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Transitioning from being a payer of benefits & claims to a value-adding role of partnering with consumers at their life stages with well-being
- Tata AIA enhances its suite of life insurance solutions with the launch of its globally renowned Vitality Wellness program.
- This unique health platform empowers and rewards consