HomeShop 18, India’s only on air shopping channel, started by the Network 18 group, today announced its tie up with Bajaj Allianz, one of India’s leading insurers to foray into distribution of insurance services on its channel. This is the first of its kind initiative in India where insurance services would be available to customers through TV. It also marks the expansion of HomeShop 18’s corporate portfolio which will now include services. In the special shows, HomeShop 18 anchors are joined by experts from Bajaj Allianz to offer two new products, specially chosen for the viewers of HomeShop 18 - Bajaj Allianz InvestGain (Life insurance plan) and Bajaj Allianz Family CareFirst (Healthcare plan). The first show went on air on 18th March’10 (Thursday) at 11.30 a.m and got an overwhelming response from the audience.
Commenting on the new launch, Mr. Sundeep Malhotra, CEO, HomeShop18, said, “We are getting a good response from our viewers since the show went on-air. We are doing away with all the common perils that, till date, have been attached to selling insurance. Our approach is fresh, stylized and non obtrusive. Viewers get in-depth information on the products– the benefit, advantage and features, at a time they want to see it, in the comforts of their homes, enabling the consumer to make an informed decision on which policy to buy.”
Elaborating on why the home shopping platform is an ideal way to reach customers, he added, “HomeShop 18 has bought recognition to the home shopping industry in India and our offering of India’s top brands clearly reflects the success of our channel and the efficacy of this medium. As part of our growth plans to diversify our offerings, services was a natural progression for us. Insurance selling on home shopping channels is a huge hit in markets abroad and the success of the first show is giving us positive signals. We are happy to partner with a household name like Bajaj Allianz and are hopeful that this partnership will set new benchmarks in the industry.”
Akshay Mehrotra, Head – Marketing, Bajaj Allianz said, “Bajaj Allianz is always looking for innovative touch points to attract and service customers, and home shopping is surely a non-conventional distribution model. We chose simple products like Bajaj Allianz InvestGain and Family CareFirst to be offered through HomeShop 18 so that viewers can easily understand their features and benefits when explained by our experts on the show. HomeShop 18 is a unique platform that enables us to reach out to the viewers at their convenience and comfort and explain the nuances of buying insurance, which many other mediums do not allow.”
HomeShop 18 had recently tied up with GS Home Shopping, world’s 3rd largest home shopping network. GS Shopping captured a hefty market share retailing insurance in Korean markets with a business of USD 464mn. The insurance team at HomeShop 18 would make use of GS Shopping expertise in various verticals, it being their forte.
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