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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Joins Hands with

Aug 13, 2014   17:08 IST 
Gurgaon, Haryana, India

Bajaj Allianz Life Insurance, one of the leading private life insurers, has tied up with leading online insurance aggregator The partnership is aimed at tapping the increasing opportunity in online insurance market.

Along with its online term plan iSecure, Future Gain, Life Long Assure and other products will soon be available for online sale on Bajaj Allianz Life Insurance has been in the online insurance market and is looking forward to mutually tap the growth opportunity.

Commenting on the partnership, Mr Anuj Agarwal, MD & CEO, Bajaj Allianz Life Insurance, said, “We have tied up with PolicyBazaar, as it has a proven track record in the online insurance sales space. We are hopeful of having mutual benefits with this partnership. Also, with PolicyBazaar's expertise, we are confident of witnessing growth in this segment. The online insurance market is poised to see a substantial growth in the coming years. So, we thought this would be the right time have such a partnership.”

According to Mr. Agarwal, an exponential growth in online sales will ultimately reach out to more net-savvy individuals and families.

According to Mr. Yashish Dahiya, CEO & Co-founder,, We welcome this partnership are excited to have the products of Bajaj Allianz Life Insurance made available for customers. With more and more people buying insurance online, such robust associations are of great benefit to consumers who can compare and buy the right insurance policy for themselves.”

Bajaj Allianz Life Insurance has been evaluating the online market for some time. In fact, it was the first Company among the private life insurers to have an online unit-linked product. Bajaj Allianz Life Insurance also has tools like Knowledge Capsules section, Calculators, live chat option on its website to aid online sales.   

According to a recent study, the online insurance market reportedly stood at Rs 700 crore,  online life insurance market being Rs 300 crore,  and has potential to grow significantly over the next few years. The overall life insurance new annualized business is expected to grow 2 to 2.5 times by 2020 to Rs 1.25 lakh to 1.5 lakh crore. On the other hand, life insurance renewals expected to grow to Rs 5.5 lakh to
7 lakh crore by 2020.

A large chunk of this business is going to come through the online segment, the study says. This can be attributed to the fact that number of internet users is expected to grow from 2.7 billion in 2013 to 3.3 billion by 2017 in India with the help of an improved internet infrastructure. Online search query index for life insurance has also witnessed a 136% growth, the study done jointly Google and Boston Consulting Group pointed out. was the chosen partner because it is the largest platform for comparison and sale of insurance online. Awarded 'The Best financial website of the Year' by IAMAI (Internet and Mobile Association of India), specializes in assisting customer make easy purchase decisions by helping them analyze financial products based on price, quality and key features. In the past 4 years the platform has grown 28 folds and now has more than 5 lakh registered users comparing and buying insurance policies online.

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is a joint venture between Allianz SE, the world’s leading insurer, and Bajaj Finserv Limited. Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world. Bajaj Allianz Life Insurance is one of the leading private life insurance companies in India. The Company has developed insurance solutions that cater to every segment and age-income profiles. Currently, Bajaj Allianz Life Insurance has a strong product portfolio with adequate flexible products to cater to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance. The Company began its operations in 2001 and today has a pan-India presence with nearly 950towns and cities in India. Bajaj Allianz Life Insurance has been constantly expanding its operations to be close to their customers.


Policybazaar is India's largest online financial services platform and is an InfoEdge (, Intel Capital, and Inventus Capital Investee Company. The company began operations in 2008 as a key force in establishing an informative online financial services platform in India. Over the next five years the company has marked a staggering growth in terms of revenue and customer acquisition to become the largest online aggregator in India. boasts of over 20 million unique visitors each year who compare the best suited financial products for them and the sale of over 20,000 policies on a month. specializes in making easy purchase decision by helping the consumer with analysis of financial products based on price, quality and key features. The portal showcases an array of insurance plans offered by a reputed pool of insurers as well as up-to-date information on financial products and prompt, solution driven customer service.
Our industry knowledge, lucid user interference and innovative technologies have led us to garner 60% of the market share of all insurance transactions that take place on the online space. Owing to our customer centric approach, we've gained a huge credibility across the nation. More than 5 million registered users log on to our website to compare and buy plans from the leading insurers.

For further information:

Bajaj Allianz

Santosh Balan: +91 98 600 97056                                                                 

Chandni Arora: +91 99 520 55013                                                                

Ayan Pramanik: +91 97 302 40099
Neharika Sabharwal: +91 9811355405

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