them better healthcare and innovative products.

Our latest brand campaign ‘Lets Uncomplicate’ focuses on the easy process that Apollo Munich offers for people seeking comprehensive health insurance for themselves and their loved ones. A series of four commercials was conceptualized to portray Apollo Munich as a user-friendly and hassle-free health insurance company. The advertisements was aired across all news and entertainment channels and was targeted to tackle the general concerns faced by people when it comes to healthcare. As the campaign states, Apollo Munich envisage to take the fear out of faces, the jargon out of words, the bitter out of medicine and trouble out of treatment to uncomplicate Healthcare and more specifically Health Insurance.

By Mr. Antony Jacob,
Chief Executive Officer


Points to consider before choosing a health insurance plan

Apollo Munich, a joint venture between the Apollo Group of Hospitals and Munich Health, keeps the changing market trend and the life-style of people in mind so that it can fulfill the health needs of maximum number of people in India. The company designs its products in such a way that they stand best-in-class.

There are countless benefits included in our plans. Firstly, it offers life-long renewal, which can be used to avail health cover for the entire life. Secondly, the company believes that it is better to take preventive action than to fear for its cure and thus, it incorporates value-added services, which are designed to take care of preventive healthcare need. It comes free with all its products so that each client can enjoy complete health cover. Thirdly, Apollo Munich plans come with the longest list of network provides to remove the affordability issue of the medical treatment. Fourthly, its clients can avail health advice from experts just at a phone call and that too, without paying any extra for the same.

There are many more benefits of Apollo Munich’s plans. These points should be considered by an individual as he/she can get the health cover with so many benefits and that too at reasonable rate.

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Apollo Munich Medical Insurance in India

Apollo Munich, a joint venture between the Apollo Hospitals Group and Munich Health, is a standalone health insurer in India. Looking into the importance of medical treatment in case of emergency, Apollo Munich has brought various health insurance plans, travel plans and accidental plans, which act as a solution to affordability issue of the treatment expenses.

Apollo Munich is highly sensitive towards client’s health need, as it notices the problems faced by the people and brings out innovative medicare solutions in response to these problems. Thus, the company brings out new product time-to-time.

The company works with the motto to take out the fear from faces, the jargon from words, the bitter from medicines, the trouble from treatment and the confusion from claim. The statement shows the company’s interest in solving out the health issues faced by the people in India. The last statement throws light on its easy and simple claim process, which is an answer to the problem of complicated claim procedure with other health insurers.

It offers value-added services (cashless hospitalization, healthline and health risk assessment tool) with each product to focus on preventive healthcare needs. Hence, Apollo Munich’s plans offer complete medical coverage to both curative and preventive health needs of its clients.

Working in the direction to make medical treatment easy for the citizens of India, Apollo Munich has brought following medical insurance plans:-

Easy Health—It is available in two variants—Individual and Family, each of which is further subdivided into three: - Standard, Premium and Exclusive. It is believed that this plan offers coverage to people of all income groups.

Insure Health—This plan is designed for people, who want to stay away from hassles related to policy issuance procedure. This plan also offers coverage to inpatient treatment for Ayurveda, Unani, Sidha and Homeopathy.

Maxima—It is India’s First 360 degree plan that offers wide health cover to both individuals and families.

Personal Accident Plan—This plan is designed to offer coverage to a person’s medical needs, when he/she meets an accident. This plan pays for the compensation amount in event of insured’s death or disability. It also offers coverage to bodily injuries and several other benefits.

Optima Cash—It is a daily cash hospital benefit plan that is easy to understand. It offers daily cash amount for the number of days an insured is hospitalized.
All the above mentioned plans are well thought and designed.

Apollo Munich Health Insurance Tax Implications

There are numerous persons who seek health insurance plan just due to associated tax benefits. At the end of financial year, individuals run after tax saving alternative. Some opt for short-term plans while others opt for long-term plans.

Health insurance is one such option that helps you to avail either type of benefit, depending upon your needs. In addition, these plans also offer tax benefits. If the policy is renewed regularly, long-term tax benefits can be availed.

The section 80 D of the Income Tax Act states that the amount invested towards the health insurance plans is exempted from tax. The same holds true, if the investment is made either for family’s health or for parent’s health.

