May 22, 2018 4

Bajaj Allianz Aims to Offer Instant Solutions via Digital Platform

Bajaj Allianz Life Insurance

The 21st century is rightly known as the Digital Age. With Internet being used by almost every person, online shopping has taken the world by the storm.

These days, online shopping is no longer limited to clothing items, groceries and electronic devices.

The idea of buying insurance online has been gaining favour increasingly these past few years.

Why Should Insurance be Bought Online?

Though most people know the importance of having an insurance policy, they keep putting it off not wanting to deal with the hassle involved.

Buying insurance online has the following benefits -

• Saves time by browsing and comparing policies within the comfort of one's environment.

• Get reviews of policies from other policy holders to be sure of the policy to be bought.

• Lower premium rates compared to online ones.

• No third party agent needs to be involved so that people can take their time to make an informed decision without the agent at their back.

• No more messy paperwork. Detailed online brochures and forms, facility to upload required documents online helps people to buy insurance without being buried in papers.

• Ask queries at any time of day or night via an online chat assistant.

• Enjoy additional perks of paying premiums, tracking policy status, updating policy within a few clicks.

What is Bajaj Allianz Company Life Insurance Limited? -

The company is a combined endeavour between the Bajaj Finserv Limited of Bajaj Group of India and Allianz SE financial company of Europe.

Bajaj Allianz Life Insurance Company Limited is popular for its efficient life insurance resolutions.

Keeping up with the computer age, the company has launched various digital platforms to offer instant life insurance resolutions for its customers.

Following are the digital platforms launched by the life insurance company -

Bajaj Allianz Life Insurance Company's Life Assist -

Life Assist is an online customer portal recently launched by Bajaj Allianz Life.

Life Assist is available as both web portal and as a mobile application for android and apple phones.

With this digital platform by Bajaj Allianz Life Insurance Company, potential customers can - Buy life insurance –

• The portal offers options for choosing between term plan(Bajaj Allianz Life etouch Online Term Plan) or investment plan(Bajaj Allianz Future Gain Plan).

• Customers simply have to enter their date of birth, gender, age and choose policy term between 10 to 40 years.

• The platform asks customers to specify whether they are smokers or non – smokers and to choose an amount for Sum Assured, minimum amount being Rs 50 lakhs.

• Customers can either buy policy directly or leave the details with the company so that an agent can contact them with further information.

Make Premium Payments -

With Bajaj Allianz Life Insurance Company's Life Assist, paying premium is a simple matter. Policy holders only have to -

• Enter their policy number.

• Specify the date of birth of the insured person.

• Enter email id and mobile number.

• After entering above details policy holders can simply select the 'Pay Premium' option to proceed to make the payment online.

Download Income Tax Certificate -

Life Assist allows its customers to get their income tax certificate in a few easy steps -

• Customers simply have to enter their policy number and period.

• Policy holders are required to answer any three questions from five to get the certificate.

• The IT certificate can either be downloaded or can be emailed to the customer.

Get Account Statement -

• This option is only applicable for Unit Linked Insurance Policies.

• Policy holders only have to enter policy number to receive the account statement through email.

Apart from these, Bajaj Allianz's Life Assist allows policy holders to -

• Track their application status.

• Track their claim.

• Analyse the fund performance.

• Calculate tax to plan their investments accordingly to reap maximum benefits.

Bajaj Allianz Life's BOING -

• Policy holders can get questions regarding their policies anytime.

• Then why let office hours or waiting for customer service executives on the phone deter them from getting answers immediately?

• For this reason, Bajaj Allianz Life Insurance Company has recently introduced BOING, an Artificial Intelligence powered chatbot to answer customer queries 24*7.

• This chatbot responds instantly to customer queries.

• Besides this, policy holders can also get information about their policy status (Health and Motor), get policy copy, register a motor claim, locate a company branch and nearest hospitals or motor workshops.

• BOING will soon be integrated with Amazon's Alexa, and customers will be able to interact with the chatbot via voice commands.

Apart from the above digital platforms by Bajaj Allianz Life Insurance Company, Bajaj Allianz General Insurance Company has launched the following instant solution applications -

Travel Ezee -

• This application utilizes Blockchain technology for travel insurance holders.

• In case of flight delays, policy holders can simply upload the details of their flight along with their account details and get reimbursed within minutes.

Motor on the Spot -

• This application allows policy holders to claim motor accident reimbursements up to Rs 20,000 within 20 minutes instead of five to seven days.

• For this, policy holders only have to upload photos of their damaged vehicle along with policy details on the application.