Bajaj Allianz Life Insurance: Comprehensive Coverage, Peace Of Mind

Bajaj Allianz Life Insurance Co. Ltd. is one of India's leading private life insurance companies, offering a range of insurance products to meet the diverse needs of its customers. The company was established in 2001 through a joint venture between Bajaj Finserv Limited, a prominent non-banking financial institution in India, and Allianz SE, a global leader in insurance and asset management. Bajaj Allianz Life Insurance is committed to providing innovative and value-packed insurance solutions that are simple to understand and purchase, catering to a wide range of customer needs, including protection, wealth creation, retirement solutions, and more. The company has built a strong distribution network across India and leverages technology to enhance customer engagement and accessibility. With a focus on customer-centricity and innovation, Bajaj Allianz Life Insurance has become one of the fastest-growing life insurers in the country, serving over 4.02 crore individuals and groups and managing substantial assets.

The company's history and leadership

Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between Bajaj Finserv Limited, a prominent non-banking financial institution in India, and Allianz SE, a global insurance and asset management company. The company began operations in August 2001 and is headquartered in Pune, Maharashtra, India.

Bajaj Allianz Life Insurance has established itself as one of India's leading private life insurers, focusing on providing value-packed and innovative products that are simple to understand and purchase. The company offers a range of insurance solutions, including ULIPs, child plans, group insurance, health insurance, and retirement solutions, catering to diverse customer needs.

The leadership team at Bajaj Allianz Life Insurance has played a pivotal role in the company's success and expansion. Here is an overview of the key leaders:

Tarun Chugh is the Managing Director and Chief Executive Officer, bringing nearly three decades of experience in the financial services industry. He has a reputation as a transformational leader, driving strategic initiatives and building long-term relationships with stakeholders. Tarun has previously held leadership roles at PNB MetLife and ICICI Prudential Life and is an alumnus of IIT Delhi and IIM Lucknow.

Bharat Kalsi serves as the Chief Financial Officer, joining the company in October 2019. He has over 23 years of experience across BFSI and IT sectors and has held financial leadership roles at Tata AIA Life Insurance, Max Life Insurance, and other prominent companies. Bharat is a Certified Public Accountant and a Chartered Financial Analyst.

Anil P.M. is the Head of Legal & Compliance and the Chief Compliance Officer at Bajaj Allianz Life Insurance. With over 24 years of legal experience, he provides strategic advice and ensures compliance with legal and regulatory requirements. Anil has worked with other leading insurers and has a Bachelor's degree in Law and a Master's degree from the University of Minnesota.

Sampath Reddy is the Chief Investment Officer, leveraging over 15 years of experience in fund management. He has played a crucial role in strengthening customer trust by delivering strong fund performance. Sampath has worked with Principal PNB Asset Management and other financial institutions, and he is a CFA Charter Holder.

Avdhesh Gupta is the Appointed Actuary at Bajaj Allianz Life Insurance, responsible for actuarial valuations, shareholder reporting, product pricing, and financial risk management. With over 15 years of experience, he has held similar roles at PricewaterhouseCoopers, Aegon Life Insurance, and other companies. Avdhesh is a Fellow of the Institute of Actuaries of India and the UK.

The company's products and services

Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited, a diversified non-banking financial institution in India, and Allianz SE, a leading global insurer and asset manager. The company began operations in 2001 and is headquartered in Pune, Maharashtra, India.

Bajaj Allianz Life Insurance offers a range of comprehensive life insurance solutions, including term insurance plans, child insurance plans, group insurance plans, pension plans, and unit-linked insurance plans (ULIPs). Their products are designed to meet long-term life goals such as protection, wealth creation, retirement solutions, and more.

The company has a strong focus on innovation and customer-centricity, and they have introduced several first-of-their-kind product features and services. They have developed an extensive distribution network across India, including branches, agents, partnerships with key banks, and a large network of corporate agents.

Term Insurance Plans:

• Bajaj Allianz Life eTouch II: A non-linked, non-participating, individual life insurance term plan offering comprehensive coverage with convenient services.
• Bajaj Allianz Life iSecure: A non-linked, non-participating term life insurance plan with affordable premiums and high coverage.

Child Insurance Plans:

Bajaj Allianz Life offers plans that provide financial security for children's future needs, such as education, marriage, and more.

Group Insurance Plans:

Bajaj Allianz Life provides group insurance solutions for employees, offering comprehensive protection and benefits.

Pension Plans:

Bajaj Allianz Life offers pension plans that guarantee a regular income during retirement, ensuring financial stability.

Unit-Linked Insurance Plans (ULIPs):

• Bajaj Allianz Life Goal Assure: A unit-linked, non-participating, individual life savings insurance plan that offers market-linked returns and tax benefits.
• Bajaj Allianz Life Future Wealth Gain: A unit-linked, non-participating, individual life savings plan with various fund options to choose from, including the Nifty 500 Multicap Momentum Quality 50 Index Fund.

These plans offer customers flexibility, investment options, and the potential for market-linked returns, along with life insurance coverage.

In addition to their insurance products, Bajaj Allianz Life Insurance also provides convenient services such as online premium payments, a dedicated customer portal, and a mobile app for comprehensive policy management.

The company has received numerous awards and recognitions for its innovative products, customer-centric approach, and strong financial performance.

