Tata AIG

The Tata AIG General Insurance Company Limited is a joint venture between the Tata group and the American International group with the Tata Group holding 74 percent of the share. The venture combines the Tata Group’s leadership in India and the global presence of AIG in insurance and finance services.  It started its operations on January 22, 2001 and has a wide portfolio of insurance products including automobile, home, marine and energy insurance.

Contents

• - Corporate Profile
• - Vision & Values
• - Management Team
• - Products & Services
• - Contact Details
• - Private Car Insurance
• - Two Wheeler Insurance

The company makes its products available through various distribution channels such as agents and brokers and through bancassurance tie ups. The products can also be availed through direct marketing channels such as Tele marketing and Digital marketing.

Vision & Values

Vision

“To be India's most preferred General Insurance Company.”

Purpose

“To create unmatched value for our customers, employees, business partners and shareholders by delivering remarkable service that is consistent, fair and transparent.”

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 problems.
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.”

Management Team

The management team of the Tata AIG includes highly qualified personnel with years of experience in the field of insurance and finance in the global arena. The team has enabled the company to design and provide insurance products which suit the requirements of the customers and cover them against risks and damages of their preference. Further, the members of the team have ingrained in the functioning of the company, a customer oriented approach which ensures that the interests of the customers are addressed appropriately.
The following persons are members of the management team:

• Mr. Farrokh K. Kavarana (Chairman)
• Mr. Ishaat Hussain (Director)
• Mr. Michael Whitwell( Director)
• Mr. Sunil Mehta (Director)
• Mr. B.D. Banerjee (Director)
• Mr. Ashok R Soni (Director)
• Mr. F.N. Subedar (Director)
• Mr. Gaurav Garg (Managing Director)
• Mr. Miranjit Mukherjee (Vice President Finance & CFO)
• Mr. Saket Singhal (Appointed Actuary)
• Mr. Koushik Gopinath (Chief Investment Officer)
• Mr. Vijay Pandit (Head - Internal Audit)
• Mr. Gunjan Ghai (Head – Marketing)

Products & Services

The Tata AIG Insurance Company provides numerous insurance products for all kind of customers and clients including individuals, small businesses, corporations and private clients. The reason for a wide range of products is due to the Tata AIG’s understanding and cognizance of the different insurance needs of its customers. Thus, the company has segmented its products according to its clients’ varying requirements and business necessities.
Among the insurance products for individuals are the following:

• Motor
• Private Car Insurance
• Two Wheeler Insurance
• Commercial Vehicle Insurance
• Home
• Health
• Travel
• Lifestyle

The Motor insurance products by the Tata AIG Insurance Company are designed to provide coverage to the customers according to their individual and business requirement. The necessity of a vehicle command equal care and security and the Tata AIG’s motor insurance products offer the most appropriate cover against various possibilities of loss through damages or in the event of an accident or theft. The company offers a lot of options to choose from to provide optimum coverage and protection to the vehicle apart from the mandatory third party liability insurance.

Contact Details

Registered Office

Tata AIG General Insurance Company Limited
9th Floor, Piramal Towers
Peninsula Corporate Park
Ganpatrao Kadam Marg
Lower Parel
Mumbai - 400 013, Maharashtra

24x7 Toll Free helpline: 1800-266-7780/1800-11-9966 (from MTNL/BSNL lines only)
OR
SMS `TAG` to 5616181
Email: customersupport@tata-aig.com

Private Car Insurance

Private Car Insurance offers the policyholders the choice of protecting their vehicle against all possible damages that may occur in the event of a mishap and various other risks such as fire, theft, riots, etc. It is however mandatory according to the Motor Vehicle Act, to have at least the insurance against third party liabilities which may arise due to damage to the property of the third party or due to physical injury of death.
In addition to that, the Tata AIG also provides a comprehensive insurance coverage which provides protection to the vehicle against risks of fire, explosion, burglary, theft, strikes, riots, cyclones, flood, earthquakes, accidents, malicious acts and terrorist activities. Further, the company has 8 unique add on covers which provide protection from other losses and expenses and can be availed on payment of extra premium.

