Insurance
Tata AIA Life launches non-linked Maha Raksha Supreme

Tata AIA's Maha Raksha Supreme comes with a minimum sum assured of Rs50 lakh and offers special rates for women and non-smokers

 
Mumbai: Private insurer Tata AIA Life Insurance has launched 'Maha Raksha Supreme', a non-linked, non-participating term insurance plan that offers customers a wide range of life protection options, reports PTI.
 
"An unfortunate event in the life of the bread earner of the family may seriously affect the standard of living (SOL) of his loved ones and burden them with unexpected liabilities. With Maha Raksha Supreme, our customers will also have the choice of increasing the cover amount for future milestone events like marriage and birth of a child, without going through the hassles of fresh medical underwriting by opting for Life Stage Plus option," Tata AIA Life Managing Director Suresh Mahalingam said in a release issued here.
 
The scheme comes with a minimum sum assured of Rs50 lakh and offers special rates for women and non-smokers.
 
It also has an option of paying for the policy as a single premium or regular premiums, which will be eligible for tax benefits.
 
Maha Raksha Supreme is available to individuals between the ages 18-70 years for the Pure Protection Cover option and ages 18-55 years for the Extra Protection Cover option.
 
The customers can further enhance their cover by choosing from an array of riders for additional protection by paying an additional premium like accidental death benefit, surgical benefit covering more than 900 surgeries and critical illness lump sum benefit rider covering six critical illnesses like cancer, stroke, heart attack, coronary bypass surgery, chronic renal failure, major organ transplant.
 
Tata AIA Life is a joint venture company, formed by Tata Sons and AIA Group, the largest independent publicly listed pan-Asian life insurance group in the world.
 

User

Bharti AXA Life launches CAM to ease claims experience

Through a personalised service of claims assistance manager, Bharti AXA customers will get the counsel of expert personnel to guide them to take their claims to the logical conclusion

 
Mumbai: In a bid to reduce procedural bottlenecks, private insurer Bharti AXA Life Insurance has introduced a dedicated service to assist customers in settlement of their claims, reports PTI.
 
Through a personalised service of Claims Assistance Manager (CAM), the customers will get the counsel of expert personnel to guide them to take their claims to the logical conclusion.
 
"Claim settlement is the moment of truth for any insurance customer. A number of our researches lead us to the conclusion that customers consider claim settlement as a complicated and lengthy process. We are sensitive of the claimant's loss and expectation from his insurer, and hence, have introduced the Claims Assistance Manager to assist in the multi-step process," Bharti AXA Life Insurance Chief Operating Officer Jyoti Punja said in a release issued here.
 
CAMs are experienced Bharti AXA Life employees equipped with industry knowledge and well-versed in company processes.
 
The objective of the proposition is to bring clarity, offer support and provide a logical conclusion to claims.
 
The initiative has been activated across all branches in the country through a communication structure designed to take the service aspect to the next level.
 
For easy reach, claimants will be contacted through SMS, emails, letters, calls and walk-ins at the branch, the release said.
 
Bharti AXA Life is a joint venture between Bharti Enterprises and AXA, the world's largest insurance company.
 

User

Reliance Life launches post-sales insurance service

Under the new initiative it would be mandatory for Reliance Life's 1.5 lakh representatives, including employees, advisors and channel partners, to visit its policyholders at least once in year

 
Bangkok: Private insurer Reliance Life has said its representatives would meet more than 10 lakh customers by March 2013 as part of the company's new post-sales customer service initiative, the first by any insurance company in India, reports PTI.
 
Launching the new initiative, named 'Reliance Life Plus Club', the company said it would mandate an advisor or insurance agent to go back to the customer, beyond just collection of premium, with a view to maintaining a closer and long term relationship with its policyholders.
 
The new initiative is inspired by 'Zutto Motto' (forever more service) service at Nippon Life Insurance, Japan's leading insurer and Reliance Life's strategic partner with a 26% stake.
 
It would make it mandatory for Reliance Life's 1.5 lakh representatives, including employees, advisors and channel partners, to visit its policyholders at least once in year.
 
Reliance Life is the first company in India to introduce a structured post-sales customer service platform, which involves a continued relationship between the company and its customers through personal interactions.
 
Through this initiative, the company targets to meet 10 lakh customers by the end of the current financial year, Reliance Life President and Executive Director Malay Ghosh told reporters here.
 
The company sold more than one million policies in the last fiscal 2011-12 alone, while it is estimated to have a total of more than nine million policyholders.
 
During these interactions, the representatives would review the customers' existing policies, understand the changes and developments in the customers' life and family since their last policy, evaluate current insurance needs and requirements, offer advice on suitable new products and its benefits.
 
"The fundamental focus of insurance companies in India has been more on getting new customers than servicing existing policy holders. We wish to change this with our new initiative," Ghosh said.
 
"We have just launched the drive. Over a period of two to three years we are targeting at least one personal interaction every year with each of our existing customer," Ghosh said.
 
"We expect expenses of about Rs12 crore would be incurred this year under the initiative," he added.
 
The domestic industry is facing issues on both orphan policies and mis-selling of products... if an agent has to go back to a customer after the sale, the chances of mis-selling reduce dramatically," Ghosh said.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)