Corporate Newsletter of Bajaj Allianz General Insurance Co. Ltd.

Corporate Newsletter of Bajaj Allianz General Insurance Co. Ltd.Vol - 1, Issue - 6 Nov - Dec 2003Dear Friends,I am delighted to interact with you in my firstcommunication after taking over as CEO of BajajAllianz and take this opportunity to wish you andyour families a very happy 2004 and beyond.The first CEO of any company plays a critical roleas the foundations are laid in the initial years.Sam has brought this company to a stagewhere we have not only assumed theleadership position amongst the private playersright from the first year but have also achievedaccumulated break even in our first full year ofoperations. But more importantly, I feel thatSam has made a big impact on the culture of ourcompany which is hands on, performancedriven, open and gives every one anopportunity to grow. All of us have to always actin a manner which strengthens this culture.Sam has now assumed the role of CountryManager and also CEO of Allianz Bajaj LifeInsurance and we wish him luck in his newposition. This also offers an opportunity for thetwo companies to work even closely and benefitfrom each other's resources.The performance of our company continues tobe good, we have crossed Rs. 330 crore inpremium income till December 2003, profit aftertax exceeds Rs. 16.5 cr and we are hopeful ofachieving a combined ratio of less than 100% inthis financial year. The months of October andNovember were a bit tough for the generalinsurance industry as a number of big propertyclaims were reported. We also received a fewlarge claims, despite which we were able toachieve profitability for these two months.Some of the products recently introduced byus like event insurance, MTO liability policy andother speciality lines have received a goodresponse from the market. We intend to intensifyour efforts to develop this line of business in thecoming months. During this period we have alsotied up with two new banks viz. Saraswat Bank &Karnataka Bank with which our Bancassurancebusiness will grow especially in the West andSouth zones.The business environment continues to be verycompetitive. I foresee further reduction in ratesfor corporate clients and more pressure fromthe customers to further improve service levels.Thus going forward it should be our priority toimprove our renewal ratio and develop astrong agency force. We are taking some newinitiatives in Agency Development that willbe rolled out in the next couple of months.The committee set up by the IRDA onintermediaries has submitted their report. Thisreport has been published by IRDA for publicdebate. Some of the recommendations of thecommittee on special discount, bancassurance,access to database and pure risk rates are ofwide ramification. Moving from tariff to purerisk rate in my opinion is a step backward.Any liberalisation from tariff should be towardsdetariffing only, let us not give tariff anothername. Similarly the recommendations to keepbanks away from distribution on the premisethat they get claims paid, composite brokersnot be allowed etc do not appeal to me. Otherthan claims arising out of insurance of NPAs,banks are not direct beneficiaries of any claim,they just credit the claim amount in the insured'saccount. If banks should not be allowed todistribute general insurance due to this conflictof interest, how they have been allowed topromote insurance companies in the first place,is another matter which seems to have skippedthe committee's deliberations. Tomorrow motordealers would not be allowed to sell motorinsurance as they get motor claims paid. Insteadof increasing distribution channels let us notreduce the existing ones.The reinsurance in our country is still looked atfrom the foreign exchange angle. Today ourforex reserves exceed $100 billion, assumingthat a few brokers increase the reinsuranceoutgo due to being composite brokers, theoverall outgo would not exceed $ 5-10 millionin a year. I hope 2004 is the year when we willstop looking at reinsurance purely fromperspective of saving forex as the CentralGovernment is taking all steps to increase forexspending.For IRDA the agenda for 2004 is to take thereforms and liberalisation process further.Since the nineties we have seen that thedirection of reforms is just one way i.e. forward,the pace might vary. Thus I believe that we willhave detariffing sooner than later. For us as acompany, the challenge is to develop skills thatcan hold us when detariffing actually happens.With our actuaries we are in the process ofdeveloping rating engines for retailproducts. Also, a multi-disciplinary team ofprofessionals is being formed to developrating parameters for corporate clients.Under the circumstances it is of great valuethat we are able to attract and retain talentedpeople in our company. Sreenivasan has joinedus as CFO (Designate) while Anamika hasjoined as National Coordinator (AgencyDevelopment).I look forward to your continued support,With warm regards,Kamesh Goyal01

