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Bajaj Allianz General Insurance and Life Insurance received the Bloomberg UTV Financial Leadership Award 2011 organized by Bloomberg UTV and MCX in Mumbai.
The insurer received awards across multiple categories. Bajaj Allianz General Insurance bagged the award for ‘General Insurer of the Year - Private Sector’ whereas Bajaj Allianz General and Bajaj Allianz Life Insurance bagged the awards for ‘Best Contribution in Investor Education and Category Enhancement of the year’.
The Chief Guest Hon. Finance Minister Pranab Mukherjee presented these awards to the best names in the financial sector for their remarkable contribution. The selection process was conducted by ICRA in detail using various parameters through a detailed methodology.
Hemant Kaul, MD and CEO of Bajaj Allianz General Insurance Company was ecstatic to receive the award. He said, “This award is in recognition of our customer service levels as well as our core business philosophy, which strongly emphasizes growth with profitability. We are grateful to our 3.5 crore customers who have reposed their trust in Bajaj Allianz over the last several years.”
Bajaj Allianz is a 74:26 joint venture between Bajaj Finserv of India and the Allianz SE of Munich, Germany.
Bajaj Allianz General Insurance is one of the leading general insurers in the private sector and the company recently tied up with Berkshire Insurance which will exclusively sell their motor insurance policies. The insurer has varied plans in the health insurance, car insurance and home insurance segment.
Bajaj Allianz Life Insurance, with a strong product portfolio, is also a significant contributor to the business of private life insurers.
Commenting on their achievement in the Investor Education and Category Enhancement, V Philip, CEO of Bajaj Allianz Life said, “The award appreciates our superior fund performance and transparency with investors. We continuously make efforts to educate investors using innovative publicity materials and have put in place initiatives like sharing fund value in the renewal notices and sending renewal reminders in 11 regional languages, to enhance customer service. We believe an informed customer will help us to grow our business as they will continue to remain with us and bring in more customers.”