Bajaj Allianz General Insurance Co. Ltd.

Company Profile

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 insurers in the industry with offices in about 950 towns and cities. The Company has been constantly expanding its operations to take insurance to the last mile.

Bajaj Allianz General Insurance caters to individuals across demographics of the country and the corporate sector with its wide range of industry-first products and best-in-class services. The Company is not only bringing insurance solutions to the customers’ doorstep but also improving insurance penetration, with its advanced digital presence and innovation-led approach. The Company is known for its strong claims-paying ability and best-in-class claim service. The Company has a strong focus on customer centricity and aims at delivering superior value with an excellent and caring experience for the customers. That’s not all, BAGIC has always been known as distributor friendly and has been at the forefront of ensuring that the partners get the industry-best support to help them grow with the business.
The Company reaffirmed its strong financial position in the industry by posting more than 12% growth in revenue to INR 15,487 crore in FY’23. The Company’s net profit for the period stood at a handsome INR 1,348 crore in FY’23. Bajaj Allianz General Insurance also reported a healthy Combined Ratio of 100.5% and a Solvency Ratio of 391% in this period. This can be accredited to the Company’s prudent underwriting norms, risk-based pricing, and sound financial position.

Bajaj Allianz General Insurance has embraced digitalization as a primary enabler and has been working continuously on the automation and digitization of its service offerings. It offers real-time solutions to its customers and partner via mobile applications and dedicated portals. The industry-first initiatives by the Company like an artificial intelligence-driven chatbot, app-based instant motor claim settlement, proactive claim travel claim settlement through blockchain technology, cashless claim settlements, wellness app and portals, digital offices, and mobile applications such as EezeeTab 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 has been honoured with several prestigious awards for its innovative products, technology leadership, operational excellence, and commitment to customer satisfaction. These awards reflect Bajaj Allianz General Insurance’s industry leadership, financial strength, and dedication to delivering exceptional value to its customers. The organization received the prominent General Insurance Company of the Year award at the 26th Asia Insurance Industry Awards, Non-Life Insurer of the Year award at the Outlook Money Awards 2021, and Best Organization for Women 2023 by The Economic Times. The Company won the Best Innovation in Customer Experience – General Insurance-2021 Award at India’s most prestigious BFSI Tech Innovation Web Conference & Awards, Gold Award in the Non-Life Insurance Provider of the Year category at the 20th edition of the Outlook Money Awards 2020, General Insurance Company of the Year at India Insurance Summit & Awards 2020.

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Talents Behind Our Success

Products / Services

  1. Motor Insurance

    Car Insurance – This policy not just provides cover against accidental damage and theft, but also lets you customize your policy by choosing from the host of add-on covers available. Some of these include Depreciation Shield (protection from depreciating value of the car during claims), 24×7 Roadside Assistance (one stop support for roadside emergencies such as towing, flat tyre change, battery jumpstart among others). With an extensive tie-up with network of over 4000 garages providing cashless claim settlements and the On The Spot (OTS) facility and get a claim settlement within in 20 minutes, this is truly an policy that cares for you in your time of need.

    Long term Two wheeler insurance – Give your bike extensive coverage against damages caused due to personal accident, theft, calamities and third party. Additionally, benefit from services such as On the Spot (OTS) and get instant claims settlement within 20 minutes via our mobile app and get cashless settlement services with an extensive network of +4000 garages. We give you the option of further strengthening your coverage with quality add on covers such and engine protector (which keeps you financially protected against any repair cost in case of a damaged engine and/or its parts), consumable expenses, 24×7 Roadside assistance amongst others. One can opt for a long term two wheeler insurance for 3 years and be protected for a longer time which also ensures benefits such as No claim Bonus and hikes in premium rates.

  2. Cyber Insurance

    With the growing new age risks and crimes on the internet, Bajaj Allianz Individual Cybersafe Insurance protects you against ten potential threats under one single policy. It cares for you when you face emergent cases of Social Media harassment, Identity theft, Malware, Email spoofing and many more such scenarios. The policy cover also includes additional benefits such as psychological counselling and IT consultancy services.

  3. Agri Insurance

    Prime Minister’s Fasal Bima Yojna (PMFBY) and Weather based crop insurance are the covers available under this category. These safeguard the interests of the farmers by securing them against risks such as adverse seasonal conditions, non-preventable risks, unseasonal rains which affect post-harvest returns, depending on the plan chosen. Covers are available for loanee and non-loanee farmers

  4. Health Insurance

    Mediclaim insurance, top-up insurance, critical illness, personal accident, hospital cash are a few examples of policies available under health insurance. Over & above securing your health, these policies also offer you a tax benefit under Sec 80D. Some of the key product highlights are :

    Health Guard – A cashless mediclaim policy where you can opt for an individual sum insured or a floater cover. The SI ranges from Rs 1.5 lacs to Rs. 50 lacs and the individual health guard allows you to include your extended family as well. The cover provides an option to reinstate your Sum Insured, covers all day care procedures, provides lifelong renewal and policy term option of 1, 2 and 3 years. You can also settle claims easily via the CDC feature (Claim by Direct Click), where claims up to Rs. 20,000 can be reimbursed via mobile app.

