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8/9/2019 Revised Projt 1 (1)
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
INTRODUCTION TO INSURANCE SECTOR
Future is always unertain an! "ull #" ris$. It is n#t ertain t%at w%at is in&
t# %a''en t#(#rr#w. T%ere"#re a (an is always w#rrie! a)#ut seurity #"
'r#'erty an! li"e. Insurane is a (eans #" (eetin& #ut l#ss ause! )y "uture
ris$s an! unertainties.
Insurane is a #ntrat )etween tw# 'arties w%ere)y #ne 'arty alle! insurer
un!erta$es in e*%an&e "#r a "i*e! su( alle! 're(iu(s+ t# 'ay t%e #t%er 'arty
alle! insure! a "i*e! a(#unt #" (#ney #n t%e %a''enin& #" a ertain e,ent.-
A#r!in& t# Patters#n+ Insurane is an a&ree(ent )etween tw# 'arties un!er
w%i% #ne 'arty un!erta$es s'ei"ie! "uture ris$ #" an#t%er 'arty an!
#('ensates t%e l#ss "r#( t%at ris$ #n 'ay(ent #" s#(e #nsi!erati#n $n#wn as
're(iu( 'aya)le )y t%e later.
Insurane (ay )e !esri)e! as a s#ial !e,ie t# re!ue #r eli(inate ris$ #"
li"e an! 'r#'erty. Un!er t%e 'lan #" insurane+ a lar&e nu()er #" 'e#'le
ass#iate t%e(sel,es )y s%arin& ris$+ atta%e! t# in!i,i!ual.
it% t%e %el' #" Insurane+ lar&e nu()er #" 'e#'le e*'#se! t# a si(ilar
ris$ (a$es #ntri)uti#ns t# a #((#n "un! #ut #" w%i% t%e l#sses su""ere! )y
t%e un"#rtunate "ew+ !ue t# ai!ental e,ents+ are (a!e #!.
Insurane is a t##l )y w%i% l#sses #" a s(all nu()er are #('ensate! #ut #"
"un!s #llete! "r#( 'lente#us. Gra!ually as #('etiti#n inrease! )ene"its
&i,en )y in!ustry t# its ust#(ers inrease! )y lea's an! )#un!s. Insurane is a
)asi "#r( #" ris$ (ana&e(ent w%i% 'r#,i!es 'r#teti#n a&ainst '#ssi)le l#ss
t# li"e #r '%ysial assets. Pers#n w%# see$s 'r#teti#n a&ainst su% l#ss is
ter(e! as insure!+ an! #('any t%at 'r#(ises t# %#n#r lai(+ inase su% l#ss
is atually inurre! )y insure!+ is ter(e! as Insurer. In #r!er t# &et insurane+
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
insure! is re0uire! t# 'ay t# insurane #('any a ertain a(#unt alle!
're(iu(. Pre(iu( is #llete! )y insurane #('anies w%i% ats as trustee t#
'##l reate! t%r#u&% #ntri)uti#ns (a!e )y 'ers#ns see$in& t# 'r#tet
t%e(sel,es "r#( #((#n ris$. Any l#ss t# t%e insure! inase #" %a''enin& #"
an unertain e,ent is 'ai! #ut #" t%is '##l.
Insurance provides:
Pr#teti#n t# in,est#rs.
Au(ulati#n #" sa,in&s.
C%annelin& t%ese sa,in&s int# set#rs nee!in& %u&e l#n& ter( in,est(ent.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
INSURANCE REGULATORY AND DEVELOPMENT
AUTORITY
In /222+ t%e Insurane Re&ulat#ry an! 3e,el#'(ent Aut%#rity 4IR3A5 were
#nstitute! as an aut#n#(#us )#!y t# re&ulate an! !e,el#' t%e insurane
in!ustry. T%e IR3A was in#r'#rate! as a statut#ry )#!y in A'ril+ 1666. T%e
$ey #)7eti,es #" t%e IR3A inlu!e 'r#(#ti#n #" #('etiti#n s# as t# en%ane
ust#(er satis"ati#n t%r#u&% inrease! #nsu(er %#ie an! l#wer 're(iu(s+
w%ile ensurin& t%e "inanial seurity #" t%e insurane (ar$et. T%e IR3A #'ene!
u' t%e (ar$et in Au&ust 1666 wit% t%e in,itati#n "#r a''liati#n "#r
re&istrati#ns. F#rei&n #('anies were all#we! #wners%i' #" u' t# 189. T%e
Aut%#rity %as t%e '#wer t# "ra(e re&ulati#ns un!er Seti#n //:A #" t%e
Insurane At+ /2;< an! %as "r#( 1666 #nwar!s "ra(e! ,ari#us re&ulati#ns
ran&in& "r#( re&istrati#n #" #('anies "#r arryin& #n insurane )usiness t#
'r#teti#n #" '#liy%#l!ers= interests. IR3A is re&ulate! #r #ntr#lle! un!er t%e
%air(ans%i' #" S!ri" #"ari Nara$an"
Ro%e o& IRDA:
Pr#tetin& t%e interests #" '#liy%#l!ers.
Esta)lis%in& &ui!elines "#r t%e #'erati#ns #" insurers+ an! )r#$ers.
S'ei"yin& t%e #!e #" #n!ut+ 0uali"iati#ns+ an! trainin& "#r insurane
inter(e!iaries an! a&ents.
Pr#(#tin& e""iieny in t%e #n!ut #" insurane )usiness.
Re&ulatin& t%e in,est(ent #" "un!s )y insurane #('anies.
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S'ei"yin& t%e 'erenta&e #" )usiness t# )e written )y insurers in rural
set#rs
>an!lin& !is'utes )etween insurers an! insurane inter(e!iaries.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
DISTRI'UTION O( INSURANCE PRODUCTS
Insurane %as t# )e s#l! t%e w#rl! #,er. T%eT#u% '#int wit% t%e ulti(ate
ust#(er is t%e !istri)ut#r #r t%e 'r#!uer an! t%e r#le 'laye! )y t%e( in
insurane (ar$ets is ritial. It is t%e !istri)ut#r w%# (a$es t%e !i""erene in
ter(s #" t%e 0uality #" a!,ie "#r %#ie #" 'r#!ut+ ser,iin& #" '#liy '#st sale
an! settle(ent #" lai(s. In t%e In!ian (ar$et+ wit% t%eir !istint ultural an!
s#ial et%is+ t%ese #n!iti#ns will 'lay a (a7#r r#le in s%a'in& t%e !istri)uti#n
%annels an! t%eir e""eti,eness. In t#!ay?s senari#+ insurane #('anies (ust
(#,e "r#( sellin& insurane t# (ar$etin& an essential "inanial 'r#!ut. T%e
!istri)ut#rs %a,e t# )e#(e truste! "inanial a!,is#rs "#r t%e lients an! truste!
)usiness ass#iates "#r t%e insurane C#('anies.
C%allen&es "#r insurane #('anies an! inter(e!iaries in In!ia@
Buil!in& "ait% a)#ut #('any in t%e (in! #" lients.
Buil!in& 'ers#nal re!i)ility wit% t%e lients.
Di&&eren) dis)ri*u)ion c!anne%s in India:+
A (ulti@%annel strate&y is )etter suite! "#r t%e In!ian (ar$et. In!ian
insurane (ar$et is a #()inati#n #" (ulti'le (ar$ets. Ea% #" t%e (ar$ets
re0uires a !i""erent a''r#a%. A'art "r#( &e#&ra'%ial s'rea! t%e s#i#@
ultural an! e#n#(i se&(entati#n #" t%e (ar$et is ,ery wi!e+ e*%i)itin&
!i""erent traits an! nee!s. 3i""erent (ulti@!istri)uti#n %annels in In!ia are
as "#ll#ws
A,en)s: A&ents are t%e 'ri(ary %annel "#r !istri)uti#n #" insurane.
T%e 'u)li an! 'ri,ate set#r insurane #('anies %a,e t%eir )ran%es in
al(#st all 'arts #" t%e #untry an! %a,e attrate! l#al 'e#'le t# )e#(e
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tie@u's an! allianes. C#r'#rate a&ents %a,e )e#(e a (a7#r "#re t#
re$#n wit% in !istri)utin& insurane 'r#!uts. Su% as@ Ba7a7 Allian tie!
u' wit% Maruti U!y#& an! F#r! "#r aut# insurane an! Tata AIG li"e %as
tie! u' wit% Tata tea+ $%aitan=s illia(s#n (a7#r an! )ri!&e "#un!ati#n
"#r sellin& rural '#liies.
In)erne): In t%is te%n#l#&ial w#rl! internet is als# a %annel #" sellin&
insurane. T%is an )e as !iret (ar$etin&.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
INTRODUCTION TO MOTOR INSURANCE
M#t#r Insurane is #ne #" t%e lar&est n#n@li"e insurane )usinesses in t%e
w#rl!. All (#t#r ,e%iles are re0uire! t# )e re&istere! wit% t%e r#a! trans'#rt
aut%#rities an! insure! "#r t%ir! 'arty lia)ility. T%e )asi 're(ise is t%at (#t#r
,e%iles #ul! eit%er ause in7ury #r )e a su)7et #" !a(a&e an! in7ury an! t%us
re0uire insurane. T%e M#t#r e%ile At #" /2;2 intr#!ue! #('uls#ry @2 t#
ta$e are #" t%#se w%# (ay &et in7ure! in an ai!ent.
T%ere %as )een a '%en#(enal rise in t%e (#t#r ai!ents in t%e last :@
years. Mu% #" t%ese are attri)uta)le t# a su!!en s'urt in t%e nu()er #"
,e%iles. T%ere is a !an&er at e,ery #rner w%en it #(es t# In!ian r#a!s.
T%ere"#re+ e,ery ,e%ile )ein& !ri,en #n r#a!s %as t# )e #('uls#rily insure!.
Le&ally+ n# (#t#r ,e%ile is all#we! t# )e !ri,en #n t%e r#a! wit%#ut ,ali!
insurane. >ene+ it is #)li&at#ry t# &et t%e ,e%ile insure!.
M#t#r insurane '#liies #,er any l#ss #r !a(a&e ause! t# t%e ,e%ile #r
its aess#ries !ue t# t%e natural an! (an (a!e ala(ities li$e "ire+ e*'l#si#n+
eart%0ua$e+ "l##!+ )ur&lary+ t%e"t+ ri#t+ stri$e+ (alii#us at et. M#t#r insurane
'r#,i!es #('uls#ry 'ers#nal ai!ent "#r in!i,i!ual #wners #" t%e ,e%ile
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w%ile !ri,in&. One an als# #'t "#r a 'ers#nal ai!ent #,er "#r 'assen&ers an!
t%ir! 'arty le&al lia)ility. T%e t%ir! 'arty le&al lia)ility 'r#tets a&ainst le&al
lia)ility arisin& !ue t# ai!ental !a(a&es. It inlu!es any 'er(anent in7ury #r
!eat% #" a 'ers#n an! !a(a&e ause! t# t%e 'r#'erty.
It re'resents a #()ine! #,era&e #" t%e ,e%iles inlu!in& l#ss #r !a(a&e
t# %is 'r#'erty #r li"e an! t%e t%ir! 'arty #,era&e.
e rea! e,ery !ay in t%e news'a'ers a)#ut ai!ents+ )#() e*'l#si#ns
ta$in& 'lae. ;6 #ut #" /66 ,e%iles (eet wit% ai!ents #n t%e r#a!. #u ste'
#ut #" y#ur %#use an! at e,ery (#(ent en#unter nu()er #" ris$s t%at #ne
ann#t i(a&ine. %at is w#rryin& "#r all #" us is n#t t%e #'erati#n #" t%#se ris$s
)ut t%e #'erati#ns t%at are ai!ental+ un"#reseen an! e*ternal.
T%ere is %ar!ly any in!ustry i.e. (anu"aturin& ati,ity #r ser,ie
#r&aniati#n t%at !#es n#t #(e wit%in t%e s#'e #" General Insurane. Ris$ is
in%erent as'et #" %u(an li"e w%et%er in!i,i!ual #r #r&aniati#n. it%#ut ris$s
t%ere ann#t )e 'r#&ress. Ourrene #" unertainty ann#t )e 're!ite!.
