Berkshire Hathaway Inc enters Indian insurance sector

NEW DELHI: Berkshire Hathaway Inc, an US-based company, has forayed into India's insurance segment. Berkshire India, a majority-owned unit of Berkshire Hathaway Inc., has been formed to sell and distribute general insurance products in the country via their online distribution portal – www dot berkshireinsurance dot com.

Kara Raiguel, director of, Berkshire India, said, “We have been watching the Indian insurance industry for a long time and are very excited about the immense opportunity in the emerging retail insurance sector. Berkshire Hathaway has been very successful in the online and direct distribution model in the US and as a corporate agent of Bajaj Allianz, we would like to replicate that success in India as well.”

Berkshire India will selling insurance directly to the consumer by utilizing the internet portal and tele-marketing. In the initial stage, the focus will be laid on Motor Insurance but in the later stages, the company will updating its business model to meet the requirements of the Indian insurance sector.