Bharti Axa General Insurance Aims to Open 29 More Branches in 2014

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It won the “Best Employer Brand” award at the IPE BFSI Awards 2012 and “Claims Initiative of the Year” award at Star of the Industry Awards 2012. Bharti AXA General Insurance is the only Indian company in the Life and General Insurance category to have been nominated for and won the “Risk Manager of the Year” award at the Asia Insurance Industry Awards 2011.


City, State, Country., April 23, 2014 - (PressReleasePoint) - Amongst the Top 10  Private General Insurance companies Bharti AXA GI has recorded the highest growth in Motor and Commercial Lines at 23.3% and 43.9% respectively in CY 2013
*      Conferred with the ‘Best Private  Insurance Company – General,  2014’award by World HRD Congress at BFSI Awards
Mumbai, 12th March, 2014: Bharti AXA General Insurance (GI) Company Ltd, one of the fastest growing multi-line general insurance companies in India, and recently proclaimed the ‘Best General Insurance Company’ in the private sector by the World HRD Congress at the BFSI Awards 2014, today announced its intent to grow and consolidate its position in 2014, at the company’s Annual Group Press Conclave. As part of its growth plan, the company will focus on becoming more customer and partner centric by introducing new products, deeper penetration in existing markets, reaching out to new markets and segments as well as differentiated services and digital offerings.
 
As part of their go-to market strategy in 2014, the company is aggressively looking at a multi-pronged approach which involves
 
ü  Growing distribution in smaller cities
ü  Deeper penetration in motor segment leveraging Add-Ons
ü  Growing Commercial Lines with special focus on Liability
ü  Growing Retail Health through both the Agency and Digital
ü  Health Service Differentiation with rollout of Dedicated Claims Handler to Group Health customers
ü  Overall Service differentiation using Digital – launch of dedicated portals for partners, Bharti AXA Partner, and customers, Bharti AXA Customer
The company aims to open 29 branches across the width and length of the country in 2014, after applying for the necessary Regulatory approvals, with the objective of deepening its reach and distribution in tier II and tier III markets. The planned locations are as under  - 
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Addressing the media, Dr Amarnath Ananthanarayanan, MD and CEO, Bharti AXA General Insurance said, “In a tough economic environment, we are one of only two “top 10” private players who have shown consistency in performance and have maintained our market share, while improving our combined operating ratio. Being awarded the Best Private General Insurance Company of the Year 2014 has motivated us to work harder to improve and achieve excellence across product development, service levels, distribution expansion, claims management and all other spheres. We are collectively adapting to changing trends in the country and as a result of this we have made quick in-roads into the digital space as well. We will continue to strive hard in providing product and service innovation to our customers. Through the process of continuous improvement, we will focus on re-defining service levels, enhancing partner capability and exponentially growing our commercial lines of business to become the preferred general insurance company in India.”
In a quick move to ride the digital revolution, Bharti AXA GI has embarked on a comprehensive digital drive to harness the power of technology to provide best-in-class services to its customers and partners. It will be launching two dedicated portals for customers and partners. While Bharti AXA Partner will provide for easy inter-operability for partners through the open architecture framework enabling easy access to product, pricing, processing etc.,Bharti AXA Customer will provide customers access to policy details like renewal period, policy schedules as well as option to edit personal details.  For customers, it will also look deeply into telematics, an application of technology for customized pricing and plans. With its recently launched e-commerce enabled web platform, Bharti AXA GI increases its reach and accessibility to its customers across the country. It also added a customized suggestion/feedback mechanism for continuous innovation and improvement last month. This can be viewed at http://www.bharti-axagi.co.in/suggestions/
Innovation being part of the company’s DNA, the company was one of the first to launch innovative motor add ons like Hospital Cash cover, Medical Expenses Reimbursement cover and Ambulance Charges cover as part of its Motor Insurance offering, with the aim of going beyond the vehicle and address the needs of the passengers within. Through its Risk Engineering offering under Commercial Insurance, Bharti AXA GI has implemented the use of modern technological tools like GPS, Satellite earth images, Nat Cat Hazard mapping software, etc. in pre-acceptance surveys for risk assessment.
 

Bharti AXA General Insurance:
 
Bharti AXA General Insurance Company Ltd is a joint venture between Bharti Enterprises, a leading Indian business group and AXA, a world leader in financial protection. The joint venture company has a 74% stake from Bharti and 26% stake of the AXA Group. Presently the organization has cashless facilities in over 4300+ network hospitals and over 1800+ garages, as well as 24/7 claims registration through multi-modal channels like e-mail and SMS. The organization commenced national operations in August 2008 and currently has 59 branch offices across the country. Owing to its continued excellence, the company was awarded the Best Private Insurance Company – General, 2014 award by the World HRD Congress at the BFSI Awards 2014.  Best Integrated Campaign of the Year and Viral Campaign of the year at the Youth Marketing Forum’s Social Media Awards are two more feathers that the company added to its hat in the year 2014.  Further, it is also the first organization in the GI Industry to receive dual certifications of ISO 9001:2008 & ISO 27001:2005 within the first year of operations in 2009 and subsequently re-certified in 2012 for further 3 years. In the year 2013, the company was conferred the Editor’s choice award for service innovation at Banking Frontier’s Finnoviti Awards. The organization was also awarded the prestigious “Personal Lines Growth Leadership Award 2011” at the India Insurance Awards 2011 and this won the “Best Product Innovation Award” and “Commercial Lines Growth Leadership Award” at India Insurance Awards 2012. It won the “Best Employer Brand” award at the IPE BFSI Awards 2012 and “Claims Initiative of the Year” award at Star of the Industry Awards 2012. Bharti AXA General Insurance is the only Indian company in the Life and General Insurance category to have been nominated for and won the “Risk Manager of the Year” award at the Asia Insurance Industry Awards 2011.


 


Insurance, Bangalore


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