Insurane is #ne ertain way #" !ealin& wit% unertainties )eause ris$ arises
#ut #" unertainty an! is a 'er,asi,e "#re in t%e w#rl!.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
ISTORY O( MOTOR INSURANCE
M#t#r Insurane %a! its )e&innin&s in t%e Unite! in&!#( in t%e early 'art
#" t%is entury. T%e "irst (#t#r ar was intr#!ue! int# En&lan! in /
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
NEED (OR MOTOR INSURANCE
In In!ian #n!iti#ns t%e ,e%iles are su)7et t# (any %aar!s li$e '#t%#les+
'u!!les+ tra""i (ana&e(ent syste(+ 7aywal$ers+ inreasin& nu()er #" ai!ents
et. w%i% aentuate t%e nee! "#r aut#(#)ile insurane. S#(e #" t%ese %aar!s
are !isusse! )el#w@
(oo)pa)!s:As "##t'at%s are #u'ie! )y %aw$ers+ 'e!estrians %a,e a
t#u&% ti(e !#!&in& )etween ,e%iles t# rea% t%e #t%er en! #" t%e r#a!.
Lar&e '#t%#les !urin& (#ns##ns an w#rsen t%e situati#n ausin&
!a(a&e t# t%e ,e%ile.
Drun-en Drivin,:It is an#t%er (a7#r reas#n "#r inrease in ai!ents+ )e
it a ar+ tw#@w%eeler #r e,en a tru$.
Rec-%ess Drivin,: Ma7#rity #" t%e
y#un&sters !ri,e re$lessly arin& little "#r
t%e law+ ausin& seri#us ai!ents resultin&
in l#ss #" li"e #r li().
(ire:T%ere is als# a !an&er #" "ire #r t%e"t #" ,e%ile. T%ere"#re+ (#t#r
insurane un!er su% unsa"e #n!iti#ns is a (ust n#t #nly t# #,er ris$s
t#war!s t%e #wner an! t%e ,e%ile )ut als# t# #,er t%e "inanial lia)ility
t%at (ay arise "r#( an ai!ent in w%i% t%e #t%er 'arty is in7ure! #r t%e
#st #" re'airs t%at y#u (ay %a,e t# 'ay t# #t%er 'arty in ase #" an
ai!ent.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
T!e&):Cases #" st#len ars #n t%e rise. E*'erts in stealin& ars are well
aware #" t%e l##'%#les t%at an )e e*'l#ite! an! a#r!in&ly %a,e )een
suess"ul in (ani'ulatin& wit% t%e %ases n#. #" ,e%iles in #r!er t%at
t%ey are n#t trae!.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
PRINCIPLES O( MOTOR INSURANCE
." Princip%e o& U)/os) ,ood &ai)!: C#ntrats #" (#t#r insurane are
,erne! )y t%e !#trine #" Hut(#st #! "ait%. It is t%e na(e #" a le&al
!#trine w%i% ,erns insurane #ntrats. Un!er ut(#st #! "ait%
#ntrats i" t%ere is a ,i#lati#n it is aterie! as a (aterial
(isre'resentati#n+ a )rea% #" a warranty+ #r #neal(ent. S#(e
e*a('les #" (aterial "ats in (#t#r insurane are t%e ty'e #" ,e%ile+ t%e
&e#&ra'%ial area #" use+ t%e '%ysial #n!iti#n #" t%e !ri,er+ t%e !ri,in&
%ist#ry #" t%e !ri,er et.
0" Princip%e o& Con)rac) o& Inde/ni)$: T%e 'rini'le #" in!e(ni"iati#n is
t%at t%e insure! s%#ul! n#t 'r#"it "r#( t%e '#liy. T%is !#es n#t 'relu!e
t%at t%e insure! will su""er s#(e l#ss. In "at+ (any '#liies inlu!e a
!e!uti)le w%i% &uarantees t%at t%e insure! will 'ay 'art #" ea% l#ss
%i(sel". In t%e e,ent #" t#tal l#ss #" t%e ,e%ile+ insurers 'ay t%e (ar$et
,alue #" t%e ,e%ile at t%e ti(e #" l#ss #r t%e su( insure! w%i%e,er is
less. I" ,e%ile is !a(a&e!+ t%e #st #" re'airs is 'ai!+ )ut i" #l! 'arts are
re'lae! )y new+ a suita)le !e'reiati#n is %ar&e! #n t%e #st #" new
'arts.
1" Princip%e o& Insura*%e In)eres): Insura)le Interest is #ne w%erein l#ssw#ul! )e su""ere! "r#( an a!,erse #urrene t# t%e 'ers#n insure!. In
(#t#r insurane+ t%e ,e%ile is t%e 'r#'erty w%i% is e*'#se! t# l#ss #r
!a(a&e. T%e insure! als# %as a le&al lia)ility t#war!s t%ir! 'arties %e
(ay su""er "inanial l#ss i" %e inurs t%at lia)ility ause! )y ne&li&ent use
#" t%e ,e%ile. T%ere"#re+ t%e insure! %as insura)le interest w%i% entitles
%i( t# insure t%e ,e%ile a&ainst !a(a&e an! lia)ility ris$. M#t#r '#liiesare e*ten!e! t# in!e(ni"y 'ers#ns #t%er t%an t%e insure! in res'et #"
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t%ir! 'arty lia)ility. Alt%#u&% #wner insure! %as+ n# insura)le interest in
any su% lia)ility+ %e is !ee(e! as %a,in& ate! as an a&ent in arran&in&
t%e in!e(nity #n )e%al" #" #t%er 'ers#ns w%# (ay !ri,e t%e ,e%ile an!
inur lia)ility. Ot%erwise+ t%e in7ure! t%ir! 'arties will %a,e n# re#urse
t# re#,er !a(a&es.
2" Princip%e o& su*ro,a)ion:Su)r#&ati#n is t%e trans"er #" t%e ri&%ts "r#(
t%e insure! t# t%e insurer w%en t%e l#ss #r !a(a&e t# t%e ,e%ile is ause!
)y t%e ne&li&ene #" an#t%er 'ers#n. Insurers e*erise t%e ri&%t t# #,er
t%e l#ss "r#( t%e 'ers#n res'#nsi)le. Su)r#&ati#n #'erates #nly a"ter t%e
lai( is 'ai!.
3" Princip%e o& con)ri*u)ion:It arises w%en t%ere is !#u)le insurane+ t%at
is+ w%en t%e sa(e ,e%ile is insure! un!er tw# '#liies. T%e #ntri)uti#n
#n!iti#n is s'eially w#r!e! in 'ri,ate ar '#liies )eause t%e #wner is
als# #,ere! "#r t%e t%ir! 'arty lia)ility w%ile !ri,in& ars n#t )el#n&in&
t# %i(.
4" Pro5i/a)e Cause: In t%is+ t%e l#ss #r !a(a&e t# t%e ,e%ile is
in!e(ni"ie! #nly i" it is 'r#*i(ately ause! )y #ne #" t%e insure! 'erils.
T%e !#trine als# a''lies t# t%ir! 'arty lai(s. T%e t%ir! 'arty in7ury #r
'r#'erty !a(a&e (ust )e 'r#*i(ately ause! )y t%e ne&li&ene #" t%einsure! "#r w%i% %e is %el! le&ally lia)le t# 'ay !a(a&es.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
MOTOR VEICLE ACT
In In!ia t%e M#t#r e%iles At was "irst intr#!ue! in /2;2 an! later it
)ea(e e""eti,e "r#( /st July+ /2
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
Stan!ar!s "#r anti@'#lluti#n #ntr#l !e,ies.
See$in& t# 'r#,i!e "#r (#re !eterrent 'unis%(ent in ases #" ertain
#""enes.
Li)eralie! s%e(es "#r &rant #" All@In!ia T#urist 'er(its as als# nati#nal
'er(its "#r #!s arria&es.
T!e %ia*i%i)ies )!a) re7uire )o *e covered under )!is Ac) are:
Any lia)ility arisin& in res'et #" !eat% #r )#!ily in7ury t# any 'ers#n
inlu!in& t%e #wner #" t%e ,e%ile #r %is aut%#rie! 'ers#n in t%e
arria&e.
Any lia)ility inurre! in res'et #" !a(a&e t# any 'r#'erty #" a t%ir!
'arty.
Any lia)ility inurre! in res'et #" t%e !eat% #r )#!ily in7ury #" any
'assen&er #" a 'u)li ser,ie ,e%ile.
Any lia)ility arisin& un!er #r$(en=s C#('ensati#n At+ in res'et #"
in7ury #r !eat% #"
A 'ai! !ri,er #" t%e ,e%ile
C#n!ut#r #r ti$et e*a(iner
#r$er=s arries in a #!s ,e%ile.
Any lia)ility "#r )#!ily in7ury #r !eat% #" 'assen&ers w%# are arrie! "#r
rewar! #r %ire )y reas#n #" a #ntrat #" e('l#y(ent.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
T%e '#liy s%#ul! arry a Kn# "ault= lia)ility li(ite! t# a su( #" Rs 6+666
in ase #" !eat%+ Rs 1+666 in ase #" 'er(anent !isa)ility an! Rs 8+666
in ase #" !a(a&e t# 'r#'erty.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
LA8S AND REGULATIONS
T%e lassial sene #n In!ian r#a!s is t%at #" arr#&ant !ri,ers )ullyin& #,er
sa"e !ri,ers. Tru$s+ )uses+ ars+ tw# w%eelers an! t%ree w%eelers all we!&in& in
)etween #t%er ,e%iles+ try t# rae a%ea!+ at tra""i si&nals an! in )etween
si&nals. it% t%eir %an!s #n t%e steerin& w%eel+ (#st !ri,ers "eel t%ey #wn t%e
r#a!s. F#r t%ese !ri,ers tra""i rules are silly an! $ill t%e 7#y #" !ri,in& a
,e%ile.
M#re t%an ; (illi#n re&istere! ,e%iles tra""i a netw#r$ #" ar#un! ;
(illi#n $(s #" r#a!s in In!ia. T%e In!ian r#a!s see (#re t%an ;la$%s r#a!
ai!ents t%at $ill (#re t%an 8+666 'e#'le an! in7ure an#t%er ;la$%s. T%e (#st
a''allin& "at is t%at+ (#st ai!ents %a''en !ue t# s%eer i&n#rane a(#n&st
!ri,ers an! ,e%ile #wners #" )asi rules "#r In!ian r#a!s. T%ere"#re+ )etter
$n#wle!&e #" rules an! re&ulati#ns #ul! %el' e,ery#ne #n t%e r#a!s.
T%e RTO #""ie en"#res t%e law #n In!ian r#a!s+ an! t%e law t%at ,erns
t%e In!ian r#a!s are t%e "#ll#win&
T!e Mo)or Ve!ic%es Ac) 9MVA .;.2< .;1; AND .;==@ T%e law "#r
#'erati#n "#r all M#t#r e%iles in In!ia.
T!e Cen)ra% Mo)or Ve!ic%es Ru%es 9CMVR .;;2@ Rules t%at sti'ulate
,ari#us 'r#e!ures wit% re"erene t# t%e MA /2
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
Ru%es and Re,u%a)ions in re%a)ion )o Mo)or Insurance:
Drivin, Licence 9Sec)ion .2 Mo)or Ve!ic%es Ac):
An a''r#'riate !ri,in& liene is re0uire! i" y#u want t# !ri,e a (#t#r
,e%ile anyw%ere in In!ia. A !ri,er=s liene issue! )y t%e #('etent
aut%#rity #" any stateuni#n territ#ry is ,ali! t%r#u&%#ut t%e In!ian Uni#n.
Internati#nal 3ri,in& Per(it 4I3P5 an )e issue! )y any RTO #r (#t#rin&
ass#iati#ns+ li$e T%e estern In!ia Aut#(#)ile Ass#iati#n+ aut%#rise! )y
t%e G#,ern(ent. T%e 'eri#! #" ,ali!ity is #ne year. #u (ust arry y#ur
!ri,in& liene #n y#ur 'ers#n at all ti(es a '%#t##'y #" t%e !ri,in&
liene is n#t ae'ta)le.