Bajaj Allianz NewstrackChanges at the Top ManagementWe are happy to inform you that Sam Ghosh has taken over as Country Manager and also CEO of Allianz Bajaj Life Insurance and Kamesh Goyal hastaken over as our new CEO with effect from 1st Jan2004.CEO at Forums8th CII’s Insurance SummitSam Ghosh making a pointBusiness Standard, a leadingbusiness daily organised aRound Table discussion onthe most widely useddistribution channel -Banks.The topic of the discussionwas - Banncassurance is afailure in India.Our CEO was invited for theRound Table discussion.Participants included fromour other companies also.Sam Ghosh, was the onlyparticipant from the generalinsurance industry.Sam addressing the delegates of CII’s 8th Insurance Summit 2003CII held its 8th Insurance Summit at Hyderabad. Thetheme was “Realising the Growth Potential”. SamGhosh was one of the speakers of the summitTie-UpsKARNATAKA BANKKarnataka bank Ltd., has recently signed a MOU withBajaj Allianz General Insurance to distribute ourproducts to its customers.Ananthakrishna, Chairman & CEO, Karnataka Bank Ltd.,said , " This tie-up is a significant move in our mission tobecome an integral solution provider." The 79 year oldKarnataka Bank's total business was in the region ofRs.12,000 crore and it earned a net profit of Rs. 110 crorefor 2002-03.The bank has a national presence with anetwork of 364 branches across 15 states and 2 unionterritories.Sam Ghosh & S. K. Banerji, MD, exchangingthe MOU of the tie-upSARASWAT BANKSaraswat Bank, the largest among the co-operativebanking sector signed a MOU for distribution of generalinsurance products with Bajaj Allianz General InsuranceCo. on 27th November 2003.S.K.Banerji, Managing Director, Saraswat Bank said, thetie-up would ensure the availability of various needsbased general insurance products & quality service to ourcustomers.Sam Ghosh & Ananthakrishna exchanging theMOU of the tie-up02

First Half Results 2003-2004Claim SettlementIn this issue we feature the claimsettlement of M/s Amitech Pipe-Systems (I) Pvt. Ltd.Client :M/S. Amitech Pipe Systems (India) PvtLtd.M/S. Amitech Pipe Systems (India) PvtLtd. is a joint venture between AmiantitHoldings, Saudi Arabia, a leadingmanufacturers of Glass ReinforcedPolyester (GRP) tanks world wide andMr. Shivanand Salgaonkar, a leadingindustrialist from Goa withshareholding in the ratio of 70%: 30%Cover :Project Insurance which included EAR,Fire, Marine etc.What HappenedThe Tank Ribbing Machines had beenimported from Flowtite, Norway. Allprocess parts, components, electricaland control systems were imported.After the reportedly successful test ofthe dry ribbing, a full scale appliance ofribs was also done in the morning ofNovember 6, 2003. Suddenly therewere two explosions in quicksuccession at about 11:20 hours onNovember 6, 2003.A Norwegian engineer, Mr. ArvidSundboe, was doing commissioning ofthe Ribbing Machine. The activities onthe day of the incident are not preciselyknown as the two persons who werepresent in the area and/or involved inthe commissioning activity, died as aconsequence of injuries sustained inthe accident. A fire followed theexplosions, which was on account ofsplashed out resin and / or catalyst. TheFire Brigade was alerted and tenderscame from Bicholim, Mapusa andValpoi. The fire was localised aroundthe machine. The fire brigade camereportedly within 30 minutes anddoused the fire. The estimated loss wasRs. 