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Summer Training Report on

Apollo Munich Optima restore plan

Submitted in Partial Fulfillment of the requirement of

Masters of Business Administration

Under the guidance of: Submitted by:

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ACKNOWLEDGEMENT

I consider myself very fortunate to get the opportunity to conduct the training
Approval and project assignment by OMNIS HEALTHCARE PVT. LTD. I got
opportunity to get practical exposure into actual environment and it provide me the
golden opportunity to make my theoretical concept of performance appraisal in
more clear way.

I am very much thankful to r for providing me the opportunity to do the


training in the .. Also thankful to all the officials at
. For their cooperation during my training for providing me
necessary information without which this project report would not have been
completed.

I have gone through various sites, research books, magazines and newspapers to
get the accurate information for analysis and tried to find the best conclusion.

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PREFACE

Summer training is a part of our studies. All students have to go for summer
training in an industrial or commercial organization. Their main objective is to
arrange an exposure to actual functioning of the real atmosphere surrounding the
organization. There are so many aspects which are more complex in practical and
their treatment is possible only through bookish knowledge.

Practical work experience is the integral part of individual learning. An individual


who is learning managerial concepts has to undergo this practical experience for
being a future executive.

Apollo Munich Health Insurance is the market leader in health insurance


company offer project on Apollo munich optima restore plan to understand the
management work through data provided by them.

The training report is the presentation of our observation at insurance sector

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CONTENTS

Acknowledgment 2

Introduction 5-21

Company Profile 22-32

SWOT Analysis 33-34

Introduction to Topic 35 -43

Research Methodology 45

Conclusion 47

Bibliography 48

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INTRODUCTION

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INTRODUCTION OF INSURANCE:

Insurance is a mechanism that ensures an individual to thrive on adverse


consequences by compensating the individual, his/her loss financially. Every
individual in the world and all activities connected with him/her, be it life,
profession, business, travel or any other pursuits are subject to unforeseen and
uncalled for hazards or dangers. The benefit that an individual enjoys in his life by
owning a car or a house or a factory can be snatched by sudden accident which can
render even the individual immobile, and his family vulnerable. At this critical
juncture, only insurance helps him not only to survive but recover his loss and
continue his life in a normal manner, which would otherwise be unthinkable.

The concept of insurance is quite simple. People, who are in similar trade and are
exposed to the same risks, congregate and some to an agreement that if any
individual member suffers a loss, then the loss will be shared by others and
minimized in order to enable the individual member recover from the loss and
cover his ground. Similarly the different kinds of risks can be identified and
separate groups can be formed to counter such risks and reduce the impact to a
manageable proportion, in which the share could be collected from the members
either after the loss or in advance, at the time of admission to the group. This is an
exemplary sign of humanity and insurance therefore serves the mankind to a great
extent; a point most of the individuals tend to overlook, since monetary aspect is
involved. Now such is for tangible assets.

The concept of insurance has been extended beyond the coverage of tangible
assets. Exporters run the risk of importers in other country defaulting as well as
losses due to sudden fluctuations in the currency exchange rates, economic
policies turmoil. These risk are now insured. Doctors run the risk of being
charged with negligence and can subsequently liable for damages. The amount in
questions can be fairly large, beyond the capacity of individuals to bear. These
are insured. Thus insurance is extended to intangible assets. In some countries
even the voice of a singer, legs of a footballer can be insured, even though the
advantage of spread may not be available in these cases. Satisfaction of economic
needs requires generation of income from some source.

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If the property, which is the source of such income, were lost fully or partially.
Permanently or temporarily, the income too would stop. The purpose of insurance
is a safeguard against such misfortunes few, through the help of the fortune many,
who were
Exposed to the same risk, but saved from the misfortune. Thus the essence of
insurance is to share losses and substitute certainty by uncertainty.

The different types of human activities that come under the umbrella of insurance
are as follows.
House/Office/factory or any moveable - Fire Insurance

Assets destroyed in life.

Shipment or transportation of goods - Marine Insurance


by ship, destroyed in catastrophe.

Jewellery/Cash/Household goods - Burglar Insurance


Stolen or robbed.

Goods in transit by roads or railways - Carrier Insurance


Destroyed.

