Press ReleaseMumbai, October, 2016: Tata AIA Life Insurance today announced the launch of ‘Revive’, an initiative to reinstate lapsed insurance policies. As part of the scheme, customers will be given waivers on health certificate and interest for selected lapsed policies (subject to underwriting exclusions and other terms and conditions of the policy). The offer will be valid till November 30, 2016.
Often, for a number of reasons, policy holders cannot pay their premiums even after the grace period. The inevitable happens and the insurance policy gets lapsed. Once lapsed, the policy will not provide any benefit or coverage to the consumers, exposing them and their loved ones to financial risks. This is an undesirable scenario dreaded by most policy holders. Tata AIA understands the inconvenience the lapse can cause customers, since sometimes they may fail to pay the premium due to unavoidable circumstances.
In order to protect their customers, Tata AIA Life, through the Revive initiative, will reinstate lapsed policies with premium due from January 1, 2012 with the subject to terms and conditions of the offer. As a mark of its commitment towards its loyal customers, the company has extended the offer even to those policy holders who have not paid their premium after 4th policy year.
Commenting on the Revive campaign, Amitabh Verma, Chief Operating Officer, Tata AIA Life said, "Revival of life insurance policy is like extending a helping hand for policyholders to safeguard their families financially along with the benefit of no additional premium cost. It is an opportunity for all those who were unable to pay their premium on the due date. The initiative is a part of our endeavours to reduce the protection gap in the country and simplifying processes for better customer experience."
Tata AIA Life has introduced a host of initiatives to improve the customer experience. These initiatives include introduction of a service charter where the customers are promised pre-defined timelines to address proposal processing, service request, pay-out process, claim processing and grievance redressal. Addressing grievances, an important step in enhancing customer experience, also provides valuable consumer insights, which can be used to boost customer satisfaction. Keeping this in mind, the company has devised a robust escalation matrix to help the customers manage their policies and connect with senior management of the company effectively in the time of major grievances.
The initiatives taken by Tata AIA Life in the area of claim settlement have translated into promising results. The organisation has registered an individual claim settlement ratio of 96.8 percent for FY15-16, which is one of the best in the private life insurance sector in India. This is an improvement from the previous year’s 94.5 percent. The Company has also gone the extra mile to ensure that all the claims received were decided by the end of the financial year, leaving no instance of an outstanding claim.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in Asia Pacific. Tata AIA Life has written retail new business weighted premium of Rs. 344 crore in the first half of FY 17, which represents a growth rate of 102 percent over previous year. As of Sep 30, 2016, the 13th month persistency of the company stands at 80.5 percent. At the end of FY 16, the retail claims settlement ratio of the company was 96.8 percent.
About Tata
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising over 100 independent operating companies. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2014-15, the revenue of Tata companies, taken together, was $108.78 billion. These companies collectively employ over 600,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors and shareholders. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of about $116.41 billion (as on March 31, 2016). Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$168 billion as of 30 November 2015.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").
For further information contact:
Arunava Khan
Head - Corporate Communications
Tata AIA Life Insurance Co. Ltd.
Phone: + 91 98205 35436
E-mail - arunava.khan@tataaia.com
Disclaimer:
IRDA of India clarifies to public that
Mumbai, 17 October, 2016: As caregivers, it is only natural to want the best for our loved ones. We do everything in our capacity to safeguard their aspirations against any financial upheavals that may play spoilsport. But our lives are fraught with uncertainties,and it is difficult to predict what the future holds. What we need is a safety shield to ensure that our family’s needs are never compromised.
Keeping this in mind, Tata AIA Life launchedthree new products, Tata AIA Life Sampoorna Raksha - anon-linked non-participating term assurance plan, Tata AIA Life Sampoorna Raksha+ - anon-linked non-participating term assurance planwith return of premium on maturity, and Tata AIA Life Vital Care Pro, anon-linked non-participating health insuranceplanto help the customers protect their families from financial dependency in case the earning member is no more or is rendered incapable by critical illness. All the three solutions guarantee a lumpsum benefit with options to choose regular monthly income,ensuringone’s loved ones would meet all their life goals without worrying on daily needs at any point.
