With the focused commitment and drive towards the mission to be India’s life goals enabler, Bajaj Allianz Life (the Company) is today one of the leading private life insurers in the country. The Company is a partnership between two household names and powerful entities in their own right – Bajaj Finserv Limited of the Bajaj Group, and Allianz SE, the world’s leading insurance conglomerate.
Bajaj Allianz Life commenced its operations in 2001. In less than two decades, it has expanded its presence across the country, serving large sets of customers through its 582 branches spread across India, 80,000+ agents, a large set of partners and strong presence within the online category. It has been able to do so because the Company innovates, develops, and offers a diverse portfolio of life insurance solutions that are comprehensive, customised, and cater to every segment in the market. The immense trust earned by the Bajaj Allianz Life brand in India, combined with competitive pricing and technical expertise, has allowed the Company to position itself as a one of the market leaders among private life insurer.
Over the past year, Bajaj Allianz Life has continued to nurture this position, while adding more feathers to its cap. The Company also aims to be at the forefront of tech-enabled services and digital disruptions in this space. It has embraced the latest technologies in order to expand presence digitally by enhancing mobility solutions, analytics, and cloud services amongst other tech innovations. It is moving towards the automation of processes in order to foster a competitive edge and impetus for its intermediaries, employees and partners, with a goal to ensure a holistic, enhanced customer experience.
As a life insurer, Bajaj Allianz Life continues to be committed to stand by its customers at their time of need. It’s enhanced processes and automation has helped customers also during the claim process. The Company has paid more than 2 lakh individual claims between FY 2006-07 and FY 2018-19, with the total claim amount exceeding INR 3,600 crores, and has significant Claim Settlement Ratio, which stood at 95.01% for FY 2018-19.
Bajaj Allianz Life is consistently recognized for the value that it generates for the industry and for its customers. In 2018, it was featured amongst the Top 75 Most Valuable Indian Brands in a report by WPP Plc. and Kantar Millward Brown. In the 2019 Nielson and ET Brand Equity’s Most Trusted Brands survey, Bajaj Allianz Life ranked #3 amongst the most trusted private life insurers.