Apollo Munich Health Insurance

Apollo Munich CEO-Proudly Announcing The Association

Apollo Munich CEO Mr. Antony Jacob Interview

Antony JacobWhat types of products are most popular? How about your focus for product development in India?

Inpatient indemnity cover is the most preferred and widely bought health insurance product in India. All general and health insurance players offer the same with few variations. However, Health insurance as a sector in India gained in importance post detarification in 2007 and since then there are visible examples of interesting product innovations.

With the strong understanding that Apollo Hospitals and Munich Health bring to healthcare and health insurance, we are in a good position to develop new market leading products. We will do this with a clear understanding of the voice of the customer. Having said that, we already have some of the best products in the market, and the scope for growth is quite substantial.

Nowadays most companies offer corporate health insurance to their employees as a part of their benefits package which is often positioned as an attractive proposition to retain talent but it needs to be noted by India Inc that the cover ceases to exist once the corporate employee moves out of the organization or there is a policy change for the employer side.

Thus keeping in mind the volatility of the professional and economic environment it is imperative for all corporate employee to look beyond the group insurance plan as extended by an employer and choose an adequate health cover for himself as well as his family at an younger age to make sure all diseases are covered when needed.
What changes do you foresee in the health insurance industry?

The health insurance market in India has been growing at 25-30 per cent per annum and has the potential to grow in the next five years, in my opinion, at 20-25 per cent. At pres­ent, the health insurance sector is characterised by very low penetration (only 3 per cent of the Indian popula­tion is covered), high out-of-pocket expenses and a steep medical infla­tion (which is much higher than the general inflation). It is estimated that 80 per cent of health care spending is actually an out-of-pocket expense for individuals.

Changing demographics, affluence and work-life balance have brought about a paradigm shift in attitudes and demand for quality health care. Health insurance as a mechanism to finance this need is finding greater acceptability. The need of the hour is to identify products that will suit customers'needs. One of the critical elements would be the timely and accurate settlement of claims to win consumer confidence. No insurer wants to be known for being tardy in settlingclaims—its reputation will be built around the efficiency and alacri­ty with which claims are processed.

The success of this industry and its players hinges on the awareness level of consumers. So a collective effort by all companies is necessary to take insurance to the consumer and extend the insurance coverage beyond 11 per cent which is covered at present only in eight cities.

How does Apollo Munich envisage to stand out?

Apollo Munich is a combination of two specialists—Apollo, which is synonymous with the health care industry, and Munich Health, a leader in health insurance around the world. These two parents of Apollo Munich make an outstanding combination, difficult for any other company to replicate. We believe that through this parentage, we will be able to understand the health care financing requirements of the country and per­haps replicate the success of health care financing through insurance, as seen in other countries, with the sup­port of Munich Health.

We have already rolled out some products which reflect the blended advantage of the two specialist par­ents and will continue to innovate and uncomplicate.

By Mr. Antony Jacob,
Chief Executive Officer


  1. i too have the same impression, as discussed in the last para that Apollo Muncih is the right company to buy health insurance, just because of its strong partners. No doubt that apollo group knows how to care.........

  2. Good interviews by Mr. Jacob. I have a lot of expectations from Apollo Munich.

  3. great info.. thanks...

  4. Thank you, Mr. Anthony Jacob, for advising individual health policy, apart from the corporate health insurance that the office provides. This is very sound advice.

  5. The statement itself, 'Let's uncomplicate' sets Apollo Munich apart from others in its efforts.

  6. I have retired from the insurance industry and can say that plans of Apollo Munich, be it individual, family or corporate, are top class.

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