Sam Ghosh

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					Corporate Newsletter of Bajaj Allianz General Insurance Co. Ltd.                                          Vol - 1, Issue - 3     May - June 2003

                                                                                                    This is also a time of change,
                                                                                                    Mr. N. Rangachary, Chairman, IRDA, retired
                                                                                                    on 9th June 2003 and his successor is
                                                                                                    Mr. C. S. Rao, who was the Revenue Secretary.
                                                                                                    During Mr. Rangachary's tenure the
                                                                                                    insurance market was opened swiftly and
                                                                                                    with no complication, licensing was
                                                                                                    transparent and the Regulators' office was
                                                                                                    customer friendly. We thank Mr. Rangachary
                                                                                                    for all his help and suggestions to our
                                                                                                    company and look forward to Mr. C. S. Rao,
                                                                                                    the new Chairman. Further, Mr. R. C. Sharma,
                                                                                                    the member of General Insurance also retires
                                                                                                    in June, we thank him for all his help and
                                                                                                    suggestions to our company.

                                                                                                    In the last few months the IRDA has started a
                                                                                                    number of new initiatives, these include Plans
                                                                                                    for de-tariffing of Motor - Own Damage,
                                                                                                    removal of 5% discount for corporate clients,
                                                                                                    formations of two institutes for Motor Safety
Dear Stakeholders,
                                                                                                    & Data collection. We have to gear up to all
Bajaj Allianz had its Board Meeting on 7th May   To overcome this each office is recruiting one     these changes. Further a review of the
2003 and the company results for the             person who will be responsible for chasing its     operations of the PSU insurers is being
financial year 2002/2003 was approved. We        retail renewals. The offices are in the process    conducted by the Finance Ministry.
are pleased to inform all that the company       of increasing the marketing staff. By end of
                                                                                                    All this means that the General Insurance
closed the financial year with a gross           June, we anticipate having the entire team in
                                                                                                    Industry in India will continue to go through
premium of Rs.300 crores and profit before       place in all offices and Agents recruitment will
                                                                                                    change in the next few years and we have to
tax of Rs.17 crore and a profit after tax of     continue in an aggressive manner.
                                                                                                    gear up and manage the expected changes.
Rs.9.6 crores. This results is due to your
                                                 In line with its business plan the company is      As a company we have to focus on delivering
support and efforts and our congratulations
                                                 focusing on areas like Marine Hull & Aviation,     value to all our stakeholders and then only we
goes to all. The company issued over 8 lakh
                                                 to this end Mr. Deepak Sood has joined the         will have a long term future.
policies settled over 70,000 claims which
                                                 Head Office team to look at these two lines as
shows the company has the infrastructure to                                                         I thank you all for your efforts and look
                                                 well as overall Marketing Initiatives.
handle large volumes of business.                                                                   forward to communicating with you in the
                                                 The company inaugurated its Srinagar branch        near future in the meantime, please write to
The first April results are out and, premium
                                                 on 10th May. The company has taken a third         me on any issue you feel we should address.
achieved by the company was in line with the
                                                 office in Mumbai in Nariman Point besides
budgets, however our hit rate on corporate
                                                 the offices in Prabhadevi and Vashi. Bajaj
business has to increase. The company is in
                                                 Allianz held a Broker & Corporate Agents           Sam Ghosh
the process of strengthening the marketing
                                                 Meet on 29th May and plans to conduct similar      CEO
team in each of the 38 offices we have. One
                                                 meets in all major cities in the next two
area of weakness we have noticed is that the
company as a whole is not chasing its retail
renewals in a systematic manner.
                                                                                                                            Bajaj Allianz Newstrack

1st Anniversary of Maurti Udyog tie-ups

                                       One year of mutually beneficial relationship                    same. Insurance is a vital part of car
                                       It has been one year of mutually beneficial                     ownership. Motor Insurance being a Tariff
                                       relationship of Bajaj Allianz and Maruti who had                controlled product in India, the quality of
                                       tied the knot on 10th May 2002, On this occasion,               service is the key differentiator. Bajaj Allianz
                                       Mr. R. S. Kalsi, General Manager, New Business,                 has brought the world class systems and
                                       Maruti Udyog Limited, said, "Maruti being the                   robust processes which facilitate in creating
                                       leader in the car industry, we have to                          the customer delight. By joining hands with
        Mr. R. S. Kalsi, GM                                                                            Bajaj Allianz under Maruti Insurance, we
                                       continuously raise the bar for ourselves to serve
        New Business,                  customer better. This involves identifying the                  have been able to set new benchmarks in the
        Maurti Udyog Ltd.              mobility related needs of the customers on an                   Motor Insurance area in providing the world
                                       ongoing basis and provide solutions for the                     class experience to the customer.'’

