The joint venture company, Bajaj Allianz Life Insurance Company Limited is going to offer cashless treatment to its customers across the country.
Very soon the company will spread its distribution network in rural areas and increase the list of tie-ups with hospitals in cities, towns and villages.
Sam Ghosh, CEO of Bajaj Allianz Life Insurance Company Limited, said that they will set up their own tie-up and will not use any others insurance company's network or tie-ups.
"Once we are ready with more than 200 hospital tie-ups in the country we will start offering Third-Party Administration," said Ghosh.
Currently Bajaj Allianz has around 550 offices across the country and has planed to increase the number of offices to 880 by June 2006.
"We have around 5,500 agency managers and around 90,000 agents. And by end of January 2006, the number of agents will rise to 100,000 in the country," said Ghosh.
While talking about Gujarat, Amit Roy, chief manager of North West region, said that in the state like Gujarat business of around 87 per cent comes from rural areas and similarly in Rajasthan the rural areas contributes around 63 per cent.
"So now we have plans of expansions in rural areas of Gujarat as well as Rajasthan," said Roy.
According to Roy, Bajaj Allianz has 43 offices including 11 branches and 32 satellite branches and by next year company will spread its network to around 80 offices in the state.
Ghosh explained that in rural areas the growth is very high. In villages and towns, paying capacity is very high and people are so eager to know new things and developments in their life, he informed.
"And entering into rural areas, in several places we would be having a monopoly in that particular area. Till now, very few private insurance companies have entered into rural or semi-urban areas and still they are not so successful as it is very difficult to explain the concept," he said.
"In villages initially we will have to sell concepts rather than product. Once we achieve success in selling concept, we can insure towns and villages in very short period," said Roy adding that the selling concept in village is going to be very difficult task.
