Project Report on Tata-Aig Life Insurance Essay

About Tata AIG General Insurance Tata AIG General Insurance Company Limited (Tata AIG General) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG). Tata AIG General combines the Tata Group’s pre-eminent leadership position in India and AIG’s global presence as the world’s leading international insurance and financial services organization. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 percent. Tata AIG General Insurance Company, which started its operations in India on January 22, 2001, provides insurance solutions to ndividuals and corporates. It offers a complete range of general insurance products including insurance for automobile, home, personal accident, travel, energy, marine, property and casualty as well as several specialized financial lines. The Company believes in offering innovative and relevant insurance solutions in the retail and commercial space. Each product offering is backed by expertise and an unparalleled claims service. The Company’s products are available through various channels of distribution like agents, brokers, banks (through banc assurance tie ups) and direct hannels like Tele Marketing, Digital Marketing, worksite etc. About Tata Group The Tata Group companies operate in seven business sectors: Communications and Information Technology, Engineering, Materials, Services, Energy, Consumer Products and Chemicals. The Group was founded by Jamsetji Tata in the mid 19th century, a period when India had just set out on the road to gaining independence from British rule. Consequently, Jamsetji Tata and those who followed him aligned business opportunities with the objective of nation building. This approach remains enshrined in the Group’s ethos to this day.

The Tata Group is one of India’s largest and most respected business conglomerates, with revenues in 2007-08 of $ 62. 5 billion (Rs. 251,543 crore). Tata companies together employ some 350,000 people. The Group’s 27 publicly listed enterprises have a combined market capitalization of some $ 60 billion and a shareholder base of 3. 2 million. The major Tata Companies are Tata Steel, Tata Consultancy Services, Tata Motors, Tata Chemicals, Tata Communications, Tata Power, Indian Hotels and Tata Tea. The Tata Group has operations in more than 85 countries across six continents, and its companies export products and services to 80 countries.

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The Tata family of companies shares a set of five core values: integrity, understanding, excellence, unity and responsibility. These values, which have been part of the Group’s beliefs and convictions from its earliest days, continue to guide and drive the business decisions of Tata companies. The Group and its enterprises have been steadfast and distinctive in their adherence to business ethics and their commitment to corporate social responsibility. This is a legacy that has earned the Group the trust of many millions of stakeholders in a measure few business houses anywhere in the world can match.

About American International Group, Inc. (AIG) American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo. Vision & Purpose Our Vision

To be India’s most preferred General Insurance Company. Our Purpose To create unmatched value for our customers, employees, business partners and shareholders by delivering remarkable service that is consistent, fair and transparent. Our Values Our values represent the core, shared beliefs that guide how we act and work together to achieve our goals. We share a set of 6 core values: Customer First, People, Passion, Performance, Integrity and Empathy. •Customer First: Anticipate their priorities. Exceed their expectations. •Integrity: We must conduct our business fairly, with honesty and transparency.

Everything we do must stand the test of public scrutiny. •People: We must work cohesively with our colleagues across the Group and with our customers and partners around the world, building strong relationships based on tolerance, understanding and mutual cooperation. Strive to develop diverse talent and reward excellence. •Performance: We must constantly strive to achieve the highest possible standards in our day-to-day work and in the quality of the goods and services we provide. •Passion: We must be excited about what we do. We must have a strong internalized drive to meet goals. Relentless determination to solve customer roblems. •Respect: We must be caring, show respect, compassion and humanity for our colleagues and customers around the world, and always work for the benefit of the communities we serve. PRODUCTS Term •Tata AIG Life Assure One year/ Five Years/10 Years/ 15 Years / 20 Years / 25 Years Lifeline Plans, and Term to age 60 known as Assure Lifeline to Age 60 •Tata Aig Life Raksha Moneyback •Tata AIG Life Assure 21 years Money Saver Pension •Tata AIG Life Nirvana •Tata AIG Life Nirvana Plus Health •Tata AIG Life Health First •Tata AIG Life Health Investor •Tata AIG Life Health Protector – 5 Year Guaranteed Renewal Accident and

Health Plan •Tata AIG Life Hospi CashBack Endowment •Tata AIG Life Assure 10 Years / 20 Years / 30 Years Security & Growth Plans •Tata AIG Life Assure Golden Years Plan •Tata AIG Life Shubhlife Wholelife •Tata AIG Life Mahalife Gold Annuity •Tata AIG Life Easy Retire Children •Tata AIG Life Assure Career Builder •Tata AIG Life Assure Educare at 18 & Assure Educare at 21 •Tata AIG Life Starkid Unit Linked •Tata AIG Life InvestAssure Superstar •Tata AIG Life InvestAssure Sampatti •Tata AIG Life InvestAssure Insta+ •Tata AIG Life InvestAssure Optima Plus •Tata AIG Life InvestAssure Swarna Jeevan Plus Credentials

Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture between the Tata Group and American International Group. The Tata Group comprises 98 operating companies in seven business sectors: information systems and communications, engineering, materials, services, energy, consumer products and chemicals. The Tata Group is one of India’s largest and most respected business conglomerates, with revenues in 2007-08 of $55 billion or Rs. 221,320 crore (not including Corus financials), the equivalent of about 3. 2 per cent of the country’s GDP, and a market capitalisation of $65. 16 billion as on May 22, 2008.

American International Group, Inc. (AIG), One of the leading insurance and financial services provider, is the leading international insurance organisation with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges n Ireland and Tokyo. Simply put, with Tata AIG Life you get the best of both worlds – the trust and reliability of the Tata group along with the proven financial expertise of AIG. Strengths Tata AIG Life is the one of the most trusted Life Insurance Companies in India. Since its inception in 2001, it has grown by leaps and bounds. Today, Tata AIG Life is present in 24 states and 156 cities across the country. It covers over 22 life insurance products and has over 250 product combinations. It is hardly surprising that Tata AIG Life has been voted No 1 in customer satisfaction* among life insurance companies in India.


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