Tarun Chugh, who joined Bajaj Allianz Life Insurance last April, wants to focus on pension, health and savings products and develop a multi-distribution channel company. Talking to Mint, Bajaj Life’s managing director and CEO talks about why the insurer lost market share over the years and what it’s doing about it.
During early days, Bajaj Allianz Life Insurance was among the top 3 private sector insurance companies, but it has lost its market share now. What went wrong?
As someone from the insurance industry right from the time it got privatised, I know that Bajaj Allianz Life was once the biggest insurer in the private sector and was mostly in the top three.
In hindsight, if I were to analyse, I think we should have been a multi-distribution channel company. Also, there should have been consistency in senior management.
