Bajaj Allianz General Insurance Company Limited

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:
1. Bajaj Allianz Individual Cyber Safe policy:

The Company has recently announced the launch of, Industry first a cyber-protection product for individuals. It provides comprehensive protection against various cyber risks such as Identity Theft, Malware Attack, IT Theft Loss, Phishing, E-Mail Spoofing, Cyber Extortion, Cyber Stalking. It also covers financial loss resulting from E-Mail Spoofing and Phishing, losses and expenses related to defence and prosecution cost related to identity theft, IT theft loss, restoration cost to retrieve or reinstall Data or Computer Program damaged by entry of the Malware. It also provides coverage for expenses incurred on Counselling Services treatment, claim for Damages against Third Party for Privacy Breach and Data Breach, Cyber Extortion Loss and transportation for attending Court summons. The cover can be purchased at an affordable rate by all Individuals above 18 years of age who use internet facility on a Computer System including Digital Devices; the Sum Insured for the cover ranges from Rs 1 lakh to Rs 1 crore.


2. Extra Care Plus:

Bajaj Allianz General Insurance recently launched a unique super top-up health insurance plan - Extra Care Plus. The product offers special covers such as cover for pre-existing diseases and maternity expenses with a waiting period of just 12 months. The company has also introduced the unique concept of aggregate deductibles in its new product. With this policy multiple claims, during the policy period can be clubbed to cross the deductible amount and trigger the claim pay out. A customer can avail the benefits of Extra Care Plus in case of expenses over and above aggregate deductible limits and up to the sum insured of the policy. Extra Care plus also offers emergency road ambulance cover, Organ Donor Expenses and an option to opt for an air ambulance cover.


3. Bharat Bhraman:

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 the flexibility to choose from 17 add-on covers as per their needs.


4. Revised Health Guard:

Launched in 2017 this is a redesigned flagship health insurance product. The product offers coverage to individuals and their extended family under a single policy. It also offers the 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.


5. Long Term Two Wheeler Plan:

Launched in April 2016, our long-term two-wheeler package policy allows customer to insure their two-wheelers for up to three consecutive years at one go. The policy comes with a 24x7 roadside assistance service, a first-of-its-kind offering with a two-wheeler policy in the market.


6. Global Personal Guard Policy:

In June 2016, BAGIC became the first insurer to launch a customizable global Personal Accident cover, with other industry-first features such as cover for adventure sports, air ambulance as well as EMI payment.


7. My Home All Risk:

Bajaj Allianz General Insurance was the first and is the only Indian insurance company to launch an all risk home insurance policy. The policy provides a cover on Agreed Value Basis, which takes into consideration the value of the property as per the sale deed, unlike other products that only cover the construction cost. It is a one-stop solution that meets the requirements of all kinds of home owner's viz. independent home owners, owners of apartments as well as tenants. It protects not only the home, but also its contents, including portable equipment, against all risks such as fire and allied perils, burglary and theft, natural calamities.


8. Travel Ezee:

Travel Ezee caters to overseas travel policy customers, wherein we proactively inform customers about their payout eligibility in case of an overseas flight delay. The existing standard claim process entails that the customer registers the claim followed by submission of the certificate of delay from the airline along with claim form. Travel Ezee, on the other hand, leverages Blockchain technology to proactively initiate the claims process and to notify the customers. Travel Ezee empowers customers to receive their claims instantly without actually filing for it for an overseas flight delay.


9. Motor OTS:

The Motor On The Spot (OTS) initiative we've launched brings the claim settlement period down to a mere 20 minutes, without any human intervention. The initiative allows a customer to self-inspect and file a claim through the Insurance Wallet app. The customer just needs to click pictures of the damaged vehicle and enter policy number and relevant bank details. With all the details in place, the feature allows us to settle claims up to Rs. 20,000 within minutes.


10. Chatbot-Boing:

In an endeavor to make customer service flawless and quick, the company launched an artificial intelligence driven Chatbot service platform called "Boing" which will offer 24/7 customer assistance and instantly respond to customer queries. The Chatbot service is available on the website, mobile app and on the company's Facebook page. Currently the Chatbot with its easy to use interface will address the below queries:

  • Register a motor claim
  • Get policy soft copy
  • Check policy status (Motor & Health)
  • Check claim status
  • Locate Branch
  • Locate Hospital
  • Locate Workshop

11. Drive Smart:

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 behavior 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.


12. CDC Health:

To simplify claims management process and provide our customers with a convenient and hassle free experience, we launched a unique facility wherein customers can now instantaneously submit documents digitally through the 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.


13. TweetInsurance:

Leveraging the commonly used social media channel, Twitter, we launched #TweetInsurance, offering customer centricity and services like never before. This innovative tool offers convenience to our customers and non-customers alike in getting insurance information and services instantly by simply sending a tweet to the Bajaj Allianz Twitter handle with the relevant hashtags.


14. Customer portal:

The customer portal has been designed to provide policyholders a consolidated view of all the insurance policies that they have bought from us 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 aims at providing customers comfort and convenience while availing any of its services. Customers can do a host of things on the portal, including buying new policies, adding and viewing policies, viewing their claim history, renewing their policies online, intimating claims online, submitting claim documents online, tracking the dispatch status of policies and getting reminders about renewals.