Bajaj Allianz General Insurance Company
Bajaj Allianz General Insurance Company Overview
Bajaj Allianz General Insurance Company Limited has formed through a joint venture between Bajaj Finserv Limited and Allianz SE. Under this collaboration, Bajaj Finserv Limited acquires 74% and the remaining 26% is owned by Allianz, SE. These market leaders provide stability, goodwill, expertise, and strength to Bajaj Allianz General Insurance, which are proved to be the actual forces behind the successful operations of the general insurance company.
Bajaj Allianz got the certificate of registration from the Insurance Regulatory and Development Authority (IRDA) in 2001 to operate several types of businesses including the Health Insurance. With its consistent approach in delivering the best insurance solutions, Bajaj Allianz has managed to gain a spot among the leading general insurers of India. The company caters the individual customers across the nation as well as the corporate sector with its extensive range of insurance products and solutions which comprise car insurance, two-wheeler insurance, health insurance, marine insurance, travel insurance and so on.
Bajaj Allianz General Insurance Statistics
The Bajaj Allianz General Insurance Company holds an authorised and paid up capital of Rs 110 crores. This insurance company is considered the most trusted general insurance firm in India as per The Economic Times Best Brands and The Brand Trust Report India Study 2016 after covering 20,000 brands across 16 cities in the nation.
The general insurance company is known for its claim settlement solutions and quality customer support. Due to its consistent performance, the company has got iAAA rating from ICRA for 11 consecutive years that signifies the company's great ability to pay the insurance claims and fundamental soundness. The Bajaj Allianz insurance company operates with the customer centric approach and aims to provide supreme quality service to its customers. Here are some remarkable figures owned by the company:
Claim Settlement Ratio
Bajaj Allianz General Insurance Financials
Bajaj Allianz General Insurance has been one of the most financially sound general insurance firms in India by constantly keeping up its profitability and growth. The insurance company has gained a Profit Before Tax of Rs 1,078 crore and arises as the most profitable insurance company after recording a Profit After Tax of Rs 728 crore. The company reported a Gross Written Premium (GWP) of Rs 7,687 crore which has increased by 30.3% in comparison to the last fiscal.
Why Should You Choose Bajaj Allianz General Insurance?
Here are the benefits which make the Bajaj Allianz general insurance plans being the top choice for customers:
- 24x7 Customer Assistance - The Bajaj Allianz general insurance is available anytime and everytime with its customer assistance team to help its customers in the time of emergency. Be it the assistance for insurance claim request, emergency hospitalisation, roadside assistance, or any other sort of help, the support staff of Bajaj Allianz is always on its toes to reach their customers.
- Digital Enabled Processes – With the technological advancement, the Bajaj Allianz general insurance company also changed the way of delivering its services. Now, the insurance processes of the insurance company are enabled with digital apps and features. The Caringly Yours App to enable policyholders to file a claim through mobile, track their claim status and many other processes is the great example of digital services of the company.
- Quick Claim Process - With an easy and quick insurance claim procedure of Bajaj Allianz General Insurance, you can file your claim, upload the required documents and track its status instantly. You can register the claim through various modes which includes by calling on the toll free number 1800-209-5858, sending an email on firstname.lastname@example.org, registering on the website and making the request through its app. Due to this, the insurer holds an excellent claim settlement ratio of 88.35%.
- Fast Renewal Process – The renewal process of the Bajaj Allianz general insurance is loaded with advanced digital facilities. With the innovative renewal procedure of the company, you can renew your insurance policies for your car insurance, two-wheeler insurance, health insurance, fire insurance and so on. All these insurance plans can easily be renewed by just entering the existing policy number, policy expiry date and captcha code. After this, the insurance policy details will be shown to you, which you can modify as per your choice and pay for the final policy details.
Awards and Achievements of Bajaj Allianz General Insurance Company
The Bajaj Allianz General Insurance has been recognised with several awards and achievements for providing top-notch insurance products and services. Below are some the awards and recognitions won by the company:
- Best Cyber Team of the Year
- Celent Model Insurer Award 2020
- UTV Financial Leadership Award 2011
- Best Customer Service Provider of the Year
- General Insurance Company of the Year award
- Innovation in Recruitment award for Tal.Port initiative
- General Insurer of the Year - Private Sector 2011 & 2012
- Asia Insurance Technology Award 2019 for Operational Excellence
- People Matters Best Recruitment Technology & Analytics Award 2019
- Outlook Money Awards 2020 under the Non-Life insurance Provider of the Year
Bajaj Allianz General Insurance Product Portfolio
Bajaj Allianz Car Insurance Policy
The Bajaj Allianz car insurance policies shield you from financial damages which may arise due to unforeseen incidents like accidents, theft, natural calamities or man-made disasters. The Indian Motor Tariff has made it compulsory to at least own a third-party car insurance cover for all the car owners in India, which offers them coverage against the financial liability that you may incur towards a third party after an accident or mishap.
- Bajaj Allianz Third Party Insurance Policy - This is the most basic and compulsory car insurance plan which you must purchase for your car. If you hold this insurance cover, then only your insurance company will agree to take care of legal obligations and financial liabilities which may arise due to an accident caused by you. With this insurance plan, your insurance company will compensate your losses incurred due to an accident such as bodily injuries, disability, death or property damage of the third party. The plan is available for private cars and commercial cars, which you can opt for as per the status of your vehicle.
