Covid-related death claims have become a concern: Bajaj Allianz Life CEO

The experience in group term has been worsening because group term is more efficient in reporting claims, says MD Chugh

Life business has been impacted by localised lockdowns, but it is expected to pick up in the coming months as risk perception among consumers is very high, Bajaj Allianz Life Insurance Managing Director and Chief Executive Tarun Chugh has said. He spoke to Subrata Panda on the demand for term products in the second wave, stricter underwriting standards adopted by insurers, price hike in term products, and the mounting Covid death claims. Edited excerpts:

How has this phase of lock­down impacted business?

April was not as bad as last year, but May numbers have seen an impact. I will be