Bharti AXA Life

Bharti AXA Life is an Indian life insurance company that operates as a joint venture between Bharti Enterprises and AXA, a multinational insurance firm. Established in 2006, the company has emerged as a key player in the Indian insurance industry, offering a wide range of insurance and investment products to cater to the diverse financial needs of its customers. 
==History==
Bharti AXA Life was founded in 2006 as a joint venture between Bharti Enterprises, a leading Indian business conglomerate, and AXA, a global insurance and asset management firm headquartered in France. During inception, the former owned 74% while the latter owned 26%. The collaboration brought together Bharti's deep understanding of the Indian market and AXA's international expertise in insurance and financial services.
On Sept 08, 2021 ICICI Lombard General Insurance and erstwhile Bharti AXA General Insurance 
entered into definitive agreements wherein the general insurance business of erstwhile Bharti AXA was demerged into ICICI Lombard. The transaction came into effect after receipt of necessary approvals from The National Company Law Tribunal (NCLT) and the Insurance Regulatory and Development Authority of India (IRDAI).
==Purpose and Values==
The purpose of the company is ‘In a complicated world, we make insurance SIMPLE.’ Following are the values that Bharti AXA Life operates on:
* Customer First
* Take Ownership
* Do the Right Thing
* Excel Everyday 
==Bharti AXA Life Journey==
S.No.	Year	Milestone
1. 	2006	Started as a joint venture between Bharti Group (74%) and AXA Group (26%)
2. 	2015	FDI cap changed: AXA stake increased to 49%, Bharti: 51%[3]
3. 	2017	Bharti Group takes lead in joint venture operations[4]
4. 	2019	Banca partnership with Karnataka Bank[5]
5. 	2020	5 years strategic roadmap agreed between shareholders[6]
==Products and Services==
Bharti AXA Life offers a diverse range of insurance and investment products aimed at addressing the financial objectives and protection requirements of its clients. The company's product line-up encompasses:
* Savings Plan: Bharti AXA Life's Savings Plans are designed to help individuals save and grow their wealth over time. These plans typically combine life insurance coverage with a disciplined savings component. Policyholders can make regular premium payments, and the plan accumulates a corpus over the policy term. This corpus can be used to meet long-term financial objectives such as purchasing a house, funding a child's education, or planning for retirement. Savings plans often come with the added benefit of providing financial security to the family in case of an unfortunate event.
* Term Insurance: Term insurance policies from Bharti AXA Life offer pure protection. These plans are focused on providing financial security to the policyholder's family in the event of the policyholder's untimely demise. Term insurance is a cost-effective way to ensure that one's loved ones are taken care of in case of an unexpected tragedy. These policies do not have any savings or investment components and are purely designed for life coverage, making them an efficient way to secure the financial future of your family.
* ULIP (Unit Linked Insurance Plans): ULIPs are a blend of insurance and investment. Bharti AXA Life's ULIPs offer policyholders the opportunity to invest their premiums in a variety of investment funds, such as equity, debt, or balanced funds. The performance of these investments directly affects the policy's value. ULIPs provide policyholders with the flexibility to choose how their premiums are allocated among these funds, allowing them to tailor their investment strategy to their risk tolerance and financial goals. Additionally, ULIPs offer life insurance coverage, ensuring both protection and wealth creation.
* Rider Options: Customers have the option to enhance their insurance coverage by choosing from a range of rider options, including but not limited to accidental death benefits and critical illness riders.
==Financial Performance==
For the year ended 31 March 2022, Bharti AXA Life made a total income of Rs. 3543 Cr. The Company's weighted new business premium grew by 25% in FY 2021-22 (Rs. 730 Cr.) over previous year (Rs. 582 Cr.). This growth of 25% was 1.5 times of overall industry growth (16%) and 3% higher than the private industry (22%). Renewal premium (Rs. 1,666 Cr.) grew by ~11% (Rs. 1,498 Cr. in FY 2020-21) resulting in total premium growth of 14% (Rs 2,602 Cr.) in FY2021-22 over previous year (Rs. 2,281 Cr.).
== Advertising and Marketing Campaigns ==
* In May 2023, Bharti AXA Life rolled out phase 1 of project Serv-o-ttam under which 20 policy servicing journeys were re-considered and the project enabled a 360-degree transformation of physical services into digital services.
* In Aug 2022, Bharti AXA Life announced the launch of its integrated campaign as part of the brand’s ‘Do The Smart Thing’ proposition. The multimedia campaign conceptualised by L&K Saatchi & Saatchi features brand ambassador Vidya Balan.
* In June 2022, Bharti AXA Life continued its #SawaalPucho initiative ahead of the National Insurance Awareness Day for the second consecutive year.
* In 2021, the company launched digital tax campaign ‘Ab savings nahi, savEEEngs hogi with Bharti AXA Life’ to increase awareness amongst our customers about the power of ‘3X Tax Exemptions’ by investing in life insurance.
== Key People ==
1. 	Managing Director and Chief Executive Officer 	Parag Raja
2. 	Head-Human Resources 	Dhanashree Thakkar
3. 	Chief Distribution Office, Proprietary 	Murli Jalan
4. 	Chief Financial Officer 	Rikhil Shah
5. 	Chief Customer Officer & Head-marketing, Digital & Online Sales	Nitin Mehta
6. 	Chief Technical Officer 	Pankaj Gupta
7. 	Chief Investment Officer 	Rahul Bhuskute
8. 	Chief Distribution Officer, Partnerships & Group Business 	Sandeep Mishra
9. 	Head, Distribution Transformation 	Sanjay Sabharwal
10.	Chief & Appointed Actuary 	Varun Gupta
11.	Head-Compliance Secretarial & Legal 	Vinod Benedict D’souza
12.	Chief Risk Officer 	Vipul Sharma
==Recent Announcements==
* Feb-22: Bharti AXA Life Insurance Receives Great Place to Work® Certification
* Feb-22: Bharti AXA Life Insurance launches Guaranteed Wealth Pro. Check benefits here
* Mar-22: Bharti AXA Life Insurance ropes in Vidya Balan as brand ambassador
* May-22: BHARTI AXA LIFE INSURANCE NEW BIZ PREMIUM UP 14% TO Rs 2,602 CR IN FY'22
* Aug-22: Bharti AXA Life launches new integrated campaign and sonic brand identity
* Aug-22: Great Learning Partnership
* Sep-23: Bharti AXA Life launches Income Laabh
* Sep-23: Bharti AXA Life launches Emerging Equity Fund 
* Sep-23: Bharti AXA Life Insurance launches Wealth Maximizer -- a return of all charges ULIP plan -- exclusively available on PolicyBazaar
==Awards and recognition==
In May 2019, it won the FICCI Claims Excellence Award.
In December, it bagged the Companies with Great Managers award for 2019.
In March 2020, the company won Finnoviti Award 2020.
Category:Life insurance companies of India
Category:Indian companies established in 2006
Category:2006 establishments in Maharashtra