Bharti AXA General Insurance

INSURANCE

Bharti AXA General Insurance  reaches landmark  milestone of Rs 1,000 crore Annual Gross Written Premium 

Nov 27, 2012

by Prashant Kapadia / INS

Bharti AXA General Insurance Company Ltd, one of the fastest growing general insurance companies in India, has reached a major milestone by crossing the landmark figure of INR 1,000-crore in Gross Written Premium (GWP) for calendar year 2012.

Bharti AXA GI is the fastest ever multi-line general insurance company in the country to reach INR 1,000 crore landmark. This accomplishment has further consolidated its position in the general insurance since its inception in August 2008.

This significant achievement has been made possible by Bharti AXA General Insurance’s innovative products like Health, Zero Depreciation Add-Ons with Motor Product and Health Critical Illness benefit product that covers the maximum number of Critical Illnesses. The claims servicing, where it is paid over 3 lakhs claims since inception, has been instrumental in Bharti AXA general insurance gaining trust and confidence from its consumers & partners.

Future Market strategy

·         Empathetic service delivery at the finger tips to customers & partners: including instant policy issuance, claims tracking, personalised claims handler services and service guarantees to redefine general insurance

·         Invest in state of art CRM technology to improve the value proposition to partners via Customer Profiling & Customer Life Stage analysis

·         Grow Commercial Lines by focusing on Marine & Project insurance, Package policies and focus on SME by leveraging the technical capabilities of the award winning Risk Engineering team

Commenting on crossing the milestone at the press conference, Dr. Amarnath Ananthanarayanan, CEO & MD, Bharti AXA General Insurance, said, “In just four years, we have built the trust of 2 million customers to become one of the fastest growing multiline general insurance companies in India. I sincerely thank our customers for showing confidence in us as well as sincerely appreciate the efforts of our partners and my colleagues who have helped us cross the INR 1,000-cr in GWP this year. We will focus on re-defining service levels, enhance partner capability & exponentially grow our Commercial Lines of business to become the preferred general insurance company in India.”

Despite being a late entrant (20thplayer) into the GI market, Bharti AXA GI has found a place because of its innovative approach. The company, which has focused on growing aggressively at over 45 % from 2011 to 2012, aims to consolidate and continue the momentum for the financial year 2013. This  includes portfolio improvement by maintaining consistency in service, moving from being a product player to providing innovative solutions, and focusing on the underserved segment, especially in tier- II and III cities.

Sampath Kumar, Chief Financial Officer, Bharti AXA General Insurance, said, “The year 2012 has been an eventful one for us as we crossed the magical figure of INR 1,000-crore mark. This achievement means a lot to us and we as an organization will look forward to grow our endeavours in all channels and elevate our business to higher levels with an expected growth rate of around 30% in the calendar year 2013.”

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