Bajaj Finserv, through its lending arm Bajaj Finance, has introduced 74 types of affordable Pocket Insurance plan to provide customers protection against small uncertainties.
The Pocket Insurance offers a number of plans for various segments such as lifestyle, travel, health to even a life cover.
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The product line up under Pocket Insurance includes wallet care, monsoon cover, dengue cover, baggage insurance, event insurance, trek cover, mobile screen insurance, designer clothes insurance amongst others.
The new type of insurance plans, according to the company, is a unique proposition which is affordable and instantly available.
The premium for these insurance covers start at INR79 ($1.15) per annum. The premium can be paid online through multiple payment options.
Bajaj Finserv has launched a campaign ‘I should have had insurance’ to raise awareness on the importance of having insurance’.
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By GlobalDataBajaj Finance operates as a diversified NBFC in the Indian market and serves to over 31 million customers across the country.
Small-sized insurance a trend in India
India-based health insurer Max Bupa has forged a strategic partnership with fintech firm MobiKwik to sell affordable and convenient bite-sized group health insurance products.
Due to their small and affordable size, bite-sized insurance plans are gradually getting popular among working professionals and millennials who are always on the go.
As part of the partnership, MobiKwik will provide Max Bupa’s bite-sized insurance plans including cancer cover and HospiCash product to its 107 million customers across the country.
Max Bupa’s HospiCash offers for a pre-determined daily allowance on the basis of number of days of hospitalisation of the insured regardless of the actual expense incurred.
HospiCash, whose annual premium priced at INR135 ($1.95), offer INR500 ($7.23) per day hospital allowance for up to 30 days in a year.
