Tata AIG General Insurance
Tata AIG General Insurance Company Limited (Tata AIG General) comes into existence after the joint venture between Tata Group and American International Group, Inc. (AIG). Tata AIG General blends Tata Group's core values with AIG's global presence as the world's renowned international insurance and financial services organization. Tata Group holds a 74 percent stake in the insurance venture, while AIG holds the remaining 26 percent.
Tata AIG General Insurance Company started its operations in 2001 and currently, it provides insurance products to meet the needs of both individuals and corporate companies. Since its inception, Tata AIG General is working towards imparting high-end value to customers by providing sterling insurance products and services.
Tata AIG General Insurance was bestowed with the “General Insurer Claims Team of the Year” award by Claims Awards Asia 2013. The award was given to recognize Tata AIG’s excellence in handling insurance claims beyond the call of duty and striving to help customers during difficult times. The company was recognized for its quick settlement, enhanced fraud detection techniques, and high customer satisfaction.
At present, Tata AIG General Insurance offers a complete range of insurance products, including health insurance, motor insurance, travel insurance, home insurance, lifestyle insurance as well as other specialized products. Each product of the company is backed by skills and unprecedented claim services. Tata AIG General Insurance is offering high-end insurance solutions to capitalize on rising opportunities present in the retail and commercial space.
TATA AIG Insurance Mission Vision
TATA AIG General Insurance envisions being the most preferred General Insurance provider in India. It also wishes to be the best in class general insurance providers by delivering unrivaled products and services to its customers and stakeholders and business partners. The idea is to maintain transparency, fairness, and consistency in all of their operations.
Tata AIG General Insurance has designed its health insurance plans to help you cope with the escalating medical costs. It also coverscharges like surgeon's fees, diagnostic tests, etc. that may turn out to be expensive. Health plans protect you and your family against any such financial emergencies. Tata AIG General Insurance offers a variety of health plans that are listed below:
- Tata AIG MediCare Health Insurance: TATA AIG General Insurance has introduced this plan to cover Bariatric Surgeries, day care procedures, vaccination cover, accidental death, domiciliary treatment costs, hospitalization charges, second medical opinion, along with global medical cover (diagnosed in India).
- Tata AIG MediCare Protect Health Insurance: This plan by TATA AIG General Insurance offers coverage for in-patient treatment expenses, consumable expenses, organ donor expense, Ayush treatment cost, ambulance cover, health check-up facility among other benefits.
- Tata AIG MediPrime-Cashless Health Insurance: Tata AIG’s MediPrime is a transparent cashless health insurance policy without any co-payment on health expenses. It provides comprehensive hospitalisation coverage without any sub-limits. No medical tests are required on enrolment up to 50 years of age and/or for sum assured up to Rs. 5 lakh. Lifelong renewal is offered provided renewal premium is paid without any break prior to policy expiry or within the grace period.
- Tata AIG MediCare Premier Health Insurance: TATA AIG General Insurance has designed this plan to offer special benefits. It includes Emergency Air Ambulance cover, treatment taken outside India, restore benefits, bariatric surgeries, high-end diagnostics, maternity expenses, first-year vaccination for the new-born, OPD dental treatment, and compassionate travel costs, apart from hospitalization expenses.
- Tata AIG Wellsurance Executive Policy: The Wellsurance Executive Policy is designed to take care of the busy executive and his/her well-being, going beyond what traditional health insurance policies provide. It can be bought by any individual from 18 years of age up to 65 years. Fixed lump sum benefit is paid for hospitalisation, post hospitalisation, and critical illnesses. The policy has a life-long renewability option.
- Tata AIG Wellsurance Family Policy-Family Fixed Benefit Plan: The policy pays special attention to each family member by caring for their well-being. Fixed lump sum benefit is paid for hospitalisation and critical illnesses. Children´s education benefit is paid in case of accidental death/permanent total disability of the policyholder. People between the age of 18 years and 65 years can purchase the policy. The eligible age for children is 6 months to 18 years (23 years in case studying for higher education).
