Dun & Bradstreet India’s Leading BFSI Companies 2017

India’s Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S® No

Bajaj Allianz General Insurance

Financials ( ` mn)

Total Income Net Profit

Bajaj Allianz General Insurance Company Limited is a joint venture between Allianz SE, the world’s leading insurer and asset manager, and Bajaj Finserv Limited, one of India’s largest and most diversified non-bank financial institution. The company received its certificate of registration from IRDA on 2nd May 2001 to conduct general insurance business in India. Bajaj Allianz General Insurance, today, is one of the largest private insurers in the industry, with physical and virtual offices in over 1,000 towns and cities. The company has been constantly expanding its operations to reach out to its customers. Bajaj Allianz General Insurance caters to individuals across India’s demographics and the corporate sector with its wide range of products and services that go beyond insurance. The company is not only bringing insurance solutions to the customers’ doorstep, but also improving insurance penetration, with its advanced digital and mobile applications. Today, through its digital offices, it has reached out to 800 new Tier-II and Tier-III towns across India. It is also growing the footprint of personal lines of insurance through its All Women branches. Known for its claim

and customer service levels, Bajaj Allianz has received iAAA rating from ICRA for 11 consecutive years, which indicates the company’s highest claims paying ability and a fundamentally strong position. The company has a strong focus on customer centricity, and aims at delivering superior value with an excellent and caring experience for the customer. Today, the company is taking its relationships with the customers beyond insurance, by offering them a plethora of value added services beyond insurance. It is a one stop shop for a customer’s day-to-day concerns. The company reaffirmed its strong financial position in the industry by being the most profitable private insurer in the industry in FY16. The company posted profit after tax of ` 564 crore, despite huge claims due to the Chennai floods. The turnover for the period stood at ` 5,901 crore. The company is the only insurer in the industry to have posted profits consistently since its inception in 2001. Bajaj Allianz also reported a healthy Combined Ratio of 99.3%, the only insurer in the GI industry to have posted a combined ratio of below 100%. This can be attributed to the company’s

Growth and Profitability (%) prudent underwriting norms, risk based pricing and sound financial position. Bajaj Allianz General Insurance has embraced on digitalization as a primary enabler and has been working continuously on automation and digitization of its service offerings. It offers real time solution to its customers and partners via mobile applications and dedicated portals. Several of the company’s initiatives, such as cas less claim settlements, in- house Health Administration Team (HAT) and image-based policy as well as claim processing, digital offices and mobile applications such as Eezee Tab and Insurance Wallet by Bajaj Allianz have benchmarks in the industry. It is the first insurance company in the country to have laid the foundation for usage-based insurance through its telematics offering, Drive Smart . TI Growth (y-o-y) NP Growth (y-o-y) NPM (As on Mar 31, 2016) Financials ( ` mn) Total Income Net Profit Growth and Profitability (%) Dun & Bradstreet D-U-N-S® No Financials ( ` mn) Total Income Net Profit Growth and Profitability (%) TI Growth (y-o-y) NP Growth (y-o-y) NPM (As on Mar 31, 2016) Dun & Bradstreet D-U-N-S® No

TI Growth (y-o-y) NP Growth (y-o-y) NPM (As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S® No

Financials ( ` mn)

Total Income Net Profit

Growth and Profitability (%)

TI Growth (y-o-y) NP Growth (y-o-y) NPM (As on Mar 31, 2016)

91

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