Latest news with #BajajAllianz
The Hindu
7 days ago
- Business
- The Hindu
Driving with a fake insurance policy? Here's how to check genuineness before it's too late
The story so far: Earlier this year, Telangana police uncovered two major fake vehicle insurance rackets operating out of Shamshabad and Shabad in Hyderabad. Seven unauthorised agents were arrested and several forged policies under the name of trusted insurers including Reliance General, Bajaj Allianz, HDFC Ergo, ICICI Lombard, and Tata AIG were seized. Investigations revealed that these operations had been active for at least three years, targeting thousands of commercial vehicle owners. The scam has since spread, with new cases surfacing in Devanpally, Gandhari, and Kamareddy. As demand for motor insurance grows, the problem is only deepening, with cases being reported in Tamil Nadu, Kerala, Madhya Pradesh, Rajasthan, and Gujarat. Telangana alone is reporting at least ten fake policy cases every month. Worse, experts suggest that over 50,000 counterfeit policies are already in circulation across the Telugu-speaking states. Many vehicle owners are discovering too late that their insurance policy is invalid, offering no protection in the event of an accident, injury, or claim. Why are so many individuals falling prey to fake vehicle insurance policies? In the rush to meet registration deadlines or renew lapsed policies quickly, many vehicle owners—especially commercial vehicle owners—end up trusting unauthorised agents, roadside offices, or flashy online deals. A key attraction is the promise of ultra-low premiums, which appeals to cost-conscious customers trying to meet mandatory insurance requirements without spending much. The offer: instant documentation at a bargain price. The reality: people were sold forged policy documents with no legal backing. Fraudsters take advantage of urgency, limited awareness, and misplaced trust, often issuing fake receipts and counterfeit documents that appear legitimate at first glance. How can an individual verify whether a vehicle insurance policy is genuine or not? There are several ways to verify the authenticity of a policy. The most direct approach is to visit the official website of the insurer and use the 'Policy Verification' or 'Customer Portal' feature to input the policy number or vehicle details. Most modern policies also include a QR code—scanning it with a smartphone should redirect the individual to the insurer's digital records. For full confirmation, it is advisable to contact the insurance company's official customer service via phone or email. If the policy details are not found in the insurer's database, it is a clear sign that the document is fraudulent. What warning signs should a customer look out for when buying vehicle insurance? Red flags include agents who demand cash payments, promise immediate policy issuance without any documentation, or fail to provide official receipts. Genuine insurance policies come with digital confirmation, verifiable receipts, and mandatory Know Your Customer (KYC) compliance. Payments should always be made through secure channels such as credit/debit cards, UPI, or bank transfers to ensure a traceable transaction. Avoid clicking on WhatsApp links or purchasing from unknown websites. It is advisable to ask for agent's IRDAI registration number—and verify it online if needed. What is the safest method for purchasing a vehicle insurance policy? The safest route is to purchase insurance directly from the insurer's official website or through IRDAI-authorised agents and brokers. Government websites like the IRDAI ( or the Vahan portal can help verify agent credentials and track insurance status. The customer must ensure that the policy is issued in their name with accurate KYC details, which serve as a critical legal safeguard. What are the consequences if an individual holds a fake vehicle insurance policy? Possessing a fake policy is equivalent to having no insurance at all. In the event of a road accident, the individual will not receive any compensation for vehicle damage, medical expenses or liability coverage if someone else is hurt. In severe cases involving injury or death, the absence of a valid insurance policy can lead to prolonged legal battles, financial hardship, or even criminal charges for driving without valid insurance. What steps should be taken if someone discovers that their policy is fraudulent? Immediate action is the key. The individual should immediately contact the insurer for verification and report the issue to IRDAI's grievance redressal system and the local police or cybercrime cell. It is also important to inform the Regional Transport Office (RTO) if the policy was used for registration. All payment receipts and communication with the agent should be retained to support legal proceedings or refund claims. What are insurance companies doing to tackle fake vehicle insurance policies? To combat rising fraud, insurers have ramped up their fraud detection systems, including the introduction of QR codes on policies and KYC verification via mobile number for quick authenticity checks. Customers can also verify their policies via dedicated online portals by entering the policy number. Companies are collaborating with RTOs and local police to fast-track fraud detection and case resolution, while also conducting awareness drives. Regular email alerts and educational resources are also being sent to policyholders to highlight red flags and provide fraud prevention tips.