1 crore approx.Role of Bajaj AllianzImmediately on receipt of telephonicintimation about the incident at 11.45,a preliminary surveyor was appointedand by 12.30 the our Manager(Technical) along with the surveyor hadreached the site to take stock of thesituation.. The officials of Amitech whowere quite shocked with the accidentwere relieved to find the insurancecompany responding so quickly. Thevery same day, Mehta & Padmsey fromMumbai were appointed for the finalsurvey and Mr. Saumil Mehta flew inthe very next day and carried out thesurvey. In the evening, a joint meetingof the representatives of the insured,insurer and the surveyor was convenedand the entire claim process anddocumentary requirements wereexplained to the client.After a series of discussions andconstant follow-up with the insured, allthe documents were received on 19thDecember 2003 and the final reportwas released on 23rd. December 2003.The claim was processed and wasapproved for payment for Rs.81,89,055/- on 26th December 2003.Lessons LearntNovember - December 2003Deliver In Moments Of TruthThis was the moment of truth for us.Our entire team at Goa office realizedthat they needed to deliver when itmattered most and they did exactlywhat was expected of them. We at BajajAllianz have been working to fulfill thevision of being the first choice insurerfor customers and this is only a smallstep towards that. We can perform stillbetter.Initially when the project insurancewas being discussed with variouspublic sector companies, Amitech alsodecided to invite some privatecompanies. The Techno Marketingteam of Bajaj Allianz made apresentation on Project Insurance. TheDirectors of the company was soimpressed with the professionalapproach of Bajaj Allianz that theydecided to place 100% business withBAGIC.Client's reactionWhen asked how he felt about handlingthe claim, Mr. Shivanand Salgaocar,MD, who is a stakeholder in thecompany said, '' It is simply amazing.”The manner in which the claim hasbeen dealt with has only strengthenedour trust in them and the least we cando is tell other Corporates about ourexperience.''03

Our Customer SpeaksBajaj Allianz NewstrackIn our series of interviews with ourpartner, we feature an interview ofMr. A. R. Fazili, General Manager, J &K Bank, our leading BancassurancePartner.Interview with General ManagerMr. A R Fazili, J & K BankQ. You are personally involved with the tieupsand various initiatives of J&K Bank.What was your objective to marketgeneral insurance products?A. In modern times the stress is nowon relationship banking. EveryBanker has to cater to the entireneeds of his customers may thatbe his finances, mutual funds,pension and last but not the leastinsurance. Having felt the pulse ofthe market and the demands ofour customers the J&K Bank hadno option but to transform all its465 branches into financial supermarkets where we can offerbasket of financial products toour customers. The customers ofBanks no more need to walk intothe branches, infact they canswitch on their laptops and usetheir home as their office as well.They have no time to go frombank branch to the insurancecompany because the banker hasto act as his financial advisor justlike a doctor who attends to hispatients. Since insurance is a partand parcel of the financial needsof customers, J&K Bank had tothink of offering insuranceproducts to its customers out ofbasket of financial needs. Thusthe need for our tie-up with BajajGeneral Insurance Company. Onemore reason, though not themain reason, is to increase andsupplement fee based income ofBank by earning a small portionof the pie. The interest rate inadvances has been experiencingMr. A. R. Fazili, General Manager, J & K Bankdown ward trend and the bottomlines of Banks are drying up.Therefore the Banks have to lookfor alternative avenues of incomeand the insurance being one ofthem.Q. What were your prime considerationswhen deciding a tie-up with an insurancecompany?A. The spread of our branches isfrom corner to corner in the entirecountry and the bank has beenranked No.1 private sector. Bankfrom amongst the new generationforeign and private sector banks.Our presence is almost in everybig city of India and we have staffstrength of more than 7000employees who are working asour ambassadors. Not onlydedicated manpower but evenother infrastructure is alreadythere. Therefore the bank had nodifficulty in assigning insuranceresponsibilities to its staffmembers for looking intolegitimate needs of its customers.Customer care is an importantfactor by offering a convenientwindow for banking andinsurance products under oneroof. So the network of the Bankwith its dedicated employees is animportant factor in channelizingof financial products and offeringthem to the customers. In moderndays of competition you can notdo without