- Tata AIG Wellsurance Woman Policy: The AIG General Insurance has designed this health insurance product to cater to the health requirements/emergencies of today’s modern woman. The policy looks beyond basic health insurance needs and ensures the total well-being in all phases of life. Women between the age group of 18 and 65 years can purchase this policy. Fixed lump sum benefit is paid for 11 critical illnesses. A daily hospital cash benefit, higher hospital cash for ICU/ICCU admissions, convalescence benefit and cosmetic surgery benefit for accidental injuries is offered under this policy.
- Tata AIG Critical Illness: The critical illness health insurance policy by Tata AIG General Insurance is specifically designed to cover a list of 11 critical illnesses. Anyone between the age group of 18 years and 65 can purchase this insurance policy. The policy provides a lump sum amount when diagnosed with any of the listed critical illnesses. The second opinion benefit is valid only if the policy is in force and the insured person has been diagnosed with any of the 11 critical illnesses covered in the policy.
- Individual Accident and Sickness Hospital Cash Policy: Tata AIG General Insurance’s Individual Accident and Sickness Hospital Cash is a perfect supplement for an individual’s health insurance policy and can be taken along with any other health insurance scheme. Anyone between the age group of 6 months and 65 years can buy the policy. In case of accident and sickness, a daily hospitalization benefit is paid for up to 180 days. There is no pre-policy check-up required.
- MediPlus-Top-up Medical Health Insurance Plan: The MediPlus cover is a top-up health insurance plan to enhance one’s current health insurance with a higher total coverage at an affordable premium. It is the perfect health protection for supplementing one’s primary medical insurance cover. The policy gives the insured the option to choose between 1 year and 2-year plan option term. It covers pre, post, and in-patient hospitalisation expenses in addition to expenses related to 140-day care procedures, domiciliary treatment, organ donor expenses, and emergency ambulance services.
- MediSenior-Senior Citizen Health Insurance Plan: A specially designed health insurance plan by Tata AIG General Insurance for senior citizens covering all their health-related needs. The minimum age of entry under this policy is 61 years and above and the policy is issued either for a period of 1 year or 2 years. It covers pre, post, and in-patient hospitalisation expenses. It also covers expenses related to 140-day care procedures, domiciliary treatment, organ donor expenses, and emergency ambulance services. The policy offers lifelong renewability option.
- MediRaksha-Affordable Health Insurance Plan: MediRaksha is an affordable health insurance policy that helps the insured and his/her family in taking care of medical emergencies and rising medical costs. It is a basic medical insurance plan, covering emergencies and illnesses, hospitalisation and surgical treatments. No medical tests are required for enrolment up to 55 years of age. There is no loading on renewal premium in case of a claim.
- Group Accident and Sickness Hospital Cash Policy: Tata AIG General Insurance’s Group Accident and Sickness Hospital Cash Policy is a perfect supplement to group health insurance policies and can be taken along with any other health insurance scheme. The entry age ranges from 6 months to 65 years. It provides a daily benefit for accident and sickness hospitalisation. There is no requirement of pre-policy check-up. Hospitalisation cash up to 180 days is provided in case of accident or sickness.
Car insurance plans by Tata AIG General Insurance help you to escape from expenses that may arise due to a road emergency. Here is a list of TATA AIG car insurance plans:
- Auto Secure–Private Car Package Policy: The Auto Secure-Private Car Package Insurance policy from Tata AIG General Insurance is a comprehensive car insurance plan that safeguards against road emergencies including accidents and theft. There are 13 unique add-on covers that are available to enhance the scope of coverage.
- TATA AIG Liability Only Car Insurance Policy: Under the purview of the Motor Vehicle Act 1988, every car owner needs to have a minimum of Third Party Liability Insurance policy. Liability only policy only covers third-party damages including third-party property damage, third-person’s death, and third-party bodily injuries.
Navigating your two-wheeler through the bustling and crowded street can sometimes be risky. To safeguard your financial interest, TATA AIG General Insurance has devised an excellent two-wheeler insurance policy, which offers comprehensive coverage to the insured that includes third-party coverage, compensation in case of theft, etc.
- Auto Secure-Two Wheeler Package Policy: The Auto Secure-Two Wheeler Package Policy from Tata AIG General Insurance offers coverage against liability towards third parties and also loss or damages that are caused to the insured two-wheeler. The coverage can be further enhanced with add-on covers.
