The arrangement will enable the clinic chain's customers to select a full variety of around 36 individual and 12 group products offered by HDFC Life
Apollo Clinic and HDFC Life enter into a corporate agency arrangement. (Credit: HDFC Life)
Apollo Clinic, an Indian multi-specialty clinic chain, has entered into a corporate agency arrangement with HDFC Life for offering its customers the latter’s range of life insurance products and services.
The partnership will cover Apollo Clinic’s customer base of 1.5 million customers spread over 16 states, 22 cities, and a network of over 140 clinics in India.
It will enable the clinic chain’s customers to select a full variety of around 36 individual and 12 group products offered by HDFC Life. These include solutions for protection, retirement, savings and investment, and critical illness.
Apollo Clinic, which is owned by Apollo Health & Lifestyle (AHLL), is said to have signed the agreement as it is in line with its approach of ‘Together towards tomorrow for a healthier & secure future’. The two parties are said to be committed to a long term relationship that is mutually beneficial.
Apollo Clinic chief operating officer Anand Wasker said: “Our Vision is to ‘touch a billion lives’ and we are able to do this by being the first port of call in the neighborhood providing all Primary Healthcare OPD services under one roof via the Apollo Clinic format.
“Customers truly and deeply think about their health when they visit a healthcare centre and we want to offer them superior life Insurance products. HDFC Life& Apollo Clinic both believe that life insurance is a critical component of our customer’s endeavor to live a healthy life; both physically and financially.”
According to HDFC Life, life insurance is a key financial tool for covering mortality, morbidity, and longevity risks. The Indian life insurer said that its set up of multi-channel distribution and robust diversified network helps it to provide life insurance solutions at scale.
HDFC Life management comments on the pact with Apollo Clinic
HDFC Life bancassurance senior EVP and chief values officer Sanjay Vij said: “We believe this arrangement brings immense benefits to customers as they can avail a range of life insurance and health solutions.
“In the midst of the current pandemic, the need for life insurance has become more relatable and relevant. It’s important to secure one’s life financially, for their family. This milestone is a reaffirmation of HDFC Life’s ongoing journey to form strategic partnerships across eco-systems to make life insurance easily accessible to every Indian”.
The life insurance firm, which was founded in 200, is a joint venture between HDFC, an Indian housing finance institution and global investment company Standard Life Aberdeen.