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<ul><li>Bajaj Allianz Life India’s Life Goals Preparedness Survey 2019 was designed to get a complete picture of the Life Goals that drive Indians, their aspirations, their influences, their preparedness and how they are working towards achieving these goals. </li><li>Emergence of unconventional life goals marked the findings – entrepreneurship, focus on health and fitness, aim to travel more, and giving back to society – topped the list. </li><li>The insurance company’s new campaign thus aims to change the meaning of ‘retirement’ and encourage millennials to pursue their goals whenever they want to. </li></ul>There is a shift in the way Indians are planning their lives; from simply pursuing standardised milestones such as having children, throwing a lavish wedding, retiring at the age of 60, they are branching out to unconventional Life Goals that are individualistic in nature. In order to deepen its understanding of Life Goals in India, <keyword id="151079" type="COMPANY" weightage="20" keywordseo="Bajaj-Allianz-Life-Insurance">Bajaj Allianz Life Insurance</keyword> undertook a Life Goals Survey with Kantar IMRB to learn more about this age group and their goals. The study was conducted across 13 metros, Tier I and emerging Tier-II cities and over 150 life goals were mapped. Some of the new-age Life Goals that emerged include entrepreneurship, focus on healthcare and fitness, travel, life enrichment to strengthen or re-establish the connection with ‘self’, amongst others. These goals are also enabling Indians to move past their comfort zones, experiment with life – whether it’s taking that plunge or starting up or rekindling a long-lost passion. Indians are willing to invest time and money on these goals at their early age, which presents a huge opportunity for Life Insurance companies. These new, emerging Life Goals have the power to shape the choices, actions, emotions, and investment choices of Indians. The Bajaj Allianz Life India’s Life Goals Preparedness Survey 2019 was designed to get a complete picture of the life goals driving Indians, their aspirations, their influencers, their preparedness and how they are working towards achieving these goals. Bajaj Allianz Life has seen 60% of its traffic coming from millennials and after this survey, the brand is hoping to see more millennials resonating with it. Chandramohan Mehra, CMO, Bajaj Allianz Life Insurance, said, “Some of the early indicators including our website traffic, engagement on social media pages and inbound call traffic witnessed a significant share from millennials, validating the fact that millennials are inclined towards life insurance products for fulfilling their Life Goals. They have higher preference towards brands and products who they resonate with the most.” Emergence of Unconventional Life Goals in the Survey <ul><li>Becoming an entrepreneur in early 30s: A rising life goal of Indians is being an entrepreneur, where 1 in every 10 Indian wants to start something new or pursue a parallel career -- highlighting that new-age Indians are no longer playing it safe and are willing to put in an effort and take the risks</li></ul><ul><li>More focus on planning retirement: 2 in 5 Indians have retirement related life goals; more so in metros, where every 1 in 2 people have a retirement-related life goal. Amongst Indian millennials, retirement related life goals features in the top 5 life goals, and 42% millennials consider it as their life goal. More than 1 in 4 millennials in metros aspire to retire rich by growing their wealth</li></ul><ul><li>One in three respondents cited focus on health and fitness as a life goal -- being physically and mentally fit was amongst the top 10 life goals of Indians and 1 in 2 respondents seek a balanced life, which straddles work-life balance, reliving a passion and leading a peaceful life </li></ul><ul><li>Travel is catching-up as a part of the mainstream culture; 1 in 4 respondents want to travel abroad or travel to new exotic locations</li></ul><ul><li>Philanthropy is a new-age life goal that emerged as well, clearly showcasing that Indians are keen on creating social impact. 1 in 5 respondents said one of their life goals is the need to give back to society. Philanthropic avenues included providing employment opportunities, support another’s dream or imparting knowledge through teaching</li></ul>While there is a trend that new-age Indians want to pursue unconventional life goals, certain conventional goals continue to remain on India’s mind – these include children’s education, buying their own house, or owning a luxury car. The survey reveals that these conventional goals are typically influenced by family and social circles. Although Indians are dreaming big, they remain unsure of achieving 38% of their life goals. Interestingly, metros are more under-confident than non-metros. Metros cite 48% goals as ‘unsure of achieving’, as against 29% in non-metros, revealed the study. Mehra thinks that after this study, the entire financial ecosystem has a great role to play in bridging the gap between what Indians want, what they end up doing, and how they do it. “While Indians are optimistic, they are inadequately prepared to accomplish the majority of their life goals. One of the reasons for the lack of preparedness for 'me' goals, I guess, is from the social conditioning. The 'we' goals like child education continue to take priority over unconventional Life Goals like travel or fitness,” he expounded. “To address this challenge, the solution is to deepen the understanding of the consumer, aid simplification and build relevant engagement with the category,” he adds. Inspiration Behind these Goals The consumer research findings from Bajaj Allianz Life India’s Life Goal Preparedness Survey indicated that 1 in 5 Life Goals are influenced by social media. Unconventional Life Goals including travel and health related-goals are largely driven by social media. It was also found that the impact of social media is 20% higher for millennials than non-millennials, whereas the influence of movies is 50% higher for millennials than non-millennials. Changing the Company’s Positioning Bajaj Allianz also changed its positioning to a company that is young, approachable and solutions-enabler, and through its latest campaign, the brand is challenging the common meaning of ‘retirement.’ It unveiled a 360-degree campaign that breaks a stereotypical mind-set and focuses on driving home the message that retirement need not happen later in one’s career, but can happen anytime -- all they need is a bit of planning. <keyword id="527604" type="PERSON" weightage="100" keywordseo="early-retirement">Early Retirement</keyword> Goals can be achieved is the key message of the entire campaign. The young protagonist in the video reminds the audience that now is the best time to retire as he doesn’t want to wait for tomorrow. 
 