According the Asia Pacific Mortality Protection Gap*Report published by Swiss Re, there existsa big gap in insurance coverage in Indian households. The report estimated that the gap was $8,555 billion in 2014. This means for every $100 needed for protection, only $7.8 of saving and insurance is in place for a typical Indian household, leaving a massive mortality protection gap of $92.2.It is evident from thisstartling gap that there is a pressing need for long-term savings and protection solutions in the country.
Focusing on the need ofadequate life insurance, which ensures a stable financial future for one’s family,Rishi Srivastava, Chief of Proprietary Channels, Tata AIA Life said, “People are usually underprepared to deal with adversities because they are generally caught up in planning for their future. Our newly-launched products will not only help customers lay the foundation of well-planned financial future, but also secure sustenance in case of unforeseen circumstances. Our well-trained sales force helps customer calculate actual coverage needed to live a financially secured future without compromising on theiraspirations.”
With a wide range of policy terms starting from 10 years and going to as high as 40 years, coupled with the maximum maturity age of 80 years, Sampoorna Raksha maximises the life insurance coverage period of an individual’s lifetime. The consumers have the flexibility to choose a lump sumbenefiton death along with a regular monthly income. They can also opt for increasing life cover. It offers preferential premium rates for women and people with leading a healthy lifestyle.
Sampoorna Raksha+is aterm assurance plan with return of premiums on maturity.Like Sampoorna Raksha, this plan enables flexibility to the customers to opt for lump sum benefit on death along withmonthly income for next tenyears.One can choose to pay the premium for a limited period of fiveto tenyears.
Changing lifestyles and an exponential increase in medical expenses may put people in a vulnerable state of financial planning. Vital Care Pro is aimed at protecting the customers and their loved ones from such harsh uncertainties.The product offers protection against 15 critical illnesses. Furthermore, the product offers premium rate guarantee for the entire policy term, which can be as long as 30 years. With a hassle-free purchase experience and affordable premiums, the plan also empowers its customers to protect their spouses.
* Swiss Re’s 2015 Mortality Protection Gap Report
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in Asia Pacific. Tata AIA Life has written retail new business weighted premium of Rs. 344 crore in the first half of FY 17, which represents a growth rate of 102% over previous year. As of Sep 30, 2016, the 13th month persistency of the company stands at 80.5%. At the end of FY 16, the retail claims settlement ratio of the company was 96.8%.
About Tata
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising over 100 independent operating companies. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2014-15, the revenue of Tata companies, taken together, was $108.78 billion. These companies collectively employ over 600,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors and shareholders. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of about $116.41 billion (as on March 31, 2016). Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$168 billion as of 30 November 2015.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
For further information contact:
| Arunava Khan Tata AIA Life Insurance Contact details:98205 35436 e-mail - arunava.khan@tataaia.com | Neha Patil Perfect Relations Contact details: 9619506683 e-Mail: prtalic@perfectrelations.com |
DISCLAIMER:
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS –
|
The company records its best ever individual claim settlement ratio
Mumbai, 28th July, 2016: Enhancing customer experience is at the heart of Tata AIA Life Pvt. Ltd.’s (Tata AIA Life) efforts to foster customer satisfaction. With a view to reinforce its belief of ‘Making good happen’ for its customers and to provide the ‘Ease of doing business’ for them, the company has introduced a host of initiatives to improve its customer experience.
These initiatives include introduction of a service charter where the customers are promised pre-defined timelines to address proposal processing, service request, payout process, claim processing and grievance redressal. Addressing grievances is an important step in enhancing customer experience; it also provides valuable consumer insights, which can be used to boost customer satisfaction. Keeping this in mind, the company has devised a robust escalation matrix to help the customers manage their policies and connect with senior management of the company effectively in the time of major grievances.
