Insurers Attract HNIs with Customized Products

‘Thinking more’

Manasije Mishra, chief executive, at Max Bupa said “This is a very interesting space and we will be looking at enhancing both products and services for the HNI segment, as they are an important category for us”.

Customers who fall under the category of HNI are also eligible for a special Health Relationship Programme. This is permitted only if the customer renews the policy without a break.

Moreover, even the insurance agents who are on a contract to deal with these special customers also have some additional benefits.

“Every HNI customer is given a personalized welcome call where his policy terms and conditions are reiterated to him. A dedicated relationship manager attends to his/her requests or queries. The HNI client is given assistance by the relationship manager on how to operate the self-help online portal for customers available on our website,” said Narayanan, chief distribution officer at Bajaj Allianz Life Insurance.

Apparently, a Mumbai-based life insurance company has joined hands with a mid-size information technology firm in order to develop special policies for the HNIs.

“Since these clients typically pay 30-40 per cent higher than the regular customers, it is imperative that they derive more value out of their policy,” said the chief marketing officer of a private general insurance company.

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