 
 
 
 
 
 
 
 
 
 <div type="Youtube" id="L_376gLtMoQ" title="Plan your #EarlyRetirement Life Goal with Bajaj Allianz Life" thumbUrl="https://i.ytimg.com/vi/L_376gLtMoQ/mqdefault.jpg"></div>























 Telling us why the company decided to change its product’s positioning and the aim behind their new campaign, Mehra said, “We always had different kinds of retirement plans but the challenge now was – how can you build an engaging conversation on a retirement category? Generally, the younger audience does not relate to ‘retirement’ as a word. However, the definition of retirement itself is changing. It is not about someone waiting till 58. Retirement doesn’t mean you have zero income -- it is more about people wanting to pursue their passion on their own terms. You can be a photographer, a chef, or an organic farmer. Second is being able to take care of your health and spending time with your family. Since consumers echoed these sentiments in the study, we wondered if we can position our products as Early Retirements Products. Therefore, we embarked on this campaign and our aim is to capture a sentiment that resonates with millennials.” End Goals After a year into the campaign, Bajaj Allianz aims to change the meaning of retirement, erase the stigma around it, come up with relevant solutions for millennials by eliminating the middlemen, and being the ‘authentic Life Goals enabler’ that millennials can feel home at. By executing this plan, it further aims to become the ‘undisputed leader’ of the industry. “We continue to grow at a rate higher than industry on the back of strong holistic business fundamentals. We aspire to become the undisputed leader amongst non-bank promoted company in both topline and profitability,” shares Mehra.

How Bajaj Allianz Life Insurance is building its brand based on evolving millennial mindsets

New Delhi, Mar 19 () Bajaj Allianz Life has launched WhatsApp services for its policies wherein customers can access more than 20 services. Customers can message to 8806727272 from their WhatsApp number and, can avail more than 20 services on their policies, Bajaj Allianz Life said in a release on Thursday. The customers can get almost all resolutions on their policy 24 by 7 on WhatsApp through the company's AI enabled Chat Bot BOING and LIVE CHAT assistance from a service representative. "With the comprehensive list of services available, customers can resolve their issues from anywhere, and need not visit our branches or call us, as we top up this service via an engagement with our Chat Bot or customer care executive," Kayzad Hiramanek, chief - operations and customer experience, Bajaj Allianz Life said. KPM SHWSHW

