Summer Internship Project

On
SWOT ANALYSIS ON APOLLO MUNICH HEALTH INSURANCE

Submitted in Partial Fulfillment of the requirement of Bacholer of

Business Administration

Under the guidance of:

Dr. Simran Waraich

Submitted by: Aniket Bhau

ACKNOWLEDGEMENT

Training report is never the sole product of the person whose name appears on
the cover. Many people have lent technical assistance and service. I am
graduated to MR. Parul sharma whose continuous encouragement and willing
cooperation have been a great help in the preparation of this training report.

I wish to express my gratitude to Mr.Parul sharmayour project guides that

helped me in providing many books.

I express my deep sense of gratitude to Dr.Simran Waraich for her valuable

suggestion and up to date guidance at many stages of report which has
enabled me to complete the project on schedule.

Last but not the least I thank all who are responsible for the success of this
training report

Aniket bhau
DECLARATION

I Aniket Bhau student of AMITY GLOBAL BUSINESS SCHOOL have

undertaken this report in my training under the title “SWOT ANALYSIS ON
APOLLO MUNICH HEALTH INSURANCE”
All the information in this reports is my own and original and not copied from
anywhere else.

I also declare that I have done my work sincerely and accurately even then if
any mistake or error had kept in it, I request the readers to point out these errors
and guide me to remove these errors in future.
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. I did my
summer training in APOLLO MUNICH HEALTH INSURANCE

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 health Family Optima Plan
to understand the management work through data provided by them.

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

ANIKET BHAU
CONTENT

S.NO TITLE PAGE.NO

1 CHAPTER-1 ITRODUCTION
1.1 WHAT IS SWOT ANALYSIS.
1.1.1 Swot analysis assessment
1.1.2. history of swot
1.1.3 4 A’s of model
1.1.4 Aim of SWOT
1.1.5 How to do swot
1.1.6 synopsis of swot
1.1.7 principle of swot
1.1.8 process of swot
1.1.9 utilizing of swot
2. WHAT IS INSURANCE
 What is health insurance
3.ROLE OF IRDA IN
INSURANCE SECTOR

4.COMPANIES PROFILE

2 CHAPTER-2 Literature review

3 CHAPTER-3 SWOT analysis of

Apollo Munich

4 CHAPTER-4 RESEARCH
METHODLOGY
5 CHAPTER-5
 CONCLUSION
 BIBLOGRAPHY
CHAPTER-1 INTRODUCTION

1.1 WHAT IS SWOT ANALYSIS?

SWOT is a key sorting out contraption used to study the characteristics, deficiencies,
openings and threats to an undertaking. It joins choosing the target of the task and
seeing within and outside elements that are impeccable and horrendous to
accomplishing that objective. The attributes and inadequacies when in doubt ascend out
of inside a connection, and the chances and risks from outer sources.

The SWOT assessment is inconceivable for structure up an understanding of an

affiliation or situation and fundamental authority for a wide scope of conditions in
business, affiliations and for individuals. The SWOT examination approach headings
give a nice structure to surveying strategy, position and course of an association, thing,
errand or individual (work). Doing a SWOT examination can be incredibly clear, at any
rate its characteristics lie in the versatility and experienced usage of a swot assessment.
Remember the SWOT catch is simply bit of the picture.

the SWOT assessment is a vital piece of the undertaking organizing process:

Strength: properties of the connection that help accomplish the undertaking objective.

Weaknesses: properties of the association that stop accomplishment of the undertaking

objective.

Opportunities : outside conditions that help accomplish the undertaking objective.

Threat: outside conditions that could hurt the undertaking.

A SWOT assessment is a planning instrument used to get a handle on the Strengths,
Weaknesses, Opportunities, and Threats related with an undertaking or in a business. It
fuses exhibiting the target of the business or experience and perceiving within and outer
parts that are strong or negative to accomplishing that objective.

SWOT is as regularly as conceivable utilized as an essential piece of a basic planning

process. SWOT or TOWS is a constriction for Strengths, Weaknesses, Opportunities,
Threats.

There are several different strategies for graphically tending to a SWOT assessment on
a structure or framework. Several varieties of a SWOT assessment orchestrate/cross
area are appeared on this page – utilize the one which is most legitimate to your
application and favored style. While from the earliest starting point this (A SWOT
assessment) takes after a crucial model and simple to apply, I can say without a doubt,
that to do a SWOT appraisal that is both stunning and huge, requires time and an
essential asset.

An authentic SWOT evaluation is unfathomable possibly by only a solitary individual.

It requires a participation.
 1.1.1 Is a SWOT Analysis an assessment?

The verbalization "SWOT ANALYSIS" is in itself an entrancing term. Many recognize

the SWOT isn't an assessment, in any case an outline of a huge amount of past
evaluations – paying little notice to whether those were not over 15 minutes of more
diminutive than common conceptualizing with yourself before your PC. The assessment
or much more satisfactorily understanding comes after the SWOT once-over has been
made.

The SWOT Analysis Matrix Model

Internal

Strengths Weaknesses
Positive Negative or potential to be negative ©rapidbi.com
Opportunities Threats

External

An Alternative SWOT Matrix:

SWOT ANALYSIS Strengths Weaknesses

Opportunities Offensive-make the most of Defensive-watch competition

these closely

Threats Survive -turn around

Adjust-restore strengths
©rapidbi.com
1.1.2.Establishment and History of the SWOT Analysis

The wellsprings of the SWOT assessment technique is credited by Albert

Humphrey, who drove an investigation adventure at Stanford University
during the 1960s and 1970s using data from many top associations. The goal
was to recognize why corporate masterminding failed. The ensuing
exploration recognized different key regions and the instrument used to
research all of the essential districts was called SOFT assessment. the present
is a Fault and dreadful later on is a Threat." In 1964 Urick and Orr at a
gathering changed the F to a W, and it has stuck as that, soFt to sWot\

Historical scenery of SWOT –

Learned, Christensen, Andrews and Guth

A couple of experts reference the 1965 creation "Business Policy, Text and
Cases" by Learned, Christensen, Andrews and Guth (from Harvard
University) in which a structure is used which eagerly resembles a SWOT
assessment, in any case these words are not used and decidedly the framework
isn't depicted as compactly as we most likely am mindful it today. In this book
the terms used are:

Characteristics, Weaknesses, openings, perils, condition and issues of

various ventures.