Ahmedabad Office

In continuing with our series of Firsts, in this issue we would be featuring the first branch office to
be upgraded to Regional Office. The first office to receive such upgradation is Ahmedabad office.

Ahmedabad also known as the                              the company logo, his name and
Manchester of India, is the commercial                   mobile number. So it was literally one-
capital of Gujarat. The office was set up                man operation.
in not so congenial circumstances with                   The office with its aggressive and
one disaster following another. First the                spirited personnel has bagged some of
earthquake that shook the nation and                     the prestigious projects like Arvind
then the riots that shook the business                   Mills, Suzlon, Ahmedabad Electricity
confidence in the state. In such a                       Co. Ltd, Reliance Industries Ltd,
grueling circumstances, the office,                      Gujarat Heavy Chemicals Ltd, Zydus                     of set up. The Ahmedabad office had
headed by Mr. Hiren Vora and his team                    Cadila Healthcare Ltd, Cadila                          achieved their annual target in the first 6
has risen like a phoenix from the ashes.                 P h a r m a c e u t i c a l s L t d , To r r e n t     months itself and the target was revised
The Ahmedabad office had humble                          Pharmaceuticals Ltd, Maan                              and doubled, which was also achieved.
beginnings, and Mr. Hiren Vora, today                    Pharmaceuticals Ltd, CMC India Ltd,                    The office with mix of corporate & retail
leading a team of 12 personnel, still                    JMC Projects Ltd, Bank of Baroda,                      business is all set to soar even higher. We
remembers that he carried the                            Electrotherm India Ltd and many                        wish the entire Ahmedabad team all
operations with his mobile and his car                   others etc.. These prized possessions                  success.
as the office. His business card had just                have been acquired in its nascent days

Srinagar Branch Opened

                                                         Our second office in the state of Jammu                 Corporate Agency License to the J & K
                                                         & Kashmir, was opened on May10,2003.                    Bank officials. They also met formally
                                                         The office was inaugurated by                           at the J & K Bank Chairman's office
                                                         Mr. M. Y. Khan, Chairman of J & K Bank,                 and held wide ranging discussions
                                                         Mr. Don Nguyen, General Manager,                        about various issues. What began as a
                                                         A l l i a n z A s i a Pa c i f i c I n s u r a n c e    one man operation is today
Mr. Don Nguyen, GM. Allianz Asia Pacific
                                                         Management Pvt. Ltd. and also                           generating over Rs.1 lakh premium
seen along with Mr. M. Y. Khan, Chairman                 Director, Bajaj Allianz General                         per day.
J&K Bank & Mr. Sam Ghosh                                 Insurance Company handed over the

                                                                                                                            May - June 2003


Bajaj Allianz while retaining its position as the leading General Insurance company in the private sector has also managed to
make profits in the first full year of operations. A glimpse of the performance in figures.

                                            2.5.2001* - 31.3.2002 (11 months)                  1.4.2002 - 31.3.2003
       Gross Written premium                            Rs.142 crore                               Rs.300 crore
       Growth                                                                                          111 %
       Net Profit before Tax                           (Rs.13.2 crore)                             Rs.17.1 crore
       Net Profit after Tax                             (Rs.9.6 crore)                             Rs.9.6 crore
       No. of policies sold                            Over 3,00,000                              Over 8,00,000
*Day of receiving IRDA registration

The total premium income garnered grew to approx. Rs.300 crore, Profit Before Tax of Rs.17 crore and a Profit After Tax of Rs.9.6
crore. The Gross Written Premium witnessed a jump of over 100% from Rs.142 crore in 2001-02 to Rs.300 crore in 2002-03. 70,000
claims were settled which is worth Rs.75 crore and over 8,00,000 policies were sold for the year.


l Retention ration is 63%, highest                 l Assets under management is                       l Office network in 34 cities, largest
  amongst private companies.                         Rs. 223cr.                                         network of offices in private sector.
l Combined ratio of 102% in first full             l Total claim paid till March 31, 2003             l Nearly 900 people access our IT
  year of operations.                                exceed Rs. 100 cr since inception.                 system at any point of time which
                                                                                                        included over staff, intermediaries,
l Accumulated break even achieved as               l Total number of policies issued in this
                                                                                                        Motor dealers, Travel agents.
  of March 31, 2003                                  year is over 8,00,000 equals to that of
                                                     all other private insurance companies
                                                     put together.