Bajaj Allianz Life launches policy service on WhatsApp

<ul><li>In our latest interview series, we talk to brands to understand how they are coping with the new normal and their strategies towards navigating these difficult times.</li><li>In today’s interview, <keyword id="570499" type="PERSON" weightage="20" keywordseo="Chandramohan-Mehra">Chandramohan Mehra</keyword>, CMO, <keyword id="138574" type="PERSON" weightage="20" keywordseo="Bajaj-Allianz-Life">Bajaj Allianz Life</keyword> and Bajaj Allianz General Insurance shared how they have altered their marketing strategy to surf through the challenges posed today. </li><li>Mehra told us how the brand is using digital media at its best to connect with its consumers.</li><li>It has also on-boarded fitness experts to keep their audience motivated and remind them to build a strong immune system to survive in today’s challenging environment. </li></ul>In wake of <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID-19</keyword>, the anticipation of staying at home for a prolonged period of time may have become overwhelming. Marketers have, ergo, started listening to social media conversations, drawing insights and building their campaigns to support their customers in this journey. These unprecedented days have posed a lot of challenges and questions in our minds. People are therefore re-evaluating their financial investments, health insurance policies and have started taking good care of their health. To help its consumers adjust in this new normal, Bajaj Allianz Life has empowered its investment advisory to make pitch calls through WhatsApp, webinars, and has created video content, blogs to solve the common queries. The life insurer has also on-boarded fitness experts like Mandira Bedi and Anushka Panjwani to keep their audience motivated and remind them to maintain their physical and mental well-being. We caught up with Chandramohan Mehra, CMO, Bajaj Allianz Life and Bajaj Allianz General Insurance to further understand how they have altered their marketing strategy to stay relevant today and ask for a few things he has learned about operating in today’s volatile environment. Excerpts: Q) How have the past few weeks been for the brand, considering the country has been in a lockdown? It has been a challenging time for all of us, yet I’d say the constraints faced during the lockdown have helped us identify several opportunities. Insights gained from customers, employees and partners during this time will help us make relevant interventions in our customer experience journey. Q) What is your marketing strategy during the period of COVID-19? How have you tried to build a connection with your audience during these tough times? Through our advanced digital services including WhatsApp services, chat bot and customer self-servicing portals, our focus has been to cater to servicing needs of customers. In context of market volatility, we have intensified our investment advisory through Webinars, blogs and video content aiding long term decisions for our customers. To ensure physical and emotional well-being of our customers, we have partnered with an array of fitness experts to bring live streaming of “Fitness from Home” on our social media pages. Q) How is your brand making a difference in terms of spreading awareness? In these unusual times, we are doing our bit towards providing access to fitness regimes from experts, to our employees, partners, agents, customers and many others, for them to stay physically and emotionally healthy. Towards this, we are offering LIVE streaming sessions on Yoga, Meditation, Wellness on our social media platforms, by renowned fitness experts to keep people fit and active from the safe confines of their homes. This is in addition to the educational ‘Keep Calm, Stay Invested,’ engagement series with our investments team that provide relevant investment advisory to our customers, partners, advisors and employees to manage their investments in these times. Q) TV viewership and digital engagement continue to increase, where are you betting your money? Choice of medium is a function of the marketing task at hand. Obviously, a strategic integrated strategy will get desired yields. Q) What are the few key learnings for you as a brand custodian in the last few weeks? There is a surge of first-timers who are and will be transacting or buying online during the lockdown – be it for groceries, medicines, telecommunications or insurance. I believe this trend will continue in the insurance industry and we will see an increased usage and reliance on digital tools by both financial intermediaries and customers across profiles. As more and more stakeholders take to the digital platforms, it is essential for brands now to make the online buying experience of consumers frictionless, and sometimes even assisted in case of first-timers.

Marketing in the times of COVID-19: Bajaj Allianz Life Insurance

<ul><li>We bring to you a series of columns from industry experts, looking back at the last 10 years.</li><li>The columns will explore how the media, marketing and advertising industry has transformed in the last decade.</li><li>Tarun Chugh, MD and CEO, <keyword id="151079" type="COMPANY" weightage="20" keywordseo="Bajaj-Allianz-Life-Insurance">Bajaj Allianz Life Insurance</keyword> tries to decode evolving consumer behaviour and shares a few ways in which the BFSI sector is reaching out to them in today's digital era.</li></ul>New-age Indians are unlike their previous generations. As a demographic, India’s population is getting younger and with more exposure to the world, the demands of the younger generation are changing. This change is forcing all industries to innovate, and the shift is more visible in the insurance space than anywhere else. For instance, young people are considering life insurance not simply for protection but to achieve their life goals. Ambitions such as entrepreneurship, world travel, preventive healthcare and having a parallel career demand financial planning by young people. According to a recent survey conducted by Kantar IMRB, 2 in 5 Indians have retirement related goals and the number is even higher in the metros with every second person wishing for a comfortable retirement as one of their life goals. In fact, retirement related life goals feature in the list of top 5 life goals for Indian millennials as well. This has led to a paradigm shift in the way financial planning has been so far. Indians are now looking at planning their retirement early on in life to maintain their standard of living and achieve life goals even post retirement. There’s a lot more interest towards long term life insurance products and the appearance of new-age online ULIPs has really helped the takeoff for these products as they offer transparency and convenience. Customers’ expectations from insurance products are rapidly changing as they demand more efficient service which match their lifestyle and needs example, Digital touchpoints, self-service apps and automated payment reminders. Increasingly, the product demand is also shifting towards new-age products which can be bought and redeemed online, have more transparency and don’t tangle the customers in complex terms and conditions. It’s not hard to see that the industry is responding to these shifts comprehensively. And regulatory changes by the Insurance Regulatory Development Authority of India have also helped. For instance, IRDAI’s regular interventions have meant that products in the market are transparent and customer-friendly with more benefits than the terms and conditions attached to them. The intervention has also ensured that new products are innovative in terms of their structures and payouts rather than refurbished old schemes launched with newer names. This has led to renewal premium collections going up recently which has greatly helped affirmed people’s faith in life insurance as a product. Insurance premiums as a percentage of GDP have been steadily climbing up as it reached 3.69% in 2017 from 2.71% in 2001. Gross premiums in India reached Rs 5.53 trillion in FY18, with Rs 4.58 trillion contributed by life insurance and Rs 1.51 trillion coming from non-life insurance. Even though it’s a significant development, the penetration level at 3.69% of the total addressable population remains quite low and provides itself as an opportunity for companies to innovate and reach the last mile. The way to reaching new consumers is largely going to be phygital -- physical + digital. A recent research survey by PwC stated 47% of people research insurance online before making a buying decision as compared to 22% relying on agents. Moreover, 49% of consumers said that they prefer digital mode as their preferred channel for purchasing insurance followed by 32% who still prefer to call an agent. Interestingly, 18% of people want their insurance companies to communicate with them through emails – clearly emphasizing the increasing importance of two-way communication rather than a one-time sale model. The life insurance sector is set for a big boost with the increase in digital proliferation and customer awareness. According to the Kantar IMRB survey, Indians choose life insurance as their preferred investment option for 60% of their life goals. This is a clear signal of the latent demand in the country which the insurance industry is eager to fulfil with innovative products, tech-enabled seamless services and newer distribution channels. Further, with the right pace of technology adoption and customer-centric business processes, India’s life insurance sector is poised to be the fastest growing sector. - By Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance

