Mumbai/Ahmedabad: Banking on its chain of hospitals and pharmacy outlets in the state, Apollo DKV Insurance Company Ltd., a joint venture between The Apollo Hospitals Group and Europe-based private health insurer DKV AG, expects to generate Rs 5-6 crore worth premium in the financial year 2008-09. "We expect to generate at least 10 per cent of our business in Gujarat. We have also entered into a corporate agency tie-up with Landmark Group which has a prominent presence in the state with interests in automobile, finance and insurance," said C Chandrasekhar, chief marketing officer of Apollo DKV.
For the fiscal ‘09, the company is targeting a premium revenue of Rs 50-60 crore across the country. Having launched its branch office in Ahmedabad, the company now intends to launch more number of offices in cities like Vadodara, Surat, Rajkot and Anand. Through its tie-up with Landmark Group, Apollo DKV intends to expand its distribution network from 200 agents to over 1,500 agents in an year.
Currently, the company offers three variants in health insurance solutions including personal accident, and overseas and domestic travel health insurance. Over a period of time, the company is set to launch other products and services like out patients insurance, disease management and long term care.
Nationally, Apollo DKV will be investing Rs 500 crore over a period of five years to expand its operations and achieve a market share of 10-12 per cent, said Chandrasekhar.
Conscious about the 7-8 per cent growth rate in health inflation, the company is expecting a rise in premium rates in the coming year, he added.
Source: Business Standard
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