BerkshireInsurance.com Expands Products For Online Distribution In India
Veteran US investor Warren Buffett-led Berkshire Hathaway's Indian arm has expanded its services online under BerkshireInsurance.com as a corporate agent of Bajaj Allianz General Insurance Company Ltd. The site that started with auto insurance products, has now expanded into travel insurance products for individual, corporate houses, students, families and senior citizens.
The policies for all the categories are available on BerkshireInsurance.com website and no documentation is required to apply. Each category offers multiple facilities and customised plans.
The firm had earlier announced that it would start with auto insurance products and would then move on to other areas under general insurance.
"We are committed to offering to our customers comprehensive solutions to cover risks with the ease of online platform. These travel insurance plans will cover most of the conditions and situations a traveller may encounter and will provide the advantage of instant access and support that comes only with the online platform," said Arun Balakrishnan, CEO of BerkshireInsurance.com.
VCCircle was the first to report last year that Buffett was in talks for an India debut and may explore deal options with Bajaj Finserv.
Berkshire India is part of the NYSE-listed Berkshire Hathaway Inc., which was started in 1839. Although the group has an existing investment in a little-known engineering firm TaeguTec, it started direct operations this year as distributor of Bajaj Allianz's products, directly dealing with retail consumers online.
TaeguTec is a Bangalore-based tool maker, which is part of Iscar Metalworking Cos (IMC) and majority-owned by Berkshire Hathaway.