How consumer behavior has evolved in the life insurance sector

<keyword id="85462" type="General" weightage="80" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> on Monday posted a 42 per cent growth in its profit to ₹1,782 crore for the quarter ended 2022, against ₹1,256 crore in the year-ago period. The company's total income was ₹21,755 crore for the reviewed quarter, against ₹17,620 crore in the corresponding period the previous year, which is a surge of 23.46 per cent. According to the statement shared with the exchanges, finance costs of the company went up to ₹3,240.78 crore from ₹2,444.53 crore. Total expenses of the firm surged 17.10 per cent to ₹17,336.45 crore from ₹14,370.55 crore in the year-ago period. The company also said profit after tax of its subsidiary - <keyword id="111876" type="General" weightage="50" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> - for the third quarter increased 40 per cent to ₹2,973 crore, against ₹2,125 crore in the year-ago period, mainly led by robust assets under management (AUM) growth. higher net interest income and better asset performance. <keyword id="6358511" type="General" weightage="100" keywordseo="bajaj" source="Orion">Bajaj</keyword> Finance (<keyword id="144840" type="General" weightage="50" keywordseo="bfl" source="Orion">BFL</keyword>)'s gross non-performing asset (NPA) and Net NPA as on December 31, 2022, stood at 1.14 per cent and 0.41 per cent, respectively, as against 1.73 per cent and 0.78 per cent as on December 31, 2021. BFL holds a management and macro-economic overlay in provisions of ₹1,000 crore as on December 31, 2022. Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. Bajaj Finserv participates in the financing business through its 52.49 per cent holding in Bajaj Finance (BFL) and in the life, general and health insurance businesses through its 74 per cent holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company Limited (BAGIC) and <keyword id="625416" type="General" weightage="50" keywordseo="bajaj-allianz-life-insurance-company-limited" source="Orion">Bajaj Allianz Life Insurance Company Limited</keyword> (BALIC). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cpp-investments-commits-205-mn-to-indospaces-new-fund-for-building-industrial-logistic-parks-in-india/articleshow/97438270.cms">CPP Investments commits $205 mn to Indospace's new fund for building industrial, logistic parks in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-subscribed-just-2-amid-allegations-by-hindenburg-research/articleshow/97437900.cms">Adani Enterprises FPO subscribed just 2% amid allegations by Hindenburg Research</a>

Bajaj Finserv posts 42% growth in Q3 net profit to ₹1,782 crore

New Delhi, Jan 29 () Bajaj Finserv on Wednesday reported a 32 per cent rise in consolidated net profit at Rs 1,126 crore in third quarter of FY20.
The company had posted a net profit of Rs 851 crore in the same period of 2018-19.
Total income rose 31 per cent at Rs 14,561 crore as against Rs 11,142 crore in year-ago period, Bajaj Finserv said in a release.
 Bajaj Finserv is the holding company for various financial services business of the Bajaj Group. 
The company holds 52.82 per cent stake in Bajaj Finance Ltd. It also holds 74 per cent stake in two unlisted insurance companies Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance.
"Economic conditions in the quarter continued to be weak with GDP growth dropping to 4.5 per cent in Q2FY20. Weak consumer demand in some pockets, unseasonal rainfall and volatile bond markets also contributed to difficult market environment for our businesses," the company said.
Even as the economic conditions remained difficult, all the three businesses of Bajaj Finserv performed well and the company has been able to record significant increase in consolidated revenue and profit after tax.
Bajaj Finserv stock closed at Rs 9,902.25 on the BSE, up 2.77 per cent over previous close. KPM RUJ
RUJ

