Relationship Beyond Insurance – A Brand To Live By The Name
In addition to its unique product offerings, Bajaj Allianz General Insurance is also the first insurer to leverage a digital platform and speedy services to their policy holders. Committed to making innovative changes using digitization, the company became the first insurer in India to issue policies online, which led to the onset of another era. Besides that, the company has spread its wings across the digital world & initiated mobile Apps that empower them to take all policy related decisions independently.
The positioning of RELATIONSHIP BEOND INSURANCE gives a clear cut message across that we don’t merely sell insurance, but we maintain the relationship with our consumers even after the process. This proves that our after sales service is done with utmost care, ambiguity & humbleness. All our agents not only pitch products to our customers but give them what they need at that moment, which happens an organization cater to people instead of products
Given the strong support of its distribution network, the company today has an impressive market share of 6.7 percent. With its prudent underwriting norms and the philosophy of growth awareness & risk based pricing, Bajaj Allianz General Insurance is the only insurance company in the industry to have been escalating its business, while yielding profits, since its inception.
Bajaj Allianz has been known in the industry as a trendsetter, be it for being the first ones to bring cashless settlement or as a pioneer in settling in-house TPA for settlement of claims. They are the first private player to come up with innovative distribution channels like All India Women’s Branch and Virtual Offices, an alternate to traditional brick and motor offices. The company settled over 27000 claims worth Rs.930 crores which was possible due to their sound procedures and a strong bottom-line. Their key brand attributes are:
- Right partner in decisive moment
- Customized solution offering
- Value for money
- High standard of service
Another impending architecture they adhere is deciding on their custodians. At BAGIC, their employees are their Brand custodians and they firmly believe that it is done so because it is the best way to embrace the Brand and reflect what it stands for. Instead of confusing the TG with way too many external custodians and relatable/familiar faces, they keep the faces of our employees in every internal and external advertisements. Simply because, a target customer, a potential customer or an individual will have faith and confidence in them and there is also a chance they will believe the company.
Insurance can be a tricky game on the field and most work under good faith. But when it comes to giving money, many consumers may be skeptical with a private insurer. With the concept of employees being Brand custodians, there is a likelihood that these consumers will turn up when they need certain services, if they want to buy something or just want to be involved – all in good faith. The custodian of a brand can make or break a loyalty towards a brand, so vigilance is important. So BAGIC ensures that the Brand custodians always equals what the Brand stands for.
It isn’t uncommon to find may know brands giving out the communication to external agencies, but not here. At BAGIC, there are no external Agency/ partner. What they have is an In-House Studio, where all creative requirements are taken care of to cater to their clientele/customers. There are certain advantages of having an In-House Multimedia studio. Firstly, it is inexpensive & cost-effective.
The entire process flow is faster, as the end product quicker and is extremely accessible – unlike any external agencies who may have a slow response time and a higher TAT. Plus having their own studio gives them a comprehensible strategy, as they know the own products, services as well as the customer base. So the communication imparted is loud & clear, illicit with an adequate response.