About Virtual Office

Insurance penetration in India is abysmally low at less than 1%. Over the years, it has also been observed that insurance companies are rigorously offering insurance solutions to consumers; however, a large chunk of the Indian population still remains untapped.There are 28 General Insurance Companies in India but most of them are focused in 8 major cities of India. Hence as a responsible Insurance player to penetrate the unrepresented market, with the aim to reach out to the customers in the remotest corners in the country, Bajaj Allianz General Insurance launched an innovative distribution initiative - Virtual Office in August 2014. The idea behind this initiative was to offer insurance solutions to the customers at their doorstep, thereby enabling employees and agents to make policy related decisions independently with the help of technology. The aim is not only to increase the organisational reach but also increase the market size of general insurance industry in India.

With this innovation, Bajaj Allianz General Insurance is doing away with the brick and mortar model of offices and bringing the entire office in a tablet. The tablet enables the user to access any information pertaining to a policy, its features, policy issuance, payment, etc. at the click of a button, at the customers' doorstep. The tab also enables the agents and employees to conduct primary inspection and the concerned documents can directly be sent to the offices via image mailing. Another feature supported by the tab is that it also permits payments at the time of policy issuance using a detachable dongle to swipe debit or credit cards or carrying out an online payment. As all transactions are done at the customer's doorstep, without involving a third party, the initiative has helped in substantially reducing frauds.