Theft or accident of vehicles - Vehicle Insurance

Financial cover in ailment/surgery etc. Health Insurance

All these are non-life insurance. In conclusion one can safely say that the
purpose of insurance be it life or non-life is to transfer the financial loss to the
insurance company who spreads in over to the policyholders.

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Characteristics of Insurance :

It is a contract for compensating losses.

Premium is charged for Insurance Contract.

The payment of Insured as per terms of agreement in the event of


loss.

It is a contract of good faith.

It is a contract for mutual benefit.

It is a future contract for compensating losses.

It is an instrument of distributing the loss of few among many.

The occurrence of the loss must be accidental.

Insurance must be consistent with public policy.

Nature of Insurance:

Sharing of Risks

C0-operative Device

Valuation of Risk

Payment made on contingency

Amount of Payment

Large Number of Insured Persons

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SCOPE OR KINDS OF INSURANCE :

Broadly, insurance may be classified into the following categories:

i. Classification on the basis of nature of insurance.

ii. Classification from business point of view.

iii. Classification from risk point of view.

I. ON THE BASIS OF NATURE OF BUSINESS

On the basis of nature of business, insurance may be the following


types:

1. Life insurance

2. Fire insurance

3. Marine insurance

4. Social insurance

5. Miscellaneous insurance.

6. Life insurance

7. Fire insurance

8. Marine insurance

9. Social insurance

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LIFE INSURANCE

Life insurance may be defined as a contractin which the insurer, in


consideration of a certain premium, either in a lump sum or by
other periodical payments, agrees to pay to the assured, or to the
person for chosen benefit the policy is taken , the assured sum of
money, on the happening of a specified event contingent on the
human life.
A contract of life insurance, as in other forms of insurance,
requires that the assured must have at the time of the contract an
insurable interest in his life
Upon which the insurance is affected. In a contract of life insurance,
unlike other Insurance, interest has only to be proved at the date of
the contract, and not Necessarily present at the time when the
policy falls due.
A person can assure in his own life and every part of it, and
can insure for any sum whatsoever, as he likes. Similarly, a wife
has an insurable interest in her husband and vice-versa. However,
mere natural love and affection is not sufficient to constitute an
insurable interest. It must be shown that the person Affecting an
assurance on the life of another is so related to that other person
as to have a claim for support. For example, a sister has an
insurable interest in the life of a brother who supports her.

A person not related to the other can have insurable interest on that
other person. For example creditor has insurable interest in the life
of his debtorto the extent of the debt. A creditor can insure the
life of his debtor up to the amount of the debt, at the time of
issue of the policy. An employee has an insurable interest in the
life of the employer arising out of contractual obligation to
employ him for a Stipulated period at fixed salary. Similarly, from
an employer to the employee who is bound by the contract to serve for
a certain period of time.

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FIRE INSURANCE

Fire insurance is a contract under which the insurer in return for a consideration
(premium) agrees to indemnify the insured for the financial loss which the latter
may suffer due to destruction of or damage to property or goods, caused by fire,
during a specified period. The contract specifies the maximum amount , agreed to
by the parties at the time of the contract, which the insured can claim in case of
loss. This amount is not , however , the measure of the loss. The loss can be
ascertained only after the fire has occurred. The insurer is liable to make good the
actual amount of loss not exceeding the maximum amount fixed under the policy.

Under fire insurance, the following persons have insurable interest in the subject
matter:-

Owner

Mortgagee

Pawnee

Pawn broker

Official receiver or assignee in insolvency proceedings

MARINE INSURANCE

A contract of marine insurance is an agreement whereby the insurer


undertakes to indemnity the assured in a manner and to the extent thereby
agreed, against marine. Losses incidental to marine adventure perils of the
seas, such as fire, war perils, pirates, rovers, thieves, captures, Jettisons,
barratry and any other perils which are either of the like, kind or may be
designed by the policy.

SOCIAL INSURANCE

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Social insurance has been developed to provide economic security to weaker
sections of the society who are unable to pay the premium for adequate
insurance. Pension plans, disability benefits, unemployment benefits,
sickness insurance, etc. Are the various forms of social insurance.

II. Classification from business point of view

From business point insurance can be classified into two broad categories:

1. Life insurance; and

2 General Insurance

GENERAL INSURANCE

General insurance business refers to fire, marine , and miscellaneous insurance


business whether carried on singly or in combination with one or more of them
but does not include capital redemption business and annuity certain business.

