Unconventional, yet very powerful!

Bajaj Allianz Life Insurance leveraged Facebook Live to speak to all stakeholders about its new orientation

Bajaj Allianz Life Insurance today connected with over 5000+ employees across 600 odd locations, a few hundred thousand customers, agents and partners, in India, to talk about its new orientation. The interesting thing here is that it didn’t happen via an email or a video grab, but their MD & CEO, Tarun Chugh did a Facebook Live session to ensure everyone was connected, engaged and updated all at once! A fairly strong signal on the things to come at Bajaj Allianz Life.

It was interesting to hear Tarun, who’s a veteran in the Indian life insurance industry, talk about how life insurance companies do not celebrate all the good things the industry has to offer and the imagery of life insurance is mostly related with death benefits and mortality. Having seen the industry evolve, having experienced how customers are saving, spending or investing, he says it is necessary to position the industry in a different light. And that is where he believes Bajaj Allianz Life’s new orientation will come in.

The new value proposition for his company, in Tarun Chugh’s words, is being the enabler of life goals. He believes that customers are now looking at more immediate results of their investments, they are seeking solutions that can help them celebrate what they are saving for be it a start-up or a luxury holiday or maybe even executive studies and so on. These customers, while they have an eye on the future of their child’s education or child’s marriage or even their own retirement, are also aggressively seeking fulfilment and benefits of their investments. These customer insights, backed by the strong India growth story, has given rise to the company’s new orientation.

We have seen the company take a few steps in this direction. Starting from the new expression of their belief ‘Life Goals. Done.’, their recent product launch – Bajaj Allianz Life Goal Assure, the new tech-based service initiatives and the new design to their website.

The holistic reorientation and thus, every aspect in the company is now being built or strengthened to enable customers achieve and celebrate life goals, he said.