Business Summary
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 insurer in the industry with offices in over 1100 towns and cities. The Company has continuously been expanding its operations to reach out to its customers.
Bajaj Allianz General Insurance Company Limited May 2nd, 2021 we completed 20 years of care. In our two decades long journey we rose from a humble start-up to an industry leader. We have gained the trust of close to 11 crore customers with the help of over 9000 employees, a robust distribution network of more than 80,000 agents, almost 9,000 motor dealer partners and over 240 bank partners. We are also associated with most brokers, web aggregators and major e-commerce platforms. We have formed meaningful relationships with our partners, customers and employees in the course of our journey so far.
Bajaj Allianz General Insurance Company Limited recently changed its brand identity to ‘Caringly Yours' to reposition itself in the minds of Indian consumers as a brand that protects and cares about customer's financial worries around their most prized possessions - their health, home & content, vehicles, businesses etc. With this, the Company not just aims to take its service to the next level, but also seeks to provide the best customer experience at every touchpoint and make insurance a pull rather than a push product.
Bajaj Allianz General Insurance caters to individuals across demographics of the country and the corporate sector with its wide range of products and services that go beyond insurance. The Company is not only bringing insurance solutions to the customers' doorstep but also improving insurance penetration, with its advanced digital and mobile applications. Today through its digital offices it has reached out to over 1000 new Tier 2 and 3 towns across India. The Company has a strong focus on customer centricity and aims at delivering superior value with an excellent and caring experience for the customer. Today the Company is taking its relationships with the customers beyond insurance, by offering them a plethora of digitised customer-centric initiatives.
Bajaj Allianz General Insurance Company Limited registered strong financial results for the first quarter of FY 2021-22 by posting revenue of ? 2,494 crores for the period. Company posted a net profit ? 362 crore. Bajaj Allianz General Insurance also reported a healthy Combined Ratio of 103.4% and solvency ratio of 340% for the period.
