Tata AIA Life Insurance Company announces fresh initiatives

BHUBANESWAR: Tata AIA Life Insurance Company said it would make the process of buying and selling life insurance simpler with the introduction of simple techniques and use of modern technologies.

"We will continue to take various initiatives and drive the use of technology to make the process of buying and selling life insurance 'Easy' for both our customers and advisors," Shivdutt Das, Vice President, Product Development, Tata AIA Life, told reporters here.

"Our e-Life version 2 is a bold step in this direction, which has been supplemented with introduction of a series of mobile applications. Our new range of products, to be introduced from January 1, 2014, will further support this cause," he said.

In order to create a win-win situation for new customers as well as advisors, Tata AIA Life would introduce a new Standard Proposal Form for application of all product proposals, Das said.

In line with its operating principle of doing the 'Right thing in the Right way', Tata AIA Life has developed eLife version 2, a fully mobile and secure electronic solution that simplifies the process of buying and selling life insurance solutions, he said.

'eLife version 2' allows the customers to engage with the company with ease, by making the entire buying experience of life insurance simpler and enjoyable.

He said eLife version 2 ushers in the concepts of a 'paperless' and '24 hours' office for our advisors, which enables them to raise their productivity and also to optimally serve their potential customers.

To make the process of buying life insurance hassle-free, Tata AIA Life has introduced a new initiative for existing as well as new customers called 'Express Lane'.

The initiative has enabled Tata AIA Life to issue policies faster to customers after receiving their applications by optimising the requirements of document like age proof, address proof and income proof.

Recently, the company has launched a series of smart phone and smart device applications for the users of mobile and tablet devices.
These five applications - Protection Gap calculator, Retirement Gap calculator, Child Need Planner calculator, Child ULIP plus Term Plan Combo calculator and ULIP Plus Term Plan Combo will motivate 'do-it-yourself' customers to assess their income protection needs and enable income protection planning anytime, anywhere, Das said.