India-based Apollo Munich Health Insurance has collaborated with Indian Overseas Bank (IOB) to offer its specialised health and personal accident products to the bank’s customers.
The deal will allow Apollo Munich to sell its products in around IOB’s 3,350 branches across the country.
Apollo Munich Health Insurance CEO Antony Jacob was quoted by The Hindu Business line as saying: "By partnering with Indian Overseas Bank under Stand Alone Insurance model, we aim to deepen our reach across the country.
"I am confident that Apollo Munich’s association with the Indian Overseas Bank will enable the bank to offer well researched, unique and customer-friendly products to its customers."
The collaboration will help to provide health insurance plans to around 35 million customers of IOB in the country.
Apollo Munich will provide products, including a sum insured ranging from Rs0.3m ($4,821.38) to Rs1m ($16,071.3).
The health policy will offer double sum insured with the same premium for claims related to listed critical illnesses up to Rs0.5m ($8,035.63) and an annual health check-up benefit worth Rs3500 for sum insured of Rs0.75m ($12,053.4) to Rs1m ($16,071.3).
Image: Apollo Munich to provide health and personal accident products to IOB’s customers. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.