Tata AIG Life:

Tata AIG Life Insurance was established in 2001 and is a combined venture between Tata Sons which holds 74 per cent of the stakes and the American International Group Inc (AIG) which holds the remaining stakes of 26 per cent.

It is considered as the world’s leading International Insurance and financial services company. The company provides insurance services to groups, individuals and corporate sectors such as Life insurance solutions which include Endowment and term, pension and group life, money back and whole-life plans, Micro insurance which comprises of Customised solutions catering to the needs of the underprivileged sections of the country and Health insurance

Tata AIG Life Insurance has its operating offices based in Mumbai, along with additional offices in Delhi, Bangalore, Kolkata, Chennai, and Hyderabad. It is considered to be the first company to launch NEFT method of payment for renewal premiums in the insurance industry.

The company tied up with Citibank to bag this name and to offer the online payment alternative, where Citibank’s modified offering allows Tata AIG Life policyholders to make payments for the renewal of the policy premium through the online banking facility directly from their own bank accounts with any bank branch across the country that is NEFT-enabled.

With more than 57,000 branches initiating the NEFT plan, this channel will become the preferred method for making C2B payments in the near future.

The company has also announced a tie up with the Madhya Pradesh and Andhra Pradesh Governments to initiate a portal which will provide services for collection of premium related to life insurance policies issued by Tata AIG Life Insurance to different customers in these states.

Tata AIG Life Insurance aims at providing services and products which will help enhance upon their growth as a leading company in India and provide a platform where citizens get a clearer picture of their investment policies to lead a better and hassle free life.