offering the best ofproducts and services and that isthe reason why we had to selectone of the best insurancecompanies for tie-up. Allianz is aworld wide name in insuranceand so is Bajaj in India which hasearned a great reputation inindustrial circles. Both thesenames have a vast experience intheir respective fields andobviously we had no difficulty indeciding about the GeneralInsurance partners.Q. Having tied up with Bajaj Allianz, are yousatisfied with the working relations?A. Now it is our second year ofoperation with Bajaj Allianz yetwe feel that the relationship is ageold as if we have been workingtogether since decades. We havesuch a nice relationship andcoordination that there is hardlyany difficulty in our working.B. In view of the changing customerexpectations after liberalizationof insurance sector, Bajaj Allianz04

November - December 2003should take the necessary remedial measures toovercome the below mentioned difficulties beinggenerally faced by the customers:i) In case of motor insurance particularly in accidentalclaims surveyors come unannounced and afterseveral days (especially in rural areas) and thecustomer is unable to meet him and explain his caseface-to-face. The company generally approves theclaims for amount much less than “Repair Estimate”submitted by the customer.ii) In case of theft or total loss, claim settlement processis lengthy and cumbersome; the claimant has toproduce FIR and other documents to the company. Intheft case Company awaits “non-recovery closure” ofcases by police before settling the claim. For thisreason claim settlement gets delays.There are some other areas also where there is a lot ofscope of improvement:a) Bajaj Allianz should immediately make arrangementsfor issuing the policy bonds from their Srinagar office;b) The existing skilled/trained manpower in Bajaj Allianzlocal offices should be augmented to cope up with theincreasing volume of business being referred to byJ&K Bank branches to the company.Q. Bajaj Allianz is committed for a long-term relationship with J&KBank. What do you think are other innovative steps that we cantake jointly to provide the best possible solutions to ourcustomers?A. A lot of integration has to be done in this direction:i) Mass campaign for customer awareness about BajajAllianz products through electronic/print media,thereby giving full features of a particular product.This will help taping the untapped business, whichconstitutes about 15%.ii) Establishment of credibility of Bajaj Allianz to makeits presence felt by the people especially in the state ofJ&K, where the public sector insurance companieshave been the leading players for decades.iii) To enhance coordination between the J&K Bank andBajaj Allianz functionaries at all levels in order toensure the implementation of the policy decisionseffectively.iv) There should be a mechanism in place at all J&K Bankbranches for calculation of commission on thebusiness referred to Bajaj Allianz by a particularbranch. Commission should directly be remitted byBajaj Allianz to the branches.Dealers MeetAn Auto Dealer Meet was organised by our Chennai &Bangalore offices to address some key points/issues ofour relationship with Dealers, Customers, ServiceEngineers & SurveyorsThe purpose of the Meet was :1) to strengthen our relationship at the operational level2) have first hand knowledge of how they felt about ourservices, procedures3) expand our relationship on a mutually beneficialbasis.Meet at ChennaiA Service Engineers meet was held at Bangalore. ServiceEngineers from all our offices attended the meet. Mr.Vijay Kumar addressed them during the meet.Meet at BangaloreSome of the Service Engineers shared their knowledge,experience in their respective areas.05

November - December 2003Global RisksREPORTNews and views of risk management 4/2003White-Collar Crime :The Hidden RiskWhite-collar crime in companies is a risk no one likes to talk about openly, particularly if itis perpetrated by your own employees. But research shows that it is becoming an increasingthreat with catastrophic potential. In the worst case, it may even lead to insolvency.BY SABINE ENSELEIT06

