Latest news with #MadhivananBalakrishnan
Yahoo
17-05-2025
- Business
- Yahoo
Indian digital health platform Apollo 24
Apollo 24|7, the digital health platform of Indian multinational healthcare group Apollo Hospitals, has secured regulatory approval to operate as a corporate agent. Apollo 24|7 Insurance Services will soon begin distributing health, life and general insurance products. The company has set a financial goal, aiming to achieve Rs800m ($9.35m) in revenue during its first year of operation, reported UNI. According to Apollo HealthCo CEO Madhivanan Balakrishnan, Apollo 24|7 Insurance Services has concluded a pilot phase and intends to launch offerings from 12 insurance providers in the next two months. Balakrishnan said: "With our entry into insurance distribution, Apollo 24|7 Insurance services will help customers choose plans that truly match their health needs. Backed by AI and rich health insights, this marks a big step in making healthcare more personalised, affordable and integrated for every Indian." In addition to health, life and general insurance products, Apollo 24|7 Insurance Services plans to incorporate Apollo benefits into its plans, with a particular emphasis on OPD coverage going forward. The company is also introducing a credit card, developed in partnership with a prominent credit card issuer in India, which will offer specific benefits such as discounts on medicines, diagnostics, consultations and wellness services. This initiative targets Apollo HealthCo's user base and is expected to be launched shortly. Earlier this year, Apollo Hospitals partnered with Ainnova Tech, a healthcare technology company, to integrate AI into its disease detection and prediction capabilities. "Indian digital health platform Apollo 24|7 ventures into insurance distribution " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hans India
15-05-2025
- Business
- Hans India
Apollo 24/7 forays into insurance, credit card biz
Hyderabad: Apollo 24|7, India's largest omni-channel digital health platformof Apollo Hospitals Group, has announced a series of major expansions aimed at strengthening its footprint in Telangana and reshaping the healthcare experience through innovation, accessibility, and affordability. As part of its expansion plan, Apollo 24|7 has announced its entry into the insurance and credit card segments. With regulatory approval secured, Apollo 24|7 Insurance, a fully-owned subsidiary, will soon offer Health, Life, and General Insurance products, leveraging its AI-powered platform and rich health data to tailor coverage to individual needs. The company aims to generate Rs80 crore in its first year of insurance operations. Simultaneously, Apollo will also launch India's first health-focused credit card in collaboration with a leading issuer. The card will offer exclusive benefits across medicines, diagnostics, doctor consultations, and wellness services, targeting Apollo's 150 million users. 'Apollo 24|7 is on a mission to make healthcare more affordable, integrated, and preventive. With Telangana as a strategic pillar, we're driving the next chapter of digital healthcare in India,' Madhivanan Balakrishnan, CEO, Apollo HealthCo, told the media here on Wednesday. In a bid to promote preventive healthcare, Apollo has launched the 'Ultimate Health Challenge'—a pioneering initiative that refunds the full cost of health check packages to users who receive 100% positive reports. This effort is designed to encourage early detection and proactive health management. Since launching in 2020, Apollo 24|7 has rapidly evolved into a comprehensive digital healthcare ecosystem. Telangana, especially Hyderabad, has emerged as a key growth region, accounting for 17 per cent of Apollo's nationwide pharmacy sales. With over 900 Apollo Pharmacy stores across the state—500 of them in Hyderabad—the platform fulfills 4.5 million monthly pharmacy orders, making quality medicines available within 1–2 km of most residents. One of the standout achievements in the region has been the successful pilot of Apollo's 19-minute medicine delivery service, a first-of-its-kind healthcare quick commerce initiative. Over 80,000 orders have been delivered within this record time, and the company plans to expand this service across Hyderabad and eventually throughout Telangana.
Time of India
14-05-2025
- Business
- Time of India
7 forays into Insurance, plans to launch products from 12 insurers in two months
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Apollo 24|7, an omni-channel digital health platform , announced its foray into insurance with 'Apollo 24|7 Insurance Services' on Wednesday. Apollo 24|7 Insurance services |7 Insurance services, a fully owned subsidiary of Apollo HealthCo, has secured regulatory approval to operate as a corporate agent and will soon begin distributing Health, Life, and General Insurance products on its platform for its customers, Apollo HealthCo CEO Madhivanan Balakrishnan said in a company has already completed a successful pilot and plans to launch insurance products from 12 insurers within the next two months, he plans will be bundled with exclusive Apollo benefits, with a strong focus on distributing OPD coverage in future, Balakrishnan said adding the company targets Rs 80 crore in revenue in the first year of operations."With our entry into insurance distribution , Apollo 24|7 Insurance services will help customers choose plans that truly match their health needs. Backed by AI and rich health insights, this marks a big step in making healthcare more personalised, affordable, and integrated for every Indian," Balakrishnan 24|7 also announced the upcoming launch of health-first credit card designed to simplify payments and reduce healthcare costs for its 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 release said. Targeting Apollo HealthCo's 150 million strong user base, the card is expected to launch within the next fortnight, it 24|7's 19-minute medicine delivery service will soon be expanded across Hyderabad and gradually rolled out across other parts of Telangana, the release added.
The Hindu
14-05-2025
- Business
- The Hindu
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.