"A Concept of Corporate Strategy" for a huge piece of the method framework.

In solitude, it is said that a SWOT assessment is trifling

It works best when part of a general strategy or in a given setting or condition.

This method may be as fundamental as:

• Objective or target

• SWOT assessment

• Assessment or extents of accomplishment method

 • Activity

1.1.3 This is once in a while known as the 4As model – Aim,

Assess, Activate and Apply where:

 Aim – is the Goal or target

 Assess – is simply the SWOT survey

 Activate – recognize the qualities or proportions of

progress and use them to advantage

 Apply – make a move

Overview SWOT Matrix:

SWOT Analysis POSITIVE/ NEGATIVE/

HELPFULto HARMFUL/
achieving the goal RISKSto
achieving the
goal

INTERNAL Origin Strengths

Weaknesses
facts/ factors of the Things that are
Things that are
organization good now, maintain
bad now, remedy,
them, build on them
change or stop
and use as
 leverage them.

EXTERNAL Origin Opportunities Threats

facts/ factors of the Things that are Things that are
environment in which good for the future, bad for the future,
the organization prioritize them, put in plans to
operates capture them, build manage them or
on them and counter them
optimize ©rapidbi.com

1.1.5 Aim of a SWOT Analysis:

 Uncover your upper hands

 Investigate your prospects for deals, gainfulness and item

advancement

 Set up your organization for issues

 Take into account the improvement of emergency course of

action

A SWOT investigation is a procedure to distinguish where you are solid and

helpless — where you ought to guard and assault. The consequence of the
procedure is a 'game plan', or 'activity plan'. The swot examination can be
performed on an item, on an administration, an organization or even on a
person. Done appropriately, a SWOT investigation will give you the BIG
PICTURE of the MOST IMPORTANT FACTORS that impact SURVIVAL
and PROSPERITY. Just as a PLAN to ACT ON.
1.1.6 HOW TO DO SWOT?

Regardless of whether you or your group are future making arrangements for
explicit items, work, individual or some other region, the SWOT examination
procedure is the equivalent.

Stage 1 of a swot investigation Information accumulation – In the present

time and place… List all qualities that exist now. At that point thusly, list all
shortcomings that exist now. Be reasonable however dodge humility!

You can direct one-on-one meetings. Or on the other hand get a gathering
together to conceptualize. A touch of both is often best.

You'll first need to get ready inquiries that identify with the particular
organization or item that you are investigating. You'll discover a few inquiries
and issues underneath to make you go.

When encouraging a SWOT – look for knowledge through savvy addressing

and testing

Stage 2 of a swot investigation What may be… List all open doors that exist
later on. Openings are potential future qualities. At that point thus, list all
dangers that exist later on. Dangers are potential future shortcomings.

Stage 3 of a swot investigation Plan of activity… Review your SWOT lattice

with the end goal of making an activity intend to address every one of the four
zones.
 1.1.7 In synopsis a swot examination:

 Qualities should be kept up, based upon or utilized.

 Shortcomings should be cured, changed or halted.

 Openings should be organized, caught, based on and improved.

 Dangers should be countered or limited and oversaw.

A SWOT examination can be exceptionally abstract, and two individuals

seldom concoct a similar last form of a SWOT investigation. It is an amazing
device be that as it may, for taking a gander at the negative calculates first
request to transform them into positive elements. Utilize a SWOT
examination/structure as guide and not a solution.

1.1.8 Straight forward principles for an effective SWOT examination

 Be practical about the qualities and shortcomings of your association

 The Analysis ought to recognize where your association is today, and

where it could be later on.

 Be explicit. Stay away from hazy areas

 Continuously dissect in connection to your opposition for example

superior to or more terrible than your opposition

 Keep your SWOT examination short and straightforward – yet just as

short and basic as the application or circumstance requests – it is about
'qualification for reason'

 Keep away from superfluous multifaceted nature and over (swot)

examination

 There is no point posting a chance (O) if a similar open door is

accessible to contenders

 It is inconsequential to state you have qualities (S) if your rivals have

 the equivalent

What makes a SWOT examination work?

Because of the community oriented nature of a swot investigation, your

working gathering will require certain characteristics to succeed:

 Trust – The inquiries that a SWOT investigation will raise, especially

in the Weaknesses and Threats classes might be awkward. Your
gathering must be at a point in its working relationship where
shortcomings and potential dangers can be confronted transparently
and dispassionately.

 Capacity and readiness to execute change.

 Assorted variety – The group directing the SWOT examination should

be illustrative of your whole arranging group.

 Time – Taking time to do an exhaustive SWOT investigation and

evaluation will enable your gathering to push ahead in building up a
functional arrangement.

1.1.9 Steps/Process to do a SWOT

 Set up that your alliance has the fundamental segments to effectively

lead a SWOT examination (above).

 Gather the gathering that will direct the SWOT examination

 Set up gathering times (if the SWOT examination won't be finished in

one 'sitting'

 Appropriate/total the swot examination instrument/layout exclusively

 In the gathering meeting, consolidate individual answers. Work

together on every classification. Complete the examination.

 Talk about how to utilize the data assembled from the SWOT
investigation to educate your subsequent stages.
1.1.9 Utilizing SWOTs with an Objective or Goal

In the event that a SWOT investigation doesn't begin with

characterizing an ideal end state or goal, it risks being an activity for an
activity (for example futile). A SWOT investigation may (should) be
consolidated into a vital arranging model. On the off chance that a
reasonable target has been distinguished, SWOT investigation can be
utilized to help in the quest for that objective. For this situation, SWOT
examination are:

 STRENGTH: properties of the association that are useful to

accomplishing the target.

