Bajaj Allianz General Insurance Company Adopts Snowflake’s AI Data Cloud to Enhance Product Targeting and Customer Experience through 360-Degree Data Insights

Snowflake, the AI Data Cloud company, announced that Bajaj Allianz General Insurance Company, a leading private general insurers in India, has selected Snowflake AI Data Cloud to augment its data platform. Business teams leverage these insights to understand business metrics, make informed decisions, and respond swiftly. With an enhanced data platform, it will deliver a complete view at the entity level, encompassing customer, agent, partner, and policy data. These technologies allow for better analysis of trends, identification of opportunities, and design targeted products to enhance customer experiences.

In collaboration with its partner Lumiq.ai, Snowflake is implementing a modern data platform to generate near real-time reports for Management Information Systems (MIS) and convert actionable insights into business growth through enhanced dashboards and analytics.

Bajaj Allianz’s transition to Snowflake has augmented its data management approach by integrating data from diverse structured sources into a unified platform. This implementation will help create personalized insurance products, enhance fraud and anomaly detection, and optimize pricing in real-time across its businesses.

“We are glad to collaborate with Snowflake AI Data Cloud. Through this collaboration, Bajaj Allianz will unlock the future potential of AI-powered solutions and drive sustained innovation. By utilizing advanced technologies and systems, we aim to leverage near real-time analytics, gain deeper insights into our operations, enhance our customer engagement, and improve our risk management practices.” said Avinash Naik, Chief Information Officer, Bajaj Allianz General Insurance.

Snowflake makes enterprise AI easy, efficient, and trusted. Thousands of companies around the globe, including hundreds of the world’s largest, use Snowflake’s AI Data Cloud to share data, build applications, and power their business with AI. The era of enterprise AI is here. Learn more at snowflake.com (NYSE: SNOW).

Bajaj Allianz General Insurance stands as India’s premier private general insurance company. It is a collaborative effort between Bajaj Finserv Limited, India’s most diversified non-bank financial institution, and Allianz SE, the world’s leading insurer and largest asset manager. Bajaj Allianz General Insurance provides a wide range of general insurance products, including motor insurance, home insurance, and health insurance, along with distinctive insurance offerings like coverage for pet insurance, weddings, events, cybersecurity, and the film industry. The company commenced its operations in 2001 and has consistently expanded its reach to be in close proximity to its customers. Presently, it maintains a presence in nearly 1,500 towns and cities across India. Notably, Bajaj Allianz General Insurance holds the issuer rating of [ICRA]AAA from ICRA Limited, signifying the highest level of assurance regarding the punctual fulfilment of financial commitments.

LUMIQ is a leading Data & AI company that specializes in delivering transformative solutions for its customers across FSI sector. Leveraging our deep domain expertise, 11+ years of implementation expertise and accelerators, we enable our customers to harness true potential of their data.