Bajaj Allianz Life Insurance, one of the leading private insurance companies in India, is eyeing to double its market share to 10 per cent in the health insurance segment over the next three years.

The latest information was revealed by a senior executive of the company, during launching of new insurance plan.

Presently, the company's market share in health insurance, among all the life insurers, is around 5%, which it plans to increase it to 10% in a three-year period.

According to a report, Bajaj Allianz's health insurance business currently contributes 5% to Bajaj Allianz Life Insurance in terms of number of policies sold.

Apart from latest announcement, in a first of its kind initiative, the company on Thursday, launched its 'Miss Confident Plans', in association with the winners of the Pantaloons Femina Miss India 2009 pageant.

The company claims that the newly revealed insurance policy has a host of investment plans and specially designed for women. The company during this fiscal has targeted to cover 2.5-lakh people as against 1.6-lakh in the previous fiscal.

According to market experts, the company launched the latest insurance policy, in order to strengthen the Indian insurance industry's focus on women.

Bajaj Allianz Life Insurance, a joint venture company between Bajaj Finserv which was recently demerged from Bajaj Auto, and Allianz SE, initiated its health insurance business in 2007-08.