Bajaj Allianz To Offer Family Health Insurance With Insta Insure
Bajaj Allianz General Insurance Company Limited, one of the leading private general insurance has launched an innovative format of buying family health insurance. Branded as Insta Insure, the company has rolled out its first product in the health insurance segment - Family Health.
Mr. Swaraj Krishnan, CEO, Bajaj Allianz General Insurance, said while launching the product, "There are a wide range of products and services that are available instantly. We thought why the same benefit cannot be extended for buying insurance. Insta Insure Family Health is one of such product that we have launched. We will soon launch other retail products also under this sub-brand - Insta Insure. The main USP of this product would be the instant availability and commencement of the cover i.e. as soon as the premium is paid the coverage would commence the moment it is activated through SMS or call center or any of our office."
The Instant feature applies to all the different stages of this policy. Besides these unique and attractive features, the policy has wide coverage options, 130 day-care procedures are covered, minimum documents, no medical tests, easy claims procedure, built-in PA cover for the proposer, etc. Very soon the policy can instantly be bought at Retail Outlets, neighbourhood grocery, pharmacy chains, etc.
Bajaj Allianz Insta Insure Family Health is a product available for all aged between 18 yrs and 45 yrs in four options viz. self; self and spouse; self, spouse and one child (cover available from 3 months) and self, spouse and two children to suit the individual requirements. Initially this policy is available in cities like Chennai, Bangalore, Hyderabad, Kolkata, Mumbai, Pune, Ahmedabad, Baroda, Surat and Jaipur. The company would scale this up to other cities in few weeks. Targeted predominantly at first time purchaser who does not have a basic health insurance cover, the company says that it can be also bought as a complementary cover to their existing health insurance product.
Bajaj Allianz General Insurance believes in designing health insurance products that are simple to understand and yet offers all the benefits expected from a good insurance policy. "The product was developed after intense research among our customers, who wanted a product that is easy to understand and buy besides including the best of the coverage. The challenge was to devise such a product that it includes all the features and make it available at an affordable price. In order to address this we had to change the process of buying itself so as to live up to its name of Insta Insure at the same time, ensure strict controls to prevent misuse and mis-selling." added Mr. Swaraj Krishnan.