Bajaj Allianz General Insurance on Thursday said that it was unveiling State-wise health insurance policies whose premiums factor in each State’s specific healthcare dynamics.
With significant variance in treatment availability, medical costs and healthcare needs across regions, the product has been customised by factoring in local hospital infrastructure, affordability levels and prevalent health concerns.
In doing so, it has gone beyond the traditional one-size-fits-all model approach, the company said.
The private general insurer is targeting a new customer segment, which requires health insurance the most but is constrained by the costs. Head of Health Administration team Bhaskar Nerurkar said that the focus was on ‘the missing middle’, while at a broader level insurance for all was the emphasis. The product’s enhanced affordability is bound to attract the urban lower middle class and the rural middle class, he added.
On how much the premium will differ, he said it depends on the cost of hospitalisation. The difference in premium could be 10-15% across States. The concept builds on the existing zones into which insurers have divided the market and determined the premium. The new product is available in both individual and floater variants.
MD and CEO Tapan Singhel said from treatment costs to disease patterns, healthcare challenges vary across regions and insurance must evolve to reflect this reality.
Published – June 20, 2025 09:36 pm IST
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