Bharti AXA General Insurance Overview

• Motor Insurance, including car insurance and two wheeler insurance
• Health Insurance
• Travel Insurance
• Home Insurance
• SME Package Insurance
• Commercial Lines Insurance
• Pradhan Mantri Fasal Bima Yojana

Online Process:

• Visit the website offering Bharti AXA health insurance plans
• Go to the Bharti AXA health insurance plan page that you want to buy
• Fill up the available form with the required details, such as age and contact details
• Pay the health insurance premium
• Bharti AXA General Insurance will send your policy document on the registered email id

Offline Process:

• It saves a lot of time.
• It is more convenient as you can buy it at home.
• It involves minimal paperwork.
• It can help save on your car insurance premium.
• The policy is issued almost instantly.

Bharti AXA General Insurance has launched a new mobile application called ‘Farmer Sakha’ for farmers across the country. It will guide them to enhance the productivity of their land by adopting the best farming practices and ensuring crop insurance solutions.

The ‘Farmer Sakha’ app provides crop insurance and helps farmers to make an informed decision related to their farming requirements. It also provides information on the scientific method of farming, sowing, crop cultivation and harvesting of major crops.

At the app launch, Managing Director (MD) and Chief Executive Officer (CEO) of Bharti AXA General Insurance, Sanjeev Srinivasan said that the app can be useful for the farmers as it will address their needs as well as the risks of the crop cycle. He added that the app will help them interact with the farmers, understand their issues and provide them with tailor-made solutions.

The app allows farmers to get customized crop advisories and innovative solutions from experts that can help to protect their crops and increase the overall productivity. They can also check the crop calendar, the market price of crops, the weather forecast for their crops and news on upcoming events to meet their farming needs. They will also have access to informational videos, land unit conversion and Pradhan Mantri Fasal Bima Yojana (PMFBY) for information related to crop insurance.

The app aims to provide the farmers with crucial information so that they can take correct decisions right from sowing to the sale of crops, said Senior Vice President and Agriculture & Rural Business head of Bharti AXA General Insurance, Alok Shukla.

The app will be available in multiple languages to make it accessible to more people. It is available for download at Google Play store.
29th Jan 2021

Bharti AXA General Insurance Company has launched a special cancer awareness campaign on its social media platforms, including Facebook, Twitter, Instagram as well as LinkedIn. It aims to spread awareness and increase knowledge amongst the people about early detection of cancer.

The private insurance company has initiated #CancerSendsNoNotification campaign on 7th November 2020 on the occasion of the National Cancer Awareness Day. It consists of a series of social media activities that will highlight the importance of increased awareness about prevention and early detection of cancer among the Indian people.

The campaign will encourage people to prioritize their health and safeguard it from cancer by taking the right precautions in their lives. Furthermore, it also intends to motivate people in adopting a better lifestyle to beat the disease.

In the first post, Bharti AXA General Insurance Company busts the myth that all lumps present in a human body are cancerous. In reality, most of the lumps in the body are benign and one has to get tested to know if it is cancerous or not.

In the second post, the insurer highlights that regular Pap test is the key to early detection of cervical cancer as its symptoms are not visible unless the person reaches stage 3 of the disease.

The campaign comes at a time when most people hesitate to get regularly tested due to the ongoing COVID-19 pandemic. The delay in tests can be harmful as early detection of cancer are known to save lives.

ICICI Lombard General Insurance is currently in advanced talks to acquire its competitor Bharti AXA General Insurance, sources aware of the matter said. The insurance assets of the two companies will be merged in a stock deal worth Rs 2500 to Rs 2800.

As per reports, ICICI Lombard will acquire all the stakes of Bharti AXA General Insurance, owned by Bharti Enterprises with 51% per cent and France-based insurer AXA Group with 49 per cent stakes.

Both the companies are willing for the merger and are presently believed to be negotiating the value of Bharti AXA General Insurance, the source said. The merger will most likely be announced in the coming week.

The acquisition by ICICI Lombard comes at a time when the insurance industry is witnessing a slump due to the COVID-19 pandemic and the resultant economic slowdown.

Moreover, the merger will lead to AXA Group making an exit from the Indian insurance industry.

With a market share of 8.4 per cent, ICICI Lombard has underwritten a gross premium of Rs 3302.19 crore in the second quarter of 2020, which is 5.3 per cent lower than that in 2019 for the same quarter. The weaker gross premium in 2020 is believed to be a result of the overall industry slowdown.

On the other hand, Bharti AXA General Insurance recorded a gross premium of Rs 508.93 crore during the June quarter which led to a 12% drop vis-a-vis the gross premium in 2019 for the same quarter.

