Magma HDI General
Insurance will focus on property insurance in tier-II& III cities to gain
volumes.
Mr. Swaraj Krishnan, MD & CEO, Magma HDI General
Insurance
said, “We feel urban market has adequate number of players & there is a lot
of scope in smaller cities & rural markets"
Retail property
insurance mainly includes house insurance & has remained a non-starter in
Indian market.
Now, house property
insurance plans can either be bought as a separate insurance plan or / in addition with a bank or HFC (Housing
finance loan) home loan.
Agent's unwillingness
to sell low premium house insurance plans has also contributed to the grim
situation.
However, Mr.Swaraj
Krishnan also said, , “Our market study shows that house insurance as a
separate plan has failed to pick up, however, if combined with other insurance
plans, adds value to both the products“.
For
more details please visit
http://magma-hdi.co.in/
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