Apollo HealthCo to market life, health insurance as corporate agent
Apollo Hospitals group firm Apollo HealthCo is gearing up to market health and term life insurance products of at least eight insurers with whom it has tied up after securing Insurance Regulatory and Development Authority of India (IRDAI) approval to operate as a corporate agent.
A pilot project was successfully completed and the plan is to launch insurance products from as many as 12 insurers within the next two months. For now, it has tied up with four standalone health and four life insurers. All the insurance plans will be bundled with exclusive Apollo benefits with a focus on distributing OPD coverage in future. The company is eyeing marketing of 1 lakh policies and ₹80-100 crore in revenue in the current financial year from the insurance operations, for which it has set up a subsidiary firm, Apollo HealthCo CEO Madhivanan Balakrishnan said on Wednesday (May 14, 2025).
Sensing a growth opportunity by offering additional services to customers of the Apollo 24|7 digital healthcare platform that it operates alongside the retail network of over 6,500 stores Apollo Pharmacy, the company has decided to launch a co-branded credit card to simplify payments and reduce healthcare costs for its customers.
Conceived in collaboration with one of India's leading credit card issuers, the card will offer exclusive benefits from medicines and diagnostics to doctor consultations and wellness services. The card is expected to be launched within the next fortnight, Mr. Balakrishnan told media here.
Health Challenge
He said Apollo HealthCo is also rolling out 'Ultimate Health Programme', a first-of-its-kind preventive health initiative on the Apollo 24|7 platform. Under the programme, customers who undergo a preventive health check and receive a 100% positive report will be refunded the full value of their health package. 'Prevention is the first step to true healthcare. The health challenge is our way of encouraging every individual to prioritise early detection and wellness,' he said.
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