CEO speak at Munich

Our CEO, was invited to the Allianz
Headquarters in Munich to give a
presentation on "Setting up a
Greenfield Venture" to a gathering of
Allianz CEO’s worldwide. Sam was the
only CEO to make the presentation.

In his presentation, Sam presented the
success story of our company in his
own inimitable style and had the Allianz
officials in rapt attention. The
presentation focussed on Bajaj Allianz
strategy of integrating strategy, systems
& people to emerge as the No.1 private
general insurer in India.

Sam said that “ Being the only CEO who
was asked to make a presentation was a
big privilege. I was representing all my
colleagues who have put in tremendous
efforts in the last two years.”                                                                                                            03
                                                                                                            Bajaj Allianz Newstrack

Heads of Office Meet
The 2nd Heads of Office Meet was held at Mumbai. The meet was to     During this meet, Bajaj
discuss, exchange ideas and plan the strategy for the coming year.   Allianz instituted an
                                                                     award for the performing
                                                                     offices. The offices which
                                                                     received the awards were
                                                                     "Best Back Office
                                                                     Operation - Jaipur Office",
                                                                     " Most Profitable Branch
                                                                     Office - Kanpur Office",
                                                                     "Most Profitable Regional Office - Mumbai Region", " Branch Office
                                                                     with highest Productivity - Ahemdabad Brach", "Regional Office with
                                                                     highest Productivity - Delhi Office".

Surveyors Meet
Pune Regional Office conducted its first Surveyors Meet where surveyors from all over
Maharashtra attended the meet. A presentation was made on the Claims Automation
Module where

  ! The entire process flow of the module was run through
  ! A demo of the module with various screens explaining the
    features of Data being captured, its relevance and further usage
  ! A test case was run to explain the features better
  ! The various features and reports generation were also displayed

Agents Meet
Vadodara office conducted the First Agents Meet. Top performing agents were given awards and certificates

               Pradeep Jain of
    Yash consultancy services
  receiving the CEO’s Trophy
for the Best performer under                                                                                                  TopPerforming Agents
 Vadodara RO, he completed                                                                                                    who did above
     Rs. 1.22 crores premium                                                                                                  Rs. 10 lakhs business

Brokers Meet
Mumbai Office held its 1st Brokers Meet. The turnout was successfull. Almost all brokers attended the meet. An overview of the
company was given to them and our competency to handle large business was explicitly demonstrated to them

Trade Association Meet
Goa office held a Barge Owner ’s
Association meet at Hotel La Paz, Goa.
Mr. Deepak Sood, Head Business
Development introduced the details of
Marine Hull (Inland vessels) Insurance
policy and how Bajaj allianz can be the
partners in insurance                                                                                       Members of Goa Barge
                                                                                                            Owner’s Association and representatives
04                                                                                                          of the Corporate Houses at the seminar.
                                                                                                                           May - June 2003

Claims settlement

We starting a new series where we will be focusing on a speedy claim
settlement and how Bajaj Allianz help their clients to get back into
business at the shortest possible time
Client                                                                        Chemfab alkalis limited
                                                                                                        HOLDINGS PTE.LTD


Chemfab Alkalies Limited, manufacturers of Caustic Soda,
liquid chlorine & Hydrogen has their manufacturing plant at
Pondicherry. Chennai Regional Office services the client.

The cover was Industrial All Risk (IAR) with sum insured of
Rs. 102.73 crore for material damage and Rs. 25 crore for
Business Interruption.

What happened?
There was an explosion in the Cell house of Electrolysis House
due to which there was a material damage and plant
production has to be stopped. The key material - membranes
had to be imported.

Role of Bajaj Allianz
On receipt of the intimation of the accident on 16.10.02,
immediately a surveyor from M/s Mehta & Padamsey
Surveyors Pvt. Ltd. was rushed to the site. The basic
documents to support the claim were given on 18.11.02 and
the Surveyors submitted their preliminary report on 19.11.02.