- Bajaj Allianz Standalone Own-Damage Insurance Policy – When you purchase a car insurance, you must buy a standalone car insurance as well with third party insurance. After any accident or mishap, this insurance policy will offer you coverage for the damage expenses sustained by your car. The standalone own-damage car insurance does not cover any liabilities towards the third-party and is just designed to cover damage and losses incurred by your own car due to theft, accidental damages, natural calamities and man-made disasters. You can enhance the coverage of this insurance plan with some add-on covers like zero depreciation cover, breakdown assistance, consumables cover, and so on.
Bajaj Allianz Two-Wheeler Insurance Policy
The Bajaj Allianz two-wheeler insurance plan covers you from the financial implications which may arise due to bodily injuries and damages incurred by your bike after an accident. In addition to this, it also gives you coverage from financial losses sustained by your bike due to being stolen or gets damaged in a man-made or natural calamity. There are two types of two-wheeler policies available such as Third Party Insurance and Comprehensive Insurance Policy.
According to the Indian Motor Tariff, it is compulsory for every two-wheeler owner to at least hold a third party insurance cover while driving.Third Party Bike Insurance safeguards you against the damages which may arise due to injuries or death incurred by a third-party with the involvement of your bike. On the other hand, the Comprehensive Two Wheeler Insurance policy offers you and your two-wheeler vehicle an all-round cover against financial losses incurred due to damage or theft of your bike or scooter. The comprehensive insurance also covers the third party liabilities along with the own-damage cover.
Bajaj Allianz Health Insurance Policy
Bajaj Allianz Health insurance Plan offers financial security to assist you for dealing with your medical expenses. It is a kind of investment which helps you to safeguard your money from being drained on expenses such as hospitalization, ambulance, medicines, doctor’s fee and so on. Basically, a health insurance cover can be considered as an agreement between you and your health insurance company which makes them offer your coverage in case of any medical emergency. Bajaj Allianz offer different types of insurance plans to cater the needs of various people such as individual health insurance, family health insurance, critical illness insurance, senior citizen insurance, top-up health insurance, hospital cash insurance and so on.
Bajaj Allianz Travel Insurance Policy
Whenever you make travel plans, there is always a possibility of disruption by some external factors such as delayed flights, loss of baggage and so on. These elements are uncontrollable and can badly disrupt your itinerary. Such components not only impact your travel spirit but also result in financial loss. The travel insurance plan gives coverage for flight delays and cancellations, trip cancellation and curtailment, loss of baggage and passport, home burglary insurance, and medical treatment and hospitalisation expenses.
The travel insurance policy provides extensive insurance coverage with on-call support, quick claim settlement, emergency cash in advance, offering innovative packages, and much more. Bajaj Allianz travel insurance policy gives travel insurance plans for different segments which include individual travel insurance, family travel insurance, senior citizen travel, and student travel insurance.
Bajaj Allianz Home Insurance Policy
A home insurance plan is designed to cover your home and its possessions and contents against natural disasters and man-made calamities which include fire, earthquakes, flood, theft, burglaries and any other type of risk which your residential location is prone to. A home insurance cover offers a veritable protection cover to your home and every possession of yours in it. Bajaj Allianz home insurance secures your home with affordable premium rates, easy claim settlement process and array of add-on covers to choose from.
Bajaj Allianz Cyber Insurance Policy
The most fearful aspect of the cyber threats is that you come to know about them after the attack has happened. You can not see a cyber stalker and hence easily fall prey to its hacks and tricks. On the basis of all sorts of cyber threats and risks which you could experience in daily life while being online, Bajaj Allianz has come up with Cyber Insurance Policy to protect you from identity threat, cyber stalking, malware attack, phishing, cyber extortion, email spoofing, privacy and data breach and so on.
Bajaj Allianz Pet Insurance Policy
Bajaj Allianz understands the value of pets in a family. Hence, it offers an insurance policy to take care of them in different situations. With pet insurance policy, you can provide your dog with the best type of medical care without affecting your savings due to unexpected, and expensive, veterinary bills. The annual insurance policy gives you the support even in a case where your pet goes missing. This insurance plan offers extensive coverage with multiple benefits such as lifetime cover, no waiting period for accidents and discount on RFID tagging. It also gives additional coverage for pre-policy medical check-ups and vaccinations.
Bajaj Allianz General Insurance Distribution Network
Bajaj Allianz General Insurance acquires a huge presence in the country and robust network of distribution. The insurance products can be purchased, renewed, and modified online. The general insurance company has its hold in more than 2,000 locations across the nation where above 60,000 insurance advisors have been diligently involved in delivering the best insurance services. This commitment has resulted in the generation of more than 5 lakh customers by the insurance company. Also, the general insurance firm has also developed around 700 virtual offices across India to offer digitally enabled insurance solutions to its policyholder.
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Bajaj Allianz General Insurance FAQs
When can I connect with the customer care team of Bajaj Allianz General Insurance?
You can get in touch with the support team of Bajaj Allianz General Insurance whenever you want to as it offers 24x7 customer assistance.
How many types of insurance covers are offered by the Bajaj Allianz General Insurance?
The Bajaj Allianz General Insurance provides different types of insurance plans such as motor insurance, health insurance, travel insurance, pet insurance, cyber insurance and home insurance.
How can I renew my Bajaj Allianz insurance plans online?
You can renew your insurance plans by visiting the website of Bajaj Allianz General Insurance and entering your policy number, plan expiry date and captcha code. Filling up these will bring insurance policy details before you that you can modify and pay for the opted policy.
How many network garages and network hospitals do you have across India?
The Bajaj Allianz General Insurance has 4,000+ network garages and 6,500+ network hospitals across the nation.
Does Bajaj Allianz General Insurance offer its services through any app?
Yes, the company has launched a Caringly Yours App with which policyholders can see the policy details, file the claims, track the claim status, undertake self-assessment of property risks and much more.