It is subjected to the maximum of Rs.15,000 per year. In case of senior citizens, the limit may extend to Rs. 20,000 per year.

Apollo Munich, a joint venture between the Apollo Group of Hospitals and Munich Health, offers you financial and medical shelter through its plans. It also gives you an option to opt for life-long renewal feature, which helps in availing long-term tax benefits.

In addition to it, a person should compare various associated factors such as Premium, Coverage Limit, Exclusions, Deductible, Co-payments etc. It would help to choose the best plan.

Furthermore, Apollo Munich plans are designed, looking into healthcare needs of individual at the time of medical emergency. Thus, the company offers complete coverage to its customers. The team of experts working in designing of products has adopted unique ideology of identifying healthcare needs and then, designing plans accordingly. This means have proved beneficial both for the customers and for the company.

Working in lines of this unique ideology, Apollo Munich is looking forward to offer health cover to more than 500 million people in India over next five years, which if accomplished would bring a great change in the health insurance sector in the country.

Apollo Munich Health Insurance Premium

Apollo Munich, a joint venture between the Apollo Group of Hospitals and Munich Health, is a pure health insurance company in India. It looks after of healthcare needs of one and all in the country.

The major issue that a person faces with these products is their affordability. As a solution to this issue, Apollo Munich has brought several affordable health insurance products so that large number of people can enjoy under the health cover. The affordable policies are not only associated with premium amount, but signify quality care at reasonable rates.

Apollo Munich policies are tailor made plans that give its customers an offer to select the plan, as per their wants. For customer’s ease, Apollo Munich brings online premium calculator so that individuals can compute their premium themselves and decide the product that suits their budget.

The premium calculator operates on the specific algorithm that is made by a team of experts. It is formulated with the objective of fair transaction between the customer and the company. A person can use this calculator while purchasing online policy or in other cases.

A person can also look into premium charts, which gives a clear idea of amount to be paid.

The company keeps several fixed and variable cost in mind while deciding the amount of premium to be charged from customers. It involves:-
• Cost of advertising
• Cost of selling
• Cost of services rendered by healthcare practitioners
• Investment of premium amount
• Margin in profit
• Administration of insurance programs

Apollo Munich apart from these above mentioned factors also keep budget of different sections of society and the healthcare needs of people. As a result, the premium charged by Apollo Munich is not an encumbrance amount. Few of its plans can be bought at the expense of just few rupees per day, which is easily affordable amount.

So, buy health insurance without worrying for its costs. This small adjustment in your budget will help you in times of medical needs and will not upset the budget, besides making medical treatment affordable and accessible. Hence, you can now visit the most reputed hospitals of the city and can avail medical treatment from the hands of experts.

Apollo Munich has further made it very easy for people to seek quality medical treatment.

Apollo Munich Health Insurance Needs

It is necessity for every person to get cover against all health risks that may arise due to unexpected event in life. Everyone wants his/her family member to undergo quality health services, which is not easily affordable. Before you face any such situation in your life and it becomes an encumbrance over you or your family member, it is better to get medical and financial shelter that could provide you the required help in times of need.

An escalating medical cost, costly doctor's visit, hospitalization chances and check up requirement all collectively sum up to a huge amount, which disturbs your budget. Hence, there arises the need of health insurance, as you get someone to pay for your treatment.

Apollo Munich Heath Insurance Company, a joint venture between the Apollo Group of Hospitals and Munich Health, is a pure health insurer in India that looks into healthcare needs of one and all in the country. These products give you an access to quality care and at the same time, help you in maintaining financial stability, which might get disturbed at the time of unexpected exigency, if you are not insured.

Apollo Munich promises to take the fear out of faces, the jargon out of words, the bitter out of medicines and trouble out of treatment.

In addition to it, Apollo Munich has adopted a unique ideology in designing of its products. It is on behalf of this ideology and their aim of demystifying health insurance that it has maintained its goodwill in the market. There is a team of experts that work from morning till evening in identifying people’s healthcare and using it as a data for designing of it plans. When a plan is designed, focusing on healthcare needs, it is successful in offering coverage to larger number of people.

Hence, it is advisable to people to look into their health insurance needs and then buy a plan so that they can get coverage for their needs. Buy health insurance and stay away from all financial issues that can turn up to in the path of your life at the time of medical emergency.
 
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