Bajaj Allianz team had analyzed the incident and liability was
established under the policy. An On-account claim amount of
Rs.50 lakh was paid on 23.11.02. Within 4 days of the report.
Meanwhile we smoothly had drawn up a proper flow chart and             repair the damaged cell and also advised some re-engineering
used alternate resources such as using spare membranes to              at the plant and ensured that the shutdown of the plant was
                                                                       limited to the minimum. As a result loss due to business
                                                                       interruption was reduced to substutially. Our team also
                                                                       analyzed the cause of the incident and suggested preventive
                                                                       measures and the Insured has incorporated the same in their
                                                                       manufacturing process before the startup following the above

                                                                       Meanwhile the client sought a further on A/c payment for
                                                                       facilitating the import and the 2nd installment of Rs. 50 lakh
                                                                       was paid in the intervening period on 14.3.03 The final bills
                                                                       were given to the Bajaj allianz on 25.3.03 and the balance
                                                                       payment of more than Rs.150 lakhs was paid on 28.3.03.

                                                                       Lessons learnt
                                                                       It was the joint effort of the client, the insurer & surveyor,
                                                                       which reduced the period of Business Interruption following
                                                                       the major breakdown in a plant.

                                                                       The grace and speed with which Bajaj Allianz handled the
                                                                       claim was well appreciated by the client.

                                                                                                              Bajaj Allianz Newstrack

Our Customer Speaks

 ARMOUR Consultants Pvt Ltd (ACPL), the Chennai-based Risk Management Insurance
 consultancy services company, a well known name in Financial Services, is a part of the
 Chennai-based Shriram group of companies, having a client base of over 30 corporates spread
 across the country. Armour Consultants, has an equity participation of around 40% by the
 Shriram group.                                                                                            Mr. R.Thyagrajan,

Armour     was      among   the   first 12           finance, and also in to stock                     premium income. But then the
entities in the country that was recently            broking and depository services. As               industry will have to make use of
granted licences by the Insurance                    a group we want to provide a whole                these new concepts and have to
                                                     range of financial services to our                develop brokers and agents. This is
Regulatory and Development Authority
                                                     customers. So it was logical to                   necessary to create a large number
(IRDA) to function as insurance                      extend our services to include                    of competent intermediaries for
brokers. The company plans to expand                 insurance and risk management.                    developing insurance awareness.
its insurance operations to Thailand,                                                                  To wait for brokers, agents to be on
Malaysia, China, the Philippines, Nepal         Q. What is your background in insurance?               their own will not make this
and Sri Lanka.                                  A. I have an insurance background                      happen. Insurance companies will
                                                   having worked with insurance                        have to devote time, managerial
                                                   company, New India Assurance in                     attention, money, and resources to
To understand more about the                                                                           develop these intermediaries. At
                                                   various capacities till 1975. I also
company, its values, systems and                   had a brief stint with Vysya Bank as                present they are just observing the
reasons for their success in the                   Development Officer as my                           scenario rather than influencing
industry, NEWSTRACK spoke to their                 previous boss invited me to join the                the scenario. There would be no
Managing Director, Mr. R. Thyagarajan.             bank. Later an offer came from                      conflict of interests as both are
                                                   J B Boda & Company, an insurance                    developing the insurance market.
                                                   consulting company to set up its
Q. Kindly give us a background of Armour           office in Chennai. Since I was more            Q. What has been your experience with
     Consultants?                                  or less jobless and with no                         Bajaj Allianz with respect to response
A.   We started Armour Consultants as              intention to be in Banking, I took                  time, claims settlement, systems etc.. as
     a division to advise corporates on            this offer. After that I got involved               a company?
     risk management and insurance.                with the Shriram group and started             A.   I think Bajaj Allianz has been
     This was even before broking                  Armour Consultants.                                 extremely good. I would say in
     regulations, applications and rules                                                               respect to response time and
     had come in to place. For the last         Q. With entry of big brokers like yours, what          flexibility in dealing and time taken
     one and half years we were                      is the future of agents or intermediaries?        to look at the problems faced by
     functioning as insurance                   A.   I think the future of growth of                   the intermediaries is extremely
     consultants to corporates.                      Indian insurance industry has to be               good. Bajaj Allianz is certainly one
                                                     through intermediaries. At the                    of the best among the new general
Q. How did you think of getting into                 same time its simply said than                    insurance companies.
     insurance field?                                done. It is in the hands of the new
A.   We are basically financial services             insurance companies. Brokers and             Q. What is the difference between Bajaj
     company being a part of the                     agents are after all concepts and by              Allianz and other general insurance
     Shriram group. The group is                     themselves they are not going to                  companies?
     engaged in financing of trucks,                 create insurance awareness nor               A. I would not like to compare the new
     cars, consumer durables, housing                they are going to create new