The initiatives taken by Tata AIA Life in the area of claim settlement have translated into promising results. The organisation has registered an individual claim settlement ratio of 96.8 percent for FY15-16, which is one of the best in the private life insurance sector in India. This is an improvement from the previous year’s 94.5 percent. The Company has also gone the extra mile to ensure that all the claims received were decided by the end of the financial year, leaving no instance of an outstanding claim.
Amitabh Verma, Chief Operating Officer , Tata AIA Life Insurance, accredited the achievement to the company’s robust processes. He said, “Our focus on ‘Ease of doing business’ and creating value for customers has motivated us to reinvent our services time and again. Our bottom-up approach, armed with technology, helped us understand the needs of our customers and find best possible solution for them.”
Another one of Tata AIA Life’s initiatives that has enhanced customer experience is its timely settlement of death claims. As a policy, Tata AIA Life settles all death claims on policies that have been in force for three continuous years within eight working days from receipt of all claim documents. If it is delayed due to any reason, the company pays 6 percent interest per annum on the claim amount.
Tata AIA Life’s prudent risk management policies have ensured that it delivers on its promise to pay claims. Other than timely payment of claims, Tata AIA has also taken various measures to make the process easy and efficient. Claimants can contact Tata AIA, either through its helpline, or through emails letters and web site; or inform the respective branch about their claims. The Tata AIA claims team gets in touch with them to complete the documentation. The claimants can then track their claims online on Tata AIA’s website. In addition to this, regular SMS notifications are sent to the claimant about status of their claims. The company has the claim forms available in 11 regional languages to make the filing more convenient for the customer.
Recently the Company launched of two mobile applications– Good Solutions and Good Friend, to simplify the process of buying and selling insurance. The former, Good Solutions, is a pre-sales app equipped with features such as customer goal-setting, solution recommendation and policy. The latter, Good Friend, is a post-sales app with sections for individual advisors; contest & convention updates; renewal & commission details; policy level enquiries; new business details with stages; and multifunction contact options for calls, SMS and e-card (wishing customers).
To proactively address queries of the customers about their life insurance needs and to engage with them better, the company has introduced a special engagement programme called Face to Face. The customers are invited to their nearest Tata AIA Life branch on a pre-defined date every month through SMS and emails for the programme, which is organised in key branches across the country. The focus of this engagement activity is to update the customers about various services that help them in managing their policies effectively along with updating them about newly launched services.
These robust services that have been set in place by Tata AIA Life have helped the organisation maximise customer satisfaction thereby boosting customer experience for its patrons.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in Asia Pacific.
About Tata
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising over 100 independent operating companies. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2014-15, the revenue of Tata companies, taken together, was $108.78 billion.
These companies collectively employ over 600,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors and shareholders. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of about $116.41 billion (as on March 31, 2016). Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels .
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$168 billion as of 30 November 2015.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
For further information contact:
Arunava Khan
Tata AIA Life Insurance
Handphone:98205 35436
E-mail - arunava.khan@tataaia.com
Disclaimer:
13th, April, 2016, Mumbai: Tata AIA Life Insurance Pvt. Ltd. (Tata AIA Life) , the life insurance joint venture promoted by the Tata Group and AIA Group, has been recognised by Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), as a Best Employer for the year 2016. The Aon Best Employers Programme measures and recognises employer excellence worldwide.
"We are truly excited to receive this prestigious recognition. We are proud that we are the only Life Insurer in the country to receive the award this year. In a service industry like ours employees are our only assets. Happy and motivated employees make for happy consumers and distributors. We will continue to build an organisation which respects integrity, is consumer oriented, celebrates innovation and nurtures entrepreneurship." Said Kristyl Pais Bhesania, Senior Vice President & Head of Human Resource, Tata AIA Life. "At Tata AIA Life, good is at the heart of everything we do. Daily, our employees stretch that extra mile and go beyond to make good happen for our customers and our distribution forces, and we are committed to them. This award generates energy and motivation to further provide a delightful experience to our consumers and distributors," She added further.
