TATA AIA Life has joined hands with TTSL to launch M-Insurance which brings economically weaker sections under the insurance cover.
This provides life insurance cover of up to INR 100000 for telecom firm's prepaid subscriber base in AP and Telangana as a pilot offer on select recharges.
About 80 per cent of India's population that is buying pre-paid services is form low income groups.
The m-Insurance product brought about by the TATA Group is in alignment with the IRDAI and the government objective of reaching out to that very section of society.
This cover incorporates three things - offering protection at an affordable price, reaching out to maximum number of people, and offering simple claim settlement.
A plan like m-Insurance uses technology to cut distribution and service costs, thereby bringing protection to those who would otherwise find it unaffordable.
Tata AIA Life Insurance is a joint venture between Tata Sons and AIA Group (AIA), independent listed pan-Asian life insurance group spanning 18 markets in the Asia Pacific region.
TATA Sons: Know More- Headquarters: Mumbai
- Founder: Jamsetji Tata
- Founded: 1917
- Type of business: Private