                                                                                                             May - June 2003

     general insurance companies with               like to offer our services and work     customers away. If an insurance
     the well-settled Public Sector                 with Bajaj Allianz to identify good     company has to make their
     Insurance companies. Among the                 sur veyors and develop and              products popular and attractive
     new insurance companies,                       improve the quality of surveyors.       then there should be a de-tariffing.
     certainly Bajaj Allianz is the best. In                                                But I would say within the tariff
     areas like issuance of policies,               There is a lot of expectations          products also there is also a lot of
     settlement of claims, your policy of           from the new insurance companies        service that insurance companies
     decentralizing is working very well.           and I sincerely hope that the new       can and have to provide. Look at
     We have done a lot of business in              insurance companies should go           the intricacy in valuation of plant
     the retail segment and I find the              ahead in developing skills of           and machinery, building, stock and
     response time is good. I am also               people in the industry to make          other assets. There are very few in
     asking my people to find out the               insurance services attractive to the    the industry that can come up with
     average number of days to settle               customers which alone will help         right kind of advice. This has
     claims by the insurance company                increase in generating new              nothing to do with the tariff
     as a yardstick to measure the                  premium income. In a competitive        framework. The tariff is just a
     performance of the company and                 environment we expect that there        cost of the insurance product, but
     reward them accordingly.                       should be new developments in           I feel that a corporate is not
                                                    terms of product creation and           concerned with the insurance cost
Q.    What are your views on the current            service creation.                       per se as he has lot of other
     scenario in the insurance industry?                                                    priorities to save costs. So costs
A.   The insurance industry has to             Q. What are your views on the tariff         or tariff are not so important for the
     allocate resources like managerial             regime?                                 corporates.
     time and money to develop skills in       A.   Tariff or costs is only for ensuring
     insurance selling, developing new              fairness to the consumers. So to        But on the whole I feel tariffing is to
     brokers, create a pool of competent            ensure fairness, rigidity, which very   ensure fairness to the consumers
     surveyors with whom the industry               often brings in unfairness, should      so that he should have a feeling
     can depend and trust and which                 go. In the current scenario there       that he is being treated in a fair
     will cut the time in settlement of             are lot of covers like Consequential    manner.
     claims. The very efficiency of the             Loss Insurance, the way that the
     insurance industry would depend                premium rating itself is rigid and
     on the quality of surveyors. I would           unattractive that it keeps the

        Mr. Vagmi of Bajaj Allianz, Chennai received the
        Best Student at the Professional Practice (PP)
        Programme at the NIIT Mind Champion
        Function organised at Chennai by NIIT. He was
        recognised as one of the students for excellent
        performance during PP Tenure. He is seen with
        Grand Master Vishwanathan Anand signing the

                                                                                                      Bajaj Allianz Newstrack

Allianz Group gets a new CEO

                                               We reproduce below some excerpts and        On Asian operations
                                               quotes of his Interview published in the    He went to Singapore with the task of
                                               Allianz International Journal.              setting up business in Asia for Allianz.
                                                                                           His sales experience in Hamburg came
                                               On his new assignment as CEO                back to him: new customers and new
                                               “I always have a tremendous respect for     living rooms, this time, with a very
                                               the task at hand,”and “I've always          different culture, language and
                                               respected the fact that a new job could
                                                                                           mentality. The Asian market was
                                               be beyond my capabilities,” he says.
                                                                                           booming, companies were nearly all
                                               And that's how it should be. “It makes
                                                                                           family-run and anyone wanting to get a
                                               you think really hard about what you're
                                               letting yourself in for, so that you        foothold had to prove himself as a
                                               approach things with your eyes wide         trustworthy partner for these Asian
                   Mr. Michael Diekmann, CEO   open.”                                      families.

