Apollo DKV, the health insurance joint venture (JV) between the Apollo Hospitals Group and DKV AG, has brought on JWT as its creative agency. As reported by afaqs! almost two months ago, Apollo DKV was on a hunt for a creative partner and a pitch process was on for the selection.
Apart from Mudra and JWT, the other agencies that took part in the pitch were Leo Burnett, DraftFCB Ulka, Grey Worldwide and Dentsu.
The Apollo DKV brand is expanding and is looking for innovative creative ideas, reveal sources. The brand has been spreading the message of positive health, built on the three pillars of empathy, expertise and innovation.
Connext continues as the media AoR (agency on record) for Apollo DKV. Quasar handles the digital media requirements for the brand.
The health insurance category is still an emerging one in India, with only two strong players, Apollo DKV and Star Health, ruling the market. However, other players are looking at this category seriously. Max Bupa Health Insurance, the JV between Max India and British United Provident Association Ltd. (Bupa), is one of the serious contenders in the market.
For insurance companies such as Iffco Tokio, Tata AIG and ICICI Lombard, health insurance is a part of general insurance.
The Indian health insurance market stands at about Rs 6,000 crore and is expected to touch Rs 7,500 crore this year. The insurance scenario in the country saw a change after 2001, once private equity was permitted in the sector. Since then, the category has been growing at the rate of 35-37 per cent each year. For the last three years, however, the category has grown at almost 55 per cent year on year.