Hindustan Times
22-07-2025
- Automotive
- Hindustan Times
Eco Assure Add-On by Bajaj Allianz: A Sustainable Twist to Traditional Moto
Eco Assure Add-On by Bajaj Allianz: A Sustainable Twist to Traditional Motor Insurance In an age where sustainability is no longer a choice but a necessity, the automobile industry is steadily evolving to match the global shift toward greener practices. While electric and hybrid vehicles are taking the centre stage, another area witnessing a green transformation is motor insurance. Bajaj Allianz General Insurance is leading the way with its innovative Eco Assure Add-On, a feature that blends environmental responsibility with premium car protection. This blog is about how the Bajaj Allianz Eco Assure add-on is reshaping traditional car insurance, encouraging eco-conscious behaviour while ensuring top-tier service and coverage. What is the Bajaj Allianz Eco Assure Add-On? The Eco Assure Add-On is an optional benefit that can be clubbed with your standard car insurance policy. Designed with sustainability in mind, this offering promotes environment-friendly vehicle repairs without compromising on safety, efficiency, or service quality. Whether you're driving a fuel-based car or a hybrid model, Eco Assure aims to reduce your carbon footprint by using refurbished parts, recycling wherever possible, and promoting greener repair methods. It's not just about being environmentally responsible—this add-on also enhances your car insurance experience with cost-saving benefits and service perks that make owning and maintaining a car simpler and more sustainable. Key Benefits of Bajaj Allianz Eco Assure Here are the standout benefits that make Bajaj Allianz Eco Assure more than just an ordinary add-on: Value for MOney, No Compromise on Safety Eco Assure ensures that all repairs are performed with the highest safety standards in mind. While it encourages the use of refurbished parts to reduce environmental damage, safety is never sacrificed. You enjoy quality repairs without hefty expenses. No Compulsory Deductible Unlike some add-ons that come with mandatory deductibles, the Eco Assure cover gives you complete financial peace of mind by waiving off this condition. You don't have to worry about out-of-pocket expenses beyond your standard policy norms. One-Year Repair Protection Once your vehicle is repaired under the Eco Assure umbrella, Bajaj Allianz offers one-year repair protection, which acts as a reassurance for quality and durability. It means confidence in workmanship and parts, even when they're refurbished. Convenient Pick-up and Drop-off Your time and convenience matter. The add-on includes hassle-free pick-up and drop-off of your insured car to and from the preferred workshops, saving you time and unnecessary stress. Repairs Without Depreciation Cost One of the biggest pain points in regular car insurance claims is the depreciation deduction on parts. With Eco Assure, this concern is wiped out. You get full value repairs at preferred workshops without any depreciation cutbacks. Green Environment Certificate As a gesture of encouragement, customers who choose eco-friendly repair methods receive a Green Environment Certificate, a tangible testament to your sustainable choice. Additional Coverages You Can Avail Apart from the main features of Bajaj Allianz Eco Assure, you also benefit from a variety of other protective covers when you opt for the complete suite of add-ons: 24x7 Spot Assistance Engine and Gearbox Protection Electric and Hybrid Vehicle Care Consumables Coverage Rodent Damage Cover Fuel Adulteration Damage Defence Cost Coverage (up to ₹ 50,000) 50,000) Keys and Locks Replacement (up to ₹ 50,000) 50,000) Personal Baggage Protection (up to ₹ 50,000) These optional covers make your car insurance package more comprehensive, ensuring you're shielded from minor inconveniences and major financial hits alike. How Does Eco Assure Work in Real Scenarios? Let's say you've had a minor accident, and your car requires parts replacement. Under the Eco Assure Add-On, here's how things might play out: Step 1: Assessment of Repair Options The insurer checks whether refurbished parts are available for the repair. Step 2: Based on Availability If refurbished parts are available, they are used for the repair, saving cost and reducing environmental waste. If they are not available, the insurer shifts to new parts. Step 3: Payment Conditions You pay the difference between refurbished and new part costs only if you choose new