 WEEKNESSES: qualities of the association that are unsafe to

accomplishing the target.

 OPPORTUNITIES: outer conditions that are useful to

accomplishing the target.

 THREATS: outer conditions that are unsafe to accomplishing

the target.

Decision-makers can then use the outcomes from a SWOT examination to

decide if the goal is feasible, given the subsequent investigation and outline.
In the event that the goal isn't achievable an alternate goal must be chosen and
the procedure rehashed.

2.WHAT IS INSURANCE?

Assurance is an understanding, addressed by a procedure, where an

individual or substance gets financial security or reimbursement against
setbacks from a protection organization. The association pools clients'
risks to make portions progressively sensible for the shielded.

Security procedures are used to help against the risk of cash related
incidents, both of every kind imaginable, that may result from mischief
to the shielded or her property, or from commitment for mischief or
 harm caused to an untouchable.

HELATH INSURANCE.

Human services inclusion is a kind of insurance incorporation that pays for

remedial and cautious expenses brought about by the protected. Medicinal
inclusion can compensate the shielded for expenses realized from malady or
harm, or pay the thought provider truly. It is regularly fused into supervisor
favorable position packages as a techniques for appealing quality agents. The
cost of medicinal inclusion premiums is deductible to the payer, and the
favorable circumstances got are charge absolved.

3.ROLE OF IRDA IN GELATH INSURANCE.

Protection Regulatory and Development Authority of India Act was passed by

the Parliament in the year December 1999. The Act got President's
endorsement in the year January 2000. The Act expectations to ensure the
enthusiasm of the protection strategy holders. It additionally plans to
empower and guarantee the methodical development of the protection
business. The Insurance Regulatory and Development Authority is a statutory
body framed by the Insurance Regulatory and Development Authority of
India Act, 1999.

Protection is a fiscal instrument, which decreases the monetary weight in the

occasions of outcomes, and gives a money related wellbeing. A particular sort
of misfortune can be secured by paying a little premium. If there should be an
occurrence of misfortune, the Insurance Company will pay a specific measure

of cash, which will help in lessening the money related weight.

Protection Products

There are an assortment of Insurance items to oblige the various needs of

various individuals. The client has a ton of alternatives to browse contingent
upon their needs. The client is these days set up to investigate and contrast the
strategies of different organizations and each other and pick the best among
them. The protection business has a huge market to target. The Insurance
items act more as a security device than as an approach to spare expense. As
there is more request from the client for new, valuable and improved
protection items, there is a sound challenge among the back up plans. This
goes about as a help to the client. Improved items alongside appealing plans
have been structured by the open segment to give intense challenge to the
private segment.

The market is loaded with various types of protection items. Value,

administration and items are the primary factors that separate one item from
another. No Company can present another item before taking an earlier
endorsement from Insurance Regulatory and Development Authority.

 Protection Regulatory and Development Authority of India

 Arrangement of the Authority

 The Authority Comprises of the accompanying individuals referenced

underneath;-

 The Authority contains director, entire time individuals and low

maintenance individuals and together they go about as a gathering of
individuals and work mutually not separately like Controller of
Insurance.

 The Authority will keep on working even in instances of death or

renunciation.

 The Authority is a body corporate with never-ending progression and

a typical seal.

 The Authority has the ability to sue or can be sued in its own name.

Forces and Functions of the Authority

 Area 14 of the Insurance Regulatory and Development Authority of

 India Act, 1999 states the forces and elements of the IRDA. The
power and elements of the Authority are as per the following:

 The Authority intends to secure the enthusiasm of the protection

policyholders in the issues identified with give up estimation of the
approach, settlement of protection claims, insurable intrigue, selection
by arrangement holders and so on.

 The specialist gives the Certificate of Registration to the candidate. It

can likewise reestablish, adjust, pull back, suspend or even drop the
enrollment of the candidate

 The Authority expresses the capabilities, set of principles and

reasonable preparing for the go-betweens and protection operators.

 The Authority advances the effectiveness in the direct of the matter of

protection.

 The Authority expresses the set of principles for surveyors and

misfortune assessors.

 The Authority advances and controls the expert associations that are
associated with the protection business. It duties expenses and charges
for conveying the reason for this Act.

 The Authority has the ability to call for data, lead examination, review
and enquiry of the safety net providers, protection mediators and
association associated with the matter of protection.

 The Authority controls and manage the rates, gains terms and
conditions that are offered by the safety net providers concerning the
general protection business.

 The venture of assets by the insurance agencies are managed by the

Authority.

 The Authority controls the edge of dissolvability.

 The Authority gives question goals between the guarantors and

protection delegates.

 The Authority controls the working of Tariff Advisory Committee.

 The Authority set out the level of premium salary of the safety net
 provider to finance the plans for advancing and controlling the expert
associations.

 The Authority set out the level of disaster protection and general
protection business that can be completed by the safety net provider in
the country or social division.

Job of Insurance Regulatory and Development Authority (IRDA)

To secure the enthusiasm of and guarantee only treatment to protection

arrangement holders.

To energize and guarantee the orderly development of the protection business

to profit the normal man and help in bringing monetary development.

To set, advance, screen and apply elevated requirements of trustworthiness,

reasonable managing, money related reasonability and capacity of those it
directs.

To guarantee lucidity, accuracy, straightforwardness while managing the

protection arrangement holder. The Authority guarantee that right data about
the items and administrations is passed on to the arrangement holders
alongside making them mindful of their duties.

To give contest goals component and guarantee rapid settlement of certifiable

cases. The Authority must check protection tricks and different unfortunate
activities.

To make appropriate strides against conditions where set guidelines don't win
or improperly upheld.

To achieve the ideal measure of self-guideline in everyday exercises of the

business solid with the prerequisites of the prudential guideline.

