Monday, April 14, 2014

Citibank Joins Hands With Apollo Munich To Offer Specialised Health Insurance Services

Citibank India has joined hands with Apollo Munich to offer healthcare cum insurance services to the emerging urban affluent and high net worth customers.

Citibank India is an Indian private sector bank, and is a subsidiary of Citigroup, a multinational financial services corporation headquartered in New York City, United States.

The services will target about 1.6 crore households. The services would combine financial protection and health & lifestyle management support for non-communicable diseases such as hypertension, diabetes, heart disease, cancers and tumours.

Director of Apollo Munich Health Insurance Shobana Kamineni said, “Our lifestyles have drastically changed over the last few years and the direct outcome is a significant increase in lifestyle diseases. India has been hit by a double whammy of high incidence of communicable diseases, along with a rising burden of chronic diseases.

“The higher out-of-pocket expenditure of around 61% incurred by consumers to address medical and health needs, coupled with around 38 % of emerging affluent without health insurance, demonstrates the potential to serve this segment," Kartik Kaushik, Deputy Country Business Manager, Global Consumer Bank, Citibank India said.

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