VOICE Survey reveals Tata AIG Life Insurance as a clear winner in the life insurance category
May 10, 2006

A recent survey conducted by the Voluntary Organisation In Interest of Consumer Education (VOICE) revealed Tata AIG Life Insurance Company (Tata AIG Life) as the clear winner in terms of customer satisfaction in the life insurance category. This is India's first-ever customer satisfaction study for the insurance sector.

The survey also revealed that Tata AIG Life had a high recall as a reputed brand name. The ability to provide innovative and customer-focused service such as allowing the maximum grace period for premium payment has not only further distinguished Tata AIG Life from other life insurance companies but also appealed to consumers.

Commenting on the survey results,  Trevor Bull, managing director, Tata AIG Life Insurance Company, said, "The quest of the company has always been to be the best at what we do rather than adopting a simplistic market share at all costs approach. Achieving this VOICE recognition required huge effort from Tata AIG Life team; however retaining the number one position will be tougher. Being ranked the best in the life insurance category by an independent consumer group is an encouraging and fitting manifestation of our successful completion of five years of service in the insurance industry. We look forward to the challenges that lie ahead and are confident of maintaining and improving further our current standards of service and efficiency."

The survey, which was conducted across eight cities and covered around 1,250 life insurance customers, evaluated the different life insurance companies on the parameters of tangibility, problem solving ability, reliability, responsiveness, assurance and empathy. The objective of the survey was to understand and measure overall customer satisfaction within the insurance sector.

The Voluntary Organisation In Interest of Consumer Education (VOICE) is a voluntary action group, whose objective is to protect and further the interests of the consumer.

(Source: CONSUMER VOICE, Vol. 7, Issue 3 May-June 2006)

About Tata AIG Life Insurance Company Ltd.
Tata AIG Life Insurance Company (Tata AIG Life) is a joint venture company, formed by the Tata Group and American International Group, Inc (AIG). Tata AIG Life combines the Tata Group's pre-eminent leadership position in India and AIG's global presence as the world's leading international insurance and financial services organisation. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent. Tata AIG Life provides insurance solutions to individuals and corporates. Tata AIG Life Insurance Company was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

The Tata Group
The Tata Group is one of India's largest and most respected business conglomerates, with revenues in 2004-05 of $17.8 billion (Rs 799,118 million), the equivalent of about 2.8 per cent of the country's GDP. Tata companies together employ some 215,000 people. The Group's 32 publicly listed enterprises — among them standout names such as Tata Steel, Tata Consultancy Services, Tata Motors and Tata Tea — have a combined market capitalisation that is the highest among Indian business houses in the private sector, and a shareholder base of over 2 million. The Tata Group has operations in more than 40 countries across six continents, and its companies export products and services to 140 nations.

American International Group Inc (AIG)
American International Group, Inc (AIG), world leaders in insurance and financial services, is the leading international insurance organisation with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.