Apollo Munich Health Insurance

Apollo Munich CEO-Proudly Announcing The Association

Apollo Munich – Canara Bank Partnership

After prolonged and extensive discussions, Apollo Munich and Canara Bank have finally decided to work together. The formal tie-up took place on 7th October, 2013 at a ceremony in Bangalore. Through this partnership, the bank shall be acting as a corporate agent for selling Apollo Munich Health Insurance plans from its more than 4,200 branches. This tie-up is also being called as a bancassurance tie-up. This is because through this tie-up insurance products are being distributed through a bank’s network.

This is the first kind of tie-up since the existence of Apollo Munich Health Insurance. This, in turn, makes this tie-up yet another achievement in the field of insurance as well as in the history of Apollo Munich Health Insurance. In the words of Apollo Munich Health Insurance, CEO, Antony Jacob, “Canara Bank marks the first in what I expect will be an illustrious group of partners we will work with, as we continue our foray into Bancassurance.”  Furthermore, Canara Bank sets a target to earn a fee based income of Rs 100 Crore from this bancassurance partnership in the next one year.

The main reason behind this tie-up is to offer the huge base of esteemed customers of Canara Bank with Apollo Munich Health Insurance products, says Chairman and Managing Director, Canara Bank, R. K. Dubey. Furthermore, Canara Bank customers shall also be offered tailor-made products. In addition to this, the bank has a fee-based income starting with the sales of insurance policies for a sum of Rs 15 Crore.

Yet another point that should be taken into account is that, both parties, Apollo Munich Health Insurance and Canara Bank, shall be working collectively under the Corporate Agency model. Furthermore, it is worth noting the fact that Apollo Munich is diligently working towards developing and designing exclusive products for Canara Bank customers. However, it has been told that these products are still in the pipeline and are progressing at every stage. In addition to this, the teams working on the development of these products are tied up and busy in hiring and training new staff members. It is these staff members, who would be providing the much needed assistance for these products later on.

The CEO of Apollo Munich Health Insurance, Antony Jacob takes pride in stating that, "Apollo Munich is committed towards working with the bank in order to ensure excellent training, product support and smooth operational processes, so that the customers can enjoy an uncomplicated health insurance products and services". It has also been revealed that to ensure absolute success of this affiliation, state-of-the-art technology is being installed. Thus, it can be said that every effort is being made in order to make this tie-up a successful one.

Apollo Munich Health Insurance is a joint venture between The Apollo Hospitals Group and Munich Health. Where on one hand, Apollo Hospitals Group is a sign of quality healthcare in the Indian subcontinent and on the other, Munich Health, along with being a company of the Munich Re Group; it is also a world leader in health insurance. This joint venture has brought together an extensive understanding of healthcare domain and strong brand equity combined with Munich Health’s technical expertise, which together offer a sound base for Apollo Munich Health Insurance.

One should be known to the fact that Apollo Munich Health Insurance operates as a standalone health insurer offering innovative Health, Travel as well as Accident insurance solutions all over India. It is a well-known brand in the field of health insurance. The policies offered by Apollo Munich are simple and easy to understand. Apollo Munich Health Insurance understands that it is essential to be aware about the terms and conditions of an insurance policy before any individual purchases it.

It is important that an individual is aware about the benefits, inclusions, exclusions and the terms and conditions of any given insurance policy before purchasing it. This, in turn helps an individual in analyzing the policy features and later on deciding if it is suitable for him or her. One should take note of the fact that it is utmost important that an individual should purchase only that insurance plan which is best suited with one’s lifestyle. Knowing a health insurance policy inside-out helps an individual in reaping maximum benefits from it.

From the advent of Apollo Munich Health Insurance, it has been constantly working towards its mission to keep on introducing innovative health insurance and wellness solutions that meet customer needs, as well as aiming to build the organization on the principles of transparency, trust and integrity. In addition to this, its mission is also to create opportunities for its employees, so that they are able to learn as well as grow in an enjoyable work culture.

Apollo Munich Health Insurance offers the masses with such insurance plans that have an affordable premium. And, understanding that medical care costs are soaring up high, it does not burden its buyers with things like claim-based loading, co-payment or sub-limit. For Canara Bank Customers, Apollo Munich offers two of its flagship products. One is Easy Health and the other is Optima Restore. Both these insurance plans provide an individual with benefits that offer the much needed assistance in times of unforeseen medical emergency.

Apollo Munich has been offering individuals with comprehensive health insurance at an affordable premium so that every individual can avail best of medical assistance without any hassles.

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