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Bajaj Allianz Life Insurance aims to diversify its product basket and launch a product each in morbidity (health) and pension segments this year. The products will be designed primarily keeping the ‘mass affluent’ customers in mind.
The life insurer currently does not have any plan catering to these segments. According to Tarun Chugh, MD & CEO, Bajaj Allianz Life, the company has already started working on a health product and is hopeful of coming up with a ‘ highly customised’ product for the segment soon.
“Our focus will be on providing living benefits, wherein our customers are allowed to live better. We will be looking at health and pension products in a big way,” Chugh told BusinessLine on the sidelines of a press conference to announce the launch of its unit linked plan (ULIP) – Goal Based Savings here on Thursday.
While life insurance companies have the requisite data required for designing a health product, the data has to be properly interpreted and understood, he said.
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