Impact of Insurance Regulatory and Development Authority (IRDA)

1. Impact on Regulation of Insurance Industry

Protection Regulatory and Development Authority directs the Insurance

area. It intends to ensure the enthusiasm of the protection strategy holders.
It --additionally supports and guarantee the methodical development of the
protection business.
2.Impact over assurance of policyholders

IRDA has extraordinary effect over the assurance of policyholders. The

Authority intends to give reasonable treatment to every one of the
policyholders.

3.Impact over Awareness about Insurance

IRDA is finding a way to expand mindfulness among the majority about the
advantages of protection. There is a different Consumer training site of IRDA
to teach individuals about protection.

4.Impact over Insurance Market

There is a radical impact of Insurance Regulatory and Development Authority

over protection advertise. IRDA directs the protection showcase and
guarantee the deliberate and quick development of the protection advertise.

5.Impact over Development of Insurance Product

All the insurance agencies must take endorsement from Insurance Regulatory
and Development Authority before propelling any new item or before rolling
out any improvements in the current item or pulling back an item. The back
up plans who wishes to dispatch another item or make changes to the current
item or pulling back an item will present an application to the Authority in the
recommended structure alongside the vital subtleties and explanations behind
the change reasons. The expert may request extra data whenever required. In
the event that no data is requested, at that point the back up plan can begin
selling the item. The safety net provider can presents the new item in the wake
of permitting it for 60 days for non-life and 30 days for life for leeway by
IRDA. This may be deferred because of absence of insights concerning the
item, which is important to evaluate the item before endorsement is given by
the Authority.

6.Impact on Competition among Private and Public segment

As there is more request from the client for new, gainful and improved
protection items, there is a sound challenge among the guarantors. This goes
about as an aid to the client. Improved items alongside appealing plans has
been planned by the open area to give extreme challenge to the private
division.
7.Impact over Banks and Post Offices

With the expanding mindfulness among individuals about the advantages of

protection, the progression of assets have moved to the protection business
from Banks and Post Offices. Protection has turned into a mechanism for
covering misfortunes and dangers as well as become a prominent method to
spare expense.
 4.COMPANY PROFILE

APOLLO MUNICH HEALTH INSURANCE.

Ltd.

Industry Health Insurance

Founded 2007

Key people Mr. Antony Jacob[1]

Products Health insurance, Accident insurance, Travel

insurance

Number of 4500+ (as of August 2019)

employees

Parent Apollo Hospitals and Munich Health

Website https://www.apollomunichinsurance.com
Apollo Munich Medical coverage Organization Ltd Outline :

Apollo Munich Medical coverage Organization Ltd is a joint

endeavor between one of the biggest coordinated social insurance
suppliers crosswise over Asia, Apollo Clinics, and the wellbeing
business division of Germany-based Munich Re, Munich Wellbeing.
Apollo Munich started activities in India in 2007, targeting giving
high-class social insurance administrations to the regular man of the
nation. The organization proposes a wide scope of protection items,
explicitly intended to meet the human services prerequisites of a
person.

Why Purchase Apollo Munich Medical coverage Approach?

The expanding cost of medicinal treatment at the clinic has prompted

the expanding interest for medical coverage plans. The current way
of life of an individual makes them progressively inclined to
maladies and diseases, which further outcomes in developing odds of
one's ailment. This is the place Apollo Munich Medical coverage
organization ltd gives you an ideal arrangement. Fêted as one of the
most confided in wellbeing guarantors in Indian Protection Segment,
Apollo Munich offers a wide array of medical coverage plans with
numerous focal points and advantages to fit each financial limit and
necessity. The organization tries to make fantastic medicinal services
benefits effectively available to each part and client. Moreover, the
organization likewise offers basic and clear strategy wording so as to
make the method straightforward and helpful for approach searchers.
It wouldn't generally be a misrepresentation to state that Apollo
Munich has made medical coverage really basic for everybody,
throughout the times of its tasks.

31
 HISTORY OF COMPANY

Apollo Munich Health Insurance Company Limited was recently

known as Apollo DKV Insurance Company Limited. The organization
began as a joint endeavor between Apollo Group of Hospitals and DKV
AG, Europe's biggest private wellbeing safety net provider (Deutsche
Krankenversicherung AG) on the eighth of August, 2007. Apollo DKV
began a voyage to re-characterize the medical coverage division in
India. The stake holding of the two organizations were in the
proportion of 74:26 (Apollo Group of Hospitals—DKV AG).

About the advertisers:

DKV, with its central command in Cologne, Germany, was the market
head in Europe and one of the main 5 medical coverage suppliers on
the planet. The organization was spoken to crosswise over Europe and
Asia. Since DKV was a piece of the ERGO Group, it was a piece of
Munich Re Group, one of the world's biggest re-back up plans.

Apollo Group of Hospitals is the biggest medicinal services supplier in

Asia. The gathering changed the manner in which human services was
seen in the country. Apollo Hospitals brought numerous cutting edge
restorative systems which were already not accessible in the nation.
This allowed Indians to get world-class treatment without leaving the
nation.

Marking and Positioning of Apollo DKV:

Apollo DKV changed the focal point of the market and clients from
'corrective' to 'preventive' social insurance. The brand character of
Apollo DKV, as the cheerful and sound man, portrayed the inventive
remain of the organization. Since Apollo DKV began the adventure
with the prime point of helping individuals remain sound paying little

32
respect to restorative consideration costs, the 'Upbeat Man' additionally
outlined the organization's 'How about we Stay Healthy' reasoning.

Apollo DKV was the main medical coverage supplier in the nation that
was supported by an incorporated human services gathering and one of
the biggest unadulterated medical coverage suppliers in the global
market. The mission of the organization was to always furnish clients
with imaginative medicinal services answers for meet their social
insurance needs.

