In what potentially stood as a major fillip to its insurance coverage, TATA AIG, one of the major general insurance players in India, announced entry into a strategic partnership with the country’s leading non-banking financial company, Mahindra Finance. This will help TATA AIG to sell its non-life insurance products to a large base of Mahindra Finance customers through their far-flung distribution network.
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Under this association, TATA AIG will bring a fine bouquet of general insurance products including motor insurance, health insurance, personal accident insurance and many other offerings under the broad spectrum of non-life insurance solutions. These products have been styled at various levels to offer comprehensive protection and financial security to individuals and families at large in their entirety from all walks of life spread across various regions of India.
Neelesh Garg, Managing Director & CEO, TATA AIG General Insurance Co. The Pune-based company Ltd. has said that this partnership will make insurance products more accessible. Shah added that this association with Mahindra Finance is in the right direction toward making their insurance products more accessible. With a strong base of good corporate governance and a value system as their guiding force, they will ensure timely and customized solutions that address the divergent needs of their partners, providing overall protection and financial security.
Raul Rebello, Managing Director & CEO, Mahindra Finance, said that it was a big step in their commitment towards facilitating agile and efficient products, powered with personalized customer experience, towards being a responsible financial solution partner to Emerging India.
The deal will focus on offering customer-oriented insurance products in an effort to meet the broad diversity of needs for Mahindra Finance’s wide customer base. TATA AIG insurance products will be seamlessly delivered through the robust distribution network that Mahindra Finance has over 1,370 offices, reaching out to customers in 380,000 villages and 7,000 towns across India.
This will significantly enhance the reach of TATA AIG’s non-life insurance products, making them far more accessible to a larger segment of the target market. This alliance is based on a platform of good corporate governance, which incorporates a very stringent value system that helps deliver insurance products tailor-made to meet the varied needs of customers.
TATA AIG General Insurance Company Limited is a joint venture between the TATA Group and American International Group, commonly known as AIG. It provides various insurance products and services to protect all classes of people and businesses effectively, thereby offering security to them.
This will, therefore, give far greater reach and coverage to non-life insurance products, cover more people, and protect the interests of many more individuals and families across India through this strategic tie-up between TATA AIG and Mahindra Finance.
