Apollo launches health insurance JV with DKV
The Apollo Hospitals Group and DKV AG on Wednesday launched a standalone health insurance company Apollo DKV Insurance Company, reports Gaurav Choudhury.
The Apollo Hospitals Group and DKV AG, Europe’s largest private health insurer and a Munich Re Group company, on Wednesday launched a standalone health insurance company Apollo DKV Insurance Company.
The Apollo Hospitals Group will hold 74 per cent stake in the new company, DKV AG will hold the remaining 26 per cent, with a total investment of Rs 108 crore.
Shobana Kamineni, director Apollo Hospitals Group said the products would be launched by the middle of September.
"Pricing will be risk-adequate and at par with other players. Our products, however, will have much more value-added services built-in and will give true value for money," said Shobana Kamineni, director, Apollo Hospitals Group.
"We expect to cover one million lives in the next two to three years," said Jochen Messemer, director, Apollo DKV.
“We will approach the market with products that will have differentiated features including outpatient products, and long term care plans”, Kamineni said.
The company plans to have a national presence across 25 cities by the second year of the operations and spread to over 100 locations by 2010.
“Our entry into health insurance is a logical extension of our continued contribution to healthcare delivery in India”, she said.