parts when refurbished ones are available. This simple process ensures that eco-friendly choices are always presented first, and cost-effective too. Special Focus on Electric and Hybrid Vehicles In line with India's push toward electric mobility, Bajaj Allianz has also included special care for electric and hybrid vehicles under this initiative. The Eco Assure Add-On, combined with related protection covers, gives EV owners better value and greener repair options that align with their eco-conscious vehicle choice. Policy Terms and Conditions to Know Before you opt in for the Eco Assure Add-On, here are some important terms to consider: Mid-term addition or removal of the Eco Assure cover is not allowed. In case of Total Loss or Constructive Total Loss, the valuation will depend on the type of parts used. All claims are subject to the general terms and conditions of the motor insurance policy. Always read the complete sales brochure or consult with a Bajaj Allianz representative to understand your eligibility and policy fit. Why Eco Assure Matters for a Greener Tomorrow? The Eco Assure Add-On isn't just about protecting your car, it's about preserving our planet. By encouraging the use of refurbished parts and minimising waste, this offering reflects the shift we must make as responsible vehicle owners and citizens. Choosing such an add-on is more than a financial decision, it's a lifestyle choice. You're not only getting enhanced car insurance protection but also supporting sustainable practices that reduce automotive waste, emissions, and costs. In Conclusion If you're a car owner looking for smarter, greener ways to safeguard your vehicle, then the Bajaj Allianz Eco Assure add-on deserves your attention. It adds a much-needed eco-conscious dimension to the otherwise traditional car insurance experience. From zero depreciation on repairs to one-year protection and sustainability incentives, this add-on ticks all the right boxes. So, the next time you renew your motor insurance, think green, think Eco Assure by Bajaj Allianz. After all, protecting your car shouldn't come at the cost of the environment. Disclaimer: This article is sponsored content curated by HT Syndication. The inputs and details accounted for in the article do not necessarily reflect those of HT, and HT does not endorse or assume any responsibility for the information provided. Want to get your story featured as above? click here! First Published Date: 22 Jul 2025, 14:32 pm IST
NDTV
16-07-2025
- Automotive
- NDTV
Insurers In India Race To Tie Up With Tesla Amid EV Boom
New Delhi: Elon Musk's electric vehicle (EV) giant has come to India, but a bigger question that people are asking is who will be the insurance provider for the American auto maker? Acko has been named as Tesla's preferred insurer in India, sources said. Bajaj Allianz and ICICI Lombard, however, are also hot in the race to get into tie-ups with Tesla for insurance for their India vehicles, people with direct knowledge of the matter said. The talks are in early stages and no terms have been finalised yet, they said, adding the insurers are pitching for non-exclusive tie-ups with Tesla. The decision will depend on Tesla's insurance department working out of the company's Hong Kong or Singapore offices, sources in the EV maker said. Tesla will need to get a motor insurance service provider licence from the Insurance Regulatory and Development Authority of India (IRDAI), which will take some months, sources said. It is only after Tesla gets the licence that it will be able to sign proper tie-ups with insurance firms, they said. Comments from Bajaj Allianz and ICICI Lombard are awaited. Tesla made its much-awaited entry into India on Tuesday with the launch of its Model Y at a starting price of Rs 59.89 lakh. The company's first experience centre is in Mumbai. The Model Y will be imported to India as completely built units (CBU) from its manufacturing facility in China's Shanghai. The mid-sized electric SUV Model Y will be offered in India in two variants -- rear wheel drive with base price at Rs 59.89 lakh, and long-range rear wheel drive at a base price of Rs 67.89 lakh. The deliveries are likely to begin in the third and fourth quarter of 2025, respectively, for the two variants. Initially, registration and delivery will start in Delhi, Mumbai, and Gurugram, the company said, adding that through its Tesla Design Studio, customers will be able to customise their Model Y exterior, interior, and even its features.
