Apollo Munich Health Insurance

Apollo Munich CEO-Proudly Announcing The Association

Apollo Munich is a Great Place to Work

Apollo Munich Health Insurance is not just here to uncomplicate health insurance; the company also makes sure that its employees have an enjoyable work culture conducive to their growth. In the 2011 Great Places to Work Study, conducted by The Great Place to Work Institute and The Economic Times, Apollo Munich proved that it is one of the best employers in the country! Apollo Munich ranked 2nd in the insurance sector and was ranked 51stin the top 100 best places to work listing.

There were over 500 companies that registered for the survey. Of these, 471 met the strict eligibility criteria. According to The Great Place to Work Institute, the best places to work are those where the employee and employer have cordial relations. The employee takes pride in working for the company and has good faith in the latter. The work environment should be such that one enjoys working with one’s colleagues.

Being given the 2nd rank in the insurance sector highlights the fact that people working at Apollo Munich take pride in working with the company. With the various initiatives taken in terms of employee engagement, the work place is always a perfect balance between fun and work.

The company encourages it’s employees to follow the 5 values of the company. These not only inspire people to work for the company with their heart and soul, but also stand testimony to the fact that Apollo Munich care for its employees with equal dedication.

Social Responsibilities are also given importance in the company. There are a number of mailers, events and drives organized to encourage employees to reach out and fulfill their social obligations. Employees are able to grow personally while maintaining a balance with their work-life.

Indian Express Interview with Mr. Antony Jacob


The CEO of Apollo Munich Health Insurance, Mr. Antony Jacob, in a recent interview with Ritu Kant Ojha of The Indian Express, said that ‘We are in the business to pay claims’.

When asked about the journey over the years, Mr. Jacob said that the company had seen remarkable growth over the past few years. Apollo Munich Health Insurance is a joint venture between The Apollo Group of Hospitals and Munich Health. The stand-alone health insurance provider earned a GWP of Rs. 283 crores in 2010-11. More than 27 lakh lives in the nation have been insured by the company.

Ritu asked Mr. Jacob about the challenges that came with the distribution of health insurance. He replied that although in the past health insurance distribution did face its share of challenges, the future looks very different. Over the next few years, we will be seeing quite a bit of growth as far as health insurance premiums and commissions go. The projected growth for health insurance agents proves to be a striking proposition for them.

Mr. Jacob then emphasized on the fact that Apollo Munich is in the health insurance industry to pay claims. He believes that with a strong IT platform and simple policy terms and conditions, Apollo Munich manages to carry out the responsibility towards policy holders as well as shareholders.

Ritu went on to ask Mr. Jacob about the fine prints that customer should remember to check when purchasing a medical insurance policy. He replied that buyers were advised three key factors:

  • To fill up the proposal form themselves
  • Know the exclusions of the plan
  • Reading the policy wordings thoroughly

Talking about the breakeven point, Mr. Jacob said that most health insurance companies reach breakeven around the 5th and 7th year of operation and the company is on track for the same. Ritu Kant Ojha and Antony Jacob went on to talk about the concerns of raising long term capital and about rural sector obligations. Mr. Jacob said that the shareholders were committed to fund the growth plans in line with the IRDA regulations.

As far as the rural sector is concerned, Mr. Jacob said that the company has taken part in some projects and is currently trying to understand the needs of the section prior to plunging into it in a big way. The company has already taken part in a few micro insurance projects. This has given the experts at the company a deeper understanding of the health insurance needs of the rural sector.

Insurance is the subject matter of solicitation. Please read the policy terms and conditions carefully.
 
Blogger Widgets