Tata Digital Launches Tata AIA’s Life Insurance Products on the Tata Neu App

Witnesses Encouraging Response, with INR. 250 Million ANP in the First 90 Days

National, October 15, 2024: Tata Digital, in association with Tata AIA Life Insurance, has introduced a comprehensive range of life insurance products on its platform, Tata Neu*. This strategic move reinforces Tata Neu's position as a one-stop-shop for customers' financial needs.

To enhance the customer experience, the insurance buying process has been streamlined to just three clicks. Backed by customer data and insights, pre-approved offers are instantly presented, eliminating the need for elaborate documentation. Policy documents are then issued seamlessly and sent via email within seconds, providing a quick and seamless purchase journey. Consistent with Tata Neu’s reward proposition, customers can also earn NeuCoins, which can be redeemed across the Tata ecosystem, with additional benefits for Tata Neu HDFC Credit Card holders.

Leveraging Tata Neu's digital capabilities, users can now seamlessly access a wide range of Tata AIA’s life insurance solutions tailored to their specific requirements. These include:

• Term life insurance solutions such as Maha Raksha Supreme Select with pre-approved sum assured of up to INR 2 crore, can now be purchased in a few clicks
• Wealth creation plans wherein customers can choose from over 10 Tata AIA equity funds. Notably, these funds have consistently outperformed their benchmark. Customers can do multiple fund switches without incurring any charges
• Other products to be offered soon include Fortune Guarantee Pension, which provides guaranteed income for life after retirement

Amreesh Kher, Chief Business Officer, Insurance, Tata Digital, expressing his enthusiasm for the collaboration, said, "Our partnership with Tata AIA Life Insurance marks a significant milestone for financial services on Tata Neu. The incredible response that we have seen in the first few days is a testament to the demand for accessible, affordable, and top-tier life insurance solutions. We're empowering our customers to protect their assets and build wealth in a convenient and secure manner. Tata Neu's user-friendly platform and digital capabilities provide the perfect channel to reach a wide range of customers and offer them tailored solutions that meet their specific needs."

Jeelani Basha, President and Chief Distribution Officer, Alternate & Emerging Channels, Tata AIA added, "We are delighted to have our consumer centric solutions available on Tata Neu. This will enable us to make life insurance easily accessible to today’s digital native consumers through their preferred shopping platform, Tata Neu. We are committed to offering new age financial protection and wealth accumulation opportunities to Tata Neu’s consumers, thereby empowering them to live fikar-free."

Tata Neu has become a preferred e-commerce app for millions of consumers, offering products across grocery, consumer durables, electronics, travel, hospitality etc. With the addition of life insurance solutions, Tata Neu further strengthens its position as a comprehensive financial services platform.

Tata AIA Life Insurance is a leading life insurance company in India, offering a diverse range of solutions including term cover, savings plans, investment plans, and retirement solutions.

*All insurance products on Tata Neu are offered by Tata Fintech Pvt. Ltd. a wholly owned subsidiary of Tata Digital Pvt. Ltd.