- Tata AIG Long-Term Two-wheeler Package Policy: It insures your vehicle for a period of 2 to 3 years. It offers protection against third-party liabilities, including third-party death, third-party bodily injuries, and the pillion riders. The limit of third-party property damage is INR 1 lakh. And the limit for Personal Accident Cover to Owner Driver is INR 15 lakh.
- TATA AIG Liability Only Two-wheeler Policy: TATA AIG General Insurance provides liability only cover to two-wheelers as well. It will only cover third-party property damage, accidental death and bodily injuries caused to another person other than the policyholder.
Commercial vehicles are exposed to a lot of risks on the road. The financial liability in case of a commercial vehicle is also substantially higher in comparison to private vehicle. If you happen to own a commercial vehicle, TATA AIG commercial vehicle insurance is what you would need. Secure your finances by investing a little in such a policy and reap the benefits that come along.
- Auto Secure-Commercial Vehicle Package Policy: The package policy covers third-party liabilities, and also offers compensation for accidental damages and theft of the insured vehicle. The scope of the cover can be further enhanced with 6 unique add-on covers. TATA AIG Commercial Vehicle Liability Only Policy: TATA AIG General Insurance provides liability only cover to commercial vehicles as well. It is necessary to protect the interest of a third party in case of property damage, accidental death, and bodily injuries.
Tata AIG Travel Insurance Plans:
Tata AIG General Insurance offers travel insurance plans to secure your from any emergencies that may arise during your international and domestic trips.
- Tata AIG Travel Guard International Travel Insurance: Travel Guard is an international travel insurance policy by Tata AIG General Insurance that provides coverage against all the mishaps that may arise during your overseas travel. There are five plans available under Single Trip policy – Silver, Silver Plus, Gold, Platinum and Senior Plan and two options under the Annual Multi-Trip program where a traveller can buy Annual Multi Trip Gold or Platinum plans.
- Tata AIG Student Guard – Overseas Health Insurance Plan: The Student Guard – Overseas Health Insurance Plan is designed for students going abroad to pursue higher education. This student insurance policy can be availed by any individual, between 16 and 35 years of age, enrolled and attending a full-time registered educational institution of higher learning outside India. The policy covers health risks, accidents, loss of sponsorship when travelling abroad, and family emergencies at home.
- Tata AIG Asia Travel Guard Policy: The travel insurance policy can be taken by any resident of India between the age group of 6 months and 70 years, who are travelling within Asia for business or leisure. The policy provides a comprehensive level of protection that can take care of every mishap during international travel. It covers loss of baggage, accident and medical emergency situations and a host of other eventualities.
- Tata AIG Domestic Travel Guard Policy: The Domestic Travel Guard Policy by Tata AIG General Insurance is a unique travel insurance product that covers multiple contingencies during domestic trips within India via air, rail or road. The policy provides accidental death and dismemberment benefit, emergency accident medical expenses reimbursement, missed departure (rail or air) reimbursement, reimbursement of accommodation charges due to trip delay and loss of tickets, and emergency medical evacuation.
Tata AIG Home Insurance Insurance Plans:
Tata AIG home insurance plans = are designed to cater to everyone’s home insurance needs in a comprehensive manner. The plans are listed below:
- Tata AIG Instachoice Home Insurance: Tata AIG General Insurance's Instachoice Home Insurance is a do it yourself insurance product, which allows one to choose and design one’s home insurance cover instantly. It covers fire and special perils, rent for alternative accommodation, burglary and theft, public liability, baggage loss, audio and audio-visual appliances, breakdown of domestic appliances, personal accident, and purchase protection. Anyone who resides in a self-owned or rented house should buy this insurance policy.
- Tata AIG Home Secure Supreme: The Home Secure Supreme plan from Tata AIG General Insurance is a flexible plan that can be customized according to the individual needs of the customers. The plan offers 15 comprehensive coverage options to choose from. It offers coverage for loss or damage due to fire, public liability, burglary, purchase protection, pedal cycle, plate glass, baggage, audio-visual appliance, domestic appliance, marine, personal accident, medical expense, ambulance charge, expenses for temporary resettlement and money. The policy offers new benefits like purchase protection, medical expenses, and temporary resettlement expenses.
