“We are targeting the empowered youth”

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Gold the most preferred investment

: a product. This model will ensure that penetration of life insurance in India could reach double-digit figures from a low 2.6% now.

All the employees in these offices are local recruits and this helps create stronger confidence, trust and faith. This is a very low-cost model for India, which is easy to roll out and empowers the employees. It creates loyalty for the company as well. India in general has low average per capita income; this means we would be selling lower-priced products to the masses. We need to keep our costs low to be profitable.

How has this model benefited the company and the brand?

This model has helped the company in retaining talent, expand reach and thus grow the business. The model helps identify emerging leaders within the system and gives them the opportunity to mature as entrepreneurs. Employees also see long-term growth potential—they now run their own offices and lead a sizeable team. This in itself is a strong motivation to stay with us.

Bajaj Allianz has come up with an online game, Time Out, where people are encouraged to save early. Given the accent on an online presence, one gets the feeling you are targeting a young audience.

The focus of the online game is to encourage youngsters to start planning early—in fact, they have to save very little if they start early.

One of our target segments is the new emerging empowered youth in the country. The youth constitute the largest portion of the workforce and they have very high disposable incomes. We have created a special package for the youth called Future Income Generator that gives income even after people retire.