Bank’s
exclusive Bancassurance partner for health insurance solutions
Unique
support and service mechanism for the Bank’s customers
Paperless
processes to ensure minimum TAT for policy issuance and service
Mumbai, January 27, 2016:Axis Bank, India’s third largest private sector bank today announced its exclusive partnership with Apollo Munich Health Insurance Company toofferits customers bespoke health insurance products and services. The strategic partnership with the health insurance company, a JVbetween Asia's largest healthcare group, ‘The Apollo Hospitals Group’ and the world leader in health insurance, ‘Munich Health’ will offer customers unique health insurance plans with value added benefits such as health advisory services and access to wellness portal etc., under their ‘Health Eco System’.
Commenting on the partnership,Rajiv Anand, Group Executive & Head Retail Banking, Axis Bank said,
“Over the past couple of years, we have observed the exponential rise in the
cost of healthcare and the need for customized and affordable health insurance
solutions.With the objective of ensuring the health and wellbeing of our
customers, we are delighted to announce our exclusiveBancassurance partnership
for health insurance with Apollo Munich,which will help us further expand our
existing bouquet of offerings and put forth a compelling proposition.”
Apollo Munich Health Insurance Company, along with
the Bank will design and offer customized health insurance products to the
Bank’s customers, as per their requirements. Policy issuance and service will
be driven by paperless online processes, ensuring minimum turnaround time. A
brief of theuniquebenefits for customers are:
· Automatically restoring the basic sum insured in
case the policyholder exhausts his/her sum insured in a policy year
· Wide range of sum insured options ranging from Rs 3
lacs to 50 lacs
· A health insurance plan with no sub-limits, no
copays or room rent limits
· High Pre and Post hospitalization cover of 60 and
180 days respectively
· Coverage for all “Daycare Procedures”
· Health checkup benefits
· Extensive network of hospitals
· In-house claim settlement
Speaking about the tie up
with Axis Bank, Antony Jacob, CEO,
Apollo Munich Health Insurance said, “We are excited to partner with Axis
Bank and offer its customers uncomplicated and innovative health insurance
solutions. Through bancassurance, health insurance penetration is expected to
grow rapidly as there are more than one lakh bank branches in the country, with
a majority located in rural and semi urban areas. We at Apollo Munich believe
in the potential banks hold as a distribution channel. They can aid us in
strengthening our reach in the tier two and three cities overnight.”
He further added “Going
forward this partnership will develop more innovative solutions to meet
specific needs of different customer segments of the bank. In addition, Axis
Bank customers will have access to expert health services that promote healthy
living.”
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