                                               In the course of his Allianz career,        Constant changes in his career path
Mr. Michael Diekmann, aged 48 has
                                               Mr. Diekmann has been exposed to all        have certainly helped him to develop
taken over as CEO of the Allianz Group
from Dr. Henning Schulte Noelle. At his        the key business areas, insurance as        good antennae, to learn to assess
age, he may probably the youngest CEO          well as asset management and                people and new situations more
that Allianz ever had. He knows Allianz        banking.                                    quickly. “But what is hugely important,
from many sides: the German market,                                                        apart from being able to adapt to
the sales organization, Asia, Central          On Allianz Employees                        different situations,” he says, “is that
and Eastern Europe, America and the            “Allianz has such a wealth of               you remain genuine and that you can
globe-spanning network of managers.            resources,” he says. “The potential and     let yourself be judged by that.”
                                               energy that come from people wanting
He was nominated as Director of                to do the right thing is incredible.”       He witnessed the rapid expansion in
Allianz Insurance Management Asia                                                          the Asia-Pacific region and, after the
Pacific Pte. Ltd., Singapore in 96-97          On Sales, Agents....                        boom, the collapse of the markets.
and in 1998 was responsible for the            He was put into the sales organization      There were nightmare situations: “I left
Asia-Pacific region. In 2000 he was            for six months, ringing doorbells and
                                                                                           the office in the evening and returned
nominated as the Member of the Board           trying to sell people insurance in their
                                                                                           in the morning to find that, in the
of Management of Allianz AG, Munich,           living rooms - people from the poorer
                                                                                           meantime, the Indonesian Rupiah had
responsible for Asia-Pacific, Central          Hamburg districts who didn't have a lot
and Eastern Europe, the Middle East,           of money to throw around.                   lost 80 percent of its value.”
Africa and Group Management
Development. In the year 2002 - 2003,          “I've never forgotten that experience,”     Sobriquets earned
he was responsible for the Americas            says Mr. Diekmann. Since then sales         Press regard Diekmann's career as a
and Group Human Resources. He took             have had a special significance for him;    typical success story and described him
over as Chairman of Allianz AG on 29           it is what keeps your feet on the ground,   as -
April 2003                                     where the money comes from, and             ! Meteoric rise to the holding company
                                               where you get the best feedback on how         board!
Mr. Diekmann is not unfamiliar to India        the company is doing. “Agents and           ! Asian market conquered!
for he was the person who had signed           customers are independent people.           ! America licked into shape!
the joint venture agreement with Bajaj         They say what they mean, regardless of      ! And now, CEO !
Auto Limited. He is not a new comer to         any hierarchy.” To be really successful,    He never saw this as such a
India and has visited India several            he believes, you need to have a strong      straightforward career path himself,
times. After scouting around, during his       sales force: “The weaker your sales         although he hesitates to say so because
last visit in March 2001 they finally          force, the less pressure there is on the    he knows that some people won't
decided to tie the knot with Bajaj Auto        company to innovate. I'm absolutely         believe him. And he didn't rush into it
Limited.                                       convinced of that.”                         headlong.

                                                                                                                                     May - June 2003

IT Developments

Last year witnessed several initiatives          Some of the milestones reached by the IT            expected to be released shortly. Most
in leveraging IT in the company. In fact         department are as below -                           other existing modules products are
a strong IT backbone is one of the               l     Claims Automation module for                  also in the development pipeline
reasons why Bajaj Allianz outdid the             Motor Insurance - This Module                       l     Marine Certificate - Bajaj Allianz
competitors and was able to acquire              integrates our Call center, all offices,            was one of the first insurance company
new customers and grow profitably.               Surveyor Accounts. This integration                 to develop a software for on-line issue
                                                 using the claims software helps in                  of Marine Certificate for our Marine
All the 38 offices are fully networked           registering a claim , and appointing the            Policyholders. This system allows the
with the HO. All our intermediaries can          surveyors making payments faster                    user to issue these certificates from
also issue policies of any line of               there by, reducing the turnaround time              their own location itself. Prior to this
business from their own location                 to claim settlement.                                there was a time lag of 3-4 days in
without visiting our offices. This is            The module allows them to produce                   receiving the certificate. This delay was
done by logging on to our secure                 standardized reports and also allows                a major problem of large
website - Each           direct link to the claims system thereby            exporters who can
                                                 reducing the claims turnaround time                 now meet their
one is given access Ids to prevent
                                                 l     3-tier Architecture - All web based           deadlines with
fraudulent transactions. At any given
                                                 retail policies of locations Bajaj Allianz          their clients
point of time approx 900 people access
                                                 are being revised into a 3 tier                     abroad.
this site from various locations. This           architecture which has made system
gives seamless movement of data from             more faster and stable at all point of
one location to another and the                  sale locations. The first few modules
centrally located server. As a result            like Travel policies, Marine policies,
Bajaj Allianz has the capability to              Motor renewal, Health claims have
service big corporate clients & can              already been made live. Few more like
handle the large volume of business.             Fire simple products, Hospital Cash are