Re,is)ra)ion> 6!ere )o *e /ade 9Sec)ion 2? o& Mo)or Ve!ic%es Ac):
Su)7et t# t%e 'r#,isi#ns #" seti#n :1+ seti#n :; an! seti#n 86+ e,ery
#wner #" a (#t#r ,e%ile s%all ause t%e ,e%ile t# )e re&istere! )y a re&isterin&
aut%#rity in w%#se 7uris!iti#n %e %as t%e resi!ene #r 'lae #" )usiness w%ere
t%e ,e%ile is n#r(ally $e't.
Re,is)ra)ion> !o6 )o *e /ade 9Sec)ion 2. o& Mo)or Ve!ic%es Ac):
An a''liati#n )y #r #n )e%al" #" t%e #wner #" a (#t#r ,e%ile "#r
re&istrati#n s%all )e in su% "#r( an! s%all )e a#('anie! )y su%
!#u(ents+ 'artiulars an! in"#r(ati#n an! s%all )e (a!e wit%in su%
'eri#! as (ay )e 'resri)e! )y t%e Central G#,ern(ent.
T%e re&isterin& aut%#rity s%all issue t# t%e #wner #" a (#t#r ,e%ile
re&istere! )y it+ a erti"iate #" re&istrati#n in su% "#r( an! #ntainin&
su% 'artiulars an! in"#r(ati#n in su% (anner as (ay )e 'resri)e! )y
t%e Central G#,ern(ent.
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In a!!iti#n t# t%e #t%er 'artiulars re0uire! t# )e inlu!e! in t%e
erti"iate #" re&istrati#n+ it s%all als# s'ei"y t%e ty'e #" t%e (#t#r
,e%ile+ %a,in& re&ar! t# t%e !esi&n #nstruti#n an! use #" it+ )y
n#ti"iati#n in t%e O""iial Gaette.
T%e re&isterin& aut%#rity s%all enter t%e 'artiulars #" t%e erti"iate in a
re&ister t# )e (aintaine! in su% "#r( as (ay )e 'resri)e! )y t%e
Central G#,ern(ent.
T%e re&isterin& aut%#rity s%all assi&n t# t%e ,e%ile+ "#r !is'lay t%ere#n+ a
!istin&uis%in& (ar$ re"erre! t# as t%e re&istrati#n (ar$ "#ll#we! )y su%
letters an! "i&ures as all#tte! t# t%e state an! !is'laye! an! s%#wn #n t%e
(#t#r ,e%ile in su% "#r( as (ay )e 'resri)e! )y t%e Central
G#,ern(ent.
A erti"iate #" re&istrati#n in res'et #" a (#t#r ,e%ile+ #t%er t%an a
trans'#rt ,e%ile s%all su)7et t# t%e 'r#,isi#ns #ntaine! in t%is At+ )e
,ali! #nly "#r a 'eri#! #" "i"teen years "r#( t%e !ate #" issue #" su%
erti"iate an! s%all )e renewa)le.
A%)era)ion in Mo)or Ve!ic%e 9Sec)ion 30 Mo)or Ve!ic%es Ac):
N# ,e%ile an )e altere! t# an e*tent t%at t%e 'artiulars #ntainin& in
t%e re&istrati#n erti"iate are n# l#n&er aurate. Be"#re !#in& any alterati#ns+
it is neessary t# %a,e 'er(issi#n #" t%e #nerne! RTO. A"ter arryin& #ut t%e
alterati#n+ t%e #wner (ust "#rwar! t%e re&istrati#n erti"iate t# t%e RTO wit%in
/: !ays+ "#r (a$in& neessary #rreti#ns.
Cance%%a)ion o& re,is)ra)ion 9Sec)ion 33 o& Mo)or Ve!ic%es Ac):
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I" a (#t#r ,e%ile %as )een !estr#ye! #r %as )een ren!ere! 'er(anently
ina'a)le #" use+ t%e #wner s%all+ wit%in "#urteen !ays #r as s##n as (ay )e+
re'#rt t%e "at t# t%e re&isterin& aut%#rity wit%in t%#se 7uris!iti#n %e %as t%e
resi!ene #r 'lae #" )usiness w%ere t%e ,e%ile.
T%e re&isterin& aut%#rity s%all+ anel t%e re&istrati#n an! t%e erti"iate #"
re&istrati#n+ #r+ i" it is n#t+ s%all "#rwar! t%e re'#rt an! t%e erti"iate #"
re&istrati#n t# t%e #ri&inal re&isterin& aut%#rity an! t%at aut%#rity s%all anel
t%e re&istrati#n.
A re&isterin& aut%#rity anellin& t%e re&istrati#n #" a (#t#r ,e%ile un!er
seti#n : #r un!er t%is seti#n s%all #((uniate su% "at in writin& t# t%e
#wner #" t%e ,e%ile+ an! t%e #wner #" t%e ,e%ile s%all "#rt%wit% surren!er
t# t%at aut%#rity t%e erti"iate #" re&istrati#n #" t%e ,e%ile.
T!e co%our sc!e/e &or Non @Transpor) ve!ic%es 9Sec)ion ..= Mo)or
Ve!ic%es Ac):
Per(anent Re&istrati#n@ %ite #n Bla$ 'late.
Te('#rary Nu()er@ Re! #n ell#w Plate.
Fany letterin&+ raise! #r s%inin& (etal nu()ers are n#t 'er(itte!. T%e 'late
s%#ul! n#t %a,e any line+ #r #l#ur+ #r any #t%er $in! #" (ar$in& #n it.
Car Re,is)ra)ion Mar- 9Ru%es 3?> 3. Cen)ra% Mo)or Ve!ic%es:
T%e re&istrati#n nu()er !is'laye! (ust #n"ir( t# "#ll#win&
s'ei"iati#ns
Letters :. ( %i&%/ ( t%i$.
Nu(erals 8 ( / ( t%i$.
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S'ae )etween letters nu(erals s%#ul! n#t )e less t%an / (.
La/ps and addi)iona% %i,!)s 9Ru%es .?3+.?=>... Cen)ra% Mo)or
Ve!ic%es Ru%es:
S'#tli&%ts+ sear% li&%ts+ "any li&%ts+ (erury la('s are e*'ressly
"#r)i!!en.
3#(e li&%ts are n#t 'er(itte! unless s'eially aut%#rise!.
A re,ersin& w%ite li&%t is 'er(itte! 'r#,i!e! t%e li&%t is !i""use! an! n#t
t## )ri&%t.
Rear Vie6 Mirror 9Ru%e .03 Cen)ra% Mo)or Ve!ic%es Ru%es:
E,ery (#t#r ,e%ile+ e*e't (#t#r yles+ (ust )e "itte! wit% a rear ,iew
(irr#r in su% a way t%at t%e !ri,er %as a lear ,isi#n #" t%e tra""i )e%in!.
orns 9Ru%e ..; Cen)ra% Mo)or Ve!ic%es Ru%es:
N# ,e%ile is all#we! t# )e "itte! wit% any (ultit#ne %#rn. >#rns 'r#!uin&
(usial n#tes+ un!uly %ars%+ l#u!+ s%rill #r alar(in& n#ises "all in t%is atery.
Tin)ed ,%asses 9Ru%e .?? Cen)ra% Mo)or Ve!ic%es Ru%es:
Tinte! &lasses #r sun #ntr#l "il(s s%#ul! n#t )e s# !ar$ as t# #)sure
lear ,isi#n.
Any (aterial t%at re"lets li&%t is als# n#t 'er(itte!. Use #" urtains t%at
#)sure lear ,isi#n is 'r#%i)ite!.
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Du)$ o& driver in case o& acciden) and inur$ )o a person 9Sec)ion .12
Mo)or Ve!ic%es Ac):
%en any 'ers#n is in7ure! #r any 'r#'erty #" a t%ir! 'arty is !a(a&e! as
a result #" an ai!ent in w%i% a (#t#r ,e%ile is in,#l,e!+ t%e !ri,er #"
t%e ,e%ile #r #t%er 'ers#n in %ar&e #" t%e ,e%ile s%all@
Unless it is n#t 'ratia)le t# !# s# #n a#unt #" (#) "ury #r any #t%er
reas#n )ey#n! %is #ntr#l+ ta$e all reas#na)le ste's t# seure (e!ial
attenti#n "#r t%e in7ure! 'ers#n+ )y #n,eyin& %i( t# t%e nearest (e!ial
'ratiti#ner #r %#s'ital i((e!iately unless t%e in7ure! 'ers#n #r %is
&uar!ian+ in ase %e is a (in#r+ !esires #t%erwise.
Gi,e #n !e(an! )y a '#lie #""ier any in"#r(ati#n re0uire! )y %i(+ #r+
i" n# '#lie is 'resent+ re'#rt t%e iru(stanes #" t%e #urrene+ i" any+
"#r n#t ta$in& reas#na)le ste's t# seure (e!ial attenti#n as re0uire!+ at
t%e nearest '#lie stati#n as s##n as '#ssi)le+ an! in any ase wit%in
twenty "#ur %#urs #" t%e #urrene.
Gi,e t%e "#ll#win& in"#r(ati#n in writin& t# t%e insurer w%# %as issue!
t%e erti"iate #" insurane+ a)#ut t%e #urrene #" t%e ini!ent na(ely
Insurane P#liy nu()er an! its 'eri#! #" ,ali!ity.
3ate+ Ti(e an! Plae #" ai!ent.
Partiulars #" t%e 'ers#ns in7ure! #r $ille! in t%e ai!ent.
Na(e #" t%e !ri,er an! 'artiulars #" %is !ri,in& liense.
Necessi)$ &or insurance a,ains) )!ird par)$ ris-s: 9Sec)ion .24 Mo)or
Ve!ic%es Ac):
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
N# 'ers#n s%all use+ e*e't as a 'assen&er #r ause #r all#w any #t%er
'ers#n t# use+ a (#t#r ,e%ile in a 'u)li 'lae unless t%ere is in "#re a '#liy
#" insurane #('lyin& wit% t%e re0uire(ents #" t%e 'r#,isi#ns #" t%e At. T%e
le&al re0uire(ent is #" Kt%ir! 'arty= insurane #nly. It is sensi)le t# %a,e a
#('re%ensi,e '#liy t%at #,ers@ t%ir! 'arty ris$+ !a(a&el#ss !ue t# ai!ent+
"ire #r t%e"t an! als# #,ers ris$s a&ainst "l##!s+ eart%0ua$e+ ri#ts an! stri$es.
Als#+ in t%e ase #" a (#t#r ,e%ile arryin& #r (eant t# arry !an&er#us #r
%aar!#us #!s t%ere s%all )e '#liy #" insurane un!er t%e Pu)li Lia)ility
At+ /22/.
Sec)ion .;4: Drivin, under ve!ic%e:
%#e,er !ri,es a (#t#r ,e%ile #r auses #r all#ws a (#t#r ,e%ile t# )e
!ri,en in #ntra,enti#n #" t%e 'r#,isi#ns #" Seti#n /:8 s%all )e 'unis%a)le
wit% i('ris#n(ent w%i% (ay e*ten! t# t%ree (#nt%s+ #r wit% "ine w%i% (ay
e*ten! t# Rs /666 #r )#t%.
Trans&er o& cer)i&ica)e o& insurance 9Sec)ion .3B o& Mo)or Ve!ic%es Ac)
.;==:
%ere a 'ers#n in w%#se "a,#ur t%e erti"iate #" insurane %as )een
issue!+ trans"ers t# an#t%er 'ers#n t%e #wners%i' #" t%e (#t#r ,e%ile+ in res'et
#" w%i% su% insurane was ta$en t#&et%er wit% t%e '#liy #" insurane relatin&
t%eret#+ t%e erti"iate #" insurane an! t%e '#liy !esri)e! in t%e erti"iate
s%all )e !ee(e! t# %a,e )een trans"erre! in "a,#ur #" t%e 'ers#n t# w%#( t%e
(#t#r ,e%ile is trans"erre! wit% e""et "r#( t%e !ate #" its trans"er. T%e
trans"eree s%all a''ly wit%in "#urteen !ays "r#( t%e !ate #" trans"er in t%e
'resri)e! "#r( t# t%e insurer "#r (a$in& neessary %an&es in t%e erti"iate
an! t%e '#liy #" insurane in re&ar! t# t%e trans"er #" insurane.
