Max Bupa Health Insurance today launched its online insurance product that will offer differential pricing based on the place of residence of the customer.

"The pricing of this product is very competitive and is the first of its kind in the industry. The product will only be available online," Max Bupa CEO Manasije Mishra told reporters here.

Customers living in non-metro cities would be paying a lower premium for the product -- Health@Companion -- which is reflective of healthcare costs in that area.

Max Bupa Health Insurance, a 74:26 joint venture between Max India and international healthcare provider Bupa has about three years of presence in the country. It currently has a network of 20 offices across 12 cities.