Apollo HealthCo, a subsidiary of the Apollo Hospitals group, is set to launch a wide range of life and health insurance products in collaboration with multiple insurers.
The company has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to operate as a corporate agent. Apollo HealthCo has already partnered with at least eight insurers and is preparing to market insurance products from twelve insurers in the coming months. The initial pilot project has been successfully completed.
Apollo HealthCo has partnered with four standalone health insurers and four life insurers. The focus will be on offering insurance plans bundled with exclusive Apollo benefits, including outpatient (OPD) coverage. The company is targeting the sale of 1 lakh policies and expects to generate ₹80-100 crore in revenue in the current financial year, according to CEO Madhivanan Balakrishnan.
Recognizing a growth opportunity, Apollo HealthCo plans to offer additional services to customers using the Apollo 24|7 digital healthcare platform. The company is launching a co-branded credit card in collaboration with a leading credit card issuer. The card will offer exclusive benefits, ranging from discounts on medicines and diagnostics to free doctor consultations and wellness services. The card is expected to launch within the next two weeks.
In addition to insurance products, Apollo HealthCo is rolling out the ‘Ultimate Health Programme’ on the Apollo 24|7 platform. This innovative preventive health initiative offers customers a full refund for their health check-up package if they receive a 100% positive report. CEO Balakrishnan emphasized that prevention is the first step to true healthcare, and this program encourages individuals to prioritize early detection and wellness.
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