Bajaj Allianz to tie with NGOs, SHGs to promote rural schemes

Ahmedabad, Nov 22 (UNI) Bajaj Allianz Life Insurance, a leading private player, has plans to tie up with NGOs and self-help groups to expand its network in the rural market, according to the company CEO Sam Ghosh here today.

''We are focussing very much on the rural market. For the purpose, the company has tied up with Godrej Aadhar, and a South-based NGO Asha to reach out to the masses,'' he said.

Till March last year, about 55 per cent of the company's business came from top 40 cities, but this year it has been the other way round, he said.

About Gujarat, he said, the state accounted for ten per cent of the 4.5 million life insurance policies the company sells every year.

''Bajaj Allianz has a definite presence in South Gujarat, with 27 offices across the region. It is the more preferred insurer after the government insurer,'' said Amit Roy, the company's Chief Manager for the North-West.

He said the company sells 4.5 lakh non-life policies in the country every month.

Mr Ghosh was speaking at a conference, after announcing the launch of a life insurance plan for rural masses with a one time premium of just Rs 75 to be covered for a minimum five years, in Gujarat. It is being to mark the company's 5th anniversary.

The product - Samraksha - is single premium term assurance plan, which is available in two terms - 5 and 10 years - for a life cover of Rs 5,000 and Rs 10,000, respectively.

It will be available for persons aged between 18 to 45 years, he added.

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