Bajaj Finserv Q3 net profit rises 32 pc at Rs 1,126 cr

<keyword id="85462" type="General" weightage="100" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> Ltd, the holding company for the Bajaj group's financial services companies -- on Friday said it had logged an after tax profit of Rs 754.34 crore for the quarter ended September 30. The company's net profit has jumped 24% year-on-year. In a regulatory filing, the company said for the second quarter that ended September 30, it has earned a total income of Rs 1,019.07 crore (Q2FY23: Rs 689.42 crore) and a net profit of Rs 754.34 crore (Q2FY23: Rs 485.08 crore). The company's consolidated total income of the company rose 25% on-year to Rs 26,023 crore, from Rs 20,803 crore in a year ago period. During the period under review, Bajaj Finserv has booked a dividend income of Rs 953.45 crore up from Rs 635.64 crore booked during the previous year corresponding period. <h2 style="margin-bottom: 35px; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: normal; font-weight: 400; font-stretch: normal; font-size: 20px; line-height: 28px; font-family: Lora, sans-serif; color: rgb(47, 47, 47); background-color: rgb(255, 255, 255);"> </h2>The company is the holding company for Bajaj Finance Ltd, Bajaj Allianz General Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd and others. Bajaj Finserv's scrip after opening at Rs 1,570 on Friday touched a high of Rs 1,593.55 and is changing hands for about Rs 1,583.

Bajaj Finserv Q2 net profit rises 24%, revenue up 25%

Pune, Apr 24 () To strengthen the fight against COVID-19, Bajaj Finserv, its subsidiaries and group employees have contributed over Rs 10 crore to the PM CARES fund, the group said on Friday. The group collectively employs around 32,000 and the money is part of their salary. Those contributed include the employees of Bajaj Holdings &amp; Investments and Bajaj Finserv, Bajaj Finance, Bajaj Housing Finance, Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance, Bajaj Finserv Direct and Bajaj Finserv Health, the companies said in statement.The Bajaj Finserv companies have decided to match the employees contribution, thereby doubling the amount to Rs 10.15 crore. The Bajaj group had earlier pledged Rs 100 crore for the same, of which close to Rs 40 crore is already operational through various projects in multiple geographies. * * * * * * *Jubilant Group donates Rs 10 cr to PM CARES fundMumbai: Jubilant Bhartia Group, which is the master franchise of Domino's Pizza and Dunkin' Donuts, has contributed Rs 10 crore to the PM CARES Fund to help mitigate the crisis arising from the pandemic.The donation has come from two group companies, the food services arm Jubilant Foodworks and Jubilant Life Sciences. The contribution of Jubilant Life includes one day gross salary of its 5,300 employees. That apart the group has also taken several measures at the grassroots level in the areas of health &amp; safety, food &amp; ration distribution, sanitization, medical &amp; medicine, distribution of PPEs and support to the administration across various locations. * * * * * * * HCL joins TN govt in COVID fight Chennai: Tamil Nadu government has partnered with software major HCL to set up a disaster management - data analytics centre to strengthen the state's efforts in the face of the coronavirus pandemic.HCL is also helping improve and expand the state's disaster management helpline (1070) through technological upgrade, manpower assistance and effective reporting mechanisms. The centre operates a call centre which is accessible to people across the state and delivers the first level of response in any emergency. * * * * * * *Uber offers Rs 1-cr free rides to Maha COVID fighters Mumbai: Ride hailing app Uber has offered free rides to the Maharashtra government for transporting the frontline healthcare workers who are fighting the COVID pandemic. The agreement is part of Uber's global commitment to offer 10 million free rides to move what matters and UberMedic is already transporting frontline medical workers in 28 hospitals across 14 cities in the state.The free rides offer is for emergency services through the UberMedic service, which will transport frontline healthcare workers, government officials on COVID duties, and support other essential requirements. BEN MR

Bajaj Finserv Group donates over Rs 10 cr for COVID relief

(Pinki was born with a <keyword id="48915" type="UNKNOWN" weightage="100" keywordseo="Cleft-lip">cleft lip</keyword>. The picture on the left is her before the corrective surgery and the picture on the right is her after the surgery. <keyword id="1711279" type="COMPANY" weightage="100" keywordseo="Smile-Train-India">Smile Train India</keyword> assisted with her surgery as well. Image is for representational purposes only) 
 
It’s a sad reality that every year over 35,000 children are born with clefts in India and over 10 lakh children continue to live with untreated clefts and have difficulty eating, breathing and speaking. 
 The sadder part is the fact that <keyword id="128844" type="CITY" weightage="100" keywordseo="Cleft">cleft</keyword> repair surgery is not only simple but also the transformation it gives is immediate. It takes all of 45 minutes of surgery to correct this birth defect, giving people born with it a second chance at life. 
 
