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 7^th 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.

Great Place to Work 2012

Once again, the year 2012 brings recognition of best place to work for Apollo Munich Health Insurance. In a survey conducted by Great Place to Work Institute, Apollo Munich was ranked 37the Great Place to Work in the category of companies with up to 1000 employees. In this survey, Great Place to Work Institute studied over 533 organizations in India that participated in the annual survey.

This award has brought the recognition of one of the best places Indian Insurance industry to work with. Apollo Munich not merely uncomplicated health insurance for its customers but also ensures a healthy work environment for its employees. It understands and acknowledges the hard and the commitment shown by its employees. To further encourage them, Apollo Munich ensures the relationship of trust with its employees. Keeping the focus on achieving good results on work front, Apollo Munich has never lacked in its responsibilities towards the employees. Regular events, mailer, certification and other such customer engaging activities, keeps the spark going. It encourages employee participation in all such activities that results in personal growth along with the professional.

Apollo Munich has received several such awards. It has come up with numerous innovative healthcare products that have received good response in India health insurance market. This has brought several such accolades for the company. In its mission of providing outstanding services to customers, Apollo Munich  Health also uncomplicated the journey for employees. Working in a healthy and enjoyable environment, it ensures employee satisfaction.

Time and again, such surveys have brought awards for Apollo Munich. It has been the proof of the company working in the right direction. Keeping up with work ethics and values, the company believes in celebrating  and working towards the aim of better results every year. It always acknowledges the employee efforts. Taking up with the dedication and the efforts of employees, today Apollo Munich has lot to offer. Beginning with a plan like Easy Health, today it has a long list of comprehensive healthcare plans that can fulfill the needs of customers.

On this occasion of receiving the honor, Antony Jacob- the CEO of Apollo Munich expresses his delight on this recognition. He was pleased to announce the company’s achievement of being rated amongst the top 50 companies to work for in 2012 edition. He also acknowledged the dedication and valuable contribution of employees that took the journey so far. With a higher aim to unveil several such milestones, Apollo Munich will continue giving its best towards the betterment of customers as well as employees.

Driven by the vision ‘to be a trusted leader in the health insurance sector by providing innovative solutions to the citizens of India’, Apollo Munich works to improve the healthcare conditions all over the country. This has lead to it coming up with several innovative ideas formulated in the form of products. Amidst all this, company keeps up with its promise of taking fear out of faces, confusion out of claims, bitter out of medicine, trouble out of treatment and jargon out of words. This has lead to several remarkable outcomes that has highlighted new areas in health insurance sector.

Encouragement and welcoming new ideas and suggestions of employees, Apollo Munich expresses its care for the employees. It further helps people work with dedication and thus put in concentrated efforts. The recent recognition as a Great Place to Work, is a reaffirmation of the robustness of its claim processes and commitment to customers with the promise that if your claim is genuine, we will pay.

Why Apollo Munich Health Insurance

Apollo Munich, a joint venture between the Apollo Group of Hospitals and Munich Health, unfolds various health plans, accidental plans and travel plans to offer health cover o the people of India. The company uses the knowledge and expertise of both partners, who are leaders in their respective field, for the benefits of clients. It is only due to strong partners that Apollo Munich feels proud to say, “We know healthcare. We know Insurance”.

There are many unique features that come with Apollo Munich health insurance plans. Firstly, there is a life-long renewal facility that gives clients an offer to opt for health cover for their entire life. It is the only health insurer that gives this facility. Secondly, Apollo Munich plans’ come with value-added services that looks into preventive health needs of individuals. Thirdly, there is an additional offer to opt for the coverage of critical illness for eight major diseases. Fourthly, there is a portability feature that gives an individual an offer to shift from other health insurer to Apollo Munich.

In addition, there are so many benefits that stand strongly in favor of the question, “Why Apollo Munich Health Insurance?”

When people fall ill, they have to think about a number of things. People need the appropriate policy that can take care of all the medical care woes that they are likely to encounter. The Apollo Munich plans are meant to provide customers with access to world-class medical care without any worries about the cost.

The policies cover more than merely the cost of medical care. This is one of the main reasons due to which people select Apollo Munich as their medical insurance provider in India. The Easy Health, Insure Health and Maxima Plans provide coverage for pre- and post-hospitalization, day-care procedures, etc. The policies provide coverage for critical illness as well. The Easy Travel Plan gives customers the chance to contact the company helpline and ask for assistance and referrals at any time while on the trip. The Personal Accident Insurance Plan too provides several unique benefits like coverage for remodeling of the house if needed medically after an accident.

The numerous value-added services that are provided with the Apollo Munich plans are designed to enable people to focus on staying healthy and not just on curing them when they fall ill. The Healthline and Cashless Hospitalization benefit are both meant to give customers complete and easy access to healthcare.