Bajaj Allianz Newstrackn Germany, company directors estimate annualeconomic losses in their country caused by white -collar crime of up to ¤100 billion. By contrast, in theirown companies, everything is under control, theybelieve, falling victim to a serious misapprehension.“Theft, fraud, embezzlement and misappropriation offunds by a company’s own employees are increasinglybecoming an everyday occurrence in business,” saysClemens von Weichs, Chairman of the Board ofManagement at Euler Hermes Kreditversicherungs-AG.The most recent study by the credit insurer presentsimpressive evidence for this assertion. A full one-third ofall companies in Germany with turnover exceeding ¤1million became victims of white-collar crime over the past3 years. In three-quarters of these cases their ownemployees were involved.This puts Germany squarely in the middle of theWestern European average where, according to a study onthe UK by PricewaterhouseCooper (PwC), around 34percent of all companies suffer losses due to white-collarcrime. In international terms, this figure is relativelyfavorable, since another study, “Global Economic Crime2003.” by PwC in cooperation with the American law firmWilmer, Cutler & Pickering, shows that some 37 percent ofcompanies are affected in the US , white in France thefigure is 43 percent and in the UK more than half. See fig. 1for the regional breakdown of white-collar crimesreported.Despite such statistics, many companies still do nottake the danger seriously. Thus according to the EulerHermes study, some 86 percent of the respondents inGermany see white-collar crime as a serious problem ingeneral, yet not even one tenth of managers think that theyrun an elevated risk of criminal actions by their ownemployees. This attitude can be seen in almost all theindustrialized countries, with the possible exception of theUK, where the number of respondents acknowledgingthese risks is higher than on the Continent or in America orAsia. This does not necessarily mean that the incidence ofwhite-collar crime in the UK is higher. It may just reflect amuch stronger awareness and greater tendency to noticecrime in companies, so that it is much more in the publiceye than elsewhere.The type of losses, however, also differ significantly inthe UK from those in other industrialized countries. Thus,the level of asset misappropriation, such as paymentdiversion, is substantially higher than in other regions,white bribery, embezzlement or pirating of products is wellbelow the average, according to the PwC UK survey. Thismay indicate that the UK does too little to prevent assetmisappropriation, particularly at a time of globally weakgrowth. It would be regrettable, since this type of crime isgenerally regarded as one against which companies cantake effective precautions.But asset misappropriation is the most frequentlyreported crime in the US too, making up 25 percent of alllosses, followed by cybercrime. A particularly striking fact,though, is that more than half of all the companies canvassedin the US believe that financial misrepresentation is far andaway the most frequently occurring form of white-collar crime,white in fact it only accounts for a mere 2 percent of reportedcases. This is obviously a result of the wide media coveragegiven to a few spectacular cases of financialmisrepresentation, like balance sheet falsification in the US,with losses running into the tens of hundreds of million ofdollars. And it also shows that the companies see a strongthreat to their finances and reputation from such activities,even if the crime seldom occurs.High loss frequency and volumeBy contrast, in Germany, more than half of all internal crimesconcern theft, indicates that Euler Hermes Kreditversicherungstudy. Roughly one-third of companies suffer losses due tovarious type of fraud. such as embezzlement andmisappropriation of funds. Most of the perpetrators are inpositions of trust and have direct access to the flow of funds.07

November - December 2003In one typical example, a 43-year old accountant in apublishing house siphoned off a total of ¤ 350,000 overseveral years. She took advantage of her superior’s trustand repeatedly transferred small or medium-sized sumsfrom the business account to other account numbers. Sheused the money to pay for cars and expensive holidays.Fig.1Indications of white-collar crimesreported by regions(as a percentage of survey respondents)UKWestern EuropeCentral &Eastern EuropeSouth &Central AmericaNorth AmericaAsia & PacificAfrica610101111151212152421300 10 20 30 40 50 60 70 80 90Asset misappropriationCorruption and briberyProduct piracySource: PricewaterhouseCoopers, Economic Crime