The Aon Best Employers India 2016 study covered 113 companies, cumulatively employing approximately 950,000 employees. A rigorous analysis is run to measure the alignment between intent, design and experience, assessed through:
Tata AIA Life has taken several initiatives to ensure that its employees enjoy their job, understand clear business goals and deliver to the optimum. The company strongly believes that 'pleasure in the job puts perfection in the work'. The Company has an innovative performance management and recognition process that ensures that the employees consistently deliver on time with the highest quality.
"We congratulate Tata AIA Life Insurance on being adjudged an Aon Best Employer. In the difficult times that the insurance industry is going through, Tata AIA ensures due focus on existing talent through nimble and effective practices. Creating a cohesive work environment as indicated by employees in such difficult times is true testimony to being a Best Employer," Tarandeep Singh, Partner, Talent and Performance Consulting, Aon Hewitt (India)
With more than 15 years of experience in best employer studies across the world, and backed by more than 20 years of experience in employee research, the Aon Best Employers programme compares organisations to identify those that strive to create a competitive advantage through their people and become employers of choice.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in Asia Pacific.
The Aon Best Employers programme is a global study which was first conducted in 2001. In Asia, it is run in 12 markets: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand, Australia and New Zealand. Participation in the programme helps define what makes a winning workplace.
The Aon Best Employers India 2016 Study, in partnership with BW Businessworld and Bloomberg TV India, covered 113 companies across 12 industries, cumulatively employing approximately 950,000 employees.
A rigorous analysis is run to measure the alignment between “Intent-Design-Experience” assessed through CEO survey and interview, people practices survey and employee opinion survey for all participating organisations. A shortlisted set is taken through an intense on-site audit to validate the details provided. Client names are masked during this process, and revealed to the jury only post final selection. An external panel of unbiased jury comprising corporate and academic community evaluated the participants and arrived at the final list of India’s 25 Best Employers of 2016.
About AonAon plc (NYSE:AON) is a leading global provider of risk management, insurance and reinsurance brokerage, human resources solutions, and outsourcing services. With more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: http://aon.mediaroom.com
For further information contact:
Arunava Khan
Tata AIA Life Insurance
Handphone:98205 35436
E-mail - arunava.khan@tataaia.com
Saksham Maheshwari
Adfactors PR Pvt. Ltd.
Handphone:9930990927
E-mail - saksham.maheshwari@adfactorspr.com
Disclaimer:
Mumbai, 29th July, 2015: Tata AIA Life Insurance Company Limited (Tata AIA Life) announces the launch of one-of-its-kind saving solution Tata AIA Life Insurance Fortune Guarantee (Fortune Guarantee). The product offers guaranteed return* to the customers to help them achieve their financial goals.
Fortune Guarantee is a unique solution wherein the customer pays premium only for 5 years and reaps the guaranteed benefit at the end of 10th policy year. Besides, the product offers 10 times life cover of the annualized premium. It also offers higher maturity benefit for female lives.
Additionally, the customer has the flexibility to enhance the protection by adding Tata AIA Life Insurance Accidental Death and Dismemberment (Long Scale) rider.
Mr. Ravi Vishwanath, Deputy CEO, Tata AIA Life said, "In the era of complex life insurance products, here is an easy-to-understand yet highly rewarding product, which is specifically designed to guarantee medium term financial goals. This product not only offers compelling value proposition for young professionals who are look for a lump sum for life's important goals but also, for those eyeing a solution to secure their golden years. With only 5 years premium payment term, high guaranteed returns at maturity and 10 times life cover makes the product extremely appealing for the customers."