    Extra Care Plus – This super top-up cover serves as a cushion when your basic health insurance plan is insufficient to meet your medical treatment needs. Pre-existing illness gets covered after 12 months of taking the policy and the wide range of deductibles makes this the perfect add-on product for your existing health insurance policy. This floater policy comes with the option of life time renewal and free health check-ups, as well.

    Critical Illness – This policy is a benefit policy which covers you in the event of a critical illness, wherein you get a lumpsum amount to plan your treatment or accordingly make any lifestyle changes. The sum insured options range between Rs. 1 lac to Rs. 50 lacs and it also offers covers donor expenses (in case of organ transplant).

  5. Travel Insurance

    Travel insurance by Bajaj Allianz cares for your well-being while you travel abroad. Here are the key categories under Travel insurance :

    Travel insurance for Individual – This plan category of travel insurance cares for an individual in case of unfortunate incidents while traveling abroad. Some of the key coverages include medical expenses cover, trip cancellation and curtailment, loss of passport and baggage. The sum insured amount varies from 50000 USD to 500000 USD.

    Travel insurance for family – Under this plan category of travel insurance , you can cover your entire family in a single policy. The coverage includes medical expenses cover, trip cancellation and curtailment, home burglary cover, loss of checked-in baggage and passport and emergency cash to name a few. The sum insured amount varies from 50000 USD to 500000 USD.

    Student Travel – This plan category of travel insurance is custom-made for students planning to pursue higher education abroad in international universities. Expenses in foreign countries can be very steep, and hence having a travel insurance in place for the specific tenure makes your life easier. The key coverages under this plan are hospitalization and medical cover, loss of checked-in baggage, loss of passport.

  6. Commercial Insurance

    Commercial insurance offers solutions for all sectors of the industry ranging from automotive, aviation, construction, chemicals, foods and beverages, manufacturing, oil and gas, pharmaceuticals, power, technology, telecom, textiles, transport and logistics. As all these sectors/activities involve heavy capital and investment, and a commercial insurance can really come in handy, when things go unexpectedly wrong.

    Here are some of the various types of commercial insurance products we offer that care for your organization :

    • Property insurance
    • Marine insurance
    • Liability insurance
    • Financial lines insurance
    • Engineering insurance
    • Energy insurance
    • Employee benefits insurance

    International insurance solutions

  7. Home Insurance

    We understand that your dream home involves a lot of investment, not just in terms of your money, but your time as well. A single unfortunate event like a natural disaster or even a burglary can cause a huge amount of financial loss. That’s where home insurance can really come into the picture to save the day. We offer robust home insurance policies that allow you to cover your home and its contents, with coverage extending over several years. Our policies can be useful for homeowners, and even if you are living in a rented accommodation. Our care-filled approach is also reflected in the many add-on covers we offer. Our loss of rent cover, for example, is an add-on that kicks in if your home is damaged due to an unforeseen incident, and your tenants vacate it. Similarly, we have more thoughtful add-ons such as ATM withdrawal robbery cover, key & lock replacement cover, temporary resettlement cover and dog insurance cover as well. Some of our covers, like the one for portable equipment, are even applicable worldwide for a small additional fee.

Corporate Social Responsibility

Promoting health care:

  • Smile Train: Funding over 3300 cleft surgeries for poor children at selected centers in India
  • Tata Memorial Hospital: Funding treatment and support for children suffering from cancer
  • Deenanath Mangeshkar Hospital: Funding center for epilepsy treatment of children
  • Visionspring: Support for vision care program involving screenings, specs distribution and surgical referral for over 4 lakh population across three states.

Promotion of education:

  • Globe Mills Passage School: Support for operational expenses of Muktangan school for children from low income community
  • Foundation for Excellence India Trust: Funding MBBS course for 50 students from underprivileged background
  • Swa Roop Wardhini: Support for various education programs for children from slum areas

Homes and shelters:

  • Association for Rural and Urban Needy: Funding expenses of Rainbow Home, which provides shelter and education to erstwhile street children
  • SOS Children’s village: Financial support for setting up a new home for orphans
  • Snehalaya: Funding operating expenses at Snehankur adoption center
  • Mumbai mobile crèche: Funding for health and education support for children of construction workers
GET IN TOUCH

Have questions?

Please help us with the following information and our customer support team will reach out to you to solve the issue.

Corporate Office Address : Bajaj Allianz House, Airport Road, Yerawada, Pune 411 006

+91-20-66026666

www.bajajallianz.com

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