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Apollo Munich Health Insurance Reviews

Mumbai, Maharashtra

4.5/ 5

2 reviews

Apollo Munich Health Insurance Company Limited was a prominent private sector health insurance provider in India. Initially incorporated in November 2006, the company officially commenced its journey on August 8, 2007, as Apollo DKV Insurance Company Limited. It was established as a strategic joint venture between the Apollo Hospitals Group, Asia's largest integrated healthcare provider, and DKV AG, Europe's largest private health insurer and a subsidiary of the ERGO Group owned by Munich Re. The initial shareholding ratio between Apollo Hospitals and DKV AG was 74:26. In December 2009, the company underwent a rebranding and was renamed Apollo Munich Health Insurance. Later, in January 2016, Munich Re increased its stake to 48.75% by acquiring an additional 23.27% of the shares. Headquartered in Gurugram, India, Apollo Munich operated as a pure-play health insurance specialist with over 100 physical offices and a workforce exceeding 2,200 employees across the country. Guided by its corporate tagline, "Let's Uncomplicate," the company focused on simplifying the health insurance buying and renewal process. In 2012, former Indian cricket captain Sourav Ganguly was appointed as the brand ambassador to promote its transparent and customer-centric values under the leadership of CEO Antony Jacob. The company's diverse product portfolio covered health, personal accident, and travel insurance solutions tailored for individuals, families, senior citizens, and corporate groups. Notable offerings included family floater plans like 'Easy Health' and 'Optima Super,' critical illness coverage through 'Optima Vital' (covering 37 critical illnesses), and 'Optima Restore,' which featured a unique 100% restoration of the sum insured. It also designed specialized plans like 'Energy' for individuals managing type 2 diabetes and hypertension. Apollo Munich provided seamless cashless hospitalization facilities across a robust network of over 4,000 partner hospitals in India and maintained a high policy renewal rate of over 80%. Its commitment to innovation and service quality earned it several accolades, including being named the "Health Insurance Company of the Year" in India in 2014 and receiving ISO 9001:2008 certification. A significant corporate transition occurred in January 2020 when HDFC Limited completed the acquisition of a 51% stake in Apollo Munich Health Insurance. Following this acquisition, the company was renamed HDFC ERGO Health Insurance Limited and operated temporarily as an independent legal entity. The transition culminated on November 13, 2020, when HDFC ERGO Health officially merged with HDFC ERGO General Insurance Company Limited after securing necessary approvals from the National Company Law Tribunal (NCLT) and the Insurance Regulatory and Development Authority of India (IRDAI). Today, the integrated business operates under HDFC ERGO General Insurance, providing clients access to an expanded suite of health and non-health insurance products.