Survey 2003-United KingdomFig.222Global impat of business crime(as a percentage of corporate respondents)ReputationBrand imageShare priceStaff moraleBusinessrelationship31303135374448470 10 20 30 40 50 60 70 80 90Long termShort termSource: PricewatehouseCoopers, Global Survey on Economic Crime 2003, publishedin association with the law firm of Wilmer, Cutler & Pickering56576567697173757382Of the 402 companies questioned by Euler Hermes inGermany, companies fell victim to internal crimes 7 times onaverage over the past 3 years. The average loss reached¤73,000 , and losses from cases discovered totaled ¤23.2billion.This is the reality in Germany as seen in the statistics. Yet itclearly does not tell the full story. In fact, the Euler Hermesstudy also revealed that 64 percent of respondents suspectedthat they had incurred a loss over the past 3 years, but that ithad gone unnoticed. This raises the suspicion that a very highpercentage of white-collar crimes in Germany goesundetected.Increasing trendWhat motivates growing numbers of employees toknowingly inflict losses on their companies? Surveyrespondents saw the cause mostly in a general deterioration ofvalues and the slow economy, which leads to fiercercompetition and a general hardening of attitudes in thestruggle to make ends meet. The employees concerned oftenalso have personal problems with serious financialconsequences, such as an addiction to gambling or anexaggerated need to impress others. Many of the reasons lie,however, in developments in the modern working world, inwhich loyalty, responsibility and reliability take a secondplace to flexibility, cost-cutting, lean management andshareholder value. Figure 2 shows the global impact of whitecollarcrime.Interestingly, some 7 percent of respondents said their ownmanagement level was especially at risk of perpetratingwhite-collar crime. Essentially, the employees who were mostable to inflict the greatest damage on a company were thosewith extensive knowledge of its internal workings. Asexpected, departments and positions in direct contact withgoods, accounting or cash payments were also seen as beinghigh-risk.More and more people seem to be prepared to inflict losseson their own company. At least, this is the fear expressed byteh horizon. Moreover, some 58 percent expected crime incompanies to rise. In the US, 84 percent of companies seewhite-collar the crimes most frequently mentioned were assetmisappropriation (53 percent), cybercrime (30 percent) andfinancial misrepresentation (17 percent).To have some employees enriching themselves illegallycan assume a life-threatening dimension for the companysuffering the loss. In some circumstances, It may be thrown offbalance with out any prior warning, and companies do notalways have the risk provisioning capacity to compensate forthe loss. Entrepreneurs who do not have insurance to coversuch an unexpected risk are left to deal with it as best they can- alone. In extreme cases, this can put the survival of the entirecompany into question.The necessary protectionAlthough companies are aware of the increasing threatfrom crime in companies, 88 percent of those in Germanyconsider the precautions they have taken to be sufficient. Thefigure in the UK is slightly lower at 85 percent, but 81 percent of08

Bajaj Allianz Newstrackthe man agers surveyed said that they had substantiallytightened their control procedures in the preceding yearand were thus better protected from white-collar crime thanother international enterprises. A full 95 percent ofcompanies in the US regarded their risk management in thisarea as highly sufficient.However, the findings in Germany show that as much as30 percent of cases only come to light by coincidence andalmost one-quarter due to information from customers andsuppliers. Systematic warning through internal controlsystems and internal auditing departments, on the otherhand, only reveal 8 percent of crimes. In the US, similarly, 36percent of crimes in companies are discovered throughinformal tip-offs are only half by means of systematiccontrols.Nevertheless,prevention is one of themost effectiveinstruments for limitinglosses. Effective controland regulatory systems,clear companyguidelines andtransparent structurescan all significantlyreduce the risk. In thelast resort, however, itis not possible toprevent every whitecollarcrime by means ofthe preventivemeasures