HomeShop 18 expands its consumer offerings by venturing into insurance retail
The channel has experts from Bajaj Allianz to explain the product offers on the show
Overwhelming response on the first show airing. Hundreds of call knock HomeShop18’s contact centre
Online PR News – 23-March-2010 – – New Delhi, March 2010: HomeShop 18, India’s only on air shopping channel, started by the Network 18 group, today announced its tie up with Bajaj Allianz, one of India’s leading insurers to foray into distribution of insurance services on its channel. This is the first of its kind initiative in India where insurance services would be available to customers through TV. It also marks the expansion of HomeShop 18’s corporate portfolio which will now include services. In the special shows, HomeShop 18 anchors are joined by experts from Bajaj Allianz to offer two new products, specially chosen for the viewers of HomeShop 18 - Bajaj Allianz InvestGain (Life insurance plan) and Bajaj Allianz Family CareFirst (Healthcare plan). The first show went on air on 18th March’10 (Thursday) at 11.30 a.m and got an overwhelming response from the audience.
Commenting on the new launch, Mr. Sundeep Malhotra, CEO, HomeShop18, said, “We are getting a good response from our viewers since the show went on-air. We are doing away with all the common perils that, till date, have been attached to selling insurance. Our approach is fresh, stylized and non obtrusive. Viewers get in-depth information on the products– the benefit, advantage and features, at a time they want to see it, in the comforts of their homes, enabling the consumer to make an informed decision on which policy to buy.”
Elaborating on why the home shopping platform is an ideal way to reach customers, he added, “HomeShop 18 has bought recognition to the home shopping industry in India and our offering of India’s top brands clearly reflects the success of our channel and the efficacy of this medium. As part of our growth plans to diversify our offerings, services was a natural progression for us. Insurance selling on home shopping channels is a huge hit in markets abroad and the success of the first show is giving us positive signals. We are happy to partner with a household name like Bajaj Allianz and are hopeful that this partnership will set new benchmarks in the industry.”
Akshay Mehrotra, Head – Marketing, Bajaj Allianz said, “Bajaj Allianz is always looking for innovative touch points to attract and service customers, and home shopping is surely a non-conventional distribution model. We chose simple products like Bajaj Allianz InvestGain and Family CareFirst to be offered through HomeShop 18 so that viewers can easily understand their features and benefits when explained by our experts on the show. HomeShop 18 is a unique platform that enables us to reach out to the viewers at their convenience and comfort and explain the nuances of buying insurance, which many other mediums do not allow.”
HomeShop 18 had recently tied up with GS Home Shopping, world’s 3rd largest home shopping network. GS Shopping captured a hefty market share retailing insurance in Korean markets with a business of USD 464mn. The insurance team at HomeShop 18 would make use of GS Shopping expertise in various verticals, it being their forte.
About the plans:
Bajaj Allianz Invest Gain Platinum:
This policy is a comprehensive policy cover for life, critical care and medical insurance. The money one pays over 10 years gets paid back in case of any eventuality. In case of death, money paid is 4 Lakhs + 1000 per month for 10 yrs. In case of accidental death, money paid is 5 Lakhs + 1000 per month for 10 yrs. Cover is provided against 11 critical illnesses, on diagnosis of which you get Rs. 1Lakhs. Besides all this, it also covers an ‘Accidental Partial Disability’ for Rs. 50,000 plus 1.37 L at the end of the tenure and ‘Accidental Total Disability’ for Rs. 100,000 plus 1.37 at the end of the 10 year tenure.
Bajaj Allianz Family Care First:
It covers the person, his spouse, 1-2 kids and parents. One can choose from cover of Rs 1 Lakh to Rs 10 Lakh depending on how many people are covered and the amount pf premium one pays. The premium starts at as low as Rs 1587 including taxes. This policy covers Pre Hospitalization, Post Hospitalization, Ambulance Charges, Tax benfit upto Rs 10000 under section 80 D, Cash Less Treatment at over 3500 hospitals and day care treatment. It also covers 125 treatments from Radiotherapy, Chemotherapy to minor surgeries like removal of screws, plates, cleaning of wounds etc.
About HomeShop18 (www.homeshop18.com)
HomeShop18 is the Network18 Group’s online & on-air retail marketing and distribution venture which launched India’s first 24 hour Home Shopping TV channel on April 9 2008. HomeShop18 is India’s first comprehensive virtual retail business, operating in a multimedia environment including television, web, catalogue and other media to reach high quality products and services directly to customers across the country.
HomeShop18 has partnered with the best brand owners, such as Apple, Motorola, Philips, Kaya, Godrej and many more to provide superlative quality and exceptional value. HomeShop18 is committed to providing a delightful and dependable customer experience, through entertaining and outstanding content on TV & the Web and its high quality captive customer sales centre. Its customer-centric practices, including free home delivery, multiple payment options and 15 days ‘no questions’ asked replacement guarantee make shopping with HomeShop18 a smarter and a more convenient experience.
HomeShop18 is on a mission to grow India’s most comprehensive virtual business that helps customers make informed choices and extract the best value for their money from the comfort of their homes.
About Bajaj Allianz
Bajaj Allianz is one of the leading Private Sector life & general insurance companies in India. Bajaj Allianz is a union between Allianz SE, the world's leading insurer and Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited, one of India's most respected names). Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over Rs. 55, 00,000 crores). At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefits supported by the best technology is our business philosophy. Bajaj Allianz began its operations in 2001 and today has a pan-India presence with over with offices and presence in over 1100+ towns in the country. The companies have been constantly expanding its operations to be close to their customers.
Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. Currently Bajaj Allianz has a strong product portfolio of over 30 flexible products and caters to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance.
For more information, please contact:
Reema Dewan @ PR Pundit: 9999001669 / Harmeet Sethi@ PR Pundit: 9953403717
Neha Rameja @ HomeShop18: 9818267483