2010

Bajaj Allianz Life Insurance Company
Subject: Universal Banking.
Introduction –Products Offered – Channel Partners – Business Associates –IRDA Certificate –Conclusion – Recommendations.

Hania Usmani
SY.B.B.I (Roll No: 32)
2/26/2010

3 wheeler manufacturers in the world. Bajaj Allianz life insurance Corporation of India was incorporated on 12th march 2001. It is the largest private player in insurance industry in India with a market share of around 34 % amongst the private companies and second to LIC. Their team is young. one of the world's largest Life Insurance companies and Bajaj Auto. Allianz AG is a leading insurance conglomerate globally and one of the largest asset managers in the world.The Company received the Insurance Regulatory And Development Authority (IRDA) Certificate of Registration No.116 on 3rd August 2001 to conduct life insurance business in India. energetic and motivated with a passion to excel. supported by the best technology. Bajaj Auto is one of the most trusted names in Indian auto for over 55 years. In FY 2006-07 Bajaj Allianz Life Insurance issued over 2 million policies (highest in Private Sector) and collected over Rs 5300 crores in premiums. 2 .&. 500 crore with Bajaj Auto limited and Allianz AG of Germany holding 74 % and 26 % stake respectively. Bajaj Allianz Life Insurance is the leading private sector life insurer and has offices in over 900 towns across the country. managing assets worth worldwide with 115 years of financial experience in over 70 countries. Speed and growth are the mantras of their success. At Bajaj Allianz business philosophy is to ensure excellent insurance and investment solutions by offering customized products. Bajaj group is the largest manufacturer of two-wheelers and three-wheelers in India and one of the largest in the world. Bajaj Allianz Shareholder Capital Base stands at Rs.Bajaj Allianz Life Insurance Company Bajaj Allianz Life Insurance Company Limited is a joint venture between Allianz AG. one of the biggest 2.

it has presence in more than 550 locations with over 60.000 Insurance Consultants. From Surat to Siliguri and Jammu to Thiruvananthapuram. Company’s Achievements Bajaj Allianz has received "iAAA rating. decentralised decision making Long-term commitment to market and clients 3 . Why Bajaj Allianz? The Bajaj Allianz Difference     Business strategy aligned to clients' needs and trends in Indian and global economy / industry Internationally experienced core team. Vision of the company    To be the first choice insurer for customers To be the preferred employer for staff in the insurance industry To be the number one insurer for creating shareholder value Mission of the company As a responsible. from ICRA Limited.Bajaj Allianz today has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. the company strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money. majority with local background Fast. This rating indicates highest claims paying ability and a fundamentally strong position. an associate of Moody's Investors Services. It is one of India’s leading and fastest growing insurance companies. customer focused market leader. all the offices are interconnected with the Head Office at Pune. for Claims Paying Ability. Currently.

its guiding principles are customer service and client satisfaction.Trust At Bajaj Allianz. Bajaj Fiserv(demerged with Bajaj auto) Limited. The company has a friendly and open approach.so that they can cater to all varied needs of customers. 4 . All efforts are directed towards understanding the culture. They focused towards providing customer a hassle free and speedy claims processing. they realise that customer seek an insurer whom he can trust. is a part of Bajaj group . social environment and individual insurance requirements . Together they committed to provide customers with time tested and trusted financial solutions that provide all the security customer need for its investments.which is a trusted name for over 55 years in the Indian market and Allianz SE has over 110 years of global experience in financial services. Underwriting Philosophy The underwriting philosophy focuses on:     Understanding the customer's needs Underwriting what we understand Meeting the customer's requirements Ensuring optimal coverage at lowest cost Claims Philosophy The Bajaj Allianz team follows a service that aims at taking the anxiety out of claims processing. Company’s claims philosophy is to:    Be flexible and settle fast Ensure no claim file to be seen by more than 3 people Check processes regularly against the global Allianz OPEX (Operational Excellence) methodology sold over 1 million since inception. Customer Orientation At Bajaj Allianz.