News18
21-04-2025
- Business
- News18
A Medicine Alternative To Blinkit, Zepto: Apollo Healthcare CEO Discusses Expansion Of 19-Minute Delivery Model
Last Updated: The company is working to make the availability of medicines in both acute and chronic cases faster and currently, in Delhi-NCR, 48 per cent orders are delivered within 19 minutes while across India, 82 per cent orders are delivered within a day If you can buy a packet of chips in 10 minutes, why not your blood pressure pills? What Blinkit, Zepto and other quick-commerce delivery apps did for groceries, Apollo Pharmacy is trying to do for medicines with just 19-minute delivery. However, stakes are much higher in the e-pharmacy business, which involves delivering life-saving drugs, Madhivanan Balakrishnan, chief executive officer, Apollo Healthco, told News18 in an exclusive interaction. Just like buying groceries, people are now buying medicines more often in smaller amounts instead of planning and buying in bulk. But at some level, the comparison between grocery apps and Apollo may become 'fundamentally flawed", Balakrishnan said, while discussing the company's plan to strengthen its 19-minute medicine delivery. Apollo Healthco is the parent company of Apollo Pharmacy and Apollo 24|7, an omni-channel health platform that offers online medicine delivery, online consultations, home lab tests and digital health records among other features. 'Stakes are much higher in healthcare delivery. Delayed medicine isn't just an inconvenience as it can directly impact someone's well-being." There are a lot of 'nuances and sensitivities" while delivering life-saving drugs, Balakrishnan said, adding: 'But, with Apollo's legacy in pharmacy, an integrated supply chain, our technology and a 6,500-strong store network, we are well placed to lead this shift allowing us to deliver speed with trust." The company said it is working to make the availability of medicines in both acute and chronic cases faster and currently, in Delhi-NCR, '48 per cent orders are delivered within 19 minutes" while across India, 82 per cent orders are delivered within a day. The major difference between grocery apps and Apollo is the delivery of 'prescription medicines" which are often time-sensitive and critical for a consumer's health. Balakrishnan believes that the company's quick delivery model is designed to meet that urgency—without compromising on safety or compliance. 'Every prescription order goes through a robust, multi-layered validation process. The moment an order is placed, it's digitally screened for prescription authenticity, ensuring it meets regulatory standards." After being verified digitally, the company told News18 that each prescription is reviewed and approved by a registered pharmacist before dispatch, adding critical human oversight to the automated flow. All of this, the company claims, is tightly integrated with its real-time inventory systems, which help locate the nearest store for fastest fulfilment. Quick Delivery Biz Set To Expand Soon, the quick delivery business will be expanded further. 'Our aim is to strengthen our quick delivery offerings profitably to more cities in the days to come," the CEO said. The quick delivery service is currently live in major metros like Delhi/NCR, Hyderabad, Bengaluru, and Kolkata, including some parts of Chennai and Mumbai. 'The service will be rolled out in 10 more cities over the next six months, with a goal of covering an additional 5,000 pin codes by year-end," he said, explaining that the next phase will see them expand to 20 additional cities. 'To enable this, we are investing in technology and expanding our retail pharmacy footprint too." How Did The Journey Start? Apollo 24|7 was launched just before the Covid-19 pandemic in 2020. 'The platform began with a two-hour delivery promise, rooted in the insight that nearly 62 per cent of health needs are acute and demand immediate attention." 'Quick delivery has always been at the core of our proposition and speed became the cornerstone of our approach from day one. Last year, we upped the game and launched 19-minute delivery with an understanding that acute medical needs require quick delivery." The company initiated the pilot in Delhi-NCR, and upon receiving a favourable response, extended it to five other cities. 'Quick commerce behaviour of more sporadic and frequent orders vis-à-vis planned bulk orders is being observed in pharmacy purchases as well. This has accelerated the need for real-time inventory visibility, automated prescription checks, optimised rider routing, and micro-warehousing for faster last-mile delivery." Backed by Apollo's supply chain expertise and pharmacy network, the company believes it is well-placed to bring efficiency to doorstep delivery. 'Continuous investments in technology, infrastructure, and operations have since helped us evolve into a truly omni-channel healthcare platform—offering not just medicines, but doctor consultations, diagnostics, wellness products, and more. We want Apollo 24|7 to become India's first port of call for all things health." Overall, Balakrishnan said the primary aim is to make sure 'we are able to deliver 90 per cent of orders the same day and we are close to achieving that milestone. At present, we are at 82 per cent." He added that currently in Delhi/NCR, 48 per cent orders are delivered within 19 minutes. In the brick-and-mortar segment, Apollo is the largest pharmacy chain in the country, with 80 per cent of India's population within a 40-minute reach of its services. According to the company's data, close to nine lakh transactions happen in these stores daily. 'We are focused on deepening our presence in high-demand Tier 2 and Tier 3 cities, while working towards placing an Apollo Pharmacy within five minutes of every household and workplace in India's top metros." How Is e-Pharmacies Business Evolving? The omni-channel approach is gaining traction, with digital-first players expanding offline and vice versa, combining digital speed with physical trust. 'This is especially relevant in Tier 2 and 3 cities, where consumers still do not have an online-first mindset." However, scaling up presents challenges. 'Partnering with licensed pharmacies instead of relying solely on dark stores ensures trust and adherence to norms," Balakrishnan said, explaining that the company relies on analysing data, forecasting demand and streamlining the delivery process. News18 India delivers breaking news, top headlines, and live updates on politics, weather, elections, law and crime, much more. Stay informed with real-time coverage and in-depth analysis of current events across India. Location : New Delhi, India, India First Published: April 21, 2025, 15:46 IST News india A Medicine Alternative To Blinkit, Zepto: Apollo Healthcare CEO Discusses Expansion Of 19-Minute Delivery Model
