Bajaj Allianz Expects General Insurance Business To Increase 5 Folds In Next 5 Years

Inspite on economic crisis, delay in increase of FDI to 49%, Bajaj Allianz, which is a joint venture between Bajaj Finserve Limited and Allianz SE, expects its company to grow at 20% in next five years. At present the company is growing at 6 - 7%. The company is planning its expansion in the rural areas of the country.

Justifying the expansion and increased growth, Mr. Tapan Singhel – Managing Director and Chief Executive Officer of the company said that business in rural area is vibrant with car sales and FMCG products are on a rise.  Rural areas will be a key factor in attaining growth of a general insurance company. In addition to the above, he added that, insurance penetration being very low in rural areas, will also throw up a huge opportunity to expand the business.

Adding to the above, he revealed that the expansion in the rural area will be driven by low cost, high service model supported with latest technology. 

http://www.myallagents.com/Bajaj-Allianz-Expects-General-Insurance-Business-To-Increase-5-Folds-In-Next-5-Years/details.html 

Get the most out of your car insurance

Comprehensive motor insurance policy without Add-on covers, in reality is not comprehensive in its true sense. If motor insurance policy holder has to pay from his wallet (partly or fully) for replacing rubber or metal parts in case the car met with an accident, then the entire purpose of insurance gets defeated. One can overcome this if motor insurance is bought with some very useful add on covers like Engine protection, Road side assistance, Protection for no claim bonus, Nil depreciation, Return to invoice and Personal belongings. Furthermore, spare parts in high-end cars are very expensive. It is recommended that cars valued upwards of Rs. 8-10 Lacs should have Add-on covers as part of the motor comprehensive policy. This reduces the financial impact on the car owner in the event of a claim  http://www.myallagents.com/Get-the-most-out-of-your-car-insurance/details.html

ICICI Prudential Launches ICare II Online Term Plan

ICICI Prudential, one of India’s biggest life insurance companies in the private sector launched iCare II as a sequel to its online term insurance plan.
In September 2011, ICICI Prudential had launched iCare which was India’s first no medical online term plan. And now they have come up with a better version of the plan by launching ICICI Pru iCare II with some improved features. 
The first striking feature of the new iCare II is its pricing. Premiums are attractively lower and now competing within the top 5 low premium online term plans.  
http://www.myallagents.com/ICICI-Prudential-Launches-ICare-II-Online-Term-Plan/details.html 

Should you opt for a high-value health cover?

The demand for a higher health insurance   cover is increasing. Renuka Kanvinde, assistant vice-president, health insurance,Bajaj Allianz General Insurance , says the company has seen a 35-40 per cent increase in demand for their Extra Care, a top-up plan, in the past two years. They also saw buyers shift from a Rs 3-5- lakh policy to Rs 7.5-10 lakh in the period.
This led the private insurer to believe health insurance policybuyers want a bigger cover. Hence, a fortnight earlier, it launched a Health Care Supreme product, offering a cover between Rs 5 lakh and Rs 50 lakh. 
http://www.myallagents.com/Should-you-opt-for-a-highvalue-health-cover/details.html

A to Z of Issuing a Whole Life Insurance Policy

ou've determined the amount of life insurance coverage you need, decided on the type of policy you want, and you've shopped around for life insurance quotes. You've even selected a carrier and completed an application--now what?
While each carrier has its own procedures, most insurers review applications and issue policies using similar methods.

Initial Review 
http://www.myallagents.com/A-to-Z-of-Issuing-a-Whole-Life-Insurance-Policy/details.html