III. Classification from risk point of view

From risk point of view, insurance can be classified into four categories:

1. Personal insurance

2. Property insurance

3. Liability insurance

4. Fidelity guarantee insurance

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FIDELITY GUARANTEE INSURANCE

In this type of the insurer undertakes to indemnify the assured (employer)

in consideration premium, for losses arising out of fraud,or embezzlement

Insurance Sector Reforms:

In 1993, Malhotra Committee headed by former Finance Secretary and RBI


Governor R. N. Malhotra was formed to evaluate the Indian insurance industry
and recommend its future direction.
The Malhotra committee was set up with the objective of completing the reforms
initiated in the financial sector. The reforms were aimed at creating a more
efficient and competitive financial system suitable for the requirements of the
economy keeping in mind the structural changes currently underway and
recognizing that insurance is an important part of the overall financial system
where it was necessary to address the need for the similar reforms.

In 1994, the committee submitted the report and some of the key
recommendations Included:

i) Structure:

Government stake in the insurance Companies to be brought down to 50%

Government should take over the holdings of GIC and its subsidiaries so that
these subsidiaries can act as independent corporations.

All these insurance companies should be given greater freedom to operate.

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ii) Competition

Private Companies with a minimum paid up capital of Rs. 1bn


should be allowed to enter the industry.

No company should deal in both Life and General Insurance


through a single entity.

Foreign companies should be allowed to enter the industry with


the collaboration with the domestic companies.

Postal Life Insurance should be allowed to operate in the rural


market.

Only one State Level Life Insurance Company should be


allowed to operate in each state.

iii) Regulatory Body

The Insurance Act should be changed.

An Insurance Regulatory body should be set up.

Controller of Insurance (Currently a part from the Finance


Ministry) should be made independent.

iv) Investments

Mandatory Investments of LIC Life Fund in government


securities to be reduced from 75% to 50%.

GIC and its subsidiaries are not to hold more than 5% in any
company.
(There current holdings to be brought down to this level over a
period of time)

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v) Customer Service

LIC should pay interest on delays in payments beyond 30 days.

Insurance companies must be encouraged to set up unit linked


pension plans.

Computerization of operations and updating of technology to be


carried out in the insurance industry.

The committee emphasized that in order to improve the customer


services and increase the coverage of the insurance industry should
be opened up to competition. But at the same time, the committee
felt the need to exercise caution as any failure on the part of new
players could ruin the public confidence in the industry.
Hence, it was decided to allow competition in a limited way by
stipulating the minimum capital requirement of Rs. 100 crores. The
committee felt the need to provide greater autonomy to insurance
companies in order to improve their performance and enable them
act as independent companies with economic motives. For this
purpose, it had proposed setting up an independent regulatory
body.

The Insurance Regulatory and Development Authority:

Reforms in the Insurance sector were initiated with the passage of


the IRDA Bill in Parliament in December 1999. The IRDA since
its incorporation as a statutory body in April 2000 has fastidiously
stuck to its schedule of framing regulations and registering the
private sector insurance companies.
The other decisions taken simultaneously to provide the supporting
systems to the insurance sector and in particular the life insurance
companies were the launch of the IRDAs online service for issue
and renewal of licenses to agents. The approval of institutions for
imparting training to agents has also ensured that the insurance
companies would have a trained workforce of insurance agents in

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place to sell their products, which are expected to be introduced by
early next year. Since being set up as an independent statutory
body the IRDA has put in a framework of globally compatible
regulations. In the private sector 12 life Insurance and 6 general
insurance companies have been registered.

Restructuring of GIC

The GIC was converted into a national re-insurer and its four
subsidiaries were restructured as independent companies. In
December, 2000 the Parliament passed a bill de-linking the four
subsidiaries from GIC in July, 2002. These are National insurance
co.ltd the oriental insurance co.ltd The new India assurance co

United India Insurance Co. Ltd.

Life insurance industry today

There are 24 insurance companies registered as Life


Insurance companies. The list is given below.

Non-Life insurance industry today

There are 28 insurance companies registered as General


Insurance companies.

There are 5 standalone Health Insurance companies.

