Bajaj Allianz Life Insurance uses virtual platforms to continue business amid COVID-19

• Provides uninterrupted online services and assistance to customers
• Re-trains its 70k+ sales force on virtual sales and servicing
• Retains all its 10k+ employees in the time of crisis

Pune, 24 April 2020: In response to the unprecedented times, and the crisis that may further increase due to COVID-19, Bajaj Allianz Life, one of India’s leading private life insurer, has taken quick steps to align its sales and business processes to ‘the new normal’. The Company has been agile to adopt and leverage virtual platforms within its sales, servicing and business functions to ensure their commitment towards the customers’ life goals remain on track.

To further ensure that the Company’s employees continue to focus on the positive while COVID-19 causes disruption worldwide, it has ensured that it will retain all its 10k+ employees, making sure that the Company’s employees have the protection and support they need during these challenging times. It is also investing towards retraining them to be prepared for the new way of business, post the crisis. Training modules are designed to enable employees also manage their work and home life, while the lockdown pursues.

Commenting on the several initiatives, Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life, said, “These are unusual times, and as a responsible corporate citizen it is our primary goal to ensure our employees, as well as all our stakeholders, have our support. We are confident that with the focussed training modules, our employees will be better aligned to the new ways of work. Furthermore, with the digital access points provided to our customers, we are witnessing that they are continuing to be invested in their life goals journey with us. In these challenging times it is essential to come together and collectively fight the crisis, and prepare together for what lies ahead of us.”

To make things easier for its customers, employees and sales-force, Bajaj Allianz Life has taken the following measures:

Commitment towards customers:

• To meet the needs of policyholders, Bajaj Allianz Life has made available its digital touch points like WhatsApp, chatbot BOING, Life Assist mobile app & customer portal.
• Policyholders can access and manage their policies online to make renewal payments or for any other assistance during the lockdown through these digital touch points.
• The Company is continuously communicating to its policyholder to use the digital platforms as much as possible and assuring them to honor all COVID-related claims on priority.
• Further during the volatile markets, Bajaj Allianz Life conducted webinar, podcast and curated series of communications on investment advisory for its policyholders and employees to manage their financial portfolio.

Commitment towards Sales force and employees:

• The Company provided customized work-from-home kits for all the employees to equip them to safely work from their homes
• Retrained its 70k+ Insurance Consultants to use virtual tools for connecting with customers and servicing them digitally
• 24*7 helpline and contacts of emergency medical help for COVID related assistance
• To ensure the well-being of its workforce, partners, customers and public at large, the Company conducted several LIVE streaming fitness sessions by renowned experts on its social media pages. These include sessions on Yoga, Meditation and Wellness.

About Bajaj Allianz Life Insurance

Bajaj Allianz Life is one of the leading private life insurance companies in India. The Company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institution and Allianz SE, one of world’s leading asset manager and insurer.

Commencing its operations in 2001, Bajaj Allianz Life has in less than two decades expanded its presence across the country. It serves millions of customers through its 556 branches, 80,000+ agents (as on 31 March 2020), comprehensive set of trusted partners and via its online sales channel. The Company’s brand promise of Life Goals.Done. drives it to launch innovative insurance solutions, including the revolutionary RoMC (Return of Mortality Charges), a feature in some of its new-age ULIPs, and thereby becoming the first company to do so. Bajaj Allianz Life has constantly transformed to offer tech-enabled state-of-the-art services to enhance customer delight. The Company continues to engage with customers through several unique platforms, and has secured a place in the Guinness Book of World Records with the Bajaj Allianz Life Plankathon 2020.