ICICI Lombard, which is the largest private general insurance company in India, has 51.89 per cent stakes owned by the ICICI Bank.

The coronavirus pandemic has completely altered the landscape of health and life insurance policies. People now have started considering health insurance seriously and are preferring term insurance policies over other plans.

However, 17% of people want to keep health and life insurance separately and around 25% of people have polled that it is significant to have an overarching insurance policy that has all the coverage in such unpredictable times. They have found it as a requirement of an hour to fight such unusual situations of life as per the survey that comprehended the feelings of people during COVID – 19 outbreak and lockdown period of three-months.

Approximately 25% of people are thinking of getting a life insurance plan, while the same number of people want to have a health insurance policy in coronavirus induced a new way of living. This is because in this new way the cost of medical treatment has risen and regular income has disturbed.

Approximately 30% of the salaried people were willing to have additional insurance plans as against 18% who are self-employed have noted the survey of Bharti AXA General Insurance having sample size taken of more than 2, 300 people.

The coronavirus pandemic has brought forward the human vulnerabilities, wherein life insurance has come at the top. The demand for a comprehensive health insurance plan has gained the utmost attention. If we talk about the mindset of people towards health insurance, then it has changed noticeably during the lockdown period of COVID-19.

Finalizing a health insurance plan has come up as a preferred choice for approximately half of the people who responded in this survey. It also indicated a new market for the products of health insurance.

While talking about health insurance further, the survey reveals that 50.4% of the customers want to have health products where the rates are fixed for the coming five to 10 years. It is to be noted that there has been a significant increase in the premiums of health insurance policies.

Short-term insurance plans have appeared as a new choice in uncertain times such as COVID-19 pandemic. The ultimate truth of the health insurance plans is seen at the time of claim, the survey further indicates.

The pandemic of COVID-19 has completely changed the scenario of health and life insurance plans. People now are considering life and health insurance plans more seriously and are preferring these policies over others. The experts of the insurance industry are having a view that the new sentiments of the consumers that are seen at the time of lockdown will continue even after the pandemic.

On Saturday, November 28th, 2020, ICICI Lombard General Insurance Company confirmed that its board has approved its merger proposal with the non-life insurance business of Bharti AXA. According to ICIC Lombard, this merger would come forth as the third-largest non-life insurance providers in India.

This deal will as well result in an entity that will have a combined annual premium of Rs. 16, 447 Cr and a share of the market of approximately 8.7% as per ICICI Lombard.

The shareholders of Bharti AXA Life Insurance will get two shares of ICIC Lombard for every 115 Bharti AXA’s shares held by them as discussed and approved by the board of directors of both Bharti AXA and ICICI Lombard on the date of the merger.

Currently, AXA and Bharti are holding 49% and 51% stakes respectively in their joint venture. They in total will get 3.58 crore shares in ICICI Lombard. The amount of this would be around 521 million euros as per some reports.

The swap of shares was recommended by the independent values and it was accepted by both the boards of these insurance providers.

ICICI Lombard is calling this merger a strategic partnership and said that ICICI Lombard is one of the largest non-life insurers of the private sector in India whereas Bharti AXA is one of the well-reputed global insurance providers.

According to ICICI Lombard, the suggested transaction of this merger is providing a meaningful opportunity to the company so that it unifies its leading market position in the non-life sector of insurance by which it has become the third-largest non-life insurance provider.

ICICI Lombard with this proposed transaction will be able to augment its strength of distribution with the existing distribution partnership of Bharti AXA. The combined entity of this merger shall as well benefit from the continued partnership provided by Bharti Group.

As per ICICI Lombard, all the policyholders of the company are expected to gain benefit through this enhanced product suit and better connect with customer touchpoints. Employees of both the companies after the merger will as well be benefited as they will get larger opportunities across different geographies and functions.

At the starting of this month, the Competition Commission of India (CCI) has as well approved the acquisition of Bharti AXA General Insurance Company by ICICI Lombard. The National Stock Exchange and BSE both have issued an Observation Letter for the same.

In simple terms, the idea behind the usage-based motor insurance policy which is also known as ‘pay as you drive’ is to allow the policyholder to pay the premium based on the kilometers driven.

The proposal sent by Bharti AXA General Insurance was shortlisted by IRDAI (Insurance Regulatory and Development Authority of India) for the regulatory sandbox project. This product is surely going to benefit people who usually drive less as the name itself suggests, ‘Pay as You Drive’. It would be also ideal for people who are having multiple vehicles and they usually don’t use much which results in not paying a higher premium amount.

People who opt for public transport on a daily basis can also benefit from this new product offered by the insurance company.