Items propelled by Apollo DKV:

Apollo DKV propelled various health care coverage items, which are
till date, among the best therapeutic protection approaches in the
country. The plans propelled by Apollo DKV were:

 Simple Health Individual Health Insurance Plan

 Simple Health Family Health Insurance Plan
 Protect Health
 Maxima
 Simple Travel Insurance Plan
 Individual Accident Insurance Plan
 Apollo DKV to Apollo Munich:

In December 2009, Apollo DKV was renamed as Apollo Munich Health

Insurance. The organization keeps on bringing out inventive items.
Apollo Munich offers an enormous number of client care
administrations to help individuals remain sound and fit consistently.
The adventure of un complicating medical coverage in the nation has
quite recently started and has far to go.

33
 Apollo Munich Insurance - Awards and Recognition:

Apollo Munch Insurance has bagged a couple of awards in the

past years.

Year Awards Organization

InfoSec Maestro Awards -

2015 100 Top CISO (two times InfoSec Maestro Awards
in a row)

Money Today and

Health Insurance Provider
2015 Financial Planning
Award
Corporation

Hero Cycle’s India

Health Insurance Provider
2014 Health and Wellness
Award
Awards 2014

Innovation of the Year

2014 Asia Insurance Awards
Award

The Indian Insurance

2014 Product Innovation Award
Awards by Fintelekt

Health Insurance The Indian Insurance

2014
Company of the Year Awards by Fintelekt

InfoSec Maestro Awards -

2014 InfoSec Maestro Awards
100 Top CISO

Model Insurer Award 2014

Celent Model Insurer
2014 - Risk Management
Asia
Category

2013 Best Health Insurer Award Outlook Money

34
 Asia’s Most Promising World Consulting &
2013
Brands and Leaders 2013 Research Coporation

The Technology Maturity The Indian Insurance

2013
Award Awards

2013 Top Green IT Enterprise A PC – Schneider

2012 Outlook Money Award Outlook Money

2012 Innovation Award Finnoviti

2012 Digiratti Award 2012 Paul Writer

35
VISION:

To be confided in pioneer in the medical coverage division by giving

imaginative to the residents of india.

MISSION:
"Our main goal is to bring social insurance of universal gauges inside the
span of each individual guidelines inside the range of each individual . we
are focused on the accomplishment and support of magnificence in
training, research and social insurance to serve humankind"

PRODUCTS OF APOLLO MUNICH HEALTH INSURANCE

1.HEALTH INSURANCE
 OPTIMA RESTORE
 EASY HEALTH
 HEALTH WALLET
 ENERGY
2. TRAVEL INSURANCE
 INDIVIDUAL
 FAMILY
 SENIOR CITIZENSHIP
 ANNUAL MULTITRIP
3. PERSONAL ACCIDENT
 FPA (FUNDAMENTAL ACCIDENT INSURANCE PLAN)

36
PARTNERS OF APOLLO MUNICH HEALTH INSURANCE

37
 CHAPTER-2
LITERATURE REVIEW
1. Fecher et al.(1993) utilized the Data Envelopment Analysis and Stochastic
Frontier Approach model and analyzed the specialized effectiveness of life
safety net provider sand non life back up plans of France during 1984 to 1989.
The data sources utilized in their model were work cost and different
expenses. On the yield side, the variables included just Gross premium. The
finish of the examination was that there was high relationship among's
parametric and non parametric outcomes and wide dispersion in the paces of
wastefulness crosswise over organizations

2. Delhausse et al.(1995) examined specialized productivity of non life back

up plan in Belgium and France by utilizing Data Envelopment Analysis and
Stochastic Frontier Approach strategy. They found that the specialized
proficiency of France was more than Belgium. Be that as it may, the general
specialized productivity was very low in the two nations. They likewise found
that non benefit organizations were more effective than benefit organizations

3. Donni, Fecher (1997) secured both life and non life segment in 15 OECD
nations - Belgium, Canada, Finland, France, Germany, Iceland, Italy,
Japan,Netherlands, New zealand , Portugal, Switzerland, Turkey, U.K.
furthermore, US during 1983 to 1988 utilizing Data Envelopment Analysis
way to deal with discover specialized effectiveness. They found that US,
U.K., France and Germany were the best and Portugal was the most
exceedingly terrible. They likewise found that the specialized productivity
level was high and scattered.

4. Sloan A., Conover J. (1998) analyzed the practical status of Insurance

Companies from 1995 to 1997 in Japan. The outcome demonstrated that
utilitarian status of guarantor doesn't influence the productivity yet open
inclusion has huge effect on gainfulness of insurance agencies.

38
5. Cummins, Tennyson and Weiss (1998) examined the connection among
mergers and acquisitions, productivity, and scale economies in the US extra
security industry. They evaluated cost and income proficiency over the period
1988 to 1995 utilizing Data Envelopment Analysis. The Malmquist procedure
was utilized to gauge changes in proficiency after some time. They found that
obtained firms accomplished more prominent proficiency gains than firms
that have not been engaged with mergers or acquisitions. Firms working with
non-diminishing comes back to scale and monetarily defenseless firms were
observed to be obtaining targets. Overall, mergers and acquisitions in the life
coverage industry were found to beneficially affect productivity.

6. Mahlberg (1999) included 36 life safety net providers of Australia and 118
life back up plans of Germany for the time of 1992 to 1996 to discover
specialized proficiency. The study uncovered that the specialized
effectiveness of Australia was more noteworthy than
Germany and yet wastefulness was found in both the nations

7. Carr,Cummins,Regan (1999) investigated cost proficiency just as revenue

efficiency of 66 life safety net providers of US by utilizing Data Envelopment
Analysis approach. The outcome demonstrated that selective managing safety
net providers were less efficient than non-restrictive managing or direct
essayists. The investigation likewise found that dealing insurers should
concentrate on less product offerings.

8. Subside Drucker (1999) conceded that by giving money related security

against the significant eighteenth and nineteenth century danger of biting the
dust too early, life insurance turned into the greatest monetary industry of that
century. Berger et al. (2000) examined cost proficiency, income productivity
and profit efficiency of 684 guarantors in US by utilizing Thick Frontier
Approach and Stochastic Frontier Approach technique for the period 1988 to
1992.The result showed that mixture speculation holds for certain sorts while
strategic focus theory commands others.