  BPL Mobile - Bajaj Allianz Tie-Up

BPL Mobile, India's premier Mobilephone service provider with Bajaj Allianz launched the Handset Insurance
along with a bundle of offerings for its subscribers across Maharashtra and Goa. Soon the service will be made
available for its subscribers across other circles of Mumbai, Kerala and Tamil Nadu.
In addition to handset insurance upto            President & COO - Customer Asset
Rs.10,000 in case of theft, other                Management commented "This
insurance services are Personal                  alliance goes a step further than
Accident Insurance of Rs. 1,00,000 in            just providing voice and text
case of death only and Hospital cash for         messages. We at BPL Mobile
15 days at Rs.500 per day is available           innovate products to suit our
.                                                subscribers' lifestyle and business
The subscriber can choose a
                                                 requirements. Handset
combination of these three insurance
                                                 misplacements are a common
cover at premiums varying from Rs.200
                                                 occurrence and this service will
to Rs.600 depending on the cover
                                                 enable our subscribers to insure
                                                 their handsets." He further stated "
This service will be available for BPL           We are in fact the only service              Mr. Deepak Varma receiving the Policy Documents from Mr. Kamesh Goyal

Mobile subscribers through all the BPL           provider in the circle to offer
Mobile galleries across Maharashtra              Handset Insurance and were the               further added" Our company has also
and Goa. They can walk away with the             first ones in the country to do so".         pioneered the issue of unique forms of risk
Insurance option of their choice by              Mr. Kamesh Goyal, Chief Operating            cover, like Special PA cover for Amarnath
making an upfront payment. They will             Officer, Bajaj Allianz added "It is in       Yatris, Housing loan cover for people who
be handed over Insurance certificate on          keeping with our commitment to               may become unemployed, Film Insurance,
the spot. Subscribers will have to retain        proactively assess customer needs            Credit Insurance cover for domestic as well
the certificate in case of the eventuality.      and harness alliances with                   as credit risk. Offering Handset Insurance is
                                                 organizations like BPL Mobile to             yet another such unique offering".
Speaking on the occasion of the launch
                                                 deliver innovative services." He
of this service, Mr.Deepak Varma, Vice                                                                                                                         09
                                                                                                        Bajaj Allianz Newstrack