ULIPs offer a better return than the traditional endowment plans and offer a great deal of flexibility along with great returns making them the finest product offering.Products Offered By Bajaj Allianz Life Insurance. debt and cash markets by the way of allocating units. It enables every participant to create a solid financial protection and savings plan for himself and his family. which like any other mutual fund have a NAV and the customer is free to switch between one fund class to another depending on the risk factor he wishes to be in. In this way.  Regular Premium  New Family Gain II The Bajaj Allianz New Family Gain II comes with a host of features to allow you to have the best of all worlds . as a participant in the Bajaj Allianz New Family Gain II 5 .Protection and Investments. We at Bajaj Allianz Life Insurance have developed a number of ULIP products which range from single premium to a regular premium option along with investment funds ranging from index funds to mid-cap funds and debt market linked funds. POPULAR PRODUCTS UNIT LINK TERM PLAN PENSION PLAN CHIDREN'S POLICY SHIELD PLUS MONEY BACK 1) UNIT LINKED Market linked insurance plans invest the premium in to the equity.

it ensures that your investment income gets accelerated and you reap benefits from a plan that delivers prosperity and happiness to you.SIP II helps you plan for your future savings. Loyalty Addition from the 11th year onwards.  New Unit Gain II Bajaj Allianz Life Insurance presents 'Bajaj Allianz New Unit Gain II. an investment plan that provides the best returns possible for every rupee you invest. Option of 7 additional riders  Century Plus III Century plus III offers you a unique combination of protection and prospect of attractive returns. 6 . Choice between Investor Selectable Portfolio Strategy and Wheel of Life Portfolio Strategy. High Allocation Rate. The plan is structured to provide a secure life cover and extraordinary benefits aligned with our commitment to give you 'the ultimate investment plan.  Smart Investment Plan II Bajaj Allianz Smart Investment Plan II (SIP II) gives you a unique combination of protection and savings. Key Benefits: 1. Key Benefits: 1.  Unit Gain Protection Plus II With Bajaj Allianz Unit Gain Protection Plus II we have formulated a unique combination of protection and prospects of attractive returns with investment in various mixes of assets to make a perfect plan to last you a lifetime prosperity and happiness. you can secure your well-being and accumulate savings towards financial independence and a comfortable retirement. an investment plan that provides the best returns possible for every rupee you invest. With 100% & more allocation after the first year.  Family Assure II Bajaj Allianz Life Insurance presents 'Bajaj Allianz Family Assure II. 2.Plan. 3.

3.  Single Premium Unit Linked Single Premium Plans require the premium to be paid only once. 4. Thus the product offers you the opportunity to get upside benefit of units price with complete downside protection from the fall in the equity market. providing you with an opportunity to have a direct stake in the performance of the financial markets. You have the flexibility to pay your premiums up to 7 years.2. 7 . You also benefit from attractive tax advantages and can protect your loved ones against unfortunate events. You can choose the investment funds you want to invest your money. Unlimited Top-up during the policy tenure. Wealth Gain Bajaj Allianz Wealth Gain offers the unique option of combining the protection of life insurance with the attractive prospects of investing in securities. Additional Benefit riders for extra protection.  Max Gain Bajaj Allianz Max Gain offers you the guarantee to encash your units at maturity at the highest unit price achieved by the fund over the 10 years term of your policy. Flexibility of monthly payment.

Regular Premium Payment & Single Premium Payment. safeguard one’s family from the financial implications of unfortunate circumstances that one cannot foresee.    It is an economical way to protect the family from the burden of repayment of the loan in case of death of the loanee.  Single premium payment option available. The Plan offers you the convenience of choosing between two premium payment options . An economic way of providing life cover.  Protector Make sure your family home remains with your family for life.  The only pure term plan in the market to provide Hospital Cash Benefit. this plan also ensures the return of all premiums at the time of maturity.  Term Care Term Assurance plan with return of premium. The loan protector plan from Bajaj Allianz Life Insurance is a mortgage reducing term assurance plan. Dual benefit .the option to cover the co-applicant of the loan under this plan. Joint Life availability . These pure risk plans cover your life at a nominal cost and you may want to take this plan to cover your outstanding debts like a mortgage. 8 .Life cover + Return of premiums paid on survival at the end of the term.   A term insurance plan with a difference.2) Term Plans The sole objective of Term plans is to serve the protection needs of the customers and by doing so. a home loan etc. These plans are pure risk cover plans with or without maturity benefit. which at low premiums helps you to secure your family against home loan.

Accidental Death Benefit and Accidental Permanent Total/Partial Disability Benefit. Critical Illness Benefit and Hospital Cash Benefit. 9 .     Life insurance covers at the lowest possible cost. Additional Rider Benefits with regular premium plan. New Risk Care Term Assurance plan with Regular/Single Premium payment options to secure your life.

