Bajaj Allianz Life Insurance Wins Insurer Innovation Award 2023 at the World's Digital Insurance Awards [Business Wire India]

Pune, July 8 -- Awarded for their industry-leading WhatsApp Conversational Platform which enables Intelligent Customer Engagement

In the last 3 years, 86% of Bajaj Allianz Life's active customer base has opted for WhatsApp servicing

12% of total service transaction volumes are handled by the WhatsApp Business Platform

2.4 lac customers interact with the BOT monthly to fulfill their policy requirements

Bajaj Allianz Life Insurance, one of theleading private life insurer in India today announced that it has won the Insurer Innovation Award 2023 for the APAC region at The World's Digital Insurance Awards. The award, hosted by TDI - The Digital Insurer, acknowledges Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly.

TDI with 50k+ members from 100+ countries, hosted the 8th edition of The World's Digital Insurance Awards to showcase some of the most innovative projects in the insurance industry.

Bajaj Allianz Life emerged as the regional finalist winner for Asia Pacific region, amongst a sterling list of Insurance majors like HSBC Life, AIA China, Cathay Life Insurance, MSIG, and Singlife. The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting. Along with Asia Pacific, the finalists from Europe, the Middle East, and Africa (EMEA), and the Americas, will be competing against each other on the 7th December 2023 and the global winner will be revealed.

To address the challenges of a large and segmented insurance market, Bajaj Allianz Life focused on providing an intuitive real-time customer service experience. The company developed an intuitive customer BOT on the WhatsApp Business Platform, empowering customers to self-serve and quickly resolve queries while also offering real-time human live agent support. The platform has accelerated customer transactions, enabling seamless processes and sharing information about new offerings and solutions. The BOT ecosystem is extended to its sales and distribution channels as well as employees.

The award serves as a testament to Bajaj Allianz Life Insurance's industry expertise, and unwavering dedication to providing industry-leading innovative insurance solutions to its customers.

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of India's leading and fastest-growing private life insurers. 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 institutions, and Allianz SE, one of the world's leading asset manager and insurer. The Company commenced its journey in 2001, and today delivers its promise of Life. Goals. DONE through innovative value-packed insurance products that are backed by a robust tech and digital ecosystem. Bajaj Allianz Life Insurance continues its journey of transformation through its products and tech-enabled state-of-the-art services to enhance customer delight.

Bajaj Allianz Life now serves over 2.82 crore individual customers and many more through its Group plans. The Company has a large distribution network of 512 branches, over 1,25,374 agents (as on 30 April 2023), acomprehensive set of trusted partners, and its proprietary sales channels (online and offline). Bajaj Allianz Life Insurance manages Assets Under Management to the tune of over Rs. 92,123 crores (as on 30 April 2023) with the Claims Settlement Ratio of 99.04%~ and a Solvency Ratio of 516%. Published by HT Digital Content Services with permission from Business Wire India. For any query with respect to this article or any other content requirement, please contact Editor at [email protected]