- Tata AIG Home Coupon: The Home Coupon plan provides on-the-spot cover for one’s home. It comes with easy documentation. Anyone who resides in a self-owned or rented house should buy this insurance. This Tata AIG General Insurance Policy covers fire and allied perils including earthquake and terrorism. It also covers burglary and theft on first loss.
- Tata AIG Standard Fire and Special Perils: The plan provides coverage against fire and some special perils. This policy insures buildings (RCC construction) from a wide range of contingencies. The sum insured is fixed on the basis of the reconstruction cost of the building excluding land value. The building value should be equal to the present day cost of reconstruction, while contents should be insured for their market value.
- Tata AIG Accident Guard Policy: Tata AIG General Insurance’s Accident Guard Policy is a comprehensive plan that offers protection against multiple adversities. Any person between the age group of 18 and 65 years can buy this policy for self and spouse. It can also be bought for children between the age group of 6 months and 18 years (23 years for higher education cases). The sum insured ranges from Rs. 5 lakh to 1 crore. Lifelong renewal is offered provided the premium is paid regularly.
- Tata AIG Injury Guard Policy: Tata AIG General Insurance’s Injury Guard Policy ensures a greater level of financial independence. . The policy provides coverage for accidental death, fractures and burns, emergency accident medical expenses, home alteration, vehicle modification and temporary total disability.
- Tata AIG Income Guard Plan: Income Guard Plan takes care of uncertainties arising due to the loss of income from a host of reasons. It is a personal accidental plan designed to cover accidental death, accidental dismemberment and permanent total loss of use. Lifelong renewal is offered provided premium is paid regularly. Those between 18 and 70 years can purchase this plan.
- Tata AIG Secured Future Plan: The Secured Future Plan is the right solution to take care of uncertainties that can affect a family’s financial condition. It covers risks arising due to accidental death, dismemberment, paralysis, and permanent total disability. The entry age is between 18 and 70 years and the policy is renewable for life. It offers guaranteed monthly income up to 20 years. No medical examination is required. The policy offers 24 hours, worldwide coverage.
- Tata AIG Secured Income High Policy: This TATA AIG General Insurance plan safeguards a family’s needs and offers financial security at the time of uncertainty . The insured person is covered against accidental death, dismemberment and permanent total loss of use of limbs resulting from an accident. After initial lump sum benefit payout, beneficiaries receive regular monthly installments for the next 5 years. Lifelong renewal is offered if the premium has been paid without any break. The entry age is between age 18 and 65 years.
- Tata AIG Maha Raksha Personal Injury: the policy provides cash benefit in case of accidental injuries and hospitalization. . This can be utilized as per the discretion of the insured. Anyone between the age group of 18 and 75 years can purchase this plan. The premium does not increase with age. There are no restrictions on hospitals and no medical examination required at the time of the policy purchase.
- TATA AIG Accident Shield Policy: Tata AIG General Insurance has designed this plan to compensate the insured in case of permanent disabilities resulting from an accidental injury. It also covers specific losses as mentioned in the policy wordings. It also includes children’s education benefit.
Tata AIG Lifestyle Insurance Plans:
Personal Extended Protection Policy (PEPP):
A range of 10 innovative, new-age insurance solutions designed for today’s lifestyle to help one live a worry-free life. They are are further classified into three broad categories:
- Personal Identity Protection: Tata AIG General Insurance has designed this plan to offer protection against misuse of identity or payment cards. The benefits include:
- Identity Theft Cover
- Fraudulent Charges Cover
- ATM Assault & Robbery Cover
- Lost Wallet Cover
- Personal Travelling Protection: This Tata AIG General Insurance Policy covers any loss or liability that may arise during your personal travel. The benefits include:
- Home Protection While You’re Away Cover
- Personal Trip Effects Cover
- Personal Trip Liability Cover
- Personal Credit Card Protection: This plan offers:
- Price Protection Cover
- Purchase Protection Cover
- Key Replacement Cover
TATA AIG Small Business Insurance Plans:
TATA AIG Corporate Insurance Plans:
- Auto Secure Corporate Fleet
Health & Accident Insurance
- Group Personal Accident Policy
- Group MultiGuard Personal Accident Policy
- Business Travel Accident