Employers do not promise a lifetime pension and everyone does not have a government job. We at Bajaj Allianz Life Insurance will make sure that you retire you have all the means to enjoy it. Our flexible retirement plans. We at Bajaj Allianz Life Insurance offer Retirement Plans which will make sure that we are there to support you in every stage of your life and your savings today become your wealth and support for your future years to come.  10 . Your saving today becomes your wealth and support to help secure your future.  Retirement We at Bajaj Allianz Life Insurance offer Retirement Plans which will make sure that we are there to support you in every stage of your life and your savings today become your wealth and support for your future years to come. we intend to secure your future. help you maintain your lifestyle even after you retire. help you maintain your lifestyle and create a monthly income that will last you a lifetime.  Future Income Generator .Retirement plans we at Bajaj Allianz Life Insurance.3) Pension Plans  Annuity Immediate annuity Plans from Bajaj Allianz Life Insurance. Retirement and Pension plans suit various needs   An alternative to super-annuation’s and provident fund. for Life. Smart saving: When we ask you to save a regular amount..  Pension Guarantee A Plan that ensures regular Income after Retirement..

so you don’t have to worry about income after you retires. Open market option to purchase an immediate annuity from Bajaj c. Our Future Income Generator . they become financially independent. b. Allianz or any other life insurer as recognized by IRDA. An option to avail up to 1/3rd of the Fund Value as tax-free lump sum. Financial independence from work. Specialized retirement solutions for housewives. smart savings and peace of mind along with a corpus. Wealth creation. 11 . which secures your life. post retirement is what our Future Income Generator Retirement plans are all about.Retirement plans offer flexibility like never before  a. so that.

12 . as it offers a guaranteed Sum Assured and continued pay premium on your behalf.4) Children Plans  Child Gain Funds for critical stages in your Childs life like  Graduation  Post Graduation  Marriage  Start a business  Young Care II Bajaj Allianz Young Care II offers you a unique way to reassure yourself that you have taken care of the ones you cherish. in case of your unfortunate death. This investment plan is a Gift of a lifetime to your loved one.

So planning for a target amount is made easy now. 13 .5) Shield plus Bajaj Allianz Shield Plus.1 or 5 times of the Single Premium 3. 2. Shield Plus Fund I offers you guaranteed minimum unit price at maturity 4. a single premium fixed-term unit linked plan that gives you choice of investment options to achieve your desired objective at maturity. Maximum 100% allocation of Single Premium paid. Key Benefits: 1. Single Premium plan with fixed -term of 10 years. Sum Assured can be chosen to be equal to 1.

Quadruple life cover. Critical Illness Benefit and Hospital Cash Benefit. Additional Benefits:   Accidental Death Benefit and Disability Benefit.  Cash Gain Money back plan which guarantees 125% payout + bonuses. all future premiums are waived and 1% of the sum assured is paid monthly.  14 .6) Money Back Money back plans are Traditional Insurance plans that provide the investor with returns at regular stages of life. Family Income Benefit: In case of death or accidental total permanent disability of insured. 5 easy payouts which give up to 125% + bonuses.

care@in. Kalavary Road. India Syndicate Bank Contact Number : 020 4026 742 E-mail Address:insurancediv@syndicatebank.Channel Partners of Bajaj Allianz Standard Chartered Bank Contact Number : 022 2492 8888 E-mail Address:customer.syndicatebank.com Placement Sales and Services Ltd.2385922 Tele Fax . Contact Number : 0487-2388666.com COSMOS Co-op BANK Ltd.com Address: Regency Centre. Thrissur –4 Kerala.com 15 .in www. Contact Number : 020 2488051 E-mail Address : info@cosmosbank.net www.cosmosbank.2388666 E-mail Address: placementss@rediffmail. West Fort.standardchartered.

Business Associates 16 .

IRDA Certificate: 17 .

It has more than 1. and child and pension policies. I will like to conclude that Bajaj Allianz Life Insurance Company is not a Universal Bank.  Bajaj Allianz Life Insurance Company only provides insurance services. 18 .200 branches across country and deals in primarily unit linked. one of India’s most respected names. money back. health. It doesn’t provide any banking services to the customers and as per Universal Banking Definition “Universal Banking is a mixture of banking services. traditional. Investment services and Insurance activities”.  Bajaj Allianz is one of the fastest growing private Life Insurance Company in India. the world's leading insurer and Bajaj Auto.CONCLUSION  Bajaj Allianz life Insurance Company Limited is a lien between Allianz AG.

syndicate Bank. 19 .Recommendations’ Bajaj Allianz Life Insurance is one of India’s leading life insurance companies with more then 7. They can expand its business and should also look forward to provide banking services. Among all the existing life insurance Companies in India Bajaj Allianz Product have an edge. Standard Charted Bank it can plan out some schemes with the banks that are beneficiary for the customers.  As the company have a good name and customers have faith in the company.5 million customers. But according to my observation the company can look forward to following suggestions: Company can launch a investment plan specially designed for students in which they can invest small amount (eg-:500 to 1000)  Since the company has a tie up with Bajaj Auto.