* Condition apply
Tata AIA Life Insurance Company Ltd.About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spanning 17 markets in Asia Pacific. Tata Sons holds a majority stake (74 per cent) in the company and AIA holds 26 per cent through AIA International Limited. Tata AIA Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.
About Tata
The Tata group's core purpose is to improve the quality of life of the communities it serves globally, through long-term stakeholder value creation based on leadership with trust.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise headquartered in India, and comprises over 100 operating companies, with operations in more than 100 countries across six continents, exporting products and services to over 150 countries. The revenue of Tata companies, taken together, was $103.27 billion (around Rs624,757crore) in 2013-14, with 67.2 percent of this coming from businesses outside India. Tata companies employ over 581,000 people worldwide.
Good corporate citizenship is part of the Tata group's DNA. Sixty six percent of the equity of Tata Sons, the promoter holding company, is held by philanthropic trusts, thereby returning wealth to society. As a result of this unique ownership structure and ethos of serving the community, the Tata name has been respected for more than 140 years and is trusted for its adherence to strong values and business ethics..
Each Tata company or enterprise operates independently and has its own board of directors and shareholders, to whom it is answerable. There are 32 publicly-listed Tata enterprises and they have a combined market capitalisation of about $131.6 billion (as on January 15, 2015), and a shareholder base of 3.9 million. Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
About AIA
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has operations in 17 markets in Asia-Pacific - wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$159 billion as of 31 May 2014.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 28 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").
For further information contact:
Arunava Khan
Tata AIA Life Insurance
Handphone:98205 35436
E-mail - arunava.khan@tataaia.com
Saksham Maheshwari
Adfactors PR Pvt. Ltd.
Handphone:9930990927
E-mail - saksham.maheshwari@adfactorspr.com
Disclaimer:
Mumbai, 5th May, 2015: Tata AIA Life Insurance Company Limited (Tata AIA Life) announced the launch of the unique Tata AIA Life Money Back Plus (Money Back Plus), a savings solution that offers customers money back in both short and longer term intervals along with bonuses. The premium paying term is only half of the policy term, and the plan offers protection solution including built-in double coverage for accidental death.
Money Back Plus is structured into three equal tranches totaling 20% each of sum assured to take care of short term goals. In addition, a lump sum payment at maturity, which can be as high as an additional 70% sum assured, plus compounded bonus and terminal bonus takes care of medium to longer term goals.
Ravi Vishwanath, Deputy CEO of Tata AIA Life, said, "In line with our belief of 'Making Good Happen', we have launched Money Back Plus. From School to College to Car to Marriage, Money Back Plus will help our customers Make Good Happen for the ones they love."
* Starting from 4th, 5th and 6th policy year respectively at an equal interval throughout the policy term subject to plan option selected.
Tata AIA Life Insurance Company Ltd.About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spanning 17 markets in Asia Pacific. Tata Sons holds a majority stake (74 per cent) in the company and AIA holds 26 per cent through AIA International Limited. Tata AIA Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.
About Tata
The Tata group's core purpose is to improve the quality of life of the communities it serves globally, through long-term stakeholder value creation based on leadership with trust.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise headquartered in India, and comprises over 100 operating companies, with operations in more than 100 countries across six continents, exporting products and services to over 150 countries. The revenue of Tata companies, taken together, was $103.27 billion (around Rs624,757crore) in 2013-14, with 67.2 percent of this coming from businesses outside India. Tata companies employ over 581,000 people worldwide.
Good corporate citizenship is part of the Tata group's DNA. Sixty six percent of the equity of Tata Sons, the promoter holding company, is held by philanthropic trusts, thereby returning wealth to society. As a result of this unique ownership structure and ethos of serving the community, the Tata name has been respected for more than 140 years and is trusted for its adherence to strong values and business ethics..
