Tata AIA Life Insurance Company (Tata AIA Life) is a JV between Tata Sons and AIA Group Limited (AIA). Tata AIA Life combines the Tata group’s pre-eminent brand strength and leadership position in India and AIA’s expertise and presence in 18 markets across the Asia- Pacific region.
The company offers a comprehensive and innovative suite of protection and long-term savings products.
It is one of the fastest growing life insurers in India that has been profitable since FY 2011.
Tata AIA Life is the fifth largest private Life Insurer amongst 23 private life insurance players in India, on Individual Weighted New Business Premium (IWNBP) basis, with an annual growth of 21% in FY20
- Recorded highest growth among top 10 Life Insurance players (21% YoY growth versus the private industry’s growth of 5%).
- Best-in-class in terms of individual protection business mix (28% of Annualized Premium Equivalent). Retail protection premium grew by 1.8X over FY19.
- A highly successful omni-channel distribution strategy lending width and depth to the distribution model.
- Continued excellence in customer-service with individual claims settlement ratio at 99.1% (one of the best in the industry) and 13th month persistency at 89.1%
- Highest Employee Engagement score at 87. Awarded AON Best employer for fourth consecutive year