First Standalone Health Insurer in Asia Pacific Regionto Win General Insurance Company of the Year Award at AIIA
New Delhi, November 07, 2017: Apollo Munich Health Insurance Company, a joint venture between integrated healthcare provider, Apollo Hospitals Group, and theMunich Re Group, has been conferred with 21st Asia Insurance Industry Awards in the “General Insurance Company of the Year” category.
The award recognizes Apollo Munich’s outstanding contribution in demonstrating market leadership during the qualifying period via innovation in products, services, practices, responsiveness to end-users and intermediaries, initiatives in boosting the image of insurance in society, narrowing the protection gap, and showcasing exceptional business growth through professionalism and sound management.
Speaking on this occasion Mr. Antony Jacob, CEO, Apollo Munich Health Insurance said, “We are extremely delighted and humbled to be the first standalone health insurer in Asia-Pacific region to win General Insurance Company of the Year at AIIA. Ever since our journey started 10 years ago, we have been living our purpose of ‘Making India Health Confident’. We do so not only by bringing world class healthcare within the reach of every individual by providing innovative solutions to the citizens of India, but also by partnering with our customers in leading healthier lives. Our belief primarily lies in un-complicating the health insurance system for the customers and make it more transparent.Achieving this gratitude by such a prestigious body and renowned industry stalwarts further corroborates that our efforts are making a difference to the society at large. We are hard at work on our next round of innovations, and this award will spur us on to greater success.”
In the short span of a decade since its 2007 launch, Apollo Munich has accomplished a number of firsts in India for its products: lifelong renewal, no sub-limits, no claim-based loading and co-payment, portability, restore and multiplier benefits and the first standalone dengue product. These have influenced regulation and also inspired other insurers to follow suit.
The AIIA is recognised as the most coveted Awards of the industry. It has defined criteria, a transparent process, is independently audited and adjudicated by a panel of esteemed Judges, themselves stars of the industry. With more than 400 entries received for the Awards, the judging panel was made up of 23 industry leaders from around the world. The 21st Asia Insurance Industry Awards are organised and hosted by Singapore-based Asia Insurance Review.
Criteria for winning the award was:
- Sets leading professional standards that other insurers are measured against
- Offers an extensive range of products and services catering to the needs of both corporate and individual clients
- A partner and adviser to corporate clients in adapting to the changing risk landscape
- Narrows the protection gap of the society
- Demonstrates in-depth knowledge and understanding of the region through its strategy
- Responsive to the needs of both end-users and intermediaries
- Industry leadership as shown through:
- Innovation in products and procedures
- Pro-actively embracing digital and social media
- Transparency in the selling process
- Customer-centric service
- Outstanding risk management and claims management experience
- Sound management and financial results
- Business growth
- Enhancing the image of insurance in the society