39
9. Carrow Kenneth A.(2001) researched whether the declaration of a merger
between Citicorp and Travelers anomalous affected stock costs of financial
and insurance agencies. Examination of anomalous returns encompassing the
merger show that disaster protection organizations and enormous banks
experienced significant stock cost increments, while the profits of loads of
littler banks, health insurers, and property safety net providers remain
moderately unaltered.

10. Diacon, Starkey,O'Brien (2002) included 454 life back up plans of 15

European countries, for example, Australia, Belgium, Denmark, France,
Germany, Greece ,Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain,
Sweden, Switzerland and U.K. The investigation inspected unadulterated
specialized proficiency, scale and mix efficiency by utilizing Data
Envelopment Analysis approach of life back up plans from the year 1996 to
1999.The examination arrived at an obvious end result that the efficiency
level had diminished and there was striking worldwide contrasts.

11. Boonyasai,Grace,Skipper (2002) inspected specialized productivity of

Life insurers of 4 Asian nations: Korea, Philippines, Taiwan and Thailand.
The study covered 33 life safety net providers of Korea, 33 life guarantors of
Philippines, 31 life insurers of Taiwan and 13 life back up plans of Thailand.
The finish of the study was that the efficiency of Korea and Philippines was
more than Taiwan and Thailand. The specialized proficiency of all life safety
net providers had expanded.

12. Carrow Kenneth A. furthermore, Heron R. (2002) researched how the

section of the Financial Services Modernization Act of 1999 (FMA)
influenced stock costs of banks, frugalities, money organizations and
insurance agencies. The investigation looks at stock abundance returns
crosswise over segments and friends size. FMA opens entryways for potential
mergers and unions crosswise over banking, budgetary and insurance sectors,
converting into strange positive returns for organizations that are likely
candidate for mergers and union. The consequences of the examination
propose that the biggest comes back to the FMA section were acknowledged

40
by enormous venture banks and insurance agencies. The stock costs of banks,
both little and large, seemed to be unaffected by the new enactment while
frugalities, fund companies and outside banks lost worth.

13. Madabhushi Sridhar (2002) follows the advancement of the rule of moral
hazard in a disaster protection contract and its steady weakening with the
changing style of human development and understanding the impact of crook'
acts on the common contract. The examination arrived at an obvious end
result that the rule of moral risk assumes a decreased job in a disaster
protection contract with reference to suicide and that the provisions of the
agreement ought to win to fix the obligation of the safety net provider to
satisfy the reason and goal of an extra security contract for example to help
the wards to retain the stun of abrupt demise of the protected, either by regular
or self-destructive passing, in normal or crazy conditions.

14. Da Han Chung, Yen Lin Hung, Yu Hsuang Lee,Jun Min Wang
(2003)compared banc assurance deals and guarantor's own group of Taiwan
from 2000 to2002.They utilized Data Envelopment Analysis way to deal with
register the efficiencies of banc assurance and customary channels
independently. The conclusion of the exploration was that the proficiency
score of a life insurance company's own business agents is essentially higher
than that of its banc assurance delegates and the productivity connection
between the banc assurance channel and conventional selling channel is
autonomous.

15. A.K. Jain (2004) uncovered that influxes of advancement have done
miracles to the insurance occupation. The normal outlook, especially of more
youthful generation in India is entirely amiable to these adjustments in
protection as a road where exhilarating openings were opened up in changed
condition.

41
16. Akihisa Oda (2004) contemplated normal fiasco protection frameworks
of Japan and compared them from three angles: government responsibility,
insurance scheme, and alleviation motivating forces. Through the
examination, the qualities and weaknesses of the Japanese tremor protection
framework are inferred and future improvements are recommended. The
breadth of the Japanese insurance system is by all accounts one of the
qualities. Then again, further improvements are normal for the framework in
the cooperation rate, premise risk and moderation motivations.

17. Tapen Sinha (2005) examined the advancement of protection in India. He

concluded that India is quick turning into a worldwide financial power. India
is among the important developing protection advertises on the planet. The
fundamental regulatory changes in the protection division in 1999 will be
basic for future growth. In spite of the limitation of 26% on remote
possession, huge foreign insurers have entered the Indian market. State-
possessed insurance agencies still have predominant market positions. In any
case, this would most likely change over the next decade.

18. Hwang, Shiuh-Nan; Kao, Tong-Liang (2006) considered administrative

proficiency in Life Insurance Companies with a use of two-arrange Data
Envelopment Analysis. The outcomes uncovered that attractiveness can be
clarified by percentage of external servers, number of branches, premium
investment percentage and corporate picture, while benefit can be clarified by
market share. This paper utilizes the two-arrange information envelopment
investigation (DEA), which was first utilized by Seiford and Zhu (1999), to
gauge administrative performance in 10 extra security organizations in
Taiwan. Execution was estimated by Marketability in the principal stage and
Profitability in the subsequent stage. In addition, this paper utilizes the Tobit
relapse model to analyze factors that significantly influence administrative
effectiveness.

42
19. R. Rajendran,B. Natarajan (2009) contemplated the effect of Liberization,
Privatization and Globalization on Life Insurance Corporation of India. that
in India the protection propensity among the overall population during the
independence decade was uncommon and in the next decades, it gradually
expanded. There was a noteworthy improvement in the Indian insurance
industry not long after the acknowledgment and adjustment of Liberalization,
Privatization, and Globalization in the year 1991. After 1991 the Indian life
insurance industry had equipped and had to confront a great deal of healthy
competition from numerous national just as global private insurance players.
The fall in the reserve funds rate and expanded challenge in the primary
market and especially the forceful activation by the Mutual Fund posed
serious challenges before LIC.
Sandeep Ray Chaudhuri and Joy Chakraborty (2009) concentrated on the ins
and outs of the systems received by the private life back up plans to defeat the
product-selling difficulties in the Indian disaster protection showcase. The
result showed that private life coverage organizations concentrated more on
selling Unit Linked Insurance plan.