Industry News

The Man who insured the future of                The new system would indirectly             Association, which is in talks with all
insurance                                        compel all insurance clients to             the possible stakeholders of the
                                                 approach intermediary brokers for their     venture.
Known for his simple sartorial taste - a
                                                 services as there would not be any          The proposed mega entity will provide
spotless white shirt and white pants -
                                                 incentive for directly dealing with         several advantages to both the insurer
and the trademark tilak across his
                                                 insurance companies.                        as well as the oil and power companies.
forehead, IRDA chairman N
                                                             Courtesy: Business Standard               Courtesy: The Economic Times
Rangachary could be possible be the
most down-to-earth regulator in the
financial system. The IRDA cheif retired         IRDA directive on commission to boost       No Insurance sticker ? Sorry, no petrol
on Monday 9th June 2003.                         brokerage industry                          Vehicle owners may soon have to paste
The credit for privatising the Indian            In a move that was expected to provide      a new sticker on their windscreen
insurance industry goes to him even              a major impetus to the brokerage            without which running the engine
though he never claims that.                     segment of the Rs. 15,000-crore Indian      could become impossible. This would
His only aim has been to promote                 insurance industry, the Insurance           be no wonder sticker but a normal one
insurance for the good of the society at         Regulatory and Development                  to be issued by the insurance
large, even if that means inviting the           Authority(IRDA) has directed the            companies providing the details of the
wrath of corporate India.                        insurers on Monday to stop providing        covers taken out for their vehicle.
              Courtesy: Business Standard        the five percent brokerage commission       The primary benefit that the such a
                                                 directly to their clients.                  sticker is expected to provide is that no
                                                                                             vehicles would ply on the road without
C. S. Rao is New IRDA Chairman                   The clients would now prefer to
                                                 approach the insurer only through the       an insurance cover.
The government on Tuesday appointed
                                                 insurance brokers wherein they would        Every vehicle should be insured and the
Revenue Secretary , Mr. C.S. Rao, as the
                                                 get the professional services of brokers    insurance code should be visible and
next Chairman of the Insurance
                                                 free-of-cost.                               immediately available to the victims to
Regulatory and Development Authority
                                                       Courtesy: The Hindu Business Line     make a claim. No vehicle should be
                                                                                             given fuel if not insured so that such (
       Courtesy: The Hindu Business Line
                                                 IRDA Revives Financial Cap for Surveyors    uninsured) vehicles are kept of the
                                                                                             roads the committee noted.
IRDA in talks with 2 firms to create citizens'   The IRDA has revised the surveyors
                                                                                                   Courtesy: The Hindu Business Line
database                                         limits in the case of marine cargo and
The Insurance Regulator y and                    miscellaneous business, while
                                                 retaining the values of work allotted to    AM Best Reconfirms " A Excellent "
Development authority (IRDA) is
talking to two hospital administration           surveyors in motor, marine hull and         Rating For GIC
companies one from India and the                 loss of profit businesses.                  The official reinsurer, GIC has managed
other from the US to establish a citizens                     Courtesy: Financial Express    to reconfirm its "A Excellent", a superior
healthcare database.                                                                         rating from the international Rating
                                                                                             Agency, AM Best.
The new database company is expected             Insurance firms plan power JV
to design a system that will gather the                                                      An " Excellent Rating of AM Best is
                                                 The General Insurance Public Sector
medical data, utilise them for interested                                                    equivalent of AA rating of S&P and
                                                 Association does not sound exactly like
parties.                                                                                     highly recognisable in international
                                                 an organisation that can give an
              Courtesy: Business Standard                                                    market.
                                                 electrifying jolt to the industry, but a
                                                                                                          Courtesy: Financial Express
                                                 proposal under its consideration could
IRDA move on premium discount flayed             well mean greased lighting - or oil and
The Insurance regulatory Development             power at any rate. Petroleum and power      IRDA Committee moots special third-
Authority's (IRDA) decision to                   sector PSU’s could join a joint venture     party insurer
discontinue the five per cent premium            by the four public sector general           The justice Rangarajan Committee
discount offered to corporate clients            insurers to create a new entity to sew up   appointed by the IRDA has suggested
directly approaching general insurance           the Rs. 1,000 crore energy insurance        a separate insurer for third-party (TP)
companies is seen adversely affecting            market in the country.                      liability business as a more practical
public sector undertaking (PSU)                  Floated by United India Assurance, the      proposition to release the burden on
insurers.                                        proposal is now in the hands of the         general insurance.
                                                 General Insurance Public Sector                          Courtesy: Business Standar

                            May - June 2003

Bajaj Allianz in the News
                                                                                                                                    Bajaj Allianz Newstrack

Exhibitions / Seminars
                                                                                    Bajaj Allianz was invited for a presentation
Goa office participants in the exhibition by the Rotary Panaji.
                                                                                    at Symbiosis Institute of Health Care
                                                                                    Management. The topic was on Health care
                                                                                    management & Insurance - Future Trends.
                                                                                    Dr. Dipan Chandrani represented Bajaj
                                                                                    Allianz at the seminar.

                                                 The Governor of Goa Mr. Kedar Nath Sahani visited our stall during Rotary
                                                 Panaji Trade Fair 2003, Briefed him about the various products and the
                                                 progress made by the company (Marketing Manager of Goa Mr. S. K. Sinha)

Training - Mission Possible

A training programme entiled - Mission
Possible, has been organised for all staff
to imbibe the Team building spirit and
                                                                                                                                     Participants undergoing
boost self confidence. The first phase of
                                                                                                                                     some physical and mind
the training programe for the Western
                                                                                                                                     exercises and other skills in
Zone involved a day in the HO and 2
                                                                                                                                     Team Building.
days in the serene and lonely spot near
Panshet Dam. The training programme
started from the first week of June .

                                                                             The objective was to develop a culture that promoted TEAM work
                                                                             among the participants with emphasis on developing leadership
                                                                             skills and overcoming interpersonal barriers.

                                                                             The training programme evoked some very touchy responses
                                                                             from people who attended it.

                                                                             A similar programme was conducted for the East Zone also.
                                                                             Mr. Sam Ghosh addressed the participants.

                                                                             The entire programme was conducted and co-ordinated by
                                                                             Mr. Trevor Rodrigues , Manager - Training.

                                                         Editor - Santosh Balan
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