Investor Presentaiton
BALIC - Key Highlights
Q4 2021-22
Profit after tax
Capital Position &
Grievance Ratio
Initiatives during the year
BBAJAJ Allianz
PAT for Q4 FY22 stands at Rs. 483 Mn as against Rs. 2,339 Mn in Q4 FY21
■
On account of lower investment income & higher new business strain on
account of higher business growth
■FY22 PAT stands at Rs. 3,244 Mn as against Rs. 5,803 Mn in FY21
On account of higher COVID-19 reserves & deaths and higher NB strain
given the business growth which was partially offset by reversal of income
tax provisions basis favorable CIT (Appeal) order of Rs. 1,609 Mn (pre-tax)
for past years
Impact of COVID-19 claims was marginal in Q4 FY22
■ In FY22, the impact of COVID-19 death claims and reserve was (pre-tax) Rs.
3,459 Mn (including Par Rs. 4,441 Mn) as against (pre-tax) Rs. 321 Mn.
(including Par Rs. 391 Mn) in FY21; Reserves for probable future COVID-19
claims stands at Rs. 626 Mn (including Par Rs. 780 Mn)
■ Solvency Ratio stands at healthy 581% at 31 March 2022
■ Grievance ratio for FY22 is 40 per 10,000 policies issued (vs 44 in FY21)
Some of the initiatives institutionalised during the year are:
PASA with 60 mins approval/ issuance journey enabled in Instab
■Inculcated point of Knowledge Management in the organization
■ Launched Al/ML capability program for Satellite team
■ Focus on OTC issuance and claim settlement
■ BALIC collaboration with Meta (WhatsApp)
Focus on Customer obsession initiative including NPS to be tracked as a
measure of customer satisfaction
■
Upsell & PASA uptake for existing customers, designing framework for prospects
Al: Artificial Intelligence; ML: Machine Learning; OTC: Over the Counter; PASA : Pre approved sum assured; Instab: Sourcing app
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