“Apollo Munich Health Insurance”的意思、由来-开放百科全书

Apollo Munich Health Insurance has 180+ physical offices all over India and more than 3,200+ employees.

History

Apollo Munich Health Insurance Company Ltd. was originally known as Apollo DKV Insurance Company Ltd.; a joint venture between Apollo Hospitals and DKV AG, a subsidiary of ERGO Group; a group of insurance companies owned by Munich Re. The stake holding of the two companies was in the ratio of 74:26 (Apollo Hospitals Group: DKV AG).^[2]

Apollo DKV was renamed Apollo Munich Health Insurance in December, 2009. Munich Re acquired an additional 23.27% shares of Apollo Munich Health Insurance in January, 2016, increasing its shareholdings to 48.75%.^[3]

Initial challenges and strategies

The domain of health insurance in India was limited to public sector companies till 1999.^[4] The fixed rates, terms and conditions of the products insurers could offer were also strictly regulated.^[5]

Apollo Munich Health Insurance was one of the first standalone health insurance companies to enter the market after liberalisation of the Indian insurance industry and end of the tariff regime.

The company’s initial strategy was to lay stress on innovation and target the group insurance business. But it was unable to garner a sufficient number of clients. Apollo Munich’s products “married healthcare financing with healthcare management”,^[6] thus leading to higher premiums and less takers for the products. Apollo Munich’s exposure to group insurance business also resulted in a high claims ratio or loss ratio.^[6]

In 2009, Antony Jacob, previously finance director of RSA Insurance Group for Middle East and Asia, joined Apollo Munich as CEO and decided to switch the company’s focus to retail insurance. He also introduced the concept of corporate healthcare management instead of standalone healthcare financing. These steps worked in favour of Apollo Munich Health Insurance. Optima Restore, a policy that automatically restores the entire sum insured, for no extra cost, in case it is used up in the policy period, won Apollo Munich the Asia Insurance Award for Innovation in 2012.^[7]

References

1. ^{{cite web|title=Management Profile|url=http://www.apollomunichinsurance.com/management-profile.aspx|accessdate=23 September 2016}}
2. ^¹{{cite web|title=Apollo Munich History, Apollo DKV to Apollo Munich|url=http://www.apollomunichinsurance.com/apollo-munich-history.aspx|website=www.apollomunichinsurance.com|accessdate=22 September 2016}}
3. ^{{cite web|title=Munich Re Press Release|url=https://www.munichre.com/en/media-relations/publications/press-releases/2016/2016-01-25-press-release/index.html|accessdate=22 September 2016}}
4. ^{{cite web|title=Insurance Regulatory and Development Authority of India Act, 1999|url=https://www.irda.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo108&flag=1|accessdate=23 September 2016}}
5. ^{{cite web|title=Effects of Liberalisation on Indian Insurance Market-An Overview by C.S. Rao|url=https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo251&flag=1&mid=IRDA+Journal|accessdate=23 September 2016}}
6. ^¹{{cite web|title=Apollo Munich: Healthy profits from Unhealthy people|url=http://forbesindia.com/article/boardroom/apollo-munich-healthy-profits-from-unhealthy-people/35759/1?utm=slidebox|publisher=Forbes India|accessdate=22 September 2016}}
7. ^{{cite web|title=Apollo Munich's Optima Restore wins Innovation of the Year Award|url=http://www.bimabazaar.com/insurance-news-update/1348-apollo-munichs-optima-restore-wins-the-innovation-of-the-year-award-at-the-asia-insurance-industry-awards-2012|publisher=Bimabazaar.com|accessdate=22 September 2016}}