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Helping Buffett Crack the Indian Market .


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http://professional.wsj.com/article/SB10001424127887323981504578176210941015912.html?mod=WSJ_business_management&mg=reno64-wsj

 

India may prove a tough nut to crack for Warren Buffett. His maiden Indian venture—an online insurance distributor called Berkshireinsurance.com—made a big splash when it launched in March 2011. The company, which sells Bajaj Allianz General's non-life-insurance products, wants to be among the top three companies in India selling insurance on the Internet in the next three to five years. But even with a name like Mr. Buffett's behind it, that's a lofty goal for a newcomer to India's $40 billion insurance industry.

 

The company sold 300 policies within days by offering invitation to a talk the insurance mogul was giving in New Delhi. But that pace has slackened since. The company hasn't yet turned a profit and is banking on keeping a tight leash on expenditures and relying on the word-of-mouth publicity to build brand recognition, says Arun Balakrishnan, the company's chief executive.

 

 

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