Business Standard
19-06-2025
- Business
- Business Standard
Bajaj Allianz Launches State-Wise Health Insurance Policies Tailored to Regional Needs
PNN Pune (Maharashtra) [India], June 19: Bajaj Allianz General Insurance, one of India's leading private general insurers, has unveiled a pioneering initiative -- the 'State-wise Health Insurance Policy', a first-of-its-kind health insurance product thoughtfully tailored to address the distinct healthcare realities of each Indian state. More than just another health plan, this product reflects the company's commitment to making quality healthcare truly accessible. Recognising that healthcare needs, treatment availability, and medical costs vary significantly across regions, these policies are customised to align with each state's unique healthcare ecosystem. By factoring in local hospital infrastructure, prevalent health concerns, and affordability levels, Bajaj Allianz has created coverage that goes beyond the traditional one-size-fits-all model, delivering protection that is as personalised as it is practical. Designed with both affordability and accessibility at its core, the State-wise Health Insurance Policy offers comprehensive coverage with premiums customised to reflect each state's specific healthcare dynamics. Available in both individual and floater variants, it serves as an ideal solution for individuals and families alike. With flexible sum insured options ranging from INR 5 lakh to INR 20 lakh, the policy ensures that everyone, from young professionals to senior citizens, can find a coverage plan that aligns with their unique healthcare needs and financial priorities. These health insurance plans offer extensive coverage, including inpatient hospitalisation, pre- and post-hospitalisation expenses, and day care procedures. They also cover advanced treatments such as robotic surgeries and stem cell therapy, ensuring policyholders receive access to modern medical care. The policy includes organ donor expenses as part of the base cover, alleviating the financial burden associated with life-saving transplants. With a lifetime renewal option, the policy guarantees continuous coverage without age restrictions, providing long-term security for individuals and families. To further enhance protection, the plan offers a variety of optional add-ons. The Unlimited Sum Insured Reinstatement feature enables policyholders to restore their sum insured an unlimited number of times within a policy period after making a claim, providing additional security and uninterrupted financial support during medical emergencies. That's not it; the Super Cumulative Bonus rewards customers with up to 200% sum insured for claim-free years, enhancing coverage year after year. For those opting for cashless claims, the Cashless Discount reduces premiums, making the policy even more cost-effective. Additionally, the Accidental Death Cover provides financial security to families in the unfortunate event of a policyholder's accidental demise. Together, these features make the state-wise health insurance policy a comprehensive and customisable solution designed to meet the distinct healthcare needs of citizens across India. These customised product offerings have been rolled out across 25 states and 5 Union Territories, each designed to address the specific healthcare needs of its region. To truly resonate with people across regions, each policy carries a unique name inspired by the local language and cultural context of the state it represents. For example, in states where Hindi is the predominant language, the product is being called "AapKe Liye". Speaking on the launch, Dr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, "India's diversity is its greatest strength, and healthcare needs are no exception. With these state-wise health insurance policies--Insurance made for you--we