- Small Business Travel Accident
Fire & Engineering
- Standard Fire and Special Perils Policy
- Boiler and Machinery
- Contractors All Risks
- Consequential Loss (Fire) Insurance
- Erections All Risks
- Industrial All Risks Insurance
- Marine Sales Turnover Policy (STOP)
- Innovative Marine Solutions
- Marine Insurance Open Policy
- Marine Insurance Specific Policy
Financial Liabilities Insurance
- Public Liability Insurance (Industrial and Non-Industrial)
- Product Liability Insurance
- Commercial General Liability Insurance
- Workmen's Compensation Insurance
- Umbrella Liability Policy
- Contaminated Products Insurance
- Pollution Legal Liability
TATA AIG Rural Insurance Plans:
- Two Wheelers: Private Care
- Commercial Vehicles
- Goods Carrying vehicles
- Passenger Carrying vehicles
- Shops & Outlets
- Machinery (Pump sets)
Livestock (Cattle) Insurance
- Natural calamities
- Riots, malicious damage, terrorism
- Permanent loss of milk yielding capacity due to disease
Health & Accident Insurance/Personal Accident Insurance
- Accidental Death
- Accidental Dismemberment
- Emergency Accident Medical Expense
- Repatriation of Remains / Dead Body
- Permanent Partial Disability
- Accident Hospital Cash
- Permanent Total Disability
- Tuition Benefit (Education Benefit)
TATA AIG Private Client Group Insurance:
- Motor Insurance
- Home and Contents Insurance
- Fine Art and Valuables Insurance
It is advisable to compare all Tata AIG General insurance plans with plans from other general insurance companies in India to choose the insurance plan that fulfils the requirements.
TATA AIG General Insurance Renewal Procedure
TATA AIG General Insurance Online Renewal Process
It is imperative to renew your insurance policy before its expiry date. TATA AIG General Insurance plans can be renewed online in a hassle-free manner. Simply log into the TATA AIG General Insurance’s website and click on the ‘renew now’ option. It will lead to a secured payment gateway.
The proposer can select from different Tata AIG General Insurance products for renewal. TATA AIG two-wheeler insurance renewal, car insurance renewal including other general insurance products is possible online. Tata AIG health insurance renewal is possible if there are no pre-existing diseases. The payment is done in a secured manner through digital methods using net banking, debit cards, and credit cards. Just by following a few simple steps, the insurance policy is renewed instantaneously.
TATA AIG General Insurance Payment Process
TATA AIG Insurance Online Payment Process
TATA AIG General Insurance follows a simple, time saving and convenient online payment procedure. The customers can make the payment with just a few clicks. The proposer simply needs to visit the official website of TATA AIG General Insurance. And select the product he/she wants to buy, and then pay the policy premium online using digital payment methods.
For instance, in the case of travel insurance, the proposer can click on the travel insurance category and select the 'make payment' option. Simply enter the policy number and pay the premium. Online transactions can be completed using credit, debit cards, and net banking.
TATA AIG Insurance Offline Payment Process
TATA AIG General Insurance also accepts offline payments from customers who are not comfortable paying the premium online. Offline payments can be done through:
- Cash/ Cheque at the insurer’s office
- Drop boxes
- Through Tata General Insurance Brokers
- Through Tata General Insurance Agents
Tata AIG General Insurance Distribution Network:
The Tata AIG General Insurance 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 telemarketing and digital marketing.
TATA AIG General Insurance FAQs
Ans: Tata AIG General Insurance offers a variety of insurance products. The list goes as follows:
- TATA AIG Two-wheeler Insurance
- TATA AIG Car Insurance
- TATA AIG Travel Insurance
- TATA AIG Health Insurance
- Personal Accident Insurance
Ans: TATA AIG General Insurance makes it possible to check the car and two-wheeler insurance claims from their website. Simple enter your policy number, claim registration number and click proceed and easily online track Tata AIG claim status.
Ans: Yes, you can download Tata AIG General Insurance claim form online. All the products and their claim forms are available on their website. You can find Tata AIG claim form for 2 wheeler insurance, car insurance, health, travel, home, lifestyle and other Tata AIG insurance claim forms.
Ans: AIG General Insurance customer care number is 1800 266 7780. You can also check it on your policy documents.
Q5. What is the period of Tata AIG General Insurance policies?
Ans: Usually, all the TATA AIG General Insurance policies are for one year only. However, there are long-term motor insurance plans and health insurance plans that require renewal after two or three years.