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i) and Run Mo)or Acciden)s
Seti#n /8/ t# /8; M#t#r e%iles At+ /2
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%ere !eat% %as resulte! "r#( t%e ai!ent+ )y all #r any #" t%e le&al
re'resentati,es #" t%e !eease!.
E,ery a''liati#n un!er su)@seti#n 4/5 s%all )e (a!e+ at t%e #'ti#n #" t%e
lai(ant+ eit%er t# t%e Clai(s Tri)unal %a,in& 7uris!iti#n #,er t%e area in
w%i% t%e ai!ent #urre!+ #r t# t%e Clai(s Tri)unal wit%in t%e l#al li(its #"
w%#se 7uris!iti#n t%e lai(ant resi!es #r arries #n )usiness #r wit%in t%e l#al
li(its #" w%#se 7uris!iti#n t%e !e"en!ant resi!es+ an! s%all )e in su% "#r( an!
#ntain su% 'artiulars as (ay )e 'resri)e! Pr#,i!e! t%at w%ere n# lai( "#r
#('ensati#n un!er seti#n /:6 is (a!e in su% a''liati#n+ t%e a''liati#n
s%all #ntain a se'arate state(ent t# t%at e""et i((e!iately )e"#re t%e si&nature
#" t%e a''liant.
A6ard o& )!e C%ai/s Tri*una% 9Sec)ion .4= o& Mo)or Ve!ic%es Ac):
On reei't #" an a''liati#n "#r #('ensati#n (a!e un!er seti#n /88+
t%e Clai(s Tri)unal s%all arran&e t# !eli,er #'ies #" t%e awar! t# t%e 'arties
#nerne! e*'e!iti#usly an! in any ase wit%in a 'eri#! #" "i"teen !ays "r#( t%e
!ate #" t%e awar!. %en an awar! is (a!e un!er t%is seti#n+ t%e 'ers#n w%# is
re0uire! t# 'ay any a(#unt in ter(s #" su% awar! s%all+ wit%in t%irty !ays #"
t%e !ate #" ann#unin& t%e awar! )y t%e Clai(s Tri)unal+ !e'#sit t%e entire
a(#unt awar!e! in su% (anner as t%e Clai(s Tri)unal (ay !iret.
Procedure and po6ers o& C%ai/s Tri*una%s 9Sec)ion .4; o& Mo)or
Ve!ic%es Ac):
T%e Clai(s tri)unal s%all %a,e all t%e '#wers #" a Ci,il C#urt "#r t%e 'ur'#se #"
ta$in& e,i!ene #n #at% an! #" en"#rin& t%e atten!ane #" witnesses an! #"
#('ellin& t%e !is#,ery an! 'r#!uti#n #" !#u(ents an! (aterial #)7ets an!
"#r su% #t%er 'ur'#ses as (ay )e 'resri)e!. Su)7et t# any rules t%at (ay )e(a!e in t%is )e%al"+ t%e Clai(s Tri)unal (ay "#r t%e 'ur'#se #" a!7u!iatin&
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u'#n any lai( "#r #('ensati#n+ %##se #ne #r (#re 'ers#ns '#ssessin&
s'eial $n#wle!&e #" any (atter rele,ant t# t%e in0uiry t# assist it in %#l!in& t%e
in0uiry.
Appea%s 9Sec)ion .B1 o& Mo)or Ve!ic%es Ac):
Su)7et t# t%e 'r#,isi#ns #" su)@seti#n 415 any 'ers#n a&&rie,e! )y an awar!
#" a Clai(s Tri)unal (ay+ wit%in ninety !ays "r#( t%e !ate #" t%e awar! 're"er
an a''eal t# t%e >i&% C#urt Pr#,i!e! t%at n# a''eal )y t%e 'ers#n w%# is
re0uire! t# 'ay any a(#unt in ter(s #" su% awar! s%all )e entertaine! )y t%e
>i&% C#urt unless %e %as !e'#site! wit% it twenty "i,e t%#usan! ru'ees #r "i"ty
'erent+ #" t%e a(#unt s# awar!e!+ w%i%e,er is less+ in t%e (anner !irete! )y
t%e >i&% C#urt Pr#,i!e! "urt%er t%at t%e >i&% C#urt (ay entertain t%e a''eal
a"ter t%e e*'iry #" t%e sai! 'eri#! #" ninety !ays+ i" it is satis"ie! t%at t%e
a''ellant was 're,ente! )y su""iient ause "r#( 're"errin& t%e a''eal in ti(e.
N# a''eal s%all lie a&ainst any awar! #" a Clai(s Tri)unal i" t%e a(#unt in
!is'ute in t%e a''eal is less t%an ten t%#usan! ru'ees.
Usin, ve!ic%e 6i)!ou) re,is)ra)ion 9Sec)ion .;0 Mo)or Ve!ic%es Ac):
%#e,er !ri,es a (#t#r ,e%ile #r auses #r all#ws a (#t#r ,e%ile t# )e use!
in #ntra,enti#n #" t%e 'r#,isi#ns #" seti#n ;2 s%all )e 'unis%a)le "#r t%e "irst
#""ene wit% a "ine w%i% (ay e*ten! t# "i,e t%#usan! ru'ees )ut s%all n#t )e
less t%an tw# t%#usan! ru'ees "#r a se#n! #r su)se0uent #""ene wit%
i('ris#n(ent w%i% (ay e*ten! t# #ne year #r wit% "ine w%i% (ay e*ten! t#
ten t%#usan! ru'ees )ut s%all n#t )e less t%an "i,e t%#usan! ru'ees #r wit% )#t%.
N#t%in& in t%is seti#n s%all a''ly t# t%e use #" a (#t#r ,e%ile in an e(er&eny
"#r t%e #n,eyane # 'ers#ns su""erin& "r#( si$ness #r in7uries.
Usin, ve!ic%e 6i)!ou) per/i) 9Sec)ion .;0A o& Mo)or Ve!ic%es Ac):
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
%#e,er !ri,es a (#t#r ,e%ile #r auses #r all#ws a (#t#r ,e%ile t# )e use!
in #ntra,enti#n #" t%e 'r#,isi#ns #" su)@seti#n 4/5 #" seti#n 88 #r in
#ntra,enti#n #" any #n!iti#n #" a 'er(it relatin& t# t%e r#ute #n w%i% t%e
,e%ile (ay )e use!+ s%all )e 'unis%a)le "#r t%e "irst #""ene wit% a "ine w%i%
(ay e*ten! t# "i,e t%#usan! ru'ees )ut s%all n#t )e less t%an tw# t%#usan!
ru'ees an! "#r any su)se0uent #""ene wit% i('ris#n(ent w%i% (ay e*ten! t#
#ne year )ut s%all n#t )e less t%an t%ree (#nt%s #r wit% "ine w%i% (ay e*ten!
t# ten t%#usan! ru'ees )ut s%all n#t )e less t%an "i,e t%#usan! ru'ees #r wit%
)#t%.
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COMPANY PRO(ILE
'A#A# ALLIAN GENERAL INSURANCE COMPANY LIMITED
Ba7a7 Allian General Insurane C#('any Li(ite! is a 7#int ,enture )etween
Ba7a7 Finser, Li(ite! 4reently !e(er&e! "r#( Ba7a7 Aut# Li(ite!5 an! Allian
SE. B#t% en7#y a re'utati#n #" e*'ertise+ sta)ility an! stren&t%.
Ba7a7 Allian General Insurane reei,e! t%e Insurane Re&ulat#ry an!
3e,el#'(ent Aut%#rity 4IR3A5 erti"iate #" Re&istrati#n #n 1n! May+ 166/ t#
#n!ut General Insurane )usiness 4inlu!in& >ealt% Insurane )usiness5 in
In!ia. T%e C#('any %as an aut%#rie! an! 'ai! u' a'ital #" Rs //6r#res.
Ba7a7 Finser, Li(ite! %#l!s D:9 an! t%e re(ainin& 189 is %el! )y Allian+ SE.
As #n ;/st Mar%+ 16/; Ba7a7 Allian General Insurane (aintaine! its
're(ier '#siti#n in t%e in!ustry )y a%ie,in& &r#wt% as well as 'r#"ita)ility.
Ba7a7 Allian %as (a!e a 'r#"it )e"#re ta* #" Rs.:1/Cr#res an! %as )e#(e t%e
#nly 'ri,ate insurer t# r#ss t%e Rs./66r#re (ar$ in 'r#"it )e"#re ta* in t%e lasttw# years. T%e 'r#"it a"ter ta* was Rs.12Cr#res+ /;ea! O""ie
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at Pune.
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'aa (inserv Li/i)ed
Ba7a7 Finser, Li(ite! is a %#l!in& #('any wit% )usiness interest s'rea!
ar#ss t%e "inanial ser,ies set#r. T%e C#('any is "inanial ser,ies #('any.
T%e C#('any=s t%ree $ey )usinesses inlu!e len!in& t%r#u&% Ba7a7 Finane
Lt!.+ li"e insurane+ un!er Ba7a7 Allian Li"e Insurane C#('any Lt!.+ an!
&eneral insurane+ un!er Ba7a7 Allian General Insurane C#('any Lt!. T%e
C#('any #'erates in "#ur se&(ents Insurane+ in!(ill+ Retail Finanin& an!
In,est(ents an! #t%ers. In a!!iti#n+ t%e C#('any %as win!@"ar( assets
#nsistin& #" #,er /:6win!(ills in Ma%aras%tra wit% an installe! a'aity #"
8.1(e&awatt. In a!!iti#n+ its w%#lly #wne! su)si!iary+ Ba7a7 Finanial
S#luti#ns Lt!. #""ers "inanial 'r#!uts an! a!,ises lients #n "inanial an!
wealt% (ana&e(ent.
T%e "inanial ser,ies an! win! ener&y )usinesses were trans"erre! t# Ba7a7
FinSer, Li(ite! 4BFS5 as 'art #" t%e reently #nlu!e! !e(er&er #" Ba7a7 Aut#
Li(ite!+ a''r#,e! )y t%e >#n. >i&% C#urt #" Ju!iature at B#()ay )y its #r!er
!ate! 3ee()er /
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
T%e #('any is urrently en&a&e! in li"e insurane &eneral insurane an!
#nsu(er "inane )usinesses an! %as 'lans t# e*'an! its )usiness )y #""erin& a
wi!e array #" "inanial 'r#!uts an! ser,ies in In!ia. A'art "r#( "inanial
ser,ies+ BFS is als# ati,e in win!@ener&y &enerati#n.
BFS is en&a&e! in li"e an! &eneral insurane )usinesses t%r#u&% its 7#int
,entures wit% Allian SE na(ely Ba7a7 Allian Li"e Insurane C#('any
Li(ite! an! Ba7a7 Allian General Insurane Li(ite!. B#t% t%ese #('anies
%a,e esta)lis%e! t%e(sel,es as in!ustry lea!ers )y )ein& nu()er tw# a(#n& t%e
'ri,ate 'layers in t%eir res'eti,e )usinesses.
Ba7a7 Allian Finanial 3istri)ut#rs Li(ite!+ a 66 J )etween BFSL an!
Allian SE+ is urrently en&a&e! in t%e )usiness #" !istri)uti#n #" "inanial
'r#!uts.
T%e win!@ener&y 'r#7et #" BFSL #'erates /;< win!(ills in Ma%aras%tra
wit% an installe! a'aity #" 8.1 M.
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A%%ian SE
AllianSE is a Ger(an (ultinati#nal"inanial ser,ies#('any
%ea!0uartere! in Muni%. Its #re )usiness an! "#us is insurane. As #" 16/6+ it
was t%e w#rl!?s lar&est insurane #('any+ t%e /1t%@lar&est "inanial ser,ies
&r#u' an! 1;r!@lar&est #('any a#r!in& t# a #('#site (easure
)y F#r)es(a&aine+ as well as t%e lar&est "inanial ser,ies #('any w%en
(easure! )y 16/1 re,enue.
