Bajaj Allianz General reduces premium for car insurance by 5-15%

Bajaj Allianz General Insurance has reduced premium rates by 5-15 percent for the private car segment.

The new rates will be applicable from January 1 next year. With this step, the company aims to encourage more people to buy insurance.

Tapan Singhel, Managing Director and Chief Executive Officer of Bajaj Allianz General Insurance, said: “This New Year, we are taking one more step in this direction by re-looking at our prices and lowering premium rates in the private car segment, which will create value for money for our customers. The company will pass on the benefits of digitisation and increasing efficiency in various distribution channels to all existing and new customers."

In the past, Bajaj Allianz General Insurance has explored and implemented new technologies beneficial for private car policyholders.

For instance, DriveSmart, a telematics offering which rewards customers for their good driving behaviour, and Motor OTS that enables customers to self-survey the loss with the company’s Insurance Wallet application on their smartphones, and allows them to settle the motor claims of less than Rs. 20,000 immediately.