Rest of the companies handle all types of general insurance


business.

List of life insurance companies:

1. AEGON Religare Life Insurance 13.Icici Prudential


2. Aviva Life Insurance 14. IDBI Federal Life Insurance
3. Bajaj Allianz Life Insurance 15. India First Life Insurance
16. Kotak Mahindra Old Mutual
4. Bharti AXA Life Insurance Life Insurance

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5. Birla Sun Life Insurance 17. Life Insurance Corporation
6. Canara HSBC OBC Life Insurance 18. Max Life Insurance
7. DHFL Pramerica Life Insurance 19. PNB MetLife
8. Edelweiss Life Insurance 20. Reliance Life Insurance
9. Exide Life Insurance 21. Sahara India Life Insurance
10. Future General Life Insurance 22. SBI Life Insurance
11. Star Union Dai- I chai Life insurance 23. Sriram Life Insurance
12. HDFC Standard Life Insurance 24. Tata Aig

List of standalone health insurance companies:

1. Apollo Munich Health Insurance

2. Cigna TTK Health Insurance

3. Max Bupa Health Insurance

4. Religare Health Insurance

5. Apollo munich health insurance

What is Healthcare

You have heard of the saying Health is Wealth. The word


Health was derived from the word health, which means
soundness of the body. Over a period of time, modern medicine
has evolved into a complex science and the goal of modern
medicine is no longer mere treatment of sickness but includes
prevention of disease and promotion of quality of life. A widely
accepted definition of health is the one given by World Health
Organization in 1948.

Definition

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World Health Organization (WHO): Health is a state of complete
physical, mental and social wellbeing and not merely the absence
of disease.

Determinants of health

It is generally believed that the following factors determine the


health of any individual:

a) Lifestyle factors

Lifestyle factors are those which are mostly in the control of the
individual concerned e.g. exercising and eating within limits,
avoiding worry and the like leading to good health; and bad
lifestyles and habits such as smoking, drug abuse, unprotected
sex and sedentary life style (with no exercise) etc. leading to
diseases

b) Environmental factors

Safe drinking water, sanitation and nutrition are crucial to


health, lack of which leads to serious health issues as seen all
over the world, especially in developing countries.e.g. People
working in certain manufacturing industries are prone to
diseases related to occupational hazards such as Asbestos in
workers in asbestos manufacture and also diseases of the lungs
in coal miners.

c) Genetic factors

Diseases may be passed on from parents to children through


genes. Such genetic factors result in differing health trends
amongst the population spread across the globe based on race,
geographical location and even communities It is quite obvious
that a countrys social and economic progress depends on the
health of its people. A healthy population not only provides
productive workforce for economic activity but also frees precious
resources which is all the more crucial for a developing country

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like India. At an individual level, ill health can cause loss of
livelihood, inability to perform daily essential activities and push
people to poverty and even commit suicide.
Thus spend on healthcare usually forms a significant part of
every countrys GDP

Factors affecting the health system

The Indian health system has had and continues to face many
problems and challenges. These, in turn, affect the nature and
extent of the healthcare system and the requirement at the
individual level and healthcare organization at the structural level.
These are discussed below:

Demographic or Population related trends:

India is second largest populated country in the world. This


exposes us to the problems associated with population growth.
The level of poverty has also had its effect on the peoples ability
to pay for medical care.

Social trends:

Increase in urbanization or people moving from rural to urban


areas has posed challenges in providing healthcare. Health issues
in rural areas also remain, mainly due to lack of availability and
accessibility to medical facilities as well as affordability. The move
to a more sedentary lifestyle with reduced need to exercise oneself
has led to newer types of diseases like diabetes and high blood
pressure.

Life expectancy:

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Life expectancy refers to the expected number of years that a child
born today will survive. Life expectancy has increased from 30
years at the time of independence to over 60 years today but does
not address the issues related to quality of that longer lifespan.

