Dena Bank and Apollo Munich Health Insurance have announced a bancassurance tie-up under which the insurance company’s products will be sold through the bank. This will make Apollo Munich’s health and personal accident insurance products available to over 20 million Dena Bank customers.
Apollo Munich has customised several of its products to offer them via Dena Bank. Among the exclusive benefits are an equal amount of personal accident cover for the sum assured of the chosen policy, and waiver of co-payment and sub-limit for cashless treatments at over 4,500 hospitals in India.
The comprehensive policy will cover in-patient hospitalisation, home treatment, pre and post hospitalisation, day care, Ayush benefits, etc. You can buy both individual and family products with the sum insured ranging from Rs.2 lakh to Rs.10 lakh.
The health insurance company offers bancassurance through several banks already, with the prominent ones being Axis Bank, Canara Bank, Citibank and Indian Overseas Bank. The partnership with Dena Bank will help it expand its reach.
Antony Jacob, Chief Executive Officer, Apollo Munich Health Insurance, said, “Since our first bancassurance tie-up in 2013, we have seen a growing trend in the number of people buying health insurance policies through their banks as a result of the specialised features and the heightened awareness of the benefits of health insurance. Our tie-up with Dena Bank helps to strengthen our vision to be a trusted leader in the health insurance sector by providing innovative solutions to the citizens of the country.”
Ashwani Kumar, Chairman & Managing Director of Dena Bank, said, “We are delighted to partner with Apollo Munich Health Insurance for bringing best-in-class health insurance products to our customers. The partnership will greatly benefit our banking customers and help Apollo Munich Health Insurance access a wide potential customer base.”
Apollo Munich is part of the business group that also runs the popular Apollo Hospitals and Apollo Pharmacies.