Leveraging the power of the Internet, Tata AIG Life Insurance Company Limited has collected life insurance premium to the tune of over Rs 50 lakh. In a short span of nine months (starting March 2004), the company has sold premium life insurance products: MahaLife, MahaLife Junior Gold, Nirvana and HealthFirst via the Internet, using it as an effective sales channel. 

Ian J. Watts, managing director, Tata AIG Life Insurance, said, "Transaction via the Internet is fast becoming a convenient way of doing business. It reflects a company's ability to add value to its sales and distribution capabilities." 

At present, Tata AIG Life fulfils the insurance, savings and pensions needs of the insurable population across India through multiple distribution channels. In addition to its battery of over 23,000 personal financial advisors, Tata AIG Life offers insurance products and services through 30 offices across 19 cities, direct marketing, brokers, corporate agents and Bancassurance partners — HSBC, United Bank of India and The Orissa State Co-operative Bank. Tata AIG Life has now added the Internet to its armory of distribution channels.