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Evolution of Health Insurance in India:

While the government had been busy with its policy decisions on healthcare, it
also put in place health insurance schemes. Insurance companies came with
their health insurance policies only later. Here is how health insurance
developed in India:

a) Employees State Insurance Scheme

Health Insurance in India formally began with the beginning of the Employees
State Insurance Scheme, introduced vide the ESI Act, 1948, shortly after the
countrys independence in 1947. This scheme was introduced for blue-collar
workers employed in the formal private sector and provides comprehensive
health services through a network of its own dispensaries and hospitals.
All workers earning wages up to Rs. 15,000 are covered under the contributory
scheme wherein employee and employer contribute 1.75% and 4.75% of pay
roll respectively; state governments contribute 12.5% of the medical expenses.
The benefits covered include:

o Free comprehensive healthcare at ESIS facilities

o Maternity benefit

o Disability benefit

o Cash compensation for loss of wages due to sickness and survivorship


and
o Funeral expenses in case of death of worker

It is also supplemented by services purchased from authorized medical


attendants and private hospitals. The ESIS covers over

65.5 million Beneficiaries as of March 2012.

B).Central Government Health Scheme:

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The ESIS was soon followed by the Central Government Health Scheme (CGHS),
which was introduced in 1954 for the central government employees including
pensioners and their family members working in civilian jobs. It aims to provide
Comprehensive medical care to employees and their families and is partly funded
by the employees and largely by the employer (central government).The
contribution from employees is quite nominal though progressively linked to salary
scale Rs.15 per month to Rs.150 per month. In 2010, CGHS had a membership
base of over 800,000 families representing over 3 million beneficiaries.

c) Commercial health insurance

Commercial health insurance was offered by some of the non-life insurers before
as well as after nationalization of insurance industry. But, as it was mostly loss
making for the insurers, in the beginning, it was largely available for corporate
clients only and that too for a limited extent.
In 1986, the first standardized health insurance product for individuals and their
families was launched in the Indian market by all the four nationalized non-life
insurance companies. Today, more than 300 health insurance products are available
in the Indian market.
The health insurance market today consists of a number of players

some providing the health care facilities called providers, others the insurance
services and also various intermediaries

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COMPANY PROFILE

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Industry Health Insurance

Founded 2007

Key people Mr. Antony Jacob


(Chief Executive officer)

Mr. Krishnan Ramachandran (Deputy


chief executive officer)

Products Health insurance, Accident


insurance, Travel insurance

Website www.apollomunichinsurance.com

Headquarters Gurugram , Haryana , India

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OVERVIEW

Apollo Munich Health Insurance Company Ltd. is a private sector health


insurance company in India. Founded on 8 August 2007, it is a joint venture
between the Apollo Hospitals group and Munich Health, one of the three business
segments of Munich Re; a leading reinsurance company based in Germany.
Apollo Munich Health Insurance is ISO 9001:2008 certified for Design,
Distribution and Servicing of health insurance products. It has 100 physical offices
all over India and more than 2,200 employees.

Apollo Munich Health Insurance Company Ltd. was originally known as Apollo
DKV Insurance Company Ltd.; a joint venture between Apollo Hospitals and DKV
AG, a subsidiary of ERGO Group; a group of insurance companies owned
by Munich Re. The stake holding of the two companies was in the ratio of 74:26
(Apollo Hospitals Group: DKV AG).

Apollo DKV was renamed Apollo Munich Health Insurance in December, 2009.
Munich Re acquired additional 23.27% shares of Apollo Munich Health Insurance
in January, 2016, increasing its shareholdings to 48.75%

Apollo Munich Health Insurance was one of the first standalone health insurance
companies to enter the market after liberalization of the Indian insurance industry
and end of the tariff regime.

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Capital

Apollo Munich Health Insurance said it plans to infuse Rs 50 crore capital


during the last quarter of the current fiscal to expand business. As of now it
is adequately capitalized but the company will require an additional capital
closer to the end of this fiscal of about Rs 50 crore, Apollo Munich Health
Insurance CEO Antony Jacob said currently, its paid-up capital stands at Rs
357 crore.
Having witnessed a growth of 27 per cent last fiscal, Jacob said, the
company is expecting increase in new business of 30 per cent in 2016-17.
The company aims at the Gross Written Premium (GWP) of Rs 1,300 crore
by the end of March 2017.

Vision

To be a trusted leader in the health insurance sector by


providing innovative solutions to the citizens of India.

Mission

Constantly introduce innovative Health Insurance


and Wellness solutions that meet customer needs.

Build an organization on the principles of


transparency, trust and integrity.

