Tata AIA Life Insurance opens 100 New Digitally Enabled Branches in major distribution thrust
Kolkata, Oct 25 (UNI) Tata AIA Life Insurance (Tata AIA Life) is adding 100 new branches to
expand its distribution reach across the country.
The Insurer currently has over 218 branches across 25 states and 175 cities of the country,
while having a strong presence in the agency, broking, bancassurance, assisted purchase and
online space, according to a statement here today.
Through this expansion, the Insurer will expand its reach significantly in over 18 Indian states, especially Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, and West Bengal. Over 60 of the 100
new digitally enabled branches have already begun operations, with the remaining to become operational by end of October’21.
The step is part of Tata AIA Life’s business growth strategy to expand its distribution as well as customer connect points and contribute to industry efforts towards increasing life insurance
penetration in the country. The expansion is expected to contribute to significant growth.
Each branch has been enabled with digital solutions and processes to facilitate contactless
customer service and paperless operations. Customers can interact with branch officials through
video calls or if visiting the branch, can avail of a self-service digital kiosk, to get their needs
serviced and queries addressed. Such digitization of physical branches will also help in sustaining physical distancing protocols.
Speaking on the occasion, Naveen Tahilyani, MD & Chief Executive Officer, Tata AIA Life
Insurance, said, “More and more consumers are realising the need to avail protection and
savings-oriented solutions today, as we navigate these challenging times. Amid this scenario,
we, at Tata AIA, are making sure that we can service consumers through various modes,
especially through conveniently located branches in emerging locations. Given that these
branches are digitally enabled, they will allow us to meet the evolving needs of the new age
consumers, while also supporting the Government’s efforts to deepen life insurance
penetration and maintain safety protocols and procedures with regards to the continuing
pandemic.”
Amit Dave, Chief Agency Officer, Tata AIA Life Insurance, added, “70 out of the 100 new
digitally enabled are being introduced in locations where we do not have an existing agency
distribution setup. This will enable us to expand our reach and offer our protection & saving
related solutions to the local populace in these markets. Importantly, the move should lead
to generation of over 10,000 jobs, directly with employees on payroll and indirectly as
bringing onboard digitally enabled and highly trained life insurance advisors.”