taken.Anyone who knows the measures can circumvent them.Insurance coverage against economic losses due to crimescommitted by employees in a company, known as fidelityinsurance, can be a suitable means of reducing the risks, inaddition to the preventive measures mentioned earlier.A full three-quarters of US companies take out insurancecoverage against economic losses from white-collar crime,while the world average is only about 50 percent. Only 37percent of companies in the US have actually made claimson such losses, however, and 80 percent of theindemnification paid out was for only most of the cases ofeconomic crimes in companies in the US are ofcomparatively small volume and remain below thethreshold required for making a claim.Top of the league in insuring themselves against whitecollarcrime, however, are the companies in the UK, wherethe percentage of companies insured is higher than in mostother industrialized countries. And, fidelity insuranceagainst losses caused by a company’s own employees isthe leading type of insurance purchased.Euler Hermes Kreditversicheurung, for its part, offersfidelity insurance to German-based companies and theirforeign subsidiaries, covering them against economiclosses caused by their own employees. Fidelity insurancehas a role to play wherever employees are entrusted withthe administration and handling of company assets. It is notdependent on the sector or the size of a company and payscompensation for losses caused by unlawful acts willfullyperpetrated by employees. These are mainly losses due totheft, but also include embezzlement, fraud, computerfraud, misappropriation of assets and other willful unlawfulacts such as damage to property (sabotage). Coverage isworldwide and includes all designated companies in whichthe insured holds more than 50 percent of the shares."The article is reprinted with permission from the Allianz Global RisksREPORT magazine, issue 4/2003. This quarterly magazine focuses oncorporate risk management. For more information, seewww.agr.allianz.com/magazine”09

November - December 2003Bajaj Allianz in the NewsThe Hindu Business Line4th Dec 2003The Economic Times Pune4th Dec 2003Business Line15th Dec 2003The Financial Express4th Dec 2003The Hindu6th Nov 2003Business Standard4th Dec 2003Dinnakaran16th Dec 2003Deshabhimani9th Nov 2003Eenadu15th Dec 2003Mathrubhoomi10th Nov. 2003Economic Times15th Dec 2003The Economic Times28th Nov 2003Daily Excelsior18th Dec 2003Business Standard15 Dec 2003The Financial Express15th Dec 200311

Bajaj Allianz NewstrackFinsure 2003 - RajkotMAHA EXPO-2003 - AurangabadUnion HRD Minister Vallabh Kathiriainteracting with our Rajkot Team.Vivek Trade Links and RISPL Insurance Brokersorganised Finsure 2003 at Rajkot on 26 Dec 2003.The event was first of its kind in Saurashtra and allthe General and Life Insurance Companies, MutualFund Comapnies, Leading Private and Public SectorBanks, Investment Consultants, and financecompanies participated in it.Our Aurangabad Team handing over thePolicy to customer at Maha Expo.The Mega event of Aurangabad, Maha Expo was held atGarware Grounds. Our Aurangabad office participated inthe event and received some good leads in the SME sectorand also queries for the Retail products.The event met with an encouraging response fromall sections of trade commerce and industryincluding the media.Our Rajkot office participated & won the trophy for"Most Interactive Stall on General Insurance.”Our AmbassadorsTrevor Rodrigues presented a paperon "Do not employ employees whohate customers" where he stressedon the need for training andrevitalising employees in an effort otensure that interactions withcustomers bonds into a fruitful winrelationship for all. Trevor was alsoinvited to address queries at the endof the seminar.12TrevorRodrigues ,ManagerTraining wasinvited to give atalk in aninternationalseminarEditor - Santosh BalanWe would like to hear from you. Please send your contributions in the form ofNews, Events, Articles etc. to santosh.balan@bajajallianz.co.in* Views / Information expressed herein are illustrative and informative in nature and not binding on the company.Insurance is the subject matter of the solicitation.Amit Sinha, RM, Delhi handing over the award to thewinners of Industry Galileo Express Travel & TourismAwards’03 held at Delhi. Bajaj Allianz General Insurancewas the Associate Sponsor for the Event.Take - It - Easy