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Create opportunities for our employees to learn
and grow in an enjoyable work culture.

Constantly deliver on our commitments to all our


stakeholders.

Values & Customer Care Principles

1. Inspiring passion

2. Delivering on our promises

3. Being responsive to our customers

4. Managing relationships

5. Thinking and acting transparently

6. Compassionate

7. Accountable

8. Responsive

9. Expert

Apollo munich innovations standardize by IRDAI

Apollo Munich Health Insurance has brought in several innovations that


have been made industry standards by the Insurance Regulatory and
Development Authority of India (IRDAI). These standardizations are
described by IRDAI as follows.

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A) Portability
The right of an individual health insurance policy holder (including family
cover), to transfer the credits gained for pre-existing conditions and time-
bound exclusions if they decide to switch from one insurer to the other or
from one plan to another plan of the same insurer, provided the previous
policy has been maintained without any break.

B) No claim-based loading
An insurer cannot increase the premium owed by the policy holder for the
same sum insured on the basis that the insured made a claim in the
previous policy year for an illness or accident.

C) Lifelong renewals
A policy holder can renew their policy for their lifetime

PRODUCTS

Health insurance

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a) Individual Health Plan

An individual health insurance policy is designed to offer


coverage to the policyholder at the time of medical exigency.
The policy covers the individual up to the limit of sum
insured. With multiple add-on features and benefits like
cashless facility in over 4000+ network hospitals and easy
claim procedure, the individual health insurance plans cover
various illnesses and medical treatment expenses.

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The policy benefits and features may vary from policy to
policy

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b) Family Health Plan

A family health insurance policy covers all the members


against various diseases and illnesses. Also known as family
floater policy, a fixed sum insured covers all the members
proposed under the plan and it can be availed by any or all
the members for one or more claims during the tenure of the
policy.

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The policy benefits and features may vary from policy to
policy

c) Senior Citizen Plan


Optima Senior is our plan exclusively for Senior
citizens. The plan offers comprehensive cover for
medical treatment of illnesses and accidents
requiring in-patient hospitalization.

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Travel Insurance
Travelling is no more a rare, complicated .this is due to huge leaps in technology,
transportation and communication. Every day there are people travelling across borders
and seas with the risks associated with travelling? Insurance companies provide travelers
with travel insurance that protect them from unanticipated events like accidents, medical
emergencies and even contingencies such as flight delays, baggage delay and lost
passport.

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Accidental Insurance Plan

Accident insurance helps you pay for the medical and out-of-pocket costs that you
may incur after an accidental injury. This includes emergency treatment, hospital
stays, and medical exams, and other expenses.

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Award Winning Products
1. Dengue Care
Awarded the Best Health Insurance Plan award at FICCI Healthcare Excellence Awards 2016,
[9]
Dengue Care is the only insurance plan in India covering a specific contagious disease.
2. Energy
Energy has won Innovation of the Year award by Asia Insurance Awards and Fintelekt It is a
health insurance plan specifically for those with Type II diabetes, pre-diabetes or hypertension. It
has no waiting period for hospitalizations arising from these conditions. The plan includes a
health management program and a reward system that rewards the policyholder with a discount
on renewal premium and additional reimbursement of medical expenses
3. Optima Restore
Having won multiple innovation awards by Asia Insurance Review, Finnoviti, Digirati and
Fintelekt, Optima Restore is a health insurance policy that restores the entire sum insured if it is
used up in the policy period, at no extra cost. The product also offers 50% of sum insured as
bonus in a claim-free year, up till 100% of sum insured for two consecutive claim-free years

SWOT ANALYSIS

STRENGTHS:

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1. Earlier entry:

Apollo munich commences it business in 2007 as very much early as earlier


as compared to 4 other health companies.
2. Business Growth:

They growth is very much higher as compared to other co.

3. Emerging Middle Income Group-

Indias middle income group is rapidly increasing and would be

emerging as a profitable market.

2. Business Growth:

They growth is very much higher as compared to other co.

3. Emerging Middle Income Group-

Indias middle income group is rapidly increasing and would be

emerging as a profitable market.

WEAKNESS:

1. Low investment-

2. Lack of awareness:

There is a lack of awareness about health insurance among people

.3. Increasing competition:

There is rising competition in health insurance market from other co. such as
Hdfc health, max bupa etc.

