Bajaj Allianz – A Service Firm
Bajaj Allianz works in insurance sector and gives the intangible benefit of insurance (travel, health, life, motor and home).Services are based on simultaneously production and consumption of the service. The policy of insurance is issued only it has a customer. In case of Bajaj Allianz, Customer is their primary responsibility so the interaction with the customer is very high. Customer ‘s trust is the basic requirement to sustain in this type of service industry so the Bajaj Allianz started working on regular contacts with the customers via mails, sms , letters etc. Labor and Knowledge Intensive-
Surviving in this insurance business is being very close the customers. Also to develop trust among the customers Bajaj Allianz has regular meet with the customers through the employees. Customers are being contacted and they are given the available opportunities (plans) through the face to face contacts with the help of the employees. Employees are well versed with the knowledge of insurance and macroeconomic variables which can affect the policy. Before appointing a person as an Employee he is given proper training on how to behave with the customers and is given a course on the policies Bajaj Allianz they have. Along with the company’s policies employees are trained on the points of parity and points of differentiation. The core values of BA says- “Customer first always” which includes- * Treat all customers with warmth and respect
* Understand and manage customer expectations
* Listen and are empathetic to the customer
* Engage with the customer in the long term
Product Customization is done on the basis of benefits to the customers in various features. The regulatory body of India sets the limit on tax, interest rate and premiums. Based on the current market scenario the products are customized. Bajaj Allianz customizes the products in terms...