Tata AIG General Insurance - Latest News
One of India's top private general insurance companies, Tata AIG General Insurance Company Limited has been conferred with 'iAAA' rating by the credit rating body ICRA, based on the company’s claims settling ability.
The 'iAAA' rating is given to an insurance company whose claims-paying ratio is highest among its competitors. The ratingsignifies the insurer’s super strong position in its domain and its prospect of meeting up with the policyholders’ obligations.
The ratings’ credit is given to the Tata AIG's solid presence in the niche domains, including liability, travel and marine cargo insurance. Also, the rating owes to the parentage of Tata AIG along with the commitment of its both partners, AIG and Tata Sons Ltd.
In addition to that, Tata AIGhas set the reasonable under writing indicators of the profitability, reinsurance, the development of the product, and commercial business’ high share in its product mix.
As per Neelesh Garg, MD and CEO, Tata AIG General Insurance Co.Ltd., As 'iAAA' is the highest rating for the insurance industry for claim settling ability of any insurer, they are honored to be conferred with the 'iAAA' rating from ICRA for their claim settlement procedure.
The new rule book of IRDA regarding e commerce platform to sell insurance policy declares that insurers can set different rates for their insurance products online. It was not allowed to mention a different price for the same products on different channels. Tata AIG insurance may offer different price for the same product when it is selling through the Insurance Self-Network Platform.
The insurer can decide the price of every insurance products and it is the responsibility of the insurer that they share the price of the product with IRDA. The products can only be sold in electronic form which would be through electronic insurance accounts that is opened by customers mandatorily.
From a customer's point of view, this procedure is very monotonous as it is mandatory to open an e-insurance account to buy insurance policy e-commerce platform. If all the insurance companies will success to execute this procedure appropriately this platform will provides huge the competition in the insurance market.
Neeraj Vetkar, who was heading the IT Infrastructure department Tata AIG General Insurance Company based in Mumbai, has now switched to Adani Enterprises, the flagship firm of Adani Group, as the Associate General Manager-IT. During his 4-year tenure at Tata AIG General Insurance Company, Vetkar handles the migration process of the data centres of Tata AIG from Tata communications to Ctrl S.
Vetkar also looked after and ensured the execution of a risk-based backup system. Prior to Tata AIG General Insurance Company, Vetkar was handling the data center functions at ICICI Prudential Life Insurance, Future Group, and Kotak Mahindra Bank.
At Adani, Vetkar will be leading the data center infrastructure vertical of their entire group of companies.
Tata AIG is planning to introduce women specific insurance plans in the fiscal 2016-17. Tata AIG General Insurance, a private sector non-life insurance company, is functioning on a lot of health insurance plans to be introduces in the next fiscal. These plans include some women specific health insurance products.
Currently, the company is offering more than 6 plans under the health insurance section. Further, these plans are divided into two classes, namely, wellsurance and medi. Nowadays, the health insurance customers have to face some distinctive issues. Inadequate coverage features and medical cost inflation are the major ones among the concerns.
Tata AIG General Insurance Company is working on women-oriented and benefit-based insurance products in order to resolve the issue. "We are working on few benefit-based products which will be launched shortly and we are also evaluating product specifically for women," said M Ravichandran, President – Insurance, Tata AIG General Insurance.
During the10th Golden Peacock Award Ceremony and global conference on corporate social responsibility, Institute Of Directors presented the Golden Peacock Human Resource Excellence Award to Tata AIG General Insurance.
Chief Human Resource Officer of Tata AIG General Insurance Co. Ltd., Mr. Subramanian Suryanarayanan was given away the award by Mrs. Pankaja Gopinathrao Munde. Mrs. Pankaja Gopinathrao Munde is the Honorable Minister of Rural Development and Water Conservation in Women and Child Development department, Govt. of Maharashtra.
Golden Peacock Human Resource Excellence Award is presented to the organizations that have accomplished overall excellence in their people management and human resource management practices; and eventually have contributed towards the desires of business, employees, their professions, the industry, and our country. These are organizations that have established creative, proactive, and valuable people management or human resource management practices, in various areas to the extent of being considered as a champion and a role model for others to follow.
Written By: PolicyBazaar - Updated: 31 July 2020