Kochi, Nov 12: On Wednesday, Nov 12 Apollo DKV Insurance Company Limited announced launch of its operations in Kerala through an exclusive tie-up with the Muthoot Pappachan Group to offer comprehensive health insurance solutions.
Apollo DKV Chief Marketing Officer (CMO) C Chandrasekhar said the symbiotic business association was poised to help the company to leverage Pappachan Group's ditribution network across the state and make health insurance solutions readily available to all sections of the society. He said the health insurance sector has great potential as only four per cent of the population had insurance cover and the sector was growing at the rate of 35 per cent for the last five years.
''The company is planning to insure around ten million people in the near future, which would have a total premium of about Rs 2,000 crore,'' he noted.
Apollo DKV, a joint venture between Apollo Hospitals Group and Europe's largest integrated health insurer Deutsche Krankenversicherung (DKV), with new and innovative insurance products would try to cater to the needs of all people across the country, he said.
Mr Chandrasekhar said the company had similar associations with Gemini Group in Andhra Pradesh and Landmark Group in Gujarat to distribute its products in the respective States.
The Muthoot Pappachan group, established in 1939, is into retail banking and financial services, real estate, hospitality industry, infrastructure development, wind power and automobiles.