“Apollo perfectly fits into our strategy, to establish private health insurance in growth markets, bridging insurance, medical services and the delivery of healthcare.
“We are convinced that private health insurance with full-coverage and long-term products will enable significant increase in market penetration and enhance access to quality healthcare. We expect to cover one million lives in the next two-three years,” says Jochen Messemer, Director, Apollo DKV.
Apollo DKV would start with six regional offices in major cities in the second year of its operation and would expand to 25 cities.By 2010 it plans to cover over 100 cities across the country.
Apollo DKV is the second health insurance company after Star Health and Allied Insurance, which was launched in 2006. Incidentally, though health insurance industry is growing at 30 per cent, the health insurance penetration in the country is only 2 per cent. “Against the potential of Rs 15,000 crore business, the 13 health insurers operating in the country managed to collect only Rs 3,300 crore in 2006-07,” Kamineni was quoted.
Source-Medindia
ANN/J