Corporate Social Responsibility

31st December 2014
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– Mr. Yogesh Gupta,  Senior Vice President and Head Business Procurement

                                      & Financial Inclusion at Bajaj Allianz Life Insurance

 

Bajaj Allianz Life Insurance Co. is one of the largest private players in Indian insurance industry and the largest private player in the rural insurance and financial inclusion space. Over a span of 7 years since our financial inclusion initiative, we have dedicated our work in serving the micro insurance segment of society which is generally not touched by main stream players because of the various reasons.

One of the major challenges that even we had to overcome entering this space and over the years, is the market itself. The lack of knowledge of financial tools and the need for insurance in lives is very well unknown by the uneducated rural customers. Not only overcoming this challenge and securing billions of lives in rural space, but also being pioneers and most profitable private insurer in this space is one of our major achievements.

Thus, we have been associated with the less privileged and always have been working towards the upliftment of society, though formally utilizing 2% of our profit for CSR activity as per the government of India guidelines, has been a recent undertaking.

For our work in the initiative we have recently given in principal approval to support an organization called “SMILE TRAIN” (with a global footprint). This organization helps to provide free surgeries to children having cleft lips.

The Surgery completely changes the life of these children by getting them into the main stream and transforming them into contributing citizens of the world economy.

Between Bajaj Allianz Life, Bajaj Allianz General & Bajaj Finance, we will initially sponsor 500 surgeries with a budget of around 1 Cr. as a pilot project. Apart from our formal undertaking over the past years, we have conducted some informal CSR activities also.

To illustrate as follows:
Our most recently conducted CSR activity was launched in joint efforts with our flagship business partner Gramin Bank Of Aryavat (GBA), a Regional Rural Bank (sponsored by Bank of India) specifically catering to the banking needs of rural customers headquartered at Lucknow, Uttar Pradesh.

The CSR activity was conducted in three villages of Uttar Pradesh:

  • Shakurabad (Barabanki RO of GBA)
  • Badhenpurwa (Barabanki RO of GBA)
  • Harendha (Barabanki RO of GBA)

The activity was curtain raised in the month of Jan’14 (in due consultation with officials of Gramin Bank of Aryavart) in the relatively challenged villages with poor electricity/power situation and with poor approach of public transport.

The state of Uttar Pradesh faces adverse winter conditions with minimum temperature going as low as 0-2 degree at night. The people belonging to the BPL class were served with a sheer objective to provide them with some aid in the chilling winter season.

In pursuit of the same blankets were distributed to such families. This was coupled with a message that that Gramin Bank along with corporate like Bajaj Allianz Life Insurance Company is spreading the message of “Financial Inclusion”, an initiative rolled out by the Government of India for the betterment of the rural poor.

Our initiative spread the message of Bajaj Allianz Life Insurance Company being committed to adhere to the social values and its commitment towards the upliftment of the rural society.

Please find below 10 shortlisted photographs of the activities conducted:
In 2008 Smile Train produced a 39’ documentary called ‘Smile Pinki’ chronicling the life of Pinki Sonkar born with a cleft lip in a dirt poor landless laborer’s family in a small village in Mirzapur District and how it changed after she received reconstructive surgery. In 2009 this documentary won an Oscar.
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Blanket distribution activity
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