Its Allian Gl#)al In,est#rs !i,isi#n ran$s as a t#'@"i,e &l#)al ati,e
in,est(ent (ana&er+ %a,in& /+::; )illi#n #" assets un!er (ana&e(ent4AuM5+
#" w%i% /+/;/ )illi#n are t%ir!@'arty assets 4as #" 16/6@62@;65+ wit%
s'eialie! asset (ana&ers inlu!in& PIMCO4)#n!s5+ RCM 4e0uities5 an! 3e&i
4real estate5.
Allian s#l! 3res!ner Ban$t# C#((er)an$in N#,e()er 166
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ser,ies inlu!e 'r#'erty an! asualty insurane+ li"e an! %ealt% insurane an!
asset (ana&e(ent. In 16/; it was nu()er 1 #n t%e &l#)al F#r)es 1666 list.
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MOTOR INSURANCE (ROM 'A#A# ALLIAN
%en a 'ers#n )uys a ar it is ,ery i('#rtant t# &et it insure! es'eially in a
#untry li$e In!ia w%ere r#a! ai!ents are an e,ery!ay a""air. Ba7a7 Allian
General Insurane #""ers a M#t#r Insurane '#liy w%i% &i,es t%e lient t%e
seurity %e nee!s an! at an a""#r!a)le 'rie.
T%e Ba7a7 Allian General Insurane C#('any )#asts #" !ay an! ni&%t
ser,ie "#r t%e wel"are #" t%e lient. Clai(s an )e re&istere! at any ti(e #" t%e
!ay #r ni&%t an! t%ey will )e settle! instantly in an e""iient an! 7ust (anner.
T%e M#t#r Insurane '#liy an )e 'ur%ase! #nline an! an )e renewe! in t%e
sa(e way. Ba7a7 Allian General Insurane #""ers !is#unts t# lients i" t%ey
t%r#u&% a year wit%#ut (a$in& a sin&le lai(.
T%is '#liy )ears t%e e*'enses #" any !a(a&e t%at (ay %a,e )een ause! t#
t%e ,e%ile in ase #" an ai!ent an! e,en 'r#,i!es ai! in ase t%e ar st#'s
w#r$in& #r )rea$s !#wn. It 'ays "#r t%e re'lae(ent #" 'arts+ t%e ser,iin& #"
t%e ar an! e,en "#r t%e t#win& "aility i" it is re0uire!. T%ey als# $ee' in t#u%
wit% t%eir lients an! $ee' t%e( u'!ate! #n t%e new '#liies #r t%e 'r#&ress
wit% t%eir a&ree(ent ,ia s(s. I" #ne 'ays t%e 're(iu( t%r#u&% Citi)an$ re!it
ar! t%ey are 'r#,i!e! wit% a 69 EMI #'ti#n "#r t%eir #n,eniene.
T%e M#t#r Insurane '#liy #""ere! )y Ba7a7 Allian General Insurane is a
#('re%ensi,e an! )ene"iial #ne as it 'r#,i!es t%e lient wit% a seurity t%at is
essential w%ile !ri,in& #n t%e )usy streets.
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#u rely #n y#ur ,e%ile "#r #('lete "ree!#( #" (#,e(ent. #u l#,e
ta$in& l#n& !ri,es an! #((utin& t# #""ie wit% t%e ra!i# #n. #ur ,e%ile is
#ne #" y#ur (#st i('#rtant '#ssessi#ns. Gi,e it t%e are an! 'r#teti#n it
!eser,es.
Car insurane #r tw#@w%eeler insurane )y Ba7a7 Allian 'r#,i!es
un(at%e! are an! 'r#teti#n "#r y#ur (#t#rin& e*'eriene.
%et%er it is as%less settle(ent in 're"erre! w#r$s%#'s #r 1:*D lai(s
su''#rt+ t%e insurane 'lan "#r y#ur ar an! tw#@w%eeler %as )een !esi&ne!
wit% %assle@"ree lai( settle(ent e*'eriene in (in!.
EY 'ENE(ITS O( MOTOR INSURANCE 8IT 'A#A# ALLIAN
Instant #nline '#liy issuane an!
renewal in easy ste's.
Cas%less lai(s at #,er /66 're"erre!
&ara&es. D9 #n a#unt 'ay(ent w%en
as%less "aility is n#t a,aila)le.
T# l#ate a Ba7a7 Allian?s Pre"erre!
Gara&e nearest t# y#u all at /
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T#win& "aility in an e,ent #" a )rea$!#wnai!ent 1:*D ser,ie )y
'%#ne #r #nline@e,en #n %#li!ays.
Ba7a7 Allian? 're"erre! w#r$s%#'s &i,e y#u aess t# %assle@"ree
ins'eti#n+ %i&% ser,ie stan!ar!s an! as%less settle(ent #" lai(s in
e,ent #" an ai!ent)rea$!#wn.
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TYPES O( MOTOR INSURANCE POLICIES O((ERED 'Y
'A#A# ALLIAN
CAR INSURANCE
#ur ar insurane '#liy is t%e
(#st i('#rtant !#u(ent in y#ur
,e%ile. Milli#ns #" ar #wners
ar#ss In!ia trust Ba7a7 Allian t#
insure t%eir ar. Al#n& wit%
#('re%ensi,e #,era&e a&ainst
'%ysial !a(a&e+ )#!ily in7ury an! #,er a&ainst t%ir!@'arty lia)ility+ y#ur
(#t#r insurane )rin&s t# y#u #n"i!ene an! 'eae #" (in!. All t%is is )a$e!
)y #ur su'eri#r lai(s ser,iin& a'a)ility an! "ast settle(ent re#r! "#r
,e%iles insure! )y us.
Cas%less settle(ent in #,er /66 're"erre! w#r$s%#'s
>assle "ree lai( settle(ent
ui$ an! easy #nline 'ur%ase 'r#ess
1:*D lai(s su''#rt
e$ 'ENE(ITS O( CAR INSURANCE
Our Car Insurane '#liy 'r#,i!es t%e "#ll#win& $ey )ene"its.
Get y#ur Car Insurane #r Car Insurane Renewal in easy ste's.
Cas%less lai(s at #,er /66 're"erre! &ara&es. Reei,e D9 #n a#unt
'ay(ent w%en as%less "aility is n#t a,aila)le.
Trans"er u' t# 69 #" y#ur e*istin& N# Clai( B#nus "r#( any insurane
'r#,i!er.
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A,ail #" #ur 1:*D tele'%#ni ser,ies "#r lai(s su''#rt an! #t%er
assistane+ e,en #n %#li!ays.
T#win& Faility in an e,ent #" a )rea$!#wnai!ent.
Instant Clai(s Assistane an! SMS u'!ates #n y#ur (#t#r lai( status
t%r#u&% #ur 1:*D all@enters.
Ba7a7 Allian?s 're"erre! w#r$s%#'s &i,e y#u aess t# %assle@"ree
ins'eti#n an! )rin& t# y#u %i&% ser,ie stan!ar!s.
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T8O 8EELER INSURANCE
#ur tw#@w%eeler is a)#ut "ree!#(
an! t%e Ba7a7 Allian tw#@w%eeler
insurane '#liy %as )een !esi&ne! t#
set y#u "ree. Our #('re%ensi,e tw#@
w%eeler insurane '#liy 'r#,i!es
%assle@"ree 'r#teti#n t# y#ur )i$e #r
s##ter a&ainst '%ysial !a(a&e+ t%e"t
an! t%ir! 'arty lia)ility.
Cas%less settle(ent in 're"erre! w#r$s%#'s
>assle@"ree lai( settle(ent
ui$ an! easy ste's t# 'ur%ase #nline
1:*D lai( su''#rt
EY 'ENE(ITS O( T8O 8EELER INSURANCE
Get y#ur tw#@w%eeler insurane #r insurane renewal in easy ste's.
Cas%less lai(s at #,er /66 're"erre! &ara&es. Reei,e D9 #n a#unt
'ay(ent w%en as%less "aility is n#t a,aila)le.
Trans"er u' t# 69 #" y#ur e*istin& N# Clai( B#nus "r#( any insurane
'r#,i!er.
A,ail #" #ur 1:*D tele'%#ni ser,ies "#r lai(s su''#rt an! #t%er
assistane+ e,en #n %#li!ays.
T#win& "aility in an e,ent #" a )rea$!#wnai!ent.
Instant lai(s assistane an! SMS u'!ates #n y#ur (#t#r lai( status
t%r#u&% #ur 1:*D all@enters.
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Ba7a7 Allian?s 're"erre! w#r$s%#'s &i,e y#u aess t# %assle@"ree
ins'eti#n an! )rin& t# y#u %i&% ser,ie stan!ar!s.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
LIA'ILITY ONLY INSURANCE POLICY
In #r!er t# $ee' (#,in&+ it is essential t# %a,e y#ur ,e%iles insure!. e
#,er y#ur le&al lia)ility t#war!s t%ir! 'arties "#r 'ers#nal in7ury+ !eat% an!
'r#'erty !a(a&e "r#( any ai!ent in,#l,in& y#ur ,e%iles. #ur (#t#r
insurane wit% us )rin&s t# y#u #n"i!ene an! 'eae #" (in!.
Ba7a7 Allian #""ers -Lia)ility #nly- P#liies "#r #((erial ,e%iles ar#ss
t%e ,ari#us lasses #" ,e%iles li$e #!s arryin& ,e%iles @ 'ri,ate an! 'u)li
arrier+ 'assen&er arryin& ,e%iles+ (isellane#us an! s'eial ty'es #" ,e%iles.
LIABILIT ONL POLIC TO T>IR3 PARTIES COERS T>E
FOLLOING
C#,ers t%e le&al lia)ility "#r in7ury+ !eat%+ an!#r 'r#'erty !a(a&e ause! t#
a t%ir! 'arty in t%e e,ent #" an ai!ent ause! )y #r arisin& #ut #" t%e use #" t%e
,e%ile.
/. 3eat% #r )#!ily in7ury t# a t%ir! 'arty
1. 3a(a&e t# t%ir! 'arty 'r#'erty
Pers#nal Ai!ent C#,er F#r Owner3ri,er
/. Ai!ental 3eat%
1. Per(anent T#tal 3isa)ility
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COMMERCIAL VECILE INSURANCE
In #r!er t# $ee' (#,in&+ it is essential t# %a,e y#ur ,e%iles insure!. e
#,er y#ur le&al lia)ility t#war!s t%ir! 'arties "#r 'ers#nal in7ury+ !eat% an!
'r#'erty !a(a&e "r#( any ai!ent in,#l,in& y#ur ,e%iles. #ur (#t#r
insurane wit% us )rin&s t# y#u #n"i!ene an! 'eae #" (in!.
Ba7a7 Allian #""ers -Lia)ility #nly- P#liies "#r #((erial ,e%iles ar#ss
t%e ,ari#us lasses #" ,e%iles li$e #!s arryin& ,e%iles @ 'ri,ate an! 'u)li
arrier+ 'assen&er arryin& ,e%iles+ (isellane#us an! s'eial ty'es #" ,e%iles.
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'A#A# ALLIAN MOTOR INSURANCE COVERS TE
(OLLO8ING:
Ba7a7 Allian #""ers a #('re%ensi,e #,er t%at is !esi&ne! t# #""er
'r#teti#n t# y#u an! y#ur ,e%ile. T%e #('re%ensi,e #,er #('rises #"@
. Da/a,e )o $our ve!ic%e @ T%e '#liy #,ers y#u a&ainst any l#ss #r
!a(a&e ause! t# y#ur ,e%ile #r its aess#ries !ue t# natural an!
