Insurance company Bajaj Allianz is keen to woo women with exclusive health insurance products.
About eight months ago, the company launched a product targeted at women for critical illnesses such as heart disease, kidney failure and cancer. The premium is 35 per cent lower than that of regular health covers.
“We realised that most women are under lesser risk than men when it comes to critical illnesses. Perhaps this is so because Indian women can handle stress better than the men. So, why should they pay more?” said Tapan Singhel, MD and CEO, at a press conference.
Bajaj Allianz has sold over 25,000 units of this product since launch.
The company is eager to launch more such gender-specific products. It is working on a health cover for conditions specific to women such as hysterectomy and birth defects. This could be priced 15 per cent lower than regular health insurance products.
Maternity coverage for small and medium enterprises is also on the cards, said Singhel. “While big corporates offer maternity cover as they have a large women workforce, SMEs do not have that given the small numbers. But we are trying to address this issue.”