20. Horizon Bussines School (2010) inspected the client inclination for
purchasing life coverage item during 2009. Out of the 500 people surveyed,
70.60% respondents said that duty sparing was the most important motivator
for taking up a Life Insurance Policy. 67.40% said that financial security was
the most significant spark. At the point when asked which organization there
spondent would prescribe, a large portion of them for example 43.20% said
they would recommend LIC of India, reason being the astounding picture.
87.80%respondents said they would consider LIC of India while purchasing
their Life Insurance Policy .The above writing uncovers that a large portion of
the investigations concentrated on expense and technical effectiveness for
insurance agencies abroad. Not many investigations have attempted to learn
about the effect of liberization on the protection division and the execution of
LIC in India. Indeed, even toward this path, the endeavors are fragmented. No
examination has been embraced to analyze LIC of India the new private extra
security organizations as far as cost effectiveness. The present research looks
to fill this hole.

43
 CHAPTER-3
SWOT ANLAYIS OF APOLLO MUNICH HEALTH INSURANCE

1.STRENGTHS

 No assurance based stacking.

• No geology based sub limits.

• 100% profound established renewa.l

• Clear plan wording and conditions.

• Cashless Acess to the best 10,000 Doctor and 4500 Hospitals

in excess of 800 urban networks

• Healthcare and therapeutic inclusion expertise.

• One of the fastest ensures settlement in the business

• 50% No case compensate in optima restore plan-most raised in

the business

• Cashless endorsement over 90% cashless endorsement done

inside 2hours of case recommendation.

• Renewal rate over 80%of our present customers reestablish

their technique reliably.
2.WEAKNESSES
• Lack of thing offering in the arrangement of sugar and
diabetic patients.

• Only a bit of the things are performing incredible for

the association.

44
 • Lack of value in nation and semi urban locales.

3.Opportunities
• Only 3% market is gotten by medicinal
inclusion associations generally speaking , immense
decision to create

• As infections and as such therapeutic cost are

on thr
rise, mediclaim has logically felt as a need

• As customers are continuously getting the

opportunity to be careful and taught about the
medicinal inclusion need and its importance degree of
the association to create gets more noteworthy..

4.THREATS
• More associations are going into the therapeutic inclusion zones as
government has extended beyond what many would consider possible
from 26% to 49% for the protection organizations contention is on the
rising

• Changes in the organization plans like changes in the organizations charge

structure(Changed from 10.3% in 2011-12 to 12.36% in 2012-13)
consequences for the premium charged for different things.

• Cut Thorat competition from associations like max bupa., Star prosperity,
ICICI Lombard and BAJAJ allianz.

45
Strengths/Opportunities of Insurance Industry
The exceptional challenge achieved by deregulation has urged the industry to
enhance in all territories; from guaranteeing, advertising, strategy holder
servicing to record-keeping. The presence of stringent authorizing
prerequisites guarantee that just adequately capitalized and expertly oversaw
organizations are qualified to convey out insurance and reinsurance .The
Insurance Regulatory Development Authority of India's (IRDA) emphasison
quarterly announcing/observing of guarantor dissolvability has upgrade
capital adequacy and transparency. Aggressive promoting techniques by
private division safety net providers will float consumer awareness of hazard
and grow the business sectors for products. Competition in a deregulated
situation will permit market powers to set premiums that are fitting for
presentation and drive back up plans to differentiate their items and services
.Innovations in dissemination and enhancements in market infiltration will
follow as open and private guarantors contend to showcase their items.
Allowing insurers to issue their own approach wordings and set their very
own rates will enable underwriters to tailor items to address customer issues.
Scope of available products will increment in light of the fact that outside
organizations carry with them a wide range of items and item improvement
aptitude.
Authorized intermediaries are especially part of the middle person structure
and only those with satisfactory capital, proficient experience and ability will
be licensed by IRDA .Capital structure of whole protection industry will
improve as foreign companies carry crisp capital with them.Market
effectiveness will improve because of data scattering, globaloperating
learning and expanded competition. Management productivity will increment
on the grounds that outside organizations bring with them worldwide
experience and the executives innovation .Customers' administration will
improve rivalry. which will at last advantage the consumers. Globalization
will likewise improve Regulatory and Governance framework. It will also
improve market lead and Ethical Business Standard.

60
Shortcomings/Challenges of Insurance Industry
Premiums rates will stay under strain because of serious challenge on
moreprofitable lines. Falling premium pay without a relating decrease
inclaims is probably going to drive down profits.Public and private division
back up plans' more noteworthy dependence on their investmentportfolios to
create adequate salary and increases for net benefits would subjectthem to the
instability of the monetary markets.Private safety net providers need to raise
progressively capital generally development could beconstrained since
dependence on reinsurance for capital help isn't generally viableor
available.Traditional circulation channels, particularly tied operators, need to
improve tomatch the new item contributions.

There is general absence of straightforwardness as monetary and operational

information forinsurers are not promptly accessible as none of India's safety
net providers are legitimately listedon stock exchanges.Like every creating
economy on a most optimized plan of attack, the lack of prepared
insuranceprofessionals and experts at all levels can't be cured in the short
term.Natural calamities will consistently be available; the Indian sub-
landmass isvulnerable to violent winds, floods, tropical storms and seismic
tremors, and until there is anational limit (like the psychological warfare pool)
to oversee misfortunes, dependenceon abroad reinsurers will proceed.

60
CHAPTER-4

RESEARCH METHODOLOGY

This examination concentrate includes the broad use of auxiliary sources,

catalogs, and databases, (for example, Hoovers, Bloomberg, Business week,
Factiva, and OneSource) to distinguish and gather data valuable for this
specialized, showcase arranged, and business investigation of the worldwide
medical coverage advertise. Inside and out meetings were led with different
essential respondents, which incorporate key industry members, topic
specialists (SMEs), C-level officials of key market players, and industry
advisors, to acquire and check basic subjective and quantitative data, and
survey future market prospects. The accompanying figure demonstrates the
statistical surveying procedure connected in making this report on the
worldwide medical coverage showcase.

