Mr. Tarun Chugh
Managing Director and Chief Executive Officer
Needless of an introduction, Bajaj Allianz Life Insurance (a joint venture of Bajaj Finserv Ltd and Allianz SE) is a leading non-bank promoted private Life Insurance Company with high consumer awareness & consideration scores. 77,097 agents, 41 corporate agency tie-ups and various partners ranging from private banks, PSUs, regional rural banks, MFIs, small finance banks, NBFCs, cooperative banks, dairy board, common service centers and business correspondents, have empowered Bajaj Allianz as one of India’s leading & most trusted private life insurance companies today. With a PAN India presence across 638 branches, it caters to every segment and age income profiles from ULIPs to Child plans and Group Insurance, there by outstripping a milestone of Rs.50,000 crore Asset under Management(AUM).
An Odyssey of Policy
Recently, the corporation
launched a traditional Micro Group Insurance Term Plan,'Sampoorna Suraksha Kavach' to cover families from the burden of repaying an outstanding loan to a financial institution in the event of death/permanent total disability or critical illness of the insured member. Loan liabilities up to Rs.2 lakh are covered with an exclusive flexibility to choose between level & reducing cover on the basis of loan tenure coverage. Besides providing protection to your loved ones & yourself, Bajaj Allianz Life Insurance aims to maximize your wealth by investing in capital markets to help you achieve your future financial goals via a unit linked endowment plan with two variants - Wealth Plus & Wealth Plus Care, concurring to eight fund offerings.
Bajaj Allianz Life has introduced various digital functionalities accessible from desktop, tablets and smart phones for enhancing customer experience. These include a 24x7 virtual chat assistant 'BOING', which responds to customer queries instantly and has garnered an impressive response from its customers by processing more than 200,000 service requests. More over, the company has rolled out a one-stop digital platform ‘Life Assist’ for its customers to provide instant life insurance solutions via virtual branch experience, there by empowering customers with 24-hour access to the company’s services at their fingertips. Customers can instantly update their profile details, check claim status, change nominee, top-up premiums, choose riders, revive lapsed policies, access policy statements, switch funds and avail several other policy servicing features. Additionally, customers can access life insurance calculators and monitor the company’s fund performance for making informed investment decisions. All these services are authenticated via OTPs obtained on customers’ registered mobile number, thus safeguarding individual information.
Bajaj Allianz Life has introduced various digital functionalities accessible from desktop, tablets and smart phones for enhancing customer experience
Bajaj Allianz Life has introduced various digital functionalities accessible from desktop, tablets and smart phones for enhancing customer experience. These include a 24x7 virtual chat assistant 'BOING', which responds to customer queries instantly and has garnered an impressive response from its customers by processing more than 200,000 service requests. More over, the company has rolled out a one-stop digital platform ‘Life Assist’ for its customers to provide instant life insurance solutions via virtual branch experience, there by empowering customers with 24-hour access to the company’s services at their fingertips. Customers can instantly update their profile details, check claim status, change nominee, top-up premiums, choose riders, revive lapsed policies, access policy statements, switch funds and avail several other policy servicing features. Additionally, customers can access life insurance calculators and monitor the company’s fund performance for making informed investment decisions. All these services are authenticated via OTPs obtained on customers’ registered mobile number, thus safeguarding individual information.
A side from personal call and physical documents collection, the company manoeuvres its prowess entwined with digital initiatives to engage digital claim notification & documentation process for quick claim settlement. As a result the company accomplished an average turnaround time of just seven days for the settlement of 2,16,834 claims (both individual and group) amounting to Rs.1,033 crore in the last fiscal.
The Marketing Mantra
In the quest to educate and create awareness amongst people on importance of having a life insurance policy, the Company hosts 'Jan Jagruti' - a Life Insurance Awareness road show each year, that comprises street plays/Nukaad-Nataks. Further reinforcing its ‘Defeat the Tax Monster’ campaign in the current financial year with a new avatar, Bajaj Allianz Life pitched 'Tax Monster Returns' to create brand awareness, enhance brand visibility and build strong engagement among working professionals between the age group of 25 and 40 years.
No Stress Zone
Insuring over 23 crore people in the last decade, the firm has underwritten over 4.4 crore lives majorly through Group Protection business, residing to its leadership position in this segment. While the industry growth was at 21 percent in FY16-17, Bajaj Allianz Life Insurance has seen its business grow by 41 percent. Envisaging the vision of being the best Life Insurance Company to buy from, work for & invest in, Bajaj Allianz Life Insurance is committed to help people come out of their stressed zones and lead a happy carefree life with their Life Insurance products, enabling them to 'Jiyo Befikar'!
Key Management:
Mr. Tarun Chugh, Managing Director and Chief Executive Officer
Offerings:Life Insurance Solutions
Head Office: Pune
Awards & Recognitions:
• Awarded ‘Private Sector - Life Insurance Claims Service Leader of the Year’ at Fintelekt Insurance Awards 2017.
• Won Economic Times Best Brands Award 2017
• Best Life Insurance Company Award at ABP News BFSI Awards 2017 and many others.
The Marketing Mantra
In the quest to educate and create awareness amongst people on importance of having a life insurance policy, the Company hosts 'Jan Jagruti' - a Life Insurance Awareness road show each year, that comprises street plays/Nukaad-Nataks. Further reinforcing its ‘Defeat the Tax Monster’ campaign in the current financial year with a new avatar, Bajaj Allianz Life pitched 'Tax Monster Returns' to create brand awareness, enhance brand visibility and build strong engagement among working professionals between the age group of 25 and 40 years.
No Stress Zone
Insuring over 23 crore people in the last decade, the firm has underwritten over 4.4 crore lives majorly through Group Protection business, residing to its leadership position in this segment. While the industry growth was at 21 percent in FY16-17, Bajaj Allianz Life Insurance has seen its business grow by 41 percent. Envisaging the vision of being the best Life Insurance Company to buy from, work for & invest in, Bajaj Allianz Life Insurance is committed to help people come out of their stressed zones and lead a happy carefree life with their Life Insurance products, enabling them to 'Jiyo Befikar'!
Key Management:
Mr. Tarun Chugh, Managing Director and Chief Executive Officer
Offerings:Life Insurance Solutions
Head Office: Pune
Awards & Recognitions:
• Awarded ‘Private Sector - Life Insurance Claims Service Leader of the Year’ at Fintelekt Insurance Awards 2017.
• Won Economic Times Best Brands Award 2017
• Best Life Insurance Company Award at ABP News BFSI Awards 2017 and many others.