(an(a!e ala(ities as !e"ine! in t%e s#'e #" #,era&e@
%at is #,ere! E*lusi#ns
Ai!ents e*ternal
!a(a&e
ear tear+ !e'reiati#n+ (e%anial #r eletrial
)rea$!#wn
Fire e*'l#si#n C#nse0uential l#ss
Ri#ts stri$es A ,#luntary e*ess 4i" #'te!5
Malii#us at Ot%er e*lusi#ns as 'er t%e '#liy
Bur&lary
%#use)rea$in& t%e"t
3ri,in& wit%#ut ,ali! !ri,in& liense
Transit T%e ,e%ile )ein& !ri,en )y a 'ers#n un!er t%e
in"luene #" al#%#l #r !ru&s at t%e ti(e #" t%e l#ss
Eart%0ua$e
St#r( an! "l##!
0 T!ird par)$ %e,a% %ia*i%i)$ +T%e '#liy #,ers t%e ,e%ile #wner?s le&al
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
lia)ility t# 'ay #('ensati#n "#r@
%at is #,ere! E*lusi#ns
Le&al 'r#teti#n "#r
!eat% #r in7ury lai(s
"r#( t%ir! 'arties+
inlu!in& #u'ants #"
y#ur ,e%ile
3a(a&e t# y#ur 'ers#nal 'r#'erty
C#sts an! e*'enses
inurre! wit%#ut t%e
'ri#r written #nsent
#" Ba7a7 Allian
Le&al 'r#teti#n "#r !a(a&e t# t%ir! 'arty 'r#'erty
Pers#nal ai!ent
)ene"its "#r y#u+ y#ur
'ai! !ri,er an!
#u'ants #" y#ur
,e%ile
Le&al #sts an! e*'enses
Ot%er e*lusi#ns as 'er t%e '#liy
Pr#teti#n #" y#ur le&al lia)ility t#war!s y#ur 'ai!
!ri,er
Lia)ility is #,ere! "#r an unli(ite! a(#unt wit% res'et t# !eat% #r in7ury
an! !a(a&e t# t%ir! 'arty 'r#'erty "#r u' t# Rs.D.la$%s un!er #((erial an!
'ri,ate ar an! u' t# Rs./la$% "#r tw# w%eelers.
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1 Persona% acciden) cover )o driver 9o6ner + T%e '#liy 'r#,i!es
#('uls#ry 'ers#nal ai!ent #,er "#r in!i,i!ual #wner !ri,er #" t%e ,e%ile
"#r u' t# Rs.1la$%s "#r a 're(iu( #" Rs./66.
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TREE DI((ERENT PLANS TO COOSE (ROM:
(ea)ures 'es) Va%ue 9F S)andard 9F (%e5i*%e 9F
Pre(iu( C#st L#w Re&ular En%ane!
C#,era&e L#w Re&ular En%ane!
Own 3a(a&e L#w Re&ular En%ane!
Pre(iu( 4Q5 L#w Re&ular En%ane!
Basi T%ir! Party Lia)ility 4Q5
PA@C#,er "#r Owner3ri,er 4Q5
C#,era&e "#r Eletrial aess#ries O'ti#nal O'ti#nal O'ti#nal
C#,era&e "#r N#n@Eletrial
aess#ries O'ti#nal O'ti#nal O'ti#nal
PA@C#,er "#r #@'assen&er 4Q5 O'ti#nal O'ti#nal O'ti#nal
CNG it C#,era&e O'ti#nal O'ti#nal O'ti#nal
3ri,er C#,er O'ti#nal O'ti#nal O'ti#nal
NCB 3is#unt O'ti#nal O'ti#nal O'ti#nal
#luntary 3e!uti)le @ Sa,e Pre(iu( O'ti#nal O'ti#nal
3e'reiati#n S%iel!
En&ine Pr#tet#r
1:D R#a!si!e Assistane
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VALUE ADDED SERICES
alue A!!e! Ser,ies re"ers t# a!,ane! an!#r a!!iti#nal ser,ies &i,en t#
ust#(ers.
#ur Ba7a7 Allian Car Insurane is n#t 7ust a '#liy !#u(ent. Al#n& wit%
)ein& an insurane #,er it (a$es y#ur !ri,in& a &reat e*'eriene. it% e,ery
ar insurane '#liy )#u&%t #nline+ y#u &et s#(e un(at%e! e*tra "eatures
wit%#ut any e*tra #st.
ey an! L#$ re'lae(ent #,er 4Only "#r new #nline Ba7a7 Allian
ust#(ers5
1: D s'#t assistane #,er
EEZEE Car! 4F#r Renewal Cust#(ers5
Pers#nal Care P#liy 4Only "#r S$#!a an! #l$swa&en5
DRIVE ASSURE PRIME
ES AN3 LOCS REPLACEMENT COER4ONL FOR NE ONLINE
BAJAJ ALLIANZ CUSTOMERS5
In t%e e,ent #" irre#,era)le l#ss #" $eys #" y#ur ar+ we will #,er t%e
#st #" re'lae(ent #" $eys+ su)7et t# t%e s'ei"ie! su( insure! "#r t%is#,er.
In t%e e,ent #" a seurity ris$ arisin& #ut #" t%e ini!ene #" l#st $eys #"
y#ur ,e%ile+ we will #,er t%e #st #" installin& new l#$s.
T%e )ene"its un!er t%is #,er is a,aila)le #nly #ne !urin& t%e '#liy
'eri#!.
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1:D SPOT ASSISTANCE
I" y#ur ar is i((#)ilie!+ y#u will )e entitle! "#r #ne #r (#re #" t%e
"#ll#win& )ene"its
." (%a) 'a))er$:I" y#ur ar &ets i((#)ilie! !ue t# a "lat )attery+ we will
(a$e alternati,e arran&e(ents t# (a$e y#ur ar (#)ile a&ain.
0" (ue% Assis)ance:I" y#ur ar &ets i((#)ilie! !ue t# "uel 'r#)le(s+ we
will eit%er arran&e "#r "uel su''ly #r "#r arryin& #ut re'airs.
1" Space e$s: In t%e e,ent #" y#u l#sin& t%e $eys #" y#ur ar+ we will
arran&e "#r t%e 'i$u' an! !eli,ery #" s'are $eys t# t%e s'#t w%ere y#ur
ar is l#ate!.
2" (%a) T$re:I" y#ur ar &ets i((#)ilie! !ue t# "lat tyres+ we will arran&e
"#r t%e re"ill an! #r re'lae(ent #" t%e "lat tyres.
3" Minor Repairs:I" y#ur ar &ets i((#)ilie! at t%e r#a!si!e+ we will
arran&e "#r (in#r (e%anial #r eletrial re'airs.
4" Messa,e Service:I" y#ur ar &ets i((#)ilie! as a result #" ai!ent
an!#r )rea$!#wn+ we will sen! ur&ent (essa&e #n y#ur )e%al" t# t%e
s'ei"ie! 'ers#ns t%r#u&% a,aila)le (eans #" #((uniati#n.
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B" To6in, (aci%i)$:I" y#ur ar &ets i((#)ilie! )y reas#n #" an
ai!ent)rea$!#wn+ we s%all arran&e "#r a "ree t#win& away #" y#ur ar
"r#( t%e ai!ent s'#t t# t%e nearest aut%#rie! !ealerw#r$s%#'.
=" Le,a% Advice:I" y#u (eet wit% an ai!ent w%ile tra,ellin& in y#ur ar+
y#u s%all )e entitle! "#r a "ree le&al a!,ie u' t# ;6 (inutes "r#( a le&al
a!,is#r #,er t%e '%#ne.
;" Medica% Co+ordina)ion:I" y#u (eet wit% an ai!ent w%ile tra,ellin& in
y#ur ar+ y#u an all us t# #)tain !etails re&ar!in& t%e nearest (e!ial
enter t%at an 'r#,i!e e(er&eny relie" ser,ies.
.?"Acco//oda)ion 'ene&i)s:I" y#ur ar (eets wit% an ai!ent
)rea$!#wn ta$in& 'lae )ey#n! /66 $( "r#( y#ur ity an! re'airs "#r
w%i% will ta$e (#re t%an /1 %rs+ we will 'r#,i!e %#tel a#((#!ati#n
"#r t%e #u'ants #" y#ur ar "#r a (a*i(u( #" tw# !ays an! tw# ni&%ts
li(ite! t# Rs. 1666 'er 'ers#n 'er !ay an! (a*i(u( t#tal #" Rs. /8+666
t%r#u&%#ut t%e P#liy Peri#!.
.."Ta5i 'ene&i)s: I" y#ur ar (eets wit% an ai!ent )rea$!#wn ta$in&'lae wit%in /66 $( #" y#ur ity+ we will 'r#,i!e a Ta*i #r any #t%er
trans'#rtati#n ser,ie t# trans"er t%e #u'ants #" y#ur ar t# a sin&le
!estinati#n wit%in 6 $( "r#( t%e s'#t #" i((#)iliati#n.
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AN EEEE CARD
EEZEE Car! is 'art #" t%e )ene"its y#u reei,e w%en y#u renew y#ur ar
insurane wit% Ba7a7 Allian at t%e Renewal N#tie Prie. T%e EEZEE Car!
ai(s t# #""set t%e risin& #st #" (e!ial 'r#e!ures an! treat(ent )y ena)lin&
!is#unts #n ertain (e!ial e*'enses li$e OP3+ 'at%#l#&ial in,esti&ati#ns+
selet sur&ial 'r#e!ures+ #'tial "ra(es+ lenses+ !ental are+ et. at #ur tie@u'
netw#r$ ser,ie 'r#,i!ers.
>AT 3OES AN EEZEE CAR3 3O
An EEZEE Car! (a$es y#u eli&i)le "#r a nu()er #" !is#unts at %ealt% an!
"itness entres ar#ss t%e #untry. S#(e #" t%e )ene"its 'r#,i!e! )y t%e EEZEE
Car! are
OP3 !is#unts at selet #utlets.
3is#unts #n Pat%#l#&ies at selet #utlets. 3is#unt #n Ra!i#l#&y at selet #utlets.
3is#unts #n ellness Test at selet #utlets.
Many (#re lurati,e %ealt% relate! #""ers at selet #utlets.
>ERE OU CAN USE OUR EEZEE CAR3
ari#us #utlets w%ere t%e EEZEE Car! )ene"its an )e a,aile! are
ea%)! Care
Re%i,are SRL Dia,nos)ics ellness #""er @ 169 !is#unt #n 'at%#l#&y
an! n#n@'at%#l#&y tests a''lia)le #n 'an@In!ia wellness entres.
Dr 'a)ras:C#('lete >ealt% #nsultati#n wit% #('uterie! %air test at
Rs.22 #nly an! 19 !is#unt #n treat(ents.
Den)a% Care
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Vasan Den)a% Care:C#('li(entary #nsultati#n an! *@ray+ ;69
!is#unt #n salin& an! '#lis%in&+ /69 !is#unt #n all #t%er !ental
treat(ents.
Re%i,are SRL Dia,nos)ics Den)a% O&&er:C#('li(entary #nsultati#n+
;69 !is#unt #n salin& an! '#lis%in&+ 9 !is#unt #n i('lants an!
in,isali&n #rt%#!#ntis+ /69 !is#unt #n all #t%er !ental treat(ents.
E$e Care
Lune))es E$e6ear S)udio:Free eye testin&+ "ree re'airs an! ser,ies+
"ree trial 'air #" #ntat lenses+ "ree %#(e !eli,ery+ /69 !is#unt #n
'ur%ase #" s'etales a)#,e Rs./666+ /9 !is#unt #n 'ur%ase #"
s'etales a)#,e Rs.;666+ 169 !is#unt #n 'ur%ase #" s'etales a)#,e
Rs.666+ /69 !is#unt #n sun&lasses e*e't Ray Ban+ /9 !is#unt #n
seleti,e sun&lasses.
G' Op)ica% Free eye testin&+ /69 #"" #n 'ur%ase #" "ra(es+
sun&lasses an! #ntat lenses.
La6rence and Ma$o:Free 'reisi#n eye test+ D.9 #"" #n all )ran!s.
