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Our Bureau

Kochi, Aug. 17 Taking significant steps towards a deeper engagement with Kerala, Tata AIG Life Insurance Company Ltd (Tata AIG Life) has announced a slew of initiatives in the State.

It has embarked on a massive expansion plan with the launch of 11 offices focussing more on the smaller cities and towns in the State. This increases its branch network in Kerala to 32 offices.

The 11 new offices will be located in Perinthalmanna, Tiruvalla, Irinjalakkuda, Thrissur, Kottayam, Vadagara and Kozhikode, apart from two offices each at Kochi and Thiruvananthapuram.

Tata AIG Life will also be increasing its advisor network with aggressive recruitment to offer its insurance solutions to customers and service their needs over the long run. To provide its existing and future customers free emergency health care support, Tata AIG Life has tied up with “1298 Dial for Ambulance”.

About 15 ambulances offering this service will be available from September in the four districts of Alleppey, Ernakulam, Kottayam and Thrissur. Plans are on the anvil to add 20 more ambulances and extend reach to other districts by February 2009.

The company has also been actively pursuing its Micro Insurance (MI) initiatives in the State by unique partnerships with civil society organisations. This has resulted in 100 per cent insured villages in Idduki – the first of its kind in the country.

The insurer has three MI products, which provide financial protection exclusively to the rural poor. Nationally, Tata AIG Life’s MI programme has witnessed significant participation from the rural poor resulting in over 200 per cent growth both in terms of policies and premium.

Mr Joydeep Roy, Chief Distribution Officer, Tata AIG Life, said, “The company identified Kerala as a key market for our overall growth strategy and as the gateway to an extensive footprint in the southern region. Setting up the ambulance service network and pushing micro insurance initiatives are steps towards sustaining our engagement with the State.”

Mr Vijay Athreye, Vice President & Head – Rural & Micro insurance, Tata AIG Life, said that the MI products provide financial security to low-income communities in rural India with viable insurance at premiums as low as Rs 5 per month.

More Stories on : Life Insurance | Kerala

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