Business Summary
Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). Tata AIG General Insurance Company Limited celebrated 20 years of service as on 2020, since it commenced operations on January 22, 2001. The company has made a mark in the industry by launching several innovative products and services over the years.
Under its two main business verticals ie Consumer Lines and Commercial Lines, Tata AIG General Insurance Company Limited offers an extensive range of General Insurance covers that cater to various individual and business insurance needs. The products range from Home insurance, Motor Insurance, Travel Insurance, Health Insurance, Rural-Agriculture Insurance etc for individuals under the Consumer Line vertical, and Property & Business Interruption insurance; D&O, Professional and General Liability Insurance; and special products like Reps & Warranties and Environmental Insurance under the Commercial Lines vertical. Each product offering is backed by professional expertise to help the customer along the entire relationship period. Tata AIG General Insurance Company Limited has an empowered claims team, with a in-house capability of 400 plus experts spread across 90 office in India. The customer service team too, which is the face of the company to the customer, comprises of 450 team members, operating from various offices across India.
Tata AIG General Insurance Company Limited's core strength lies in 3 product categories, ie Travel Insurance, Marine Insurance and Liability and the company aims to be the most preferred General Insurance Company in the industry. In order to achieve its vision of being the most preferred general insurance company, Tata AIG General Insurance Company Limited is increasing its general insurance penetration in India with various significant partnerships with leading business names from varied industries.
Tata AIG General Insurance Company Limited has an Asset Under Management (AUM) of approximate Rs. 14,295 Cr (as of September 30, 2020) and a workforce of about 6220 employees present in 200 branches across India. The company's products are available through various channels of distribution such as Agency which has a combined strength of 40,000+ licensed agents and a very strong Broking channel of 437 licensed brokers. The Bancassurance & Affinity team is responsible for initiating and tapping partnerships with Banks, NBFC's, HFC's and other affinity partners. Tata AIG General Insurance Company Limited is also increasing its online presence and has a strategic initiative called ‘Go Digital' that facilitates ease of buying Insurance products in the digital world. It makes the process from sale to policy issuance effortless.
Tata AIG General Insurance Company Limited help its distributors significantly increase their insurance knowledge, the company had established the ‘Tata AIG Academy' in May 2014 with a vision to be a centre of excellence in learning in the General Insurance domain. Its mission is to align the training programs with the strategic business and developmental needs of Tata AIG General Insurance Company Limited as well as to empower employees and partners to succeed in a fast-changing competitive environment.
