Since inception, we at Bajaj Allianz General Insurance believe that innovation is the key to success and have consistently acted upon this by introducing industry first products and offerings. Below is a brief of the latest innovations by Bajaj Allianz:
Revised Health Guard:
Launched in 2017 this is a redesigned flagship health insurance product of Bajaj Allianz. The product offers coverage to individuals and their extended family under a single policy. It also offers an industry first feature of reinstatement of sum insured for same disease during the policy period. Other features of the policy are convalescence benefit, differential pricing based on the place of residence, flexible tenure options of 1, 2 or 3 years, reduced waiting period of 3 years for any pre-existing conditions and no co-payment for individuals aged 56 and above and taking treatment at non network hospitals.
Long Term Two Wheeler Plan:
Launched in April 2016, the long-term two-wheeler package policy allows customer to insure their two-wheelers for up to three consecutive years at one time. The policy comes with a 24x7 roadside assistance service, a first-of-its-kind offering along with a two-wheeler policy in the market. Till date, Bajaj Allianz General Insurance has sold 19,913 policies, generating premium worth Rs 5.84 crore.
Global Personal Guard Policy:
In June 2016, Bajaj Allianz General Insurance became the first insurer to launch a customizable global PA cover, with other industry-first features such as cover for adventure sports, air ambulance as well as EMI payment. Within months of its launch, Bajaj Allianz has sold 93,596 policies, generating premium worth Rs. 16.46 crore.
Bajaj Allianz General Insurance has recently launched a new travel insurance plan called Bharat Bhraman aimed at domestic travellers. The plan offers nation-wide comprehensive personal accident cover against Death and Permanent Total Disability for all modes of transportation. The sum insured for the plan ranges from Rs 50,000 to Rs 10 lakh. Customers can avail the plan based on per trip or on the number of days of travel or annually. The plan along with the mandatory personal accident cover, also offers flexibility to choose from 17 add-on covers one could choose according to their needs.
Bajaj Allianz General Insurance in September 2016, launched industry's first Telematics service offering called Drive Smart. The service is a platform for usage based insurance as it gives user real time feedback on policy holder's driving behaviour and helps them to align it with their motor premium. Customers can opt for the service free of cost while buying the company's motor insurance package policy or while renewing their policy. The Telematics offering comes with 12 features such as over-speeding alert, geo-fence violation alert, engine/battery health alert, towing alert, car service alert, 24*7 road-side assistance, tips on improving driving behaviour and many more. Till date Bajaj Allianz has sold 2,818 policies generating premium worth Rs 9.8 crore.
Leveraging the commonly used social media channel, Twitter, BAGIC launched #TweetInsurance, offering customer centricity and services like never before. This innovative tool offers convenience to company's customers and non-customers alike in getting insurance information and services instantly by simply sending a tweet at the Bajaj Allianz Twitter handle with relevant hashtags. TweetInsurance saw over 1600 instances of usage since its launch and an organic increase in number of followers by 150 and has resulted in increased positive brand sentiment by 28%.
The customer portal has been designed to provide Bajaj Allianz policyholders a consolidated view of all the insurance policies that they have bought till date. It helps the customers manage their policies and also avail other services related to insurance. With the help of this portal, the company aids at providing customers comfort and convenience while availing any of its services. Customers can do a host of things on the portal, including buy new policies, add and view policies, view their claim history, renew their policies online, intimate claims online, submit claim documents online, track the dispatch status of policies and get reminders about renewals. At present, 1.6 lakh customers are using the Bajaj Allianz customer portal.
To simplify claims management process and provide our customers with a convenient and hassle free experience, Bajaj Allianz has launched a unique facility where in customers can now instantaneously submit digital documents through company's self-service mobile application - 'Insurance wallet' for assessment and settlement. Through this new facility, a health insurance customer can now receive their claims of up to Rs 20,000 in 2 working days.