- Coverage is available for 10 critical illnesses
- Lifelong renewal option available
- 10% family discount available in policy.
- Personal disability and death cover
Most Popular Policies of Bajaj Allianz General Insurance
- Bajaj Allianz Critical Illness Policy
This policy pays out hefty amount upon diagnosis of critical illness of proposer.
Key features of Critical Illness Policy
- Bajaj Allianz Family Floater Health Guard Policy
The plan aims to cover an entire family which means any insured member of the policy can utilize the sum insured to pay hospitalization expenses.
Key features of Family Floater Health Guard plan
- Coverage available for laser eye surgery after 4 years of waiting period
- No sub-limits applicable on boarding and room rent
- Availability of second opinion in case of critical illness
- Discount on premium is applicable if proposers opt for deductible
- Bajaj Allianz Health Care Supreme Policy
The policy provides coverage for medical expenses and it comes with variants like individual and family floater.
Key features of Health Care Supreme Policy
- Availability of add-on covers like personal accident cover, ancillary cover, critical illness cover
- Lifetime renewal and lifetime entry available
- No sub-limit on room rent
- Co-pay is not applicable
- Bajaj Allianz Car Insurance Policy
This is a comprehensive policy that protects proposers' car against third party liabilities and its own damage.
Key features of car insurance policy
- 24x7 Spot Assistance Cover
- Locks and Keys Replacement Cover-
- Exclusive benefits available with 'EEZEE' card
- Personal Care Policy available (only for winners of vehicles manufactured by Skoda or Volkswagen)
About Bajaj Allianz General Insurance Company
Bajaj Allianz General Insurance came into existence as a result of the joint venture between Allianz SE. and Bajaj Finserv Limited which is lately separated from Bajaj Auto Limited. Both of these establishments are reputable in terms of strength, expertise, stability.
Being a leading provider of general insurance, Bajaj Allianz caters to the needs of individuals, families and businesses across India with by providing a wide array of insurance plans and value-added services.
The registration of Bajaj Allianz was certified by IRDA on 2nd May, 2001 to offer its wide range of insurance products. Among all offerings, Bajaj Allianz car insurance, Bajaj Allianz health insurance plans are most popular among consumers in India. The total paid up and authorised capital of Bajaj Allianz General Insurance is Rs 110 crores. This capital is shared by Bajaj Finserv Limited and Allianz SE. Bajaj Finserv Limited holds 74% of the total stake and the Allianz SE takes care of the 26% remaining capital.
Headquarter of Bajaj Allianz General Insurance is located in Pune. In the last financial year, Bajaj Allianz has expanded its reach by setting branches in more than 400 new towns all over India. Bajaj Allianz customer care service is bespoke and this is one of the chief reasons why Bajaj Allianz General Insurance has gone from strength to strength.
Financial details of Bajaj Allianz General Insurance
Till the close of fourth quarter that ended on 31st March, 2016, the net profit of Bajaj Allianz General Insurance saw an increase of a whopping by 44%. The total net profit of Bajaj Allianz is Rs 208 crore at the end of fourth quarter. It can be noted that in the last financial year, net profit of Bajaj Allianz General Insurance was 144 crore. Bajaj Allianz also saw a rise in the gross written premium in the March quarter as well. From Rs 1,465 crore, the gross written premium rose to Rs 1,730 crore in the March quarter.
Bajaj Allianz General Insurance settled as many as 7,000 claims which is worth Rs 470 crore in then aftermath of Chennai floods in the previous year. That’s why Bajaj Allianz General Insurance’s net income remained flat at Rs. 564 crore in the last fiscal.
According to Tapan Singhel, the Managing Director and Chief Executive of Bajaj Allianz General Insurance, the profit of Bajaj Allianz in last 5 years increased at CAGR of 46% and Bajaj Allianz paid out Rs. 15000 crore to its customers for claims.
Achievements of Bajaj Allianz General Insurance
Bajaj Allianz General Insurance received iAAA rating for 10th years in a row from ICRA. This clearly indicates Bajaj Allianz’s robust position in industry and ability of paying claims. Bajaj Allianz General Insurance received its first accreditation in 2005-06 and remained consistent since then.
Bajaj Allianz General Insurance is known as one of the best employers in India. Bajaj Allianz got recognition for its employee friendly policies and healthy work environment General Insurance as it won the Aon Best Employer 2016. Bajaj Allianz was also recognized by Outlook Money Awards 2015 for extraordinary claims management services and innovative insurance products.
