The usual perception in people’s mind when it comes to insurance is that the insurance companies don’t pay the claims. According to, Tapan Singhel, MD& CEO, Bajaj Allianz General Insurance this is a wrong perception.
Singhel highlighted the importance of the insurance sector and how it gives employment to millions of people around the globe. He said, “We are the custodian of people, we take money from some and give to those who really need it.”
With India being developing at a rapid pace, it’s good for the sector to experience a boost, but everything comes with a price. With India’s young population growing at such a fast pace, there is a risk of them ending up unemployed.
According to him, unemployment is the biggest issue that can affect this country and he believes the insurance sector can provide a solution to this problem by providing enough jobs.
Singhel shared that innovation and technology will be the differentiating factors for insurance companies who are forward-looking and want to stay ahead of the curve.
The Bajaj Allianz CEO has committed to giving a million jobs across the country. His plan is not to go the brick & mortar way but to open virtual offices. “We are planning for more than ten thousand offices with hundred agents in each office,” he said.
The group is planning to make mobile and tablets as workstations for their employees and get aligned virtually. Singhel’s core objective is to provide livelihood through insurance and make a difference to the country.