However, acute <a href="http://www.businessinsider.in/searchresult.cms?query=poverty&amp;sortorder=effectivedate">poverty</a> and ignorance is what prevents most of these children and their families to get these corrective surgeries. 
But not, anymore. 
 
In partnership with Smile Train India, the world’s largest cleft charity, <a href="http://www.businessinsider.in/searchresult.cms?query=bajaj&amp;sortorder=effectivedate">Bajaj</a> Finserv, successfully completed 10,000 free<a href="http://www.businessinsider.in/searchresult.cms?query=cleft&amp;sortorder=effectivedate"> cleft</a> lip and palate re-constructive surgeries for <keyword id="4989" type="UNKNOWN" weightage="100" keywordseo="underprivileged-children">underprivileged children</keyword> across India, ensuring that these kids have a reason to smile. 
 
Mamtaa Carrol, Smile Train’s Vice President and Regional Director for South Asia said, “When children born with clefts are provided the corrective surgery at the right age, they not only get a new smile and social acceptance but also the opportunity to go to school, learn a trade, get a job and become contributing members of the society. The impact of this simple surgery is both immediate and long term.” 
 With the help of 170 partner hospitals in its network, Smile Train has provided over 4,50,000 free surgeries over time.While Smile Train India has been actively involved in conducting free <keyword id="3366416" type="UNKNOWN" weightage="100" keywordseo="cleft-lip-and-palate-surgeries">cleft lip and palate surgeries</keyword> for underprivileged children who are forced to live with this congenital defect due to poverty and ignorance for some time now, Bajaj Finserv has been partnering with the charity for the last 2 years in a bid to enable children to grow up to be confident individuals and not face social stigma due to a defect that can otherwise be successfully treated. 
 
Speaking about the initiative to fund cleft surgeries, Sanjiv Bajaj, Managing Director of Bajaj Finserv said, “Following in the footsteps of the Bajaj Group, Bajaj Finserv and its subsidiaries, viz. Bajaj Finance Limited, Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited, support organizations and institutions that further the cause of social empowerment. It involves providing high quality services which are also cost effective, be it in health, education or any other field, to the weaker sections of society, without discrimination. Our partnership with Smile Train, which shares our belief in empowerment, is helping thousands of children, reach their full potential. This surgery not only provides a child with the precious gift of smile, but also a fresh opportunity for a productive and 
happy life.” 
 
It's heartening to see corporates with a big heart, going out of their way to help the poor and needy. 
 
Image credit: Indiatimes

This
company tied up with an NGO to bring smiles to 10,000 underprivileged children

New Delhi, Jan 23 () Consumer finance provider Home Credit India on Thursday announced the acquisition of corporate agency license to provide health insurance from HDFC Ergo General Insurance and life insurance from Bajaj Allianz Life Insurance Company. 
With the foray, the company now widens financial solutions under one umbrella and provides customer friendly insurance offerings and the products have been chosen based on research and insights on the needs of the customers, the company said in a statement. 
 Speaking on the tie-up, Home Credit India Chief Marketing Officer Marko Carevic said this partnership is a step towards offering holistic financial solutions to customers who are otherwise underserved. 
 These products will help in securing customers lives and enabling them with access to better medical care through the insurance products at the doorsteps of our customers, he added. HV DP MR

