Antony Jacob, CEO, Apollo Munich Health Insurance welcomes the IRDA Regulation on Bancassurance

Reactions form Mr. Antony Jacob, CEO, Apollo Munich Health Insurance on Bancassurance Regulation proposal by Insurance Regulatory and Development Authority.

“We welcome any initiative that promotes access to better health care for the people.

Today, it is estimated that the gap between the total cost of healthcare incurred by Indians and the amount covered by health insurance is as high as USD 57 Billion.

Healthcare is an enterprise that is growing rapidly, and spends in this sector will soon touch $200-250 Billion.  All over the world, we have seen that a robust and vibrant health insurance industry is critical to ensure that everybody has access to the best possible healthcare at an affordable cost.

The Government, Regulator and Insurers have to work closely together to ensure that the existing gap between health care spends and the portion covered by insurance reduces over time.

This is a very important challenge for the future of our country, and this initiative is a step in the right direction.”