Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.

As on 31st March 2008, Bajaj Allianz General Insurance maintained its premier position in the industry by garnering a premium income of Rs. 2578 crore, achieving a growth of 43 % over the last year.Bajaj Allianz has made a profit before taxes of Rs. 167 crore and is the first company to cross the Rs.100 crores mark in profit after tax by generating Rs. 105 crores.

In the first quarter of 2008-09, the company garnered a gross premium of Rs.733.53 crores against Rs.573.73 core last year for the same period registering a growth of 28%.

Bajaj Allianz today has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the Head Office at Pune.

Vision-
To be the first choice insurer for customers
To be the preferred employer for staff in the insurance industry.
To be the number one insurer for creating shareholder value

Mission-
As a responsible, customer focused market leader, we will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money.

A Partnership Based on Synergy-
Bajaj Allianz General Insurance offers technical excellence in all areas of General and Health Insurance as well as Risk Management. This partnership successfully combines Bajaj Auto's in-depth understanding of the local market and extensive distribution network with the global experience and technical expertise of the Allianz Group. As a registered Indian Insurance Company and a capital base of Rs. 110 crores, the company is fully licensed to underwrite all lines of general insurance business including health insurance.

Achievements-
Bajaj Allianz has received "iAAA rating, from ICRA Limited, an associate of Moody's Investors Services, for Claims Paying Ability.This rating indicates highest claims paying ability and a fundamentally strong position
 
Click to expand...
The Bajaj Allianz Difference-
---Business strategy aligned to clients' needs and trends in Indian and global economy / industry
---Internationally experienced core team, majority with local background
---Fast, decentralised decision making
---Long-term commitment to market and clients


Trust
Bajaj Auto Limited is trusted name for over 55 years in the Indian market and Allianz SE has over 110 years of global experience in financial services. Together they are committed to provide you with time tested and trusted financial solutions that provide you all the security you need for your investments. And more…..

Underwriting Philosophy
Our underwriting philosophy focuses on :
---Understanding the customer's needs
---Underwriting what we understand
---Meeting the customer's requirements
---Ensuring optimal coverage at lowest cost

Claims Philosophy
The Bajaj Allianz team follows a service that aims at taking the anxiety out of claims processing. They pride themselves on a friendly and open approach. They are focused towards providing you a hassle free and speedy claims processing. Their claims philosophy is to :

---Be flexible and settle fast
---Ensure no claim file to be seen by more than 3 people
---Check processes regularly against the global Allianz OPEX (Operational Excellence) methodology Sold over 1 million since inception.

Customer Orientation-
At Bajaj Allianz, their guiding principles are customer service and client satisfaction. All their efforts are directed towards understanding the culture, social environment and individual insurance requirements - so that they can cater to all your varied needs.

Experienced and Expert Servicing Team-
They are driven by a team of experienced people who understand Indian risks and are supported by the necessary international expertise required to analyse and assess them.

Service engineers located in every major city

Superior Technology-
---In order to ensure speedy and accurate processing of your needs, they have established world class technology, with renowned insurance software, which networks all our offices and intermediaries
---Using the Web, policies can be issued from any office across the country for retail products
---Unique, user friendly software developed to make the process of issue of policies and claims settlement simpler (e.g. online insurance of marine policy certificate)

Unique Forms of Risk Cover -
---Special PA cover for Amarnath Yatris
---Film insurance
---Event management cover
---Sports & Entertainment Insurance Package

Risk Management- Our Expertise-
Bajaj Allianz's service methodology is tried, tested and Proven the world over and involves:
---Risk identification: Inspections
---Risk analysis: Portfolio review and gap analysis
---Risk retention
---Risk Transfer: To an insurer as well as reinsurer (as required)
Creation of need based products
---Ongoing dialogue and proactivity
 
You must log in or register to reply here.
Back
Top