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Bajaj Allianz General Insurance

Bajaj Allianz General Insurance Company Limited is a joint venture between Allianz SE, the world’s leading insurer, and Bajaj Finserv Limited. The company received the certificate of registration from IRDA on 2nd May 2001 to conduct general insurance business in India. Bajaj Allianz General Insurance, today, is one of the largest private insurer in the industry with offices in over800 towns and cities. The company has been constantly expanding its operations to reach out to its customers.

Bajaj Allianz General Insurance caters to individuals across demographics of the country and the corporate sector with its wide range of products and services that go beyond insurance. The company is not only bringing insurance solutions to the customers’ doorstep but also improving insurance penetration, with its advanced digital and mobile applications. Today through its digital offices it has reached out to over 1000 new Tier 2 and 3 towns across India. It is also growing the footprint of personal lines of insurance through its All Women Branches.Known for its claim and customer service levels, Bajaj Allianz has received iAAA rating from ICRA for 11 consecutive years, which indicates the company’s highest claims paying ability and a fundamentally strong position. The company has a strong focus on customer centricity and aims at delivering superior value with an excellent and caring experience for the customer. Today the company is taking its relationships with the customers beyond insurance, by offering them a plethora of value added services beyond insurance. It is a one stop shop for a customer’s day to dayconcerns.

The company reaffirmed its strong financial position in the industry by posting profit after tax of Rs. 728 croresin FY 17. The company is the only insurer in Indian general insurance industry to have posted consistent profits since its inception in 2001. Bajaj Allianz General Insurance also reported a healthy Combined Ratio of 96.8% and a solvency of 261%. This can be accredited to the company’s prudent underwriting norms, risk based pricing and a sound financial position.

Bajaj Allianz General Insurance has embraced digitalization as a primary enabler and has been working continuously on automation and digitization of its service offerings.It offers real time solution to its customers and partner via mobile applications and dedicated portals. The industry first initiatives by the company like cashless claim settlements, in-house health management team(HAT) and image based policy as well as claim processing, digital offices and mobile applications such as Eezee Tab and Insurance Wallet have set a benchmark in the industry. It is the first insurance company in the country to lay the foundation for usage based insurance through its telematics offering, Drive Smart.

The company was recently awarded as the Technological Initiative Award for first-ever, Telematics based motor insurance service Drive Smart and the Digital Insurer Award at the prestigious 21st Asia Insurance Industry Awards 2017. Bajaj Allianz General Insurancewas also conferred with Private Sector General Insurance Company of the Year at Fintelekt Insurance Awards 2017 and is the only Asian Insurance company to be honored by prestigious Insurance Asia Awards 2016. Company has also received accolades for Best Non-Life Insurance provider and Best Motor Insurance provider at very prominent Outlook Money Awards 2016. The brand has been recognized as one of the most trusted general insurance brand in The Brand Trust Report India Study 2016 covering 20,000 brands across 16 cities and The Economic Times Best Brands.

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