Picture this. An insurance agent accosts you while you’re en route
to
Delhi on the Bangalore-Delhi Rajdhani. He gives you a lowdown on
products you
might be interested in and goes on to sell you a policy by the time
you hit Delhi. If you thought this was fiction, think again?

Such encounters will be a regular feature on the Bangalore, Chennai
and
Trivandrum Rajdhanis. Max New York Life Insurance has tied up with
Railways for
manning these three trains with 24 of their officials who will pitch
for Max New York Life Insurance (MNYL) policies.

“Indian Railways has allowed us to man these three Rajdhanis with
our
officials. They will approach passengers and explain our products. In
case
anybody wants to buy a cover, the sale will be concluded after he/she
has
reached the destination,” Rajendra Sud, director & head, agency
distribution, told ET.

Incidentally, MNYL has also adopted these three Rajdhanis whose
exteriors will
feature a large fast-moving billboard of the private insurer. The
train
interiors will also be used to grab passenger mindshare. This is
possibly for
the first time that an insurer has decided to pitch its products on a
train.

MNYL is targeting a total premium of Rs 22,000-23 ,000 crore by 2011,
of which
first-year premium is pegged at Rs 10,000 crore. “We are looking at
10% market
share by 2011, by when the company’s share capital is expected to
touch Rs
3,600 crore from Rs 1,232 crore now. We also plan to increase the
number of
offices from 311 to 1,600, including 928 agency offices and 739 rural
offices in the next three years,” said Mr Sud.

http://economictimes.indiatimes.com/Personal_Finance/Insurance/Insura...
t_insured_while_travelling_in_Rajdhani_Courtesy_Max/articleshow/
3345599.cms

9 Aug, 2008, 1400 hrs IST