Customer testimonials

Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited, a prominent non-banking financial institution in India, and Allianz SE, a global leader in insurance and asset management. With a focus on helping customers achieve their life goals, Bajaj Allianz offers a range of innovative and value-packed insurance products that are simple to understand and purchase. Here are some customer testimonials highlighting their experiences with Bajaj Allianz Life Insurance:

"I have invested in various products of Bajaj Allianz Life Insurance, and I am happy with the services, returns, and diversified product portfolio." This customer appreciates the wide range of investment options offered by Bajaj Allianz and is satisfied with the returns and services they have received.

"I am a happy customer who is satisfied with the after-sales service. I have full trust in Bajaj Allianz Life Insurance Company." This testimonial emphasizes the high level of trust and confidence that the customer has in Bajaj Allianz, especially regarding their after-sales support.

"I was introduced by my advisor to invest in Bajaj Allianz Life Insurance. I have invested in the same and am happy with the returns and services." Here, the customer mentions the role of their advisor in recommending Bajaj Allianz. They are pleased with the investment returns and the overall service provided by the company.

"I am a 7-year-old customer of Bajaj Allianz Life Insurance and very happy about the services." This long-term customer expresses their satisfaction with the services provided by Bajaj Allianz over an extended period.

"I have taken the life insurance policy from Bajaj Allianz. And it has the best payout options which can be received in the form of instalments as per your convenience. It has become easy for me and my family." This customer highlights the convenience and flexibility offered by Bajaj Allianz's life insurance policy, especially regarding the payout options available to them and their family.

"I bought this plan from the website of Policybazaar. The assistance given by the team of Policybazaar and Bajaj Allianz is good. They helped my friend in getting a claim, and that's why I bought this plan from them. Thanks, team." This customer shares their positive experience with both Policybazaar and Bajaj Allianz, specifically mentioning the helpful assistance received during the claim process.

These testimonials reflect the satisfaction and trust that customers have in Bajaj Allianz Life Insurance, highlighting the company's commitment to providing innovative solutions and reliable services to help customers achieve their life goals.

Contact information

Bajaj Allianz Life Insurance Co. Ltd. has a range of contact details available for customers, depending on their needs.

For sales, customers can call the toll-free number 1800-209-4040 or email [email protected].

For service, customers can call the toll-free number 1800-209-7272, email [email protected], or call +91-20-35125850 (call charges apply).

The company also provides a toll-free number for customers calling from India: +912067871700 (call charges apply).

For corporate business, customers can email [email protected].

For online purchase, customers can call the toll-free number 1800-209-4040.

For assistance with policies bought from the website, customers can call the toll-free number 1800-209-7272 or email [email protected]. This service is available Monday to Saturday, 9:00 AM to 7:00 PM (IST).

The branch visit timings are Monday to Friday, 9:00 AM to 3:30 PM (IST), and Saturday, 9:00 AM to 1:00 PM (IST).

The company also provides contact details for its registered office: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006, Maharashtra, India. The telephone number is 020-66026773.

Additionally, customers can reach out to the whistleblowing and cyber cell departments via email at [email protected] and [email protected], respectively.

NRI Services Helpline

For customers who are Non-Resident Indians (NRIs), Bajaj Allianz Life Insurance provides a dedicated helpline. The phone number is +912067871700 (call charges apply), and the email address is [email protected]. This service is available Monday to Saturday, 9:00 AM to 7:00 PM (IST).

Awards and recognition

Bajaj Allianz Life Insurance has received numerous awards and recognition over the years. Here is a list of some of their notable achievements:

• Finnoviti Award 2024 for their Humanoid Ecosystem
• 6th National Anti-Fraud Conclave and Awards 2024 - 'Fraud Risk Management Team of the Year'
• ET Edge's 'The Most Promising Business Leaders of Asia 2024' awarded to their MD & CEO, Mr. Tarun Chugh
• Kincentric 'Best Employer India 2023' & India 'Best Employers Club 2024'
• Navbharat BFSI Summit and Awards 2023 - 'Most Innovative Product Award' (Life Insurance Category)
• World's Digital Insurance Award 2023 - Innovative WhatsApp AI Conversational Platform
• CEO Insights' 'Top 10 Leaders in Banking and Insurance Industry 2023' awarded to their MD & CEO, Mr. Tarun Chugh
• ETBFSI Exceller Award 2023 - 'Customer Data Platform' initiative
• CII's DX Digital Transformation 2023 Awards - 2 Gold and 1 Silver awards
• Pitch BFSI Marketing Summit and Awards 2023 - 3 awards
• Insurance Asia Awards 2023 - 2 awards
• DATAMATIXX Awards 2023 - Gold award
• Outdoor Advertising Awards 2023 - Silver award
• APAC Region's Insurer Innovation Award 2023 - WhatsApp Conversational Platform
• Assocham Award for Humanoid Project
• 6th Annual Insurance India Summit & Awards 2023 - CEO of the Year Award to their CEO, Mr. Tarun Chugh
• Express BFSI Technology Awards 2023 - 'AI' category award for the 'Humanoid AI Project'
• Future of Insurance Summit & Award 2023 - 'CEO of the Year' awarded to their CEO, Mr. Tarun Chugh
• Future of Insurance Summit & Award 2023 - 'Best Life Insurance Company of the Year'
• Kincentric Best Employer India 2022 & India Best Employer Club 2023
• India Insurance Summit & Awards 2023 - CEO of the Year, Life Insurance category, awarded to their CEO, Mr. Tarun Chugh
• 16th edition of Customer Fest Show 2023 - 2 awards
• Bajaj Allianz Life Insurance has also won several other awards for their digital innovation and marketing campaigns.

Frequently asked questions