Vision Tec! Op)ics:Free #('uterie! eye %e$@u'+ 69 !is#unt #n
"ra(e &lasses an! ;69 !is#unt #n )ran!e! 'r#!ut+ 169 !is#unt #n
#ntat lenses+ /69 !is#unt #n #ntat lens s#luti#n+ sun&lasses u' t#
Rs.:6@ "#r Rs./6@ #nly+ #l#re! #ntat lenses "#r Rs.:6@ #nly+ 69
!is#unt #n #nsultati#n wit% a""iliate! !#t#rs.
(oresi,!) Op)ica%:3is#unt #" /9 #n "ra(es an! &lasses e*lu!in&
Cartier an! M#nt Blan+ /9 !is#unt #n sun&lasses e*lu!in& Ray Ban
an! Oa$ley+ D.9 !is#unt #n #ntat lenses.
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(i)ness
(ive (i)ness:/9 !is#unt #n &y( (e()ers%i' #" a)#,e ; (#nt%s.
Lo)us C%inic u*
Lo)us C%inic u*:/69 !is#unt #n all t%e treat(ents.
NL ea%)! Care
NL ea%)! Care:u' t# :69 !is#unt #n all sur&ial e0ui'(ents an!
"itness E0ui'(ents.
Sanecare Mad!av*au, A$urved Cardiac C%inics
Sanecare Mad!av*au, A$urved Cardiac C%inics:Get "ree
#nsultati#n.
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PERSONAL CARE POLICY 9on%$ &or S-oda and Vo%-s6a,en car
o6ners
T%ey %a,e !esi&ne! a uni0ue insurane 'r#!ut (eant e*lusi,ely "#r
'ers#ns li$e y#u+ w%# %a,e 'ur%ase! a ar )y ta$in& a ar l#an "r#( a "inanial
instituti#n#('any.
T%is uni0ue 'r#!ut+ a'tly title! ?Pers#nal Care Insurane P#liy?+ will
'r#,i!e y#u wit% (ulti'le insurane )ene"its an! ensure t%at y#ur li,e li"e t# t%e
"ullest
Pers#nal Care P#liy &i,es y#u t%e )ene"it #"
Persona% Acciden) Care:C#,er "#r ai!ental !eat%+ wee$ly )ene"it in
ase #" te('#rary #r t#tal !isa)ility.
Pa$/en) Pro)ec)ion Care:C#,er "#r #utstan!in& l#an #n ar in t%e
e,ent #" ai!ental !eat% #r 'er(anent t#tal !isa)ility.
EMI Care:C#,er "#r u' t# t%ree EMIs in ase #" te('#rary t#tal
!isa)le(ent.
Medica% E5penses Care:C#,er "#r %#s'ital e*'enses arisin& "r#(
ai!ent.
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CLAIMS IN MOTOR INSURANCE
M#t#r Insurane )usiness in In!ia is &enerally #nsi!ere! t# )e an
un'r#"ita)le lass #" )usiness. In reent years+ t%e lai(s un!er (#t#r insurane
%a,e s%#wn si&ns #" !eteri#rati#n. it% t%e inrease in t%e nu()er #" ,e%iles
an! tra""i !ensity+ %i&%er #sts #" la)#ur an! s'are 'arts an! esalatin& awar!s
"#r t%ir! 'arty lai(s+ #ntr#l #" lai(s #st is i('erati,e.
T%e Insurane C#('anies in In!ia are t%ere"#re re0uire! t# 'ay t%e
#('ensati#n a(#unt t# ai!ent ,iti( #r t%e "a(ily (e()ers wit%in 26 !ays.
I" t%e insurane #('any "ails t# !# s#+ t%en t%e M#t#r Ai!ent Clai(s
Tri)unals 4MACT5 (ust i('#se a 'enalty #" Rs +666 #n su% #('anies "#r
t%e !elay. I" a"ter 26 !ays t%e insurane #('any "ails t# 'ay t%e a(#unt it s%all
)e t%e !uty #" t%e )an$er t# !e'#sit t%e %e0ue !rawn in t%e na(e #" lai(ant
wit% t%e MACT in #ne wee$ #" 26 !ays e*'iry 'eri#!.
M#st #" t%e 'e#'le 'erei,e t%at 'r#e!ure in,#l,e! in lai(in& insurane is
n#t t## #('liate! an! u()ers#(e. S(aller lai(s are 'r#esse! wit%in a
'eri#! #" tw# wee$s )ut lar&er lai(s in,#l,e (#re 'r#e!ures at t%e insurane
#('any=s #""ie an! t%us ta$e l#n&er ti(e.
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MOTOR INSURANCE CLAIM PROCESS AT 'A#A#
ALLIAN GENERAL INSURANCE COMPANY
T# re&ister an insurane lai(+ y#u nee! t# "#ll#w a si('le an! easy
'r#ess.
One y#u re&ister y#ur lai( wit% t%e T#ll Free Nu()er @ /
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
C#ntat nu()er
En&ine an! C%assis Nu()er
Ai!ent !ate an! ti(e
3esri'ti#n an! l#ati#n #" t%e ai!ent
e%ile ins'eti#n a!!ress
(. rea!in&
One t%e lai( is re&istere!+ t%e ust#(er su''#rt e*euti,e will
'r#,i!e y#u wit% a Clai( Re"erene Nu()er.
#u will )e u'!ate! t%r#u&% SMS #n e,ery sta&e #" t%e lai( OR y#u
an all an! 0u#te t%e Clai( Re"erene Nu()er t# $n#w t%e status #" y#ur
lai(
STEP 1: SURVEY AND CLAIM SETTLEMENT
3#u(ents Re0uire! Su)(it t%e #'y #" !#u(ents t# t%e &ara&e !ealer an! &et
It ,eri"ie! wit% t%e #ri&inals.
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F#r Ai!ent Clai(s
/. Clai( "#r( !uly si&ne! )y t%e insure!
1. RC #'y #" t%e ,e%ile
;. 3ri,in& liense #'y:. P#liy #'y 4"irst tw# 'a&es5
. FIR
8. Ori&inal esti(ate
D. Ori&inal re'air in,#ie+ 'ay(ent reei't 4"#r as%less &ara&e @ #nly re'air
in,#ie5
F#r T%e"t Clai(s
/. Clai( "#r( !uly si&ne! )y t%e insure!
1. RC #'y #" t%e ,e%ile wit% all #ri&inal $eys;. 3ri,in& liense #'y
:. Ori&inal '#liy #'y
. Ori&inal FIR #'y #" t%e #('lete t%e"t re'#rt
8. RTO trans"er 'a'ers !uly si&ne! al#n& wit% F#r( nu()ers 1
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!e'reiati#n ,alue+ sal,a&e et. as in"#r(e! )y t%e sur,ey#r.
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CASE STUDIES
C!an,in, Trends in Co//ercia% Ve!ic%es Insurance in India:
Swa(i 3#rai+ t%e #wner #" a trans'#rt #('any was &i,in& instruti#ns t#
#ne #" %is tru$ !ri,ers in t%e wa$e #" new &ui!elines "#r insurin& #((erial
,e%iles.
-3ri,e are"ully+ #('lete t%is tri' wit%#ut any (a7#r re'airs+- %e sai!. >is
tru$ !ri,er as$e! %i( t%e reas#n "#r t%e e('%asis #n re'airs. -F#ll#win& a
)ur&e#nin& l#ss rati#+ t%e state@run &eneral insurane #('anies are n# l#n&er
in& t# 'r#,i!e #('re%ensi,e insurane #,er t# #((erial ,e%iles 4Cs5
#,er se,en years #l!+- re'lie! 3#rai.
Insurane #('anies issue! a irular !iretin& )ran% an! !i,isi#nal #""ies
t# st#' ae'tin& #('re%ensi,e insurane '#liies "#r ,e%iles #,er se,en
years #l! "r#( 1661. A#r!in& t# t%e irular+ #((erial ,e%iles #,er se,enyears #l! will )e insure! #nly "#r t%ir!@'arty lia)ility. C#('re%ensi,e insurane
'#liy #,ers t%ir!@'arty lia)ility as well as !a(a&es su""ere! t# ,e%iles. T%e
insurane #st "#r (#t#r ,e%iles was 'erei,e! t# )e t## %i&%. 3#rai went t#
(eet ris%na Re!!y+ t%e !i,isi#nal (ana&er #" Nati#nal Insurane C#('any
w%i% %a! insure! all %is ,e%iles+ t# tal$ a)#ut t%e issue.
HAlt%#u&% t%e #('any %as n#t st#''e! insurin& #l! #((erial ,e%iles+ it
%as %an&e! t%e (#!e #" ae'tin& 're(iu(s. T%ese will %ene"#rt% )e
ae'te! #nly at lia)ility+ sai! Re!!y. C#('re%ensi,e #,er is )ein&
!is#ura&e!. >#we,er t%e !eisi#n t# 'r#,i!e #('re%ensi,e #,er %as )een
le"t t# t%e !isreti#n #" "iel! #""iers.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
T%e #)7eti,e #" re&ulati#n %as )een t# (a$e insurane a,aila)le t# all (#t#r
,e%ile #'erat#rs. T%#u&% Mr 3#rai '#ssesses #l! ,e%iles+ t%e ,e%iles are in
#! s%a'e an! t%e insurer is )ene"itin& as %is lai(s are less t%an w%at %e 'ays
as 're(iu(+ t%us %e as$e! Re!!y t# inrease t%e 're(iu( a(#unt. Re!!y t%en
t#l! 3#rai t%at ta*ies arry (#re 'assen&ers t%an 'resri)e!. In ase #"
ai!ents ausin& !eat% #r in7ury+ t%e insurane #('anies %a,e t# )ear t%e
lia)ility #" all t%e 'assen&ers+ e,en i" t%ere are (#re t%an t%e nu()ers
'resri)e!.
T%us t%e insurers (a$e %u&e l#sses as t%e lai(s e*ee! t%e a(#unt
#llete! t%r#u&% 're(iu(s. T%is is #ne reas#n w%y insurane #('anies are
!is#ura&in& t%ir! 'arty #,er an! %a,e urtaile! #((issi#n t# a&ents. T%e
#t%er reas#n is t%at t%e insurers %a,e !etete! "rau!ulent transati#ns w%ile
lai(in& !a(a&es.
So%u)ion:+T%e insurers s%#ul! n#t t# 'r#,i!e insurane "#r #((erial ,e%iles
as t%e lai(s rati# in t%e (#t#r ,e%ile insurane atery %as )een #nsistently
%i&% in t%e 'ast. It is neessary t# !e,el#' "leet sa"ety 'r#&ra(s 4)y
trans'#rters5.
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e$ %e&) in car+ )!e&) recorded on CCTV+ 6!e)!er &ir/ ri,!) )o use
-e$ in car e5c%usion )o re&use c%ai/"
Mr. > !r#,e t# t%e #unil@run ti' t# &et ri! #" an #l! ar'et. %ile %e was
!is'#sin& #" t%e ar'et+ s#(e#ne st#le %is ar. >e %a! le"t t%e $eys in t%e
i&niti#n an!+ alt%#u&% %e %a!n?t wal$e! "ar "r#( t%e ar+ %e !i! n#t %ear #r see
anyt%in& sus'ii#us. >e #nly realie! t%at %is ar was ne w%en %e turne! )a$
t#war!s w%ere %e %a! le"t it. T%e "ir( turne! !#wn Mr. >?s lai( )eause %e
%a! le"t %is $eys in t%e ar. %en it re7ete! %is #('laint a)#ut t%is+ Mr. >
a(e t# us.
Co/p%ain) reec)ed T%e "ir(?s !eisi#n n#t t# 'ay t%e lai( was )ase! #n
CCT "##ta&e t%at it #)taine! "r#( t%e #unil. T%is s%#we! Mr. > wal$in&
away "r#( %is ar wit% t%e ar'et. It als# a''eare! t%at %e %a! le"t t%e ar?s
en&ine runnin&.
e a&ree! t%at t%e "ir( %a! )een #rret in turnin& !#wn t%e lai( #n t%e
&r#un!s #" its -$eys in ar- e*lusi#n. Mr. > %a! turne! %is )a$ #n t%e ar a"ter
lea,in& it in a 'u)li 'lae an! %e was #('letely #)li,i#us t# t%e t%e"t until
a"ter it %a! %a''ene!. >e %a! wal$e! a "air way "r#( %is ar+ s# %e was unli$ely
t# %a,e )een a)le t# 're,ent t%e t%e"t.
