Bajaj Allianz turns five | india | Hindustan Times
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Bajaj Allianz turns five

india Updated: Oct 15, 2006 00:28 IST

BAJAJ ALLIANZ Life Insurance, India’s leading private life insurer, on Saturday celebrated five successful years being the innovator and trend-setter in providing world class service and flexible insurance and investment solutions in the country.

Addressing mediapersons on the occasion, area manager Abhishek Srivastava said that Bajaj Allianz Life Insurance had revolutionised the private sector life insurance industry by rolling out the ‘Banyan Tree’— a decentralised distribution model— wherein each office head is considered a mini-CEO and functions as an entrepreneur.

“Today most insurance companies are following this model to expand in India. On this path-breaking and eventful journey, Bajaj Allianz life Insurance has achieved many milestones with numerous innovations and is accelerating to achieve many more,” he said.

Highlighting major achievements of the past five years, Srivastava said the new business premium as per IRDA results for the 5 years was over Rs 5134 crore.

“Over 19 lakh policies in five years and establishing as No 1 private sector life insurer in the 2005-06 financial year for new business premium as per IRDA results are some of our other achievements. We have more than 150,000 agents and over 16,000 employees. We have also opened company offices in 900 towns.”