Bajaj Allianz General Insurance Company
Bajaj Allianz General Insurance Company Limited is one of the top insurance companies in India. It offers different insurance products for individuals and businesses, like health insurance, car insurance, pet dog insurance, personal accident insurance, marine insurance, etc. The company started in 2000 as a joint venture between Bajaj Finserv Limited and Allianz SE.
Not only is the company known for its claims, but also has a reputation for providing reliable and responsive customer service. The company mainly focuses on customer centricity and strives to provide great service that leaves customers feeling appreciated and satisfied. In the financial year 2022-23, the company issued 2,79,04,160 policies and received 43,75,330 claims.
Awards & Recognitions
Bajaj Allianz General Insurance Company Limited was chosen as the Best Insurer in India by the IDC Financial Insights Innovation Awards in the year 2020.
It was also recognised for providing the Best Customer Experience and Best Brand Experience at the CX Asia Excellence Awards 2020.
Bajaj Allianz General Insurance Company Limited won the Gold Award in the Non-Life Insurer Category at the Outlook Money Awards 2020
It has also been honoured by Outlook Traveller with the Best Travel Insurance Award.
The company also received the Best Motor Insurance Provider of the Year award from Money Today.
Claim Settlement Ratio
The Claim Settlement Ratio (CSR) is an important measure that shows how well an insurance company handles and resolves claims. It is a percentage that represents the number of claims settled by the insurer compared to the total number of claims received in a financial year. And, Bajaj Allianz General Insurance Company Limited achieved a Claim Settlement Ratio of 86.9% in the fiscal year 2021-22.
By looking at an insurance company's CSR, you can assess its ability to honour claims. An insurer with a high CSR is considered to be trustworthy and reliable. It is also important to analyse an insurer's CSR track record over the past few years to determine if they are credible and consistent in settling claims.
The solvency ratio helps us understand an insurer’s ability to handle their financial responsibilities and ensure that they have enough money to settle your claims. According to IRDAI (Insurance Regulatory and Development Authority of India), insurance companies must maintain a minimum solvency ratio of 150%.
Bajaj Allianz General Insurance Company Limited has not only met but exceeded such requirements. As of March 31, 2023, their solvency ratio is an impressive 391%. This means they have plenty of financial resources to handle claims and stay stable even during unexpected situations.
Network hospitals have a special agreement with your insurer to provide cashless treatments - ensuring that you have access to quality healthcare without worrying about arranging cash.
When you get treated at a network hospital, you don’t have to pay for the medical expenses upfront and the insurer will directly pay the hospital bill. You will only need to pay for expenses not covered by your policy, like consumables, registration fees, administrative fees, etc.
Bajaj Allianz General Insurance Company Limited has over 8,000+ network hospitals. And, the good news is that you can find the network hospitals based on your location by visiting https://www.bajajallianz.com/branch-locator.html . You can also check whether your preferred hospital is listed with the insurer and how many hospitals in your area are included in their network using this link.
Network garages are authorised repair facilities approved by the insurance company to get your vehicles repaired in the event of an accident or damage. In this case, you won't have to bear the repair costs from your end and the insurance company will settle the bill. You only need to cover the deductible and any applicable consumable charges.
Bajaj Allianz General Insurance Company Limited has over 6,500+ cashless network garages that offer convenient vehicle repair services. And, you can check the number of garages listed with the insurer based on your location as well as find the number of network garages available in your vicinity by visiting https://www.bajajallianz.com/preferred-garages.html .
You can easily reach Bajaj Allianz General Insurance Company Limited's dedicated customer support team by calling the toll-free number 1800-209-5858 . to get assistance on your insurance policies, answers for your queries, and comprehensive information about their services.
For any communication, inquiries, or support, you can also send an email to email@example.com and get prompt assistance.
If you have any doubts, questions, or issues, Bajaj Allianz General Insurance Company Limited offers alternative contact options to get in touch with them -