Information Accumulation:

Essential: Through organized Poll

Auxiliary: Through Web, Diaries, Papers, Organization site, leaflet and Misc.
sources.

System: Study strategy

RESEARCH INSTRUMENT: Organized Poll. Inspecting PLAN

60
Test Plan: Accommodation examining Test size: 100

Test Region: Study was led at jammu city

Test unit: Information was assembled from understudy, government work and
private individual

QUESTIONAIRE Structure

Poll Examination

Respondents =100

Respondents Reacted =100

Reaction Rate =100%

Respondents are taken from understudy, private, government and business

areas.

(1) Have you got a medical coverage plan for you and your family?

(A) yes (b) no

Yes No Total
4 96 100

60
 (1) If yes, whether your co. provides cashless treatment?

(A) yes (b) no

Yes No Total
2 98 100

(2) Do you think health insurance is important in today world?

(a) yes (b) no

Yes No Total
50 50 100

60
(3) If yes, what according to you should be minimum sum insured? (A)3
lacs (b) 5lacs (c) 10lacs (d) 15 lacs

3lacs 5lacs 10lacs 15lacs Total

20 60 5 5 100

Name……………………………Age..............................................

Family members................................Occupation.........................................

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

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

FINDINGS

1. People are uninformed about medical coverage item

2. Most of individuals think about just extra security organizations .for

example LIC

3. They consider the reality medical coverage is significant in this day

and age
 CHAPTER-5
COCLUSION
The additional security thickness of India was 9.1 percent in the year 2000-01
when the private division was opened up. It extended to 52.2 percent in 2009-
10.India's life inclusion thickness is uncommonly low when diverged from the
created nations and making countries, despite India being the second most
crowded country on earth. This exhibits there is much scope for disaster
protection division to make in India. The additional security invasion of India
was 2.15 percent in the year 2000-01when the private portion was opened up..
It extended to 4.90 percent in 2009-10.Since opening up of Indian Insurance
territory for private help, India has declared an extension in both life inclusion
thickness and passage. Be that as it may, contrasted with UK, France, South
Korea, Japan and South Africa, India is waybehind. Among making countries
it stands second to South Africa. There is much scope for the calamity
security part to make in India. The conjecture of new business and supreme
premium for both private and open area additional security associations in
India for the year 2015 also exhibits an upward design which suggests that
there is a lot of augmentation perpetually protection business in India.

For over a century, the United States has been the greatest economy on the
planet yet genuine progressions have happened on the planet economy from
that point forward, prompting the move of focus from the US and the rich
countries of Europe to the two Asian goliaths India and China. Money related
authorities and various examinations directed over the globe envision India
and China to lead the world in the21stcentury. India, which is at present the
fourth greatest economy in wording of acquiring power equity, may
outperform Japan and become third major financial control inside 10 years.
Life inclusion will turn out to be rapidly over the one decades from now in
India. The huge drivers join sound monetary essentials, a rising focus pay
class, an improving administrative structure and rising peril care.
Client Education
Insurance is a one of a kind administration industry. The key business drivers
are connected to life style issues as far as seeing protection as a reserve funds
instrument rather than for hazard spread, need based selling, nature of
administration and customer awareness. In the present focused situation, a key
differentiator is the professional client assistance as far as nature of guidance
on item choice along with approach servicing. Product Innovation Innovative
items, keen promoting and forceful dissemination That's the triple whammy
mix that has empowered youngster private insurance companies to join Indian
clients quicker than anybody ever expected. Indians, who have consistently
considered life to be as an assessment sparing gadget, are now suddenly going
to the private division and gobbling up the new imaginative products on offer.
The privately owned businesses are turning out with better products which are
progressively gainful to the client. Among such items are the Unit Linked
Investment Plans which offer both life spread just as degree for savings or
speculation alternatives as the client desires. The developing notoriety of the
private back up plans appears in different ways as well. Life Insurance
Corporation of India is as yet ruling portions like endowment sand cash back
approaches which are customary plans. Yet, in the annuity or pension items
business, the private back up plans have just wrested over 30percent of the
market. While in the prominent unit-connected protection plans they have a
virtual imposing business model, with more than 90 percent of the clients.
The private insurers likewise appear to score huge in different ways. They are
influencing people to take out greater policies.

Distribution Network
While organizations have been fruitful in item advancement, the vast
majority of them are still rapping with right blend of Distribution Channels
for catching maximum market offer to assemble brand value, building solid
and compelling customer relationship and practical client service. In India
Insurance is sold and not purchased. The operators/Advisors by using various
procedures sell the item by persuading the clients. In addition, they push
arrangements with the most elevated premium to take a higher commission.
The consultative way to deal with selling is the cutting edge approach, which
causes customers and prospects to buy. While the conventional channel of
tied up counselors or specialists would be the chief distribution channel,
backup plan ought to improve and discover new techniques of delivering the
items to clients. Corporate organization, brokerage , Bancassurance, e-
protection, co-usable social orders and panchayats are some of the channels,
which can be tapped by the safety net providers to come to the appropriate
market sections. Presently days, the urban masses are tapped with the new

Job of IRDA

IRDA ought to likewise look to make an administrative system that advances

the most efficient utilization of capital, disposes of avoidable small scale the
board of business practices, enables organizations to value their items
prudentially, and level the playing field among private and state-claimed
insurance agencies. When markets are aggressive and receptive to purchaser
request and inclination, It is the shopper that advantages regarding lower cost
and expanded capacity to manage dangers.
 BIBLIOGRAPHY

www.inda.gov.in

www.cppr.in

www.healthimsuranceindia.org

www.ssrn.com

www.thehindu.com

www.isid.org

www.apollomunichinsurance.com

www.timesofindia.com