Each Tata company or enterprise operates independently and has its own board of directors and shareholders, to whom it is answerable. There are 32 publicly-listed Tata enterprises and they have a combined market capitalisation of about $131.6 billion (as on January 15, 2015), and a shareholder base of 3.9 million. Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
About AIA
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has operations in 17 markets in Asia-Pacific - wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$159 billion as of 31 May 2014.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 28 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").
For further information contact:
Arunava Khan
Tata AIA Life Insurance
Handphone:98205 35436
E-mail - arunava.khan@tataaia.com
Saksham Maheshwari
Adfactors PR Pvt. Ltd.
Handphone:9930990927
E-mail - saksham.maheshwari@adfactorspr.com
Disclaimer:
IRDA of India clarifies to public that
Mumbai, 4th March, 2015: Taking our belief forward of 'Making good happen' to our customers Tata AIA Life Insurance today announces the launch of 'Revive', a special drive to reinstate lapsed insurance policies. As part of the endeavour, the customers of Tata AIA Life (subject to terms and conditions of the offer period) shall not be charged any interest to renew their life insurance policies.
This initiative, valid till March 31, 2015 is extended to select customers whose premium due date is between April 2012 to January 2015 (subject to terms and conditions). The customers do not require to submit any health declaration certificate for reinstatement
Commenting on the Revive Campaign, Amitabh Verma, Chief Operating Officer, Tata AIA Life said, "Revive is a part of our ongoing endeavour to make good happen to our customers. As we find from our records, many customers miss paying their renewal premium after buying the policies. Therefore, they not only let go of the value of the benefit of this effective financial instrument but also their life insurance protection cover. Revive will provide an opportunity to our customers to renew their life insurance policy with the additional benefit of 100% interest and health certificate waiver during this period."
Tata AIA Life has been taking several initiatives to ensure that the customers are able to pay the premium with convenience, thereby, ensuring their Protection cover is continued. The Company organises monthly customer service camps called Face to Face at its branches. The customers are invited to visit their nearest Tata AIA Life branch on a pre-defined date every month by way of SMS and emails. The focus of this engagement activity is to update the customers about various services that help them in managing their policies effectively along with new services launched. In Kolkata, the customer service camp will be organised in the 2nd week of March.
Tata AIA Life Insurance Company Ltd.About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata's pre-eminent leadership position in India and AIA's presence as the largest, independent listed pan-Asian life insurance group in the world spanning 17 markets in Asia Pacific. Tata Sons holds a majority stake (74 per cent) in the company and AIA holds 26 per cent through AIA International Limited. Tata AIA Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.
About Tata
The Tata group's core purpose is to improve the quality of life of the communities it serves globally, through long-term stakeholder value creation based on leadership with trust.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise headquartered in India, and comprises over 100 operating companies, with operations in more than 100 countries across six continents, exporting products and services to over 150 countries. The revenue of Tata companies, taken together, was $103.27 billion (around Rs624,757crore) in 2013-14, with 67.2 percent of this coming from businesses outside India. Tata companies employ over 581,000 people worldwide.
Good corporate citizenship is part of the Tata group's DNA. Sixty six percent of the equity of Tata Sons, the promoter holding company, is held by philanthropic trusts, thereby returning wealth to society. As a result of this unique ownership structure and ethos of serving the community, the Tata name has been respected for more than 140 years and is trusted for its adherence to strong values and business ethics..
Each Tata company or enterprise operates independently and has its own board of directors and shareholders, to whom it is answerable. There are 32 publicly-listed Tata enterprises and they have a combined market capitalisation of about $131.6 billion (as on January 15, 2015), and a shareholder base of 3.9 million. Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.
About AIA
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has operations in 17 markets in Asia-Pacific - wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$159 billion as of 31 May 2014.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 28 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").
For further information contact:
Arunava Khan
Tata AIA Life Insurance
Handphone:98205 35436
E-mail - arunava.khan@tataaia.com
Disclaimer:
IRDA of India clarifies to public that