Priv is an exclusive customer experience program crafted for a special segment of policyholders
Priv provides access to elevated and unmatched customer service at every touchpoint
To become a part of Priv, customers can opt for eligible products under Health, Motor, or Home, with a certain sum insured range, thereby fulfilling the requisite eligibility criteria
Bajaj Allianz General Insurance, one of the leading private general insurers in India, today announced the launch of Priv, 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, Priv goes beyond the traditional insurance offerings. By being part of Priv, the customers gain access to an array of exclusive and prioritized insurance services, ensuring their requirements are met with precision.
Priv Launch
To become a part of Priv, 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.
Priv is committed to elevating the service experience through experts focused on expediting claims processing and assistance. Such customers would also have access to 'Priv 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. Priv offers a seamless claim experience that will enhance the entire lifecycle of the insurance journey, setting a new standard in customer service excellence.
Priv, 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 Priv 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, were dedicated to pioneering insurance solutions that cater to the diverse needs of every individual across our nation. With Prive, were reaffirming our commitment to continuously innovate andaddress 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. Priv 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 Priv is our unwavering dedication to service excellence at every touchpoint. Priv 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. Priv isn't just another insurance program - it's a commitment to delivering unmatched service and protection.
"We recognize that individuals of this strata expect nothing but the absolute best in products and services. With Priv, we aspire to be the go-to insurer, consistently surpassing customers expectations."
Priv represents another pioneering initiative by Bajaj Allianz General Insurance to create a segmented category for niche customers that addresses theirunique needs with a curated selection of personalized insurance offerings, empowering them to safeguard their lifestyle.
About Bajaj Allianz General Insurance
Bajaj Allianz General Insurance stands as Indias premier private general insurance company. It is a collaborative effort between Bajaj Finserv Limited, Indias most diversified non-bank financial institution, and Allianz SE, the worlds 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.
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