Bajaj Finserv moves as its arm launches ‘Sarvatra Bima’ to bring insurance to door-steps of rural India

Bajaj Finserv is currently trading at Rs. 1561.00, up by 2.00 points or 0.13% from its previous closing of Rs. 1559.00 on the BSE.

The scrip opened at Rs. 1570.00 and has touched a high and low of Rs. 1575.90 and Rs. 1551.70 respectively. So far 20011 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1813.45 on 07-Nov-2022 and a 52 week low of Rs. 1216.10 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1650.80 and Rs. 1551.70 respectively. The current market cap of the company is Rs. 248752.66 crore.

The promoters holding in the company stood at 60.69%, while Institutions and Non-Institutions held 14.76% and 24.56% respectively.

Bajaj Finserv’s insurance subsidiary -- Bajaj Allianz General Insurance Company has launched its ‘Sarvatra Bima’ initiative. This pioneering initiative aims to bridge the insurance accessibility and service gap in tier 2 and tier 3 regions of India. It aligns with the company's ‘Har Ghar BAGIC’ mission aimed at reaching insurance products and associated services to every household in the country. Under the ‘Sarvatra Bima’ initiative, a fully functional and equipped van has been mobilized which has been flagged off from Bajaj Allianz General Insurance’s office premises.

The van will reach Kolhapur and will further traverse regions across the Western belt of Maharashtra, connecting with more than 3,500 villages across over 30 Tehsils in these regions. Through this initiative, the company aims to provide the customers of these regions with a comprehensive suite of insurance solutions encompassing health, motor, property, agri, and liability all within arm’s reach. 

The ‘Sarvatra Bima’ initiative aims to establish the company’s tangible presence in tier 2 and tier 3 regions in the country and provide a one-stop solution, where the people will be able to seamlessly fulfill all their insurance-related service requirements. The range of services available includes policy issuance, expert claim assistance, walk-in customer services, and video-based medical evaluation, among others.  

The primary goal is to bring the entire lifecycle of insurance to the doorsteps of rural India, thereby enhancing insurance reach and customer experience. With the use of technology and digital assets, the company aims to expedite all insurance-related services along with on-the-spot claim settlement benefits. Additionally, the initiative seeks to educate people on the importance of insurance and subsequently create awareness of the benefits of insurance.

Bajaj Finserv has established itself as a financial power house with interests in insurance, lending, asset management and wealth management.