Bajaj Allianz General Insurance Company Ltd is planning to get into the credit insurance business, an area dominated by the Export Credit Guarantee Corporation. The company has also become the first insurance company to issue on-line issuance of marine certificates to customers from their own location itself.
Bajaj Allianz COO Kamesh Goyal said the company was finalising business plans for the credit insurance product and it would take a couple of months to get Irda approvals and hit the market. Had it not been for the SARS-scare, the product would have been ready for the launch in July 2003.
Credit insurance calls for a good database of information on companies and countries across the globe. For this, Bajaj Allianz is working out an agreement with Singapore-based Hermes, which is an Allianz company. The Singapore-based Hermes team could not travel to India due to travel restrictions, which caused a delay.