In t%is instane+ Mr. > %a! n# e*use "#r n#t )ein& aware #" t%e '#liy
e*lusi#n. T%e "ir( %a! %i&%li&%te! it ,ery learly #n t%e '#liy erti"iate+ a!#u(ent t%at e,ery (#t#rist is re0uire! t# %a,e )y law. e t%ere"#re re7ete!
%is #('laint.
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MOTOR INSURANCE POLICIES IN BAJAJ ALLIANZ GEN. ISNURANCE CO.
ISSUES AND CALLENGES
T%e M#t#r Insurane in!ustry in In!ia %as )een in e*istene "#r a l#n& ti(e.
T%e (ar$et+ li$e #t%er insurane (ar$ets in In!ia+ %as )een !etari""e! an! t%us
!i""erent 'layers an #(e u' wit% !i""erent 'r#!uts an! n#t )e )#un! )y t%e
tari"" rules lai! !#wn )y t%e Tari"" A!,is#ry C#((ittee 4TAC5
M#t#r Insurane in In!ia in s#(e sense %as )een si(ilar as anyw%ere else in
t%e w#rl!@ t%ere %a,e )een !i""erent $in!s #" 'r#!uts )ut (ainly t%e 'r#teti#n
is t#war!s any !a(a&e su""ere! )y t%e insure!. T%is (eans t%at t%e insure!
#ul! lai( !a(a&es "r#( t%e insurane #('any a&ainst t%e #sts "#r !a(a&es
ause! !ue t# an ai!ent. Furt%er+ t%e insurane #('any als# 'r#,i!e!
inenti,es t# t%e insure! in ter(s #" HN# Clai(s 3is#unt i.e. i" t%ere was n#
lai( (a!e in a 'artiular year t%e insure! w#ul! &et a !is#unt #n t%e
're(iu( #" t%e ne*t year su)7et t# a (a*i(u( !is#unt '#ssi)le. All t%ese are
in line+ at least+ wit% t%e aut#(#)ile insurane '#liies in "#re in a nu()er #"
!e,el#'e! (ar$ets.
>#we,er+ t%ere %a,e )een !i""erenes in t%e way t%ese '#liies %a,e )een
i('le(ente! in In!ia. T%ese issues %a,e )een e*istent "#r a l#n& ti(e )ut ne,er
a(e t# t%e "#re in t%e !ays #" t%e tari"" re&i(e an! ,ern(ent #ntr#lle!
insurane (ar$et. But wit% a)#ut a !ea!e #" li)eraliati#n #" t%e insuraneset#r in In!ia an! t%e !etari""iati#n #" t%e (ar$et in reent ti(es+ s#(e #"
t%ese issues %a,e )e#(e really rele,ant an! nee!s t# )e l##$e! at wit% &reater
srutiny. S#(e #" t%e (a7#r issues are as "#ll#ws
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T!e a,e o& )!e driver and )!e a,e o& )!e drivin, %icense !ave no re%a)ion )o
)!e pre/iu/ a/oun):
T%e li$eli%##! #" an ai!ent !ue t# s'ee!in& is lin$e! t# tw# (ain "at#rs A&e #" t%e !ri,er
A&e #" t%e !ri,in& Liense
It %as )een #)ser,e! t%at y#un&er !ri,ers are (#re 'r#ne t# s'ee!in& an!
t%us %a,e a %i&%er 'r#)a)ility #" )ein& in,#l,e! in %i&% s'ee! ras%es an!
ai!ents lea!in& t# %u&e lai(s #n t%e insurane '#liies. ery #l! !ri,ers %a,e)een #)ser,e! t# %a,e %i&% 'r#)a)ility in )ein& in,#l,e! in ai!ents !ue t#
t%eir sl#wness in re"le*es #r #t%er (e!ial #n!iti#ns.
Internati#nally+ (ainly in t%e !e,el#'e! w#rl!+ t%ese #n!iti#ns are
#nsi!ere! w%ile 'riin& t%e (#t#r insurane '#liies. T%is i('lies t%at y#un&
an! new as well as #l! !ri,ers 'ay (#re in ter(s #" 're(iu(s #n t%eir (#t#rinsurane '#liies as #('are! t# (i!!le@a&e! !ri,ers wit% a relati,ely #l!
!ri,in& liene. T%is $in! #" (#,e(ent #n t%e 're(iu( ,alues is nee!e! t#
ensure t%at t%e insurane #('any is well #,ere! in ter(s #" t%e ris$s it "aes
)y sellin& t%e insurane '#liies.
>#we,er+ In!ian (ar$ets #)ser,e n#ne #" t%ese. In "at+ t%e insurane're(iu( is !e'en!ant n#t #n t%e a&e #r t%e e*'eriene #" t%e !ri,er )ut #n t%e
a&e #" t%e '#liy in 0uesti#n. T%is is n#t neessarily t%e )est strate&y+ es'eially
"r#( t%e 'ers'eti,e #" t%e (i!!le@a&e! e*'eriene! !ri,er w%# s%#ul! see a
re!uti#n in t%e 're(iu( #st )ut in e""et sees n# !i""erent "r#( s#(e#ne su%
y#un&er an! ine*'eriene!. Si(ilarly+ t%e insurane #('any is n#t
#('ensate! "#r t%e a!!iti#nal ris$s it ta$es )y insurin& #l! !ri,ers as t%e
're(iu( %ar&e! ann#t )e (#!i"ie! t# ta$e are #" su% issues.
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T!e )$pe o& )!e car !as no re%a)ion )o )!e pre/iu/ c!ar,ed:
T%is is an#t%er (a7#r issue t%at nee!s t# )e ta$le! )y t%e (#t#r insurane
in!ustry in In!ia. It is a "at t%at t%e 're(iu( #n t%e ar is !e'en!ent #n t%e sie#" t%e en&ine #" t%e ar+ )ut t%en it %as t# )e realie! t%at #t%er "at#rs als# nee!
t# )e ta$en int# #nsi!erati#n w%ile !eter(inin& t%e 're(iu( ,alue "#r t%e
insurane. F#r instane+ let=s assu(e t%at t%ere are tw# ars wit% t%e sa(e
en&ine sie. But let #ne ar )e a se!ate "a(ily ar w%ile t%e #t%er is a s'#rts ar.
O),i#usly+ t%e 're(iu( #" t%e s'#rt ar s%#ul! )e (#re@ t%at is )eause t%e
li$eli%##! #" a s'#rts ar s'ee!in& an! t%ere"#re )ein& au&%t in an ai!ent is%i&%er t%an t%at #" t%e "a(ily ar. Su% issues #r "at#rs nee! t# )e #nsi!ere!
)y t%e insurers w%ile "#r(ulatin& t%e '#liies an! !ei!in& #n t%e le,el #"
're(iu( ass#iate! wit% t%e '#liies.
T%is is s#(et%in& t%at is yet t# )e !#ne in a lar&e way in In!ia. One stan!ar!
reas#n w%y it is n#t s# 're,alent is t%e "at t%at t%ere are ,ery "ew s'#rts ars inIn!ian (ar$ets+ as #('are! t# t%e (#t#r (ar$et in any !e,el#'e! #untry.
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T!e HNo C%ai/s Discoun) po%ic$ in e&&ec) %ands up su*sidiin, )!e H'ad
Drivers a) )!e cos) o& )!e HGood Drivers:
All aut#(#)ile insurane '#liies in In!ia+ as in any #t%er 'art #" t%e w#rl!%a,e HN# Clai(s 3is#unt syste( )uilt int# t%e(. T%is is e""eti,ely use! as a
(eans #" rewar!in& HG##! 3ri,ers "#r t%e "at t%at t%ey %a,e )een #!
!ri,ers an! n#t ause! any ai!ents w%i% %as resulte! in lai(s t# )e settle!
)y t%e insurer. T%ere %a,e )een a lar&e nu()er #" stu!ies t%at %a,e )een arrie!
#ut #n t%e nee! #" su% s%e(es as well as t%e e""iay #" su% s%e(es.
%ile su% s%e(es are use"ul "#r )#t% t%e insurer 4#,er a 'eri#! #" ti(e+ t%e
a(#unt 'ai! #ut as 're(iu( !ereases5 an! t%e insure! 4%as )etter in"#r(ati#n
a)#ut t%e insurer an! %ene an 'lan )etter5+ it %as #"ten )een seen t%at t%e
s%e(es are n#t a''r#'riately !esi&ne!. %at t%is results in is t%e "at t%at t%e
)etter !ri,ers en! u' in su)si!iin& t%e n#t s# #! !ri,ers.
An e""eti,e HN# lai(s 3is#unt s%e(e s%#ul! n#t %a,e su% )iases an!
insurane #('anies s%#ul! l##$ at t%eir '#rt"#li# an! try an! ensure t%at su%
)iases !# n#t re(ain.
A '#int t%at nee!s t# )e (a!e %ere is t%e "at t%at su% )iases w#ul! )e
re(#,e! wit% t%e a,aila)ility #" )etter in"#r(ati#n a)#ut t%e !ri,in& %a)its an!
'atterns #" t%e insure! '#'ulati#n. T%is is an issue in In!ia as t%e in"#r(ati#n
t%at is a,aila)le t# t%e insurers is #nly )ase! #n t%e in"#r(ati#n rea%in& t%e(
w%en a lai( is (a!e. In lar&e nu()er #" ases+ t%e '#liy%#l!ers !# n#t (a$e
a lai( )eause t%e n# lai(s )ene"it e*ee!s t%e #st #" re'air an! t%us (a$es
sense t# &et it re'aire! wit%#ut (a$in& a re'air.
T!e HC%ai/s se))%e/en) process is rea%%$ no) co/p%e)e%$ ,eared up )o /ee)
a%% -inds o& c!a%%en,es:
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T%is %as )een t%e sin&le lar&est issue in t%e aut#(#)ile insurane set#r in
In!ia "#r a lar&e nu()er #" years. T%e )asi 'r#)le( is t%e aut%entiity #" t%e
lai( (a!e an! t%e ti(e ta$en t# settle t%e sa(e )y t%e insurane #('any.
%ile insurane #('anies %a,e (a!e si&ni"iant stri!es t#war!s t%e ti(eliness
#" t%e !is)urse(ent #" t%e ae'te! lai(s an! in lar&e nu()er #" ases t%ere
are as%less lai( settle(ent 'r#esses w%i% are in 'lae )ut all t%ese w#r$ #n
t%e 're(ise t%at t%e lai(s are ae'te! as &enuine )y t%e insurer.
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SUGGESTION AND CONCLUSION
T%e urrent state #" (#t#r insurane as 're,ailin& t#!ay an at )est )e
su((arise! as )el#w @
Insurane %as )e#(e t%e i('#rtant !ri,er "#r !ealer 'r#"ita)ility an!
ust#(er satis"ati#n.
M#t#r insurane es'eially 'ri,ate ars+ is an area w%i% all insurers want
t# !e,el#'.
C#ntinu#us inrease in #st an! %ar&es "#r la)#ur 'arts an! %i&%er
awar!s "#r t%ir! 'arty lai(s are 'us%in& t%e lai(s rati# u'.
BAJAJ ALLIANZ+ in t%e 'resent senari# is &r#win& at an a&&ressi,e
'ae. T%e #('any !#es a l#t #" sur,ey analysis in t%e (ar$et
t# !is#,er ust#(er=s nee!s e*'etati#ns tries t# i('r#,ise #n its
e*istin& (ar$et lin$e! 'lans al#n& wit% insurane '#liies. In a!!iti#n t#
t%is + t%e #('any "r#( ti(e t# ti(e $ee's #n intr#!uin& ,ari#us new
'#liies tail#r (a!e 'lans e*lusi,ely t# ater 'e#'les= "inanial nee!s.
T%is %as ena)le! BAJAJ Allian t# )e#(e (ar$et lea!er in t%e set#r #"
insurane in,est(ent #('anies sine 166/ w%en it a(e int#
e*istene