Bajaj Allianz General Insurance Company Ltd, has for the first time in India, unveiled an instant insurance product on the health segment called ‘Insta Insure’, where anyone between the age of 18 years and 45 years can buy health insurance products instantly without going through a long process of submitting documents, said Swaraj Krishnan, chief executive officer, Bajaj Alianz.
Announcing the national launch of ‘Insta Insure’ here on Friday, he said, “This is an innovative product exclusively designed for Indian market by the company. We are the first one’s to offer insurance products instantly in three steps – pick, tick and pay. We see the initiative would be a major success.”
The product is available in four options – self, self and spouse, self, spouse and one child and self, spouse and two children, to suit individual requirements. A one-time premium (each product has different premium) for a period of one year has to be paid. The product predominantly targets the first-time purchaser, who does not have a basic health insurance cover. With the smart card, an insurer can access over 2,500 empanelled hospitals across the country. “Insta Insure is a product that is simple to understand and yet offers all the benefits for basic ailments. The product was developed after intense research among customers, making it available at an affordable price. The USP of the product would be the instant availability and commencement of the cover ,” he said.