Bajaj Allianz Gen. Insurance Unveils Prive

• Privé is an exclusive customer experience program crafted for a special segment of policyholders
• Privé provides access to elevated and unmatched customer service at every touchpoint
• To become a part of Privé, customers can opt for eligible products under Health, Motor, or Home, with a certain sum insured range, thereby fulfilling the requisite eligibility criteria

Pune, 30 April 2024: Bajaj Allianz General Insurance, one of the leading private general insurers in India, today announced the launch of Privé, an exclusive customer experience program offering access to elevated and unmatched customer service excellence. Traditionally, in India, the thrive to increase insurance penetration over the last few years has largely been focused on tapping the customer base across the tier 2/tier 3 locations and rural markets, predominantly covering middle, upper middle class, and rural customers.

Bajaj Allianz General Insurance, in addition to its strong focus on increasing insurance penetration across all the above-mentioned customer segments, will now also cater to a special segment of customers typically requiring insurance solutions with enhanced coverage limits.  Recognizing the multifaceted requirements and comprehensive protection that align with such discerning customers’ financial and lifestyle preferences, Privé goes beyond the traditional insurance offerings. By being part of Privé, the customers gain access to an array of exclusive and prioritized insurance services, ensuring their requirements are met with precision.

To become a part of Privé, the customers have the flexibility to select from a range of products across health, home, motor, personal accident, and cyber, insurance as per their specific needs. Insurance products currently include the My Health Care Plan, offering customizable health insurance coverage, with a minimum sum insured of INR 1 crore as the eligibility criteria; the Global Health Care offers coverage like overseas medical treatment, and planned and emergency treatments both international and domestic, and the customers can choose any of the sum insured options for eligibility.

In addition, a motor product along with V-Pay add-on cover will be offered. This add-on cover consolidates the benefits of an array of fragmented motor insurance add-ons under one offering, requiring a minimum Insured Declared Value (IDV) of INR 25 lakhs or more for a motor vehicle. The My Home Insurance All Risk Policy ensures comprehensive insurance coverage for both home structure and valuable contents in the home. The eligibility criteria here would be a minimum sum insured of INR 3 crores for structure, INR 30 lakhs for non-portable contents, and INR 6 lakhs for portable items. Moreover, in conjunction with the above products, customers can also opt for a higher range of sum insured for advanced products like the Global Personal Guard Policy that extends worldwide personal accident coverage with a range of additional add-ons, and the Cyber Care plan, to protect against losses resulting from cyber-attacks owing to the ever-evolving digital space.

Privé is committed to elevating the service experience through experts focused on expediting claims processing and assistance. Such customers would also have access to ‘Privé Connect’, a dedicated team available to swiftly address all insurance queries and requirements for catering to any service request or claims. In case of health claims, additional services like hassle-free discharge and pre-policy check-ups at home by professionals are also provided. Furthermore, the service is complemented by ‘Care Angels’, who are trained professionals offering personalized assistance and support throughout the hospitalization journey.

For the motor insurance add-on product V-Pay, the claim process is streamlined to provide rapid responses, including surveyor deployment on a priority basis. Non-motor insurance claims, such as home insurance claims, will be similarly handled efficiently, with a claim handler reaching out to the customers within turnaround times, which is amongst the best in the market today. Privé offers a seamless claim experience that will enhance the entire lifecycle of the insurance journey, setting a new standard in customer service excellence.

Privé, being a unique first-of-its-kind program, was launched in Pune. Mr. Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv Ltd., also graced the event. At the launch event, renowned Indian music composer duo Vishal Shekar enthralled the attendees with an electrifying musical performance. Fashion designer Rocky S also added glamour to the event by showcasing his unique collection.

A few select partners and employees also graced the ramp. The event also saw the launch of the Privé logo unveiled by Mr. Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv Ltd., Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, Rocky Star, Indian Fashion Designer, and Mr. Vikram Bhayana, Head – Marketing, Bajaj Allianz General Insurance.

Speaking on the launch, Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, “At our core, we’re dedicated to pioneering insurance solutions that cater to the diverse needs of every individual across our nation. With Privé, we’re reaffirming our commitment to continuously innovate and address the unique requirements of discerning individuals. We understand that their sophisticated asset portfolios, astute financial planning, and distinct lifestyles demand insurance offerings that transcend conventional norms. Privé stands out with its best-in-class products and services tailored to the discerning preferences of this exclusive clientele, accessible at their fingertips for unmatched convenience.

What truly distinguishes Privé is our unwavering dedication to service excellence at every touchpoint. Privé ensures an elevated and seamless service experience from dedicated teams to swift claims resolutions and much more. Our customers can expect unparalleled support and assistance throughout their insurance journey. Privé isn’t just another insurance program – it’s a commitment to delivering unmatched service and protection.