Home Credit gets agency licence of HDFC ERGO, Bajaj Allianz Life Insurance

New Delhi, May 21 () <keyword id="168163" type="DOMAIN" weightage="20" keywordseo="Bajaj-Finserv-Ltd">Bajaj Finserv Ltd</keyword> (BFL) on Thursday reported a plunge of 77% in its consolidated net profit to ₹194 crore for the fourth quarter ended March 2020, mainly due to the COVID-19 impact on group companies. The company had posted a net profit of ₹839 crore during the corresponding January-March period of 2018-19. Excluding the COVID-19 impact, it said the net profit during the March quarter would have been ₹1,001 crore. Its total consolidated income during the March 2020 quarter, however, increased by a little over 2% to ₹13,294 crore as against ₹12,995 crore in the corresponding period of the previous financial year, BFL said in a release. On the yearly basis, the company said it has posted the highest-ever net profit as well as total income, adding that the profit is highest-ever for the sixth consecutive time. The profit after tax in 2019-20 rose to ₹3,369 crore, against ₹3,219 crore in the year-ago period, the company said. The consolidated profit after tax, excluding the COVID-19 impact, jumped to ₹4,176 crore from ₹3,219 crore, it added. The company's consolidated total income was at a record ₹54,351 crore in 2019-20 as compared to ₹42,606 crore in 2018-19. "Even without the terrible effects of the COVID-19 pandemic, India's GDP (gross domestic product) growth had shown clear signs of slowing down," BFL said. Due to lockdown and subsequent moratorium on loan instalments, performance of banks and non-banking financial companies (NBFCs) were impacted in March, it said adding that standstill in new car sales and grace period to customers on premium payment equally impacted the life and general insurance sectors. Despite these challenges, the company has been able to record its highest-ever annual consolidated total income and profit after tax, BFL said in the release. Under the Ind-AS (Indian Accounting Standards), the insurance subsidiaries have chosen to hold equity securities as fair value through profit and loss account and, therefore, the insurance companies had an unrealised mark-to-market (MTM) pre-tax loss of ₹768 crore in the consolidated financials, the company added. "Additionally, BFL made a pre-tax provision of ₹900 crore in the form of contingency provision on account of the impact of COVID-19," it said. The MTM adjustment and the contingency provision, together considered as COVID-19 impact, after adjusting for tax and the company's interest in those subsidiaries have impacted consolidated profit after tax of BFL for the fourth quarter and 2019-20 by ₹807 crore, it added. The holding company of the financial services of the Bajaj group said it had declared an interim dividend of ₹5 per equity share (100%) on February 21 and paid on March 9. The said amount has been declared as final dividend for 2019-20. BFS holds 52.82% in <keyword id="437308" type="COMPANY" weightage="20" keywordseo="Bajaj-Finance-Ltd-">Bajaj Finance Ltd.</keyword> It also has 74% holding in unlisted subsidiaries, Bajaj Allianz General Insurance Company Ltd and Bajaj Allianz Life Insurance Co Ltd. Shares of <keyword id="85462" type="COMPANY" weightage="20" keywordseo="Bajaj-FinServ">Bajaj Finserv</keyword> on Thursday closed 3.64% down at ₹4,537.75 on the BSE.

Bajaj Finserv net profit plunges 77% to ₹194 crore in March 2020 quarter

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> is partnering with Bajaj <keyword id="6443198" type="COMPANY" weightage="20" keywordseo="allianz">Allianz</keyword> to offer protection plans on smartphones, its most popular product category. </li><li>Starting 10 October, the first day of Big Billion Days sale, customers purchasing smartphones on the platform will be given the option for signing up for an <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> plan. </li><li>The move marks the <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> company’s entry into the insurance segment as competitors Amazon and Paytm also prepare to offer their own insurance solutions to customers.</li></ul>Flipkart is pulling out all the stops for its upcoming Big Billion Days festive sale. After securing a corporate agent license from the IRDAI, India’s insurance regulator, India’s largest e-commerce platform is partnering with Bajaj Allianz’s general insurance arm to offer insurance plans on smartphones it sells. Starting 10 October, the first day of the festive sale, customers purchasing smartphones on the platform will be given the option for signing up for a protection plan. In the event that they lose or damage their phones, they can benefit from a reimbursement or free servicing. Pricing for plans, which will be operational from the day of delivery, start at ₹99/year for the lower-priced smartphones. Customers will not have to deal with Bajaj Allianz when it comes to processing claims. In fact, the entire claims process will be facilitated through the Flipkart website or app. The timing is momentous. Around 20 million Indians are expected to tune into the annual e-commerce sales extravaganza this Diwali. Onboarding just a fraction of them to the <keyword id="28168" type="TECHNOLOGY" weightage="20" keywordseo="Smartphone">smartphone</keyword> insurance plan will be a great start. The move marks the e-commerce company’s entry into the insurance segment as competitors <a href="https://www.businessinsider.in/amazon-wants-to-sells-insurance-policies-to-indians/articleshow/65856480.cms">Amazon and Paytm</a> also prepare to offer their own insurance solutions to customers. Flipkart is starting with the coverage of smartphones because it derives a bulk of its sales from this segment. It plans to expand into other higher-value segments in due time. It also plans to start offering life and general insurance policies to customers in the near future. Last month, Flipkart also started offering credit solutions to customers through its cardless credit scheme. Now, customers can avail of a credit line of upto ₹60,000 and pay for products through monthly installments. The programme is expected to turn one-time shoppers into more frequent buyers. While the loans are being underwritten by banking partners, Flipkart plans to underwrite the loans itself when it secures a non-banking financial company license.

