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Monday 17 November 2014

Apollo Munich to spend ₹10 cr on football-centric initiatives

Apollo Munich Health Insurance Co Ltd is now looking to extend its Indian Super League (ISL) football connect with a variety of marketing and branding initiatives.

The company, a co-sponsor for the Kolkata franchise Atletico de Kolkata, will be spending approximately ₹10 crore over the next three years to carry out such football-centric initiatives.

According to Antony Jacob, CEO, Apollo Munich will look to bring to light the various health issues, including lifestyle diseases, and indirectly promote health insurance.
 

Targeting Tier 2, 3, 4 and 5 cities, most of its immediate marketing activities will be centred around Kolkata and the suburbs.

“Football has started gaining popularity across the country. And we would like to take this opportunity to create health awareness amongst the kids and their parents,” he said.

India has one of the lowest health insurance covers per person.

Initiatives

Market sources indicate that just 75 million people in the country (out of 1.2 billion) have health insurance cover.

The premium per person, per annum in India is as low as ₹2,000.

The company currently has 10 offerings in the health insurance segment and is looking to have an annual premium of ₹850 crore by the end of this fiscal.

For FY-14, its annual premium collections stood at ₹685 crore.

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