Key Features

The private car insurance policy by Tata AIG Insurance Company offers the above mentioned coverage and also many other services to the policyholder to ensure optimum convenience and ease of access. These services are implemented with the policyholders’ interest in mind and to put forth every possible means of support to them in times of trouble and distress. Most of the key features of the policy are meant to relieve the policyholder of the trouble of going through a grueling insurance process after a mishap.
The following are some of the features of the policy:

• Free pick-up of car
• Direct settlement facility at special garages
• Up to 6-month accident-repair warranty
• Quality spares and materials, guaranteed
• Claim settlement in 7 days
• Enhanced protection though 8 unique add on covers

Coverage

The motor car insurance policy covers all kinds of Loss or Damage to the vehicle which may be any partial or total loss due to an accident or on account of fire. The third party legal liability being a compulsion is a part of the policy and covers damage to the property of third party and bodily injury. In case of total loss or damage, no deduction is made on account of the Salvage value.
Further, with the Tata AIG’s Green Channel Settlement, it is easier for the policyholder to make accident claims and get easy repairs at the company accredited garages. The policy also offers an Auto Restore Warranty which can be availed if the customer has opted for the 'Green Channel Settlement’.

Policy Add Ons

In order to ensure optimum coverage from loss and damages, the customers are offered Add Ons which are designed to add value to the policy by providing protection over and above the basic benefits. These can be availed by the policyholders as per their preference and the eligibility of the vehicle for such an add on. There is also the option to avail bundled add ons which enable the customers to avail multiple add ons at the same time. The company offers the following add ons:

• Depreciation Reimbursement: It enables full claim without any deduction for depreciation from the value of parts which have been replaced and is available for vehicles up to 3 years old and allows for maximum 2 claims during the policy period.
• Return to Invoice: This cover enables the policyholder to receive the difference between the ‘claim amount receivable’ and the ‘purchase price of vehicle’ as per invoice in case of a total loss or a constructive total loss of the vehicle.
• If the current price of the same make and model as per invoice is lower than the purchase price, then the lower price will be considered for calculating the differential amount
• The first time registration charges and the road tax on the vehicle are also covered
• Cover is available for vehicles up to 3 years old
• Daily Allowance: The transportation costs of the vehicle to the repair shop are covered if the repair time is more than 3 days.
• The valid of the cover is maximum 10 days and up to 15 days in case of Total Loss / Theft claims
• Period of Daily Allowance depends upon the date of loss and may extend beyond the policy period
• No Claim Bonus Protection: Under this cover, the existing NCB can be retained in case of certain claims if
• The accumulated bonus is 25% or more
• There is no claim in the preceding 2 years
• Available only if vehicle is renewed with Tata AIG
• Repair of Glass, Fibre, Plastic and Rubber Parts: If repair rather than replacement is opted for damage to only Glass, Fibre, Plastic and Rubber parts, the ‘No Claim Bonus’ will not be impacted
• There should be no other claim for damage to the vehicle during the policy period
• This cover is free
• Key Replacement: The cost, to replace the vehicle’s keys if lost or stolen and the cost of locks if the vehicle is broken into, is covered by this Add on.
• Emergency Transport and Hotel Expenses: The cost of hotel stay and transport to the nearest residence if the vehicle becomes immobile owing to an accident or breakdown
• Loss of Personal Belongings: It covers the loss of the personal belongings in excess of Rs. 250 inside the vehicle at the time of damage to the vehicle

Two Wheeler Insurance

The two wheeler insurance policy offered by Tata AIG is designed to suit the needs of the customers for optimum convenience and protection from damage and loss. With a comprehensive insurance cover, the policy insures the vehicle for the liability arising out of the Third party and also covers it against the loss or damage in the event of an accident. Thus, the customers have the options to choose the third party liability policy as well as the comprehensive policy.

Key Features

The two wheeler insurance policy strictly follows the norms laid down by the Motor Vehicle tariff and offers cover from Loss or Damage to the insured vehicle which may be any partial or total loss arising out of an accident or on account of fire. It automatically includes the Third Party Legal Liability and covers Third party property damage and Third party Bodily injury. Discount (NCB) for claim free experience can be availed by the customers eligible for it. There is also a predefined depreciation rate which is written in the policy for the parts that need replacement on account of the accident.
Other unique benefits include Non deduction on count of Salvage value in case of total damage of the vehicle. The company offers a Direct Payment facility for repairs at limited garages and also ensures faster claim settlement. Moreover, the contact center can be accessed 24 X 7 for lodging claims and queries.