Tata AIG launches policy for SMEs
The Asian Age — March 13, 2006

Private sector insurer Tata AIG has launched a low premium insurance policy designed for small and medium enterprise segments. The "Small Business Solutions Insurance Policy" would target cooperative housing societies, small hotels, restaurants, shopping malls and small and medium business houses. "The SBS policy is a low premium high volume category, which we are looking to tap in the next one year. Our immediate aim is to target the co-operative housing societies, then we would tap the small and medium business houses and small hotel and restaurants," Tata AIG Small business solutions head N. Sivakumar said.

The company expects to generate more than Rs 35 crores from premium from this product and hopes to garner Rs 15-20 crores from Mumbai and Pune alone, Mr Sivakumar added. The average premium for a society would be in the range of Rs 13,000-Rs 25,000 depending upon the number of flats and the condition of a building.