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OPPORTUNITIES:

1. Creation of stronger demand:


Indias improving economic fundamentals will support
faster growth
in per capita income in the coming years, which will
translate into stronger demand for insurance products.

2. Strong future growth:


Strong growth can be sustained for 10-20 years,. There is
plenty of room for growth in personal accident, health and
other liability classes.

3. Rise in Income and Awareness:


Rising household income and risk awareness will be the
rise in more demand for these lines of health business in
the future.

THREATS:

1. New Arrival:

There is danger of coming new arrival into market in health


sector

2. Govt. policies:

There is chance of opposing rules and regulations by govt.

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INTRODUCTION TO TOPIC

OBJECTIVE OF THE STUDY

o To know about market share of star health in


Indian health insurance sector?
o To understand about the company policy.
o How to calculate premium?

Apollo optima restore plan :


Optima restore individual plan

Optima Restore plan offers a unique Restore benefit that


automatically reinstates the basic sum insured in case you
exhaust it in a policy year.
How it works: If you use up your coverage in an individual
policy and fall ill with another illness, Apollo Munich
restore the entire sum insured for you to use, at no extra
charge.
It also rewards you with a multiplier benefit in case you
dont claim in the policy. The multiplier benefit doubles the
sum insured in 2 claim free years! Now with the Stay
Active benefit enjoy premium discounts at renewal.

Optima restore Family plan

Optima Restore plan offers a unique Restore benefit that


automatically reinstates the basic sum insured in case you

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exhaust it in a policy year. How it works: If one of the
family members exhaust the floater sum insured during the
year and any other family member falls ill later during the
same insured period, we will restore the entire amount at
no extra charge.
It also rewards you with a multiplier benefit in case you
dont claim in the policy. The multiplier benefit doubles
your basic sum insured in 2 claim free years!

a) Apollo munich Optima restore individual


plan

Eligibility :

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Benefits :

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Stay healthy package :

Renewal Policies

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Exclusion :

b) Apollo munich Optima restore Family plan

Eligibility :

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Benefits :

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Stay healthy active :

Renewal policies :

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Exclusion :

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RESEARCH METHODOLOGY

DATA COLLECTION:

Primary: Through structured Questionnaire

Secondary: Through Internet, Journals, Newspapers,


Company website, brochure & Misc. sources.

Procedure: Survey method

RESEARCH INSTRUMENT: Structured Questionnaire.

SAMPLING PLAN

Sample Design:

Convenience

sampling Sample

size: 30

Sample Area: Study was conducted at Dwarka, New Delhi

Sample unit: Data was gathered from student, government


job & private person

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QUESTIONAIRE DESIGN
QUESTIONNAIRE ANALYSIS

Respondents =30

Respondents Responded =30

Response Rate =100%


Respondents are taken from student, private, government
and business sectors.

(1)Have you got a health insurance plan for you and your
family?

(A) Yes (b) no

Yes No Total
12 18 30

(2)If yes, whether your company provides cashless


treatment?

(A) Yes (b) no

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Yes No Total
9 3 12

(3)Do you think health insurance is important in today


world?

(a) Yes (b) No

Yes No Total
21 9 30

(4)If yes, what according to you should be minimum sum


insured?

(A)3lacs (B) 5lacs (C) 10lacs (D) 15lacs

3lacs 5lacs 10lacs 15lacs


12 10 6 2

Name Age.....................

Family members..........................

Occupation.................................

Mobile no..................................

Address................................

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FINDINGS

People are unaware about health insurance


product

Most of people know about only life insurance


companies .e.g. LIC

They consider the fact health insurance is


important in today world.

CONCLUSION

There are 5health insurance companies in India and


the market share of the Apollo health Insurance is
1.89% in insurance sector & growth rate is 33.6% in
July 2016 as compared to July 2015. The company
has almost 10 per cent of the retail health insurance
market, which has a total size of around Rs 7,000
crore market

The policy of the company is designed according to


the budget and requirements of the customer.

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BIBLIOGRAPHY

WEBSITES:

www.google.com

www.Apollomunichinsurancer.com

www.wikipedia.org

NEWSPAPERS:

Times of India
Indiatoday.in