Flipkart is entering the insurance business by covering the smartphones it sells

<ul><li>Foreign portfolio investors owned $10.5 billion worth of shares of Indian insurance companies at the end of November 2019, up from just about a billion dollars at the end of October 2018.</li><li>Losing favour with the investors are Indian tech stocks like TCS, Wipro and Mindtree where prospects are looking bleak due to slower business and shrinking margins.</li><li>Private insurance players like Bajaj Allianz Life, Kotak Life, and Tata AIA Life clocked a 25.9% growth in <keyword id="168318" type="PERSON" weightage="20" keywordseo="insurance-premium">insurance premium</keyword> in November alone</li></ul>Foreign portfolio investors (FPI) ⁠— foreign investors who invest in shares and bonds ⁠— have been net buyers in the Indian market for three straight months at the end of November 2019, pumping in a total of $3.14 billion last month alone. More than half of that money has gone into buying shares in the banking and financial services industry. The country’s insurance companies have received the lion’s share of the inflows. At the end of October 2018, foreign investors had a billion dollars invested in Indian insurance stocks. At the end of November 2019, the exposure stands at over $10.5 billion, according to a report from Edelweiss Alternative Research. A lot of that money has come from the sale of technology stocks. 
 
 
 
 
 
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 The foreign investors’ bet on Indian insurance companies seems to be the right decision. The business growth for insurance majors spiked in November 2019. Private players like Bajaj Allianz Life, Kotak Life, and Tata AIA Life clocked a 25.9% growth in insurance premium in November alone, according to a research report from Emkay Financial Services. If someone waited for the data to buy these stocks, they had already missed a big bull run. 
 
 
 
 
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 “The market is extremely positive about the insurance sector, because growth here has been extremely strong over the next 10-20 years. On paper, these stocks may look extremely highly valued, but you need to look at them in the light of an extremely long growth runway that lies ahead,” Srinivasan Subramanian, MD for Investment Banking at Axis Capital, told a television channel ET NOW. 
 
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 Here’s why foreign investors are pulling money out of IT The prospect for India’s tech stocks is looking bleak. The business is slower and the margin is shrinking, with the exception of Infosys. <table style="width: 281pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:134pt">Company</td> <td class="xl69" style="border-left-width: initial; border-left-style: none; width: 147pt;">Margin compression</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">TCS</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-57 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-40 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Mindtree</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-89 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">L&amp;T Tech</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-26 basis points</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Cognizant</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-34 basis points</td> </tr> <tr> <td class="xl67" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Infosys </td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">+21 basis points</td> </tr></tbody></table>Source: Investec Securities The troubles are far from over. “We continue to expect continued pressures on revenue leading to decelerating revenue growth and PE (price to earnings) multiple contraction driven by weakness in BFS (banking and financial services) and retail. Amongst Tier-1s, TCS saw the biggest consensus EPS downgrade while Mindtree saw the biggest downgrade among Tier-2s in the last 3 months,” Investec Securities said in its December 4 report. <table style="width: 159pt;"> </colgroup> <tbody><tr> <td class="xl69" style="height:15.0pt;width:74pt">Stock</td> <td class="xl70" style="border-left-width: initial; border-left-style: none; width: 85pt;">One year Change</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">HCL Tech</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13.01%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.97%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">TCS</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.17%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Infosys </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.74%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Wipro</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.39%</td> </tr> <tr> <td class="xl67" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Mindtree</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.98%</td> </tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/bharat-bond-etf-launch-is-the-best-tax-saving-plan-learn-how-to-buy-and-save-taxes/articleshow/72484444.cms" data-type="tilCustomLink" target="_blank">The best thing about Bharat Bond ETF is the tax benefit— especially for those in the highest income bracket</a> <a href="https://www.businessinsider.in/stock-market/news/boris-johnson-is-not-the-only-one-celebrating-a-possible-historic-majority-for-uk-conservatives-a-bunch-of-indian-stocks-are-thrilled-too/articleshow/72501071.cms" data-type="tilCustomLink" target="_blank">Boris Johnson is not the only one celebrating a historic majority for UK conservatives— a bunch of Indian stocks are thrilled too</a>

The amount of Indian insurance stocks foreign investors hold has grown ten-fold in just about a year

New Delhi, Jun 12 () IDFC First Bank on Friday said it has raised nearly Rs 2,000 crore by issuing shares on preferential basis to its promoters and various other financial services players. "The duly authorized committee of the board of directors of the bank at its meeting held today, i.e. June 12, 2020, has approved the allotment of 86,24,40,704 equity shares ...at a price of Rs 23.19 per equity share (including premium of Rs 13.19 per share), to the allottees on preferential basis," IDFC First Bank said in a regulatory filing. Promoter IDFC Financial Holding Company Ltd bought 34,49,76,282 shares, followed by ICICI Prudential Life Insurance Company Ltd which subscribed to 25,87,32,212 shares in the private sector bank. HDFC Life Insurance Company Limited, Bajaj Allianz Life Insurance Limited and Dayside Investment Ltd had allotments of 8,62,44,070 shares each. Stock of IDFC First Bank closed 4.02 per cent up at Rs 25.90 apiece on BSE. KPM ABM ABM

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