Bajaj Allianz plans to move beyond mere claim settlements

Company to provide value added services to customers

Bajaj Allianz General Insurance, today said that the new year will see the company go beyond just servicing claims. The company will provide value added services to some of its products in the general insurance segment.  

At present the value added services have been launched for its motor and health insurance products.  

“We have always wanted to bring a differentiated story to the market. And these initiatives are part of this. We want to go beyond just providing insurance claims. As of now we have begun with health and motor, we do plan to bring the home product also into it,” said Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance.  

Under the motor insurance, the insurer is providing 24x7 road side assistance to all its women policyholders. The road side assistance covers offer if the car is immobilised under which a women policyholder will get professional help or get pick up and delivery services. It covers instance such as flat battery, fuel assistance, space keys, flat tyre, towing facility and taxi benefits.  

Health policyholders can display the health card and avail discounts at pharmacy, dental or optical outlets and diagnostic centres. “We are trying to introduce such value added services in the home segment too,” added Singhel.  

In terms of 2014, Singhel said that though the sentiment may be positive not much have changed fundamentally. “I would bank on 2015 for growth rather than 2014. For the industry to grow I think we will have to grow our health, home and other personal lines of insurance. It will be either by expanding into new geographies or by increasing the penetration of these products,” he added.

Bajaj Allianz General Insurance had a 16.8 per cent rise in total premiums for the April-November period. According to data from Insurance Regulatory and Development Authority (Irda), the insurer collected total premiums of Rs 2928.39 crore for the period, compared to Rs 2505.62 crore in same period last fiscal.