Warren Buffett’s insurance venture in India, BerkshireInsurance.com, is spreading its wings by adding more products. After an initial start with motor insurance policy, the company has launched customised travel insurance products and is evaluating the launch of a health or term life insurance product. BerkshireInsurance.com is a corporate distribution agent of Bajaj Allianz.

“We are evaluating both health insurance and term life insurance. We are at present looking at the value that we can add. We decided to sell travel insurance because it is mainly an online sales-driven product. People want to purchase travel insurance instantly with ease and flexibility,” said Arun Balakrishnan, chief executive officer, BerkshireInsurance.com.

The company has launched customised travel insurance policies for five different customer segments, such as an individual, a student, a family, senior citizens and corporate travel. Within each category, there are multiple facilities offered with multiple coverage combinations. The policies can be purchased online on the website and are issued instantly with no documentation through a simple and intuitive online process.

“The value we add in the product sold through our website is the ease and choice for customers. Cost of insurance policies sold online is not different from that of Bajaj Allianz,” Balakrishnan said.

Berkshire India is a majority owned non-direct subsidiary of Berkshire Hathaway incorporated in India. With much fanfare, the company was launched during Buffett’s visit to India in March 2011.