are redefining health insurance by tailoring it to each state's unique medical ecosystem. From treatment costs to disease patterns, healthcare challenges vary across regions, and insurance must evolve to reflect this reality. By offering affordable, feature-rich coverage designed for every Indian, we are making health financial security accessible, relevant, and truly personal. We believe that healthcare security should not be a privilege but a right for every Indian, and this initiative is a step towards making that a reality." To make these policies even more accessible, Bajaj Allianz offers special discounts for family coverage, loyalty benefits, and direct online purchases. The policy also promotes a healthier lifestyle by offering a wellness discount at renewal. To qualify for a 5% discount, customers need to achieve 7,500 steps daily for at least 24 days each month over a minimum of 9 months. If they raise their daily goal to 10,000 steps, they become eligible for a 10% discount. This product also includes an innovative feature called the Festive Bonus. In the event of emergency hospitalisation due to acute illness or accidental injury during a festival week in a policyholder's state, policyholders receive an additional INR 1,000 per day of hospitalisation, up to 10 days in a policy year. Customers can easily purchase these state-wise policies through Bajaj Allianz General Insurance's extensive network of branches, partner banks, agents, and digital platforms. It is also available online at or and via the Bajaj Allianz 'Caringly Yours' mobile app. With the launch of this initiative, Bajaj Allianz is setting a new benchmark in health insurance by making coverage more personal, relevant, and beneficial for every region. By focusing on affordability, state-specific pricing, and comprehensive protection, Bajaj Allianz ensures that everyone in the country can secure the best healthcare coverage without financial strain. About Bajaj Allianz General Insurance Bajaj Allianz General Insurance stands as India's premier private general insurance company. It is a collaborative effort between Bajaj Finserv Limited, India's most diversified non-bank financial institution, and Allianz SE, the world's leading insurer and largest asset manager. Bajaj Allianz General Insurance provides a wide range of general insurance products, including motor insurance, home insurance, and health insurance, along with distinctive insurance offerings like coverage for pet insurance, weddings, events, cybersecurity, and the film industry. The company commenced its operations in 2001 and has consistently expanded its reach to be in close proximity to its customers. Presently, it maintains a presence in nearly 1,500 towns and cities across India. Notably, Bajaj Allianz General Insurance holds the issuer rating of [ICRA]AAA from ICRA Limited, signifying the highest level of assurance regarding the punctual fulfilment of financial commitments. Annexure: 1. J & K -Tuhund Khatir 2. Himachal Pradesh -AapKe Liye 3. Uttarakhand -AapKe Liye 4. Punjab- Tuhade Lai 5. Uttar Pradesh -AapKe Liye 6. Bihar -AapKe Liye 7. Jharkhand -AapKe Liye 8. West Bengal -Apnar Jonyo 9. Tripura- Apnar Jonyo 10. Mizoram- I tan 11. Assam -Aponar Babe 12. Nagaland -Opuni Karoni 13. Manipur -Adomgidamak 14. Sikkim -Tapainko Lagi 15 Arunachal Pradesh -AapKe Liye 16. Meghalaya- Na Ka bynta jong phi 17. Odisha- Apananka Pain 18. Chhattisgarh- AapKe Liye 19. Madhya Pradesh -AapKe Liye 20. Rajasthan -AapKe Liye 21. Kerala -Ningalkkayi 22. Tamilnadu -Ungalukkaga 23. Karnataka- Nimagagi 24. Telangana -Mee Kosam 25. Andhra Pradesh -Mee Kosam 26. Puducherry -Ungalukkaga 27. Andaman & Nicobar -AapKe Liye 28. Goa- Tujya Khatir 29. Lakshadweep- Ningalkkayi 30. Ladakh- Khyed kyi ched du
Yahoo
18-06-2025
- Business
- Yahoo
HSBC Gains 18.3% So Far This Year: How to Play the Stock?
HSBC Holdings plc HSBC shares have gained 18.3% so far this year, outperforming the S&P 500 Index's 1.2% rise. While the stock has underperformed its industry's growth of 22.2%, it has performed better than its peers, UBS Group AG UBS and Mitsubishi UFJ Financial Group, Inc. MUFG. The UBS stock has gained 4.2%, whereas shares of MUFG have rallied 14.2% in the same time frame. Image Source: Zacks Investment Research Does the HSBC stock have more upside left despite showing recent strength in share price? Let us find out. Asia Expansion Strategy: HSBC has consistently undertaken measures to enhance its performance, with a focus on building operations in Asia. The company aims to become a top bank for high-net-worth and ultra-high-net-worth clients in the region. Over half of its business is now centered in India, HSBC re-launched its private banking business and obtained approval to open bank branches in 20 new cities. Last year, the company announced a partnership with Bajaj Allianz General Insurance in India to bolster its insurance solutions mainland China, HSBC is growing its wealth business through lifestyle-focused centers, acquisitions like Citigroup's retail wealth arm, digital upgrades and talent has acquired 100% of the issued share capital of AXA Insurance in Singapore and L&T Investment Management initiatives are expected to help HSBC strengthen its position in the Asia markets, thus aiding bottom-line Efforts: HSBC has been engaged in restructuring efforts to enhance operational efficiency. In October 2024, the company announced an initiative to streamline its organizational structure, which became effective on Jan. 1, 2025. HSBC aims to achieve $1.5 billion of annualized savings by company will likely incur $1.8 billion in total severance and other upfront charges by the end of next year to execute its business simplification efforts. It also plans to reallocate an additional $1.5 billion of costs from non-strategic activities to priority growth areas over the medium is winding down its mergers and acquisitions and equity capital markets operations in the U.K., Europe and the United States, while maintaining a more focused presence in Asia and the Middle East. It is also progressing with divestments in Germany, South Africa, Bahrain and France, and has begun a strategic review of its business in from these, HSBC completed the sale of its businesses in the United States, Canada, New Zealand, Greece, Russia, Argentina and Armenia, as well as the retail banking operations in France and Capital Position: Despite the uncertain macroeconomic environment, HSBC's capital position remains solid. As of March 31, 2025, the company's capital ratios were strong, driven by steady capital the solid capital position and lower debt-equity ratio than the industry, the company has been rewarding its shareholders consistently. In 2024, HSBC returned $26.9 billion to shareholders through dividends and repurchases. The company expects a dividend payout ratio of 50% for 2025. Further, it intends to initiate a share repurchase program of up to $3 billion, which will likely be completed by July 30, 2025. Rising Expense Base: Over the years, HSBC has undertaken several measures to improve efficiency by divesting/closing non-core businesses. Driven by these efforts, the bank was able to control expenses in the operating expenses increased in 2024. Costs are expected to remain high in the near term, given the company's focus on growing market share in the U.K. and Asia, as well as strengthening digital capabilities globally. HSBC expects target-based operating expenses to increase 3% in Revenue Growth: Revenue generation at HSBC has been subdued over the past several quarters. While the interest rate environment across the world has improved, the financial impacts of the challenging macroeconomic backdrop continue to weigh on the company's top-line revenues were stable in 2024 and increased in 2023, the metric recorded a negative compound annual growth rate of 2.7% over the three years ended 2022. Not-so-impressive loan demand and a tough macroeconomic environment in many of its markets are major headwinds. Image Source: Zacks Investment Research Supported by its business simplification efforts, along with a strong capital position and a solid global network, HSBC is well-positioned for growth. The company's efforts to expand in Asia will aid profitability in the near term. Image Source: Zacks Investment Research Image Source: Zacks Investment Research However, rising operating expenses amid growth initiatives will likely hurt HSBC's bottom line. Muted revenues, in light of subdued loan demand and a challenging operating backdrop, remains another investors should not rush to buy the HSBC stock now; instead, they should keep this Zacks Rank #3 (Hold) stock on their radars and wait for an attractive entry point. Those who already own the HSBC stock in their portfolio can hold on to it because it is less likely to disappoint over the long term, given its business simplification efforts and Asia expansion can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UBS Group AG (UBS) : Free Stock Analysis Report HSBC Holdings plc (HSBC) : Free Stock Analysis Report Mitsubishi UFJ Financial Group, Inc. (MUFG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
