It 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, said Apollo HealthCo CEO Madhivanan Balakrishnan. All plans will be bundled with exclusive Apollo benefits, with a strong focus on distributing OPD coverage in future. The company targets Rs 80 crore in revenue in the first year of operations
Chennai: 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 release.
The company has already completed a successful pilot and plans to launch insurance products from 12 insurers within the next two months, he said.
All 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 said.
Apollo 24|7 also announced the upcoming launch of health-first credit card designed to simplify payments and reduce healthcare costs for its customers.
Developed 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 said.
Apollo 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.