Bajaj Allianz General Insurance was also considered as one of the top brands in India by consumers belonging to urban India which lead to Bajaj Allianz’s win of Best Corporate Brand Award by Economic Times. Pharma Leaders also recognized Bajaj Allianz’s for its bespoke claim settlement record and contribution in the space of health insurance and awarded Bajaj Allianz General Insurance Power Brands Awards in 2015.
The rank of Bajaj Allianz General Insurance was 2nd among best health insurers in India in term of customer loyalty according to a survey by IMRB. Bajaj Allianz was also awarded The Silicon Valley Business Award in 2015 for its innovation called Insurance Wallet. Bajaj Allianz General Insurance got the Claims Award Asia 2015, for three years in a row as well.
Bajaj Allianz General Insurance – Some latest happenings
Apart from the myriad of awards and accolades, Bajaj Allianz General Insurance has also made some groundbreaking steps in recent times. These measures have earned Bajaj Allianz a dominant position in general insurance sector and helped this non-life general insurer surpass its competitors. Here are some achievements of Bajaj Allianz that made it stand out from the rest.
Bajaj Allianz is making a mark in crop insurance
Bajaj Allianz General Insurance is eyeing a staggering Rs 100 crore worth underwriting premium under the Pradhan Mantri Fasal Bima Yojana during the ongoing Kharif season in Haryana. Haryana government authorized Bajaj Allianz for implementing the proposed scheme in seven districts of Haryana.
Apart from Haryana, Telengana and Andhra Pradesh Government also authorized Bajaj Allianz to carry out the scheme in three and seven districts respectively. According to officials, Bajaj Allianz was also keen to execute the similar scheme in states like Gujarat, Maharashtra, Bihar and Rajasthan.
In 2015, Bajaj Allianz General Insurance came up with an insurance scheme for orange crops which is based on in some districts of Maharashtra. Bajaj Allianz also initiated a campaign for creating and spreading awareness about the scheme.
In 2014, Bajaj Allianz General Insurance had over 33 lakh farmers insured under crop insurance schemes, proposed by the government. Bajaj Allianz paid out Rs 434 crore worth claims to over 27 lakh farmers.
Bajaj Allianz launched long-term two-wheeler package policy
Bajaj Allianz General Insurance launched a long-term two-wheeler insurance policy. This innovative plan by Bajaj Allianz not only keeps two-wheelers insured for as many as three years in a row but also offers free roadside assistance 24×7 to women policyholders for the first year. This innovative plan by Bajaj Allianz will reduce cost of premium compared to a two-wheeler plan valid for one year.
The service of roadside assistance 24X7 by Bajaj Allianz is available for flat tire and flat battery. Bajaj Allianz through its service provider will also provide fuel assistance, deliver spare keys and further facilitates the insured with towing service, minor repairs, taxi and accommodation benefits and even legal advice if needed. According to Bajaj Allianz, the facility can be availed in 80 cities in India.
Apart from offering additional no-claim bonus, this long-term Bajaj Allianz two-wheeler policy also ensures that policyholders won’t lose a claim bonus even after making a claim.
This is yet another big step taken by Bajaj Allianz General Insurance in the space of two-wheeler insurance after the collaboration with Snapdeal. In 2015, Bajaj Allianz made the tie-up to sell two-wheeler insurance plans.
Bajaj Allianz ties-up with Ola Cabs
Bajaj Allianz General Insurance made alliance with Ola Cabs to provide Bajaj Allianz car insurance plans to drivers of Ola Cabs. Both Bajaj Allianz and Ola Cab are aiming at putting together a robust digital infrastructure for online transactions of Bajaj Allianz car insurance policy purchase and insurance claims.
Apart from the accident coverage worth Rs 2 lakh, the Bajaj Allianz motor insurance cover also protects the insured vehicle from theft and man-made and natural calamities. Bajaj Allianz further boasts a dedicated call centre for all driver-partners working with Ola Cabs.
Bajaj Allianz Health Insurance Plans
Bajaj Allianz Travel Insurance Plans
Bajaj Allianz Motor Insurance Plans
Bajaj Allianz Two Wheeler Insurance
Contact Details – Bajaj Allianz General Insurance Company:
GE Plaza, Airport Road, Yerawada,
Pune- 411 006, Maharashtra