Bajaj Allianz' Marketing Strategies *

Details

Mini Case Code : CLIM032
Publication date : 2005
Subject : International Marketing
Industry : Insurance Services
Length : 04 Pages
Price : Rs. 100

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Key words:

Allianz Bajaj Life Insurance Co. Ltd., Bajaj Allianz General Insurance Co. Ltd., Bajaj Allianz Life Insurance Co. Ltd, Allianz AG (Allianz), Bajaj Auto of India (Bajaj), insurance company, joint venture, Indian insurance industry, brand recall, life and non-life group products, restructure, multi-channel distribution strategy, bancassurance, innovative products, customized product

Note

* This caselet is intended for use only in class discussions.
** More comprehensive case studies are priced at Rs.200 to Rs.700 (US $5 to US $16) per copy.

 

Abstract:

The caselet highlights the strategies that Bajaj Allianz followed to market its life and non-life insurance policies. It details the innovative insurance products offered by the company that managed to grab the attention of consumers. The caselet describes how restructuring, tie-ups with banks, etc., have improved the company's reach in the Indian insurance market.

Issues: » Marketing strategies for insurance products » How tie-ups with banks can help in boosting sales of insurance services » Importance of product innovation in insurance industry » Role of a good distribution network in marketing insurance services Introduction Allianz Bajaj Life Insurance Co. Ltd. came into existence on March 12, 2001, whereas Bajaj Allianz General Insurance Co. Ltd. was formed on May 2, 2001.

Both the organizations came into existence when the German insurance company Allianz AG (Allianz) and Bajaj Auto of India (Bajaj) came together to form a joint venture in the Indian insurance market.

Allianz of Germany is an insurance company, which was established in Berlin in 1890. Over the years, the company was able to spread its operations across 70 countries worldwide...

Questions for Discussion:

1. Do you think Allianz has chosen the right partner for a joint venture to enter the Indian insurance market? Justify your stand.

2. Do you think Bajaj Allianz has given enough importance to marketing mix? Justify your stand.