Srinagar, August 25: Committed to provide its customers financial solutions under one roof, J & K Bank in association with Bajaj Allianz General Insurance launched a co-branded product – JKB Home Secure at an impressive function here at SKICC yesterday. Dr. Haseeb A Drabu, Chairman & CE, J launched the product while Mr Kamesh Goyal, CEO Bajaj Allianz General Insurance, besides other dignitaries of J&K Bank and Bajaj Allianz, was also present on the occasion. 
Speaking on the occasion, Dr. Haseeb A Drabu, Chairman & CEO, J & K Bank said, “It has always been our objective to offer the best insurance products to our customers. JKB Home Secure is a customized product developed exclusively for our customers keeping in mind the needs of people in Jammu & Kashmir. The product covers earthquake and also covers the household contents on a first loss basis which takes care of underinsurance.”

“We expect good interest for JKB Home Secure and we have help desks set up at most of our branch offices to handle all inquiries of Bajaj Allianz General Insurance products. With the three plan options, the customers also get the variety to choose what suits his needs the best at the right cost,” added Dr.Drabu.

Speaking on the occasion Mr. Kamesh Goyal, CEO, Bajaj Allianz General Insurance, said, “Giving the right product with optimized insurance cover to our customers has always been our objective. With the launch of JKB Home Secure we are extending this objective to J&K Bank customers also. In the coming months we will go that extra mile to extend our reach to the remotest parts of the state.”
In place to mention here that JKB Home Secure is an exclusive product for J & K Bank customers only and is tailor-made to suit their requirements. JKB Home Secure is a comprehensive insurance cover providing protection to your homes and a provision for daily allowance on hospitalization.
 
The new product gives complete peace of mind by insuring your household contents against all possible risks including fire, aircraft damage, riot, strike, Malicious damage, burglary and natural disasters like lightning, storm, tempest, flood, etc. It also covers breakdown of home appliances and electronic appliances due to electrical and mechanical causes. The main highlight of the product is that covers earthquake and households contents on first loss basis, which takes care of underinsurance. In case of hospitalization, JKB Home Secure offers daily cash allowance for each day of hospitalization.
Besides, the product offers three different plan options with different bundled variations of cover and premium cost which has been rationalized to best suit the requirements of the insurance buyer. The three different options of JKB Home Secure are – Silver, Gold and Platinum package with premiums varying from Rs.1200 to Rs.3350. For providing the same risk under individual policies the premium would have been almost double.

Bajaj Allianz has set up help desks in over twelve J & K Bank BDPC offices at Distt Hqtrs in Srinagar, Anantnag, Budgam, Kupwara, Baramulla etc. to service their customers and organize awareness programmes for public. This has really helped in removing all barriers in ensuring an efficient customer service.

Since 2002, J & K Bank has been a “Bancassurance” partner of Bajaj Allianz General Insurance and the partnership has been growing from strength to strength. The premium collected by Bajaj Allianz General Insurance Co Ltd. through J&K Bank Branches from the inception till 31st July 2007 was to the tune of Rs.100 Crores. The business grew by 21% in 2006-07 over the last year and Bajaj Allianz garnered a premium income of Rs.11.95 crores during the Financial Year 2007-08 (Only upto July 2007) . Since inception Bajaj Allianz has paid over Rs.45 crores as claims and settled over 21,000 claims in Jammu & Kashmir. Both the partners have decided to extend the reach to the remotest corner of the state and provide the much needed insurance products to their customers.

Mr. A.R Fazili Executive Director J&K Bank in his welcome address highlighted the business relationship between J&K Bank & Bajaj Allianz over the last Six Years.
Mr A.K Mehta President HRD & Country Head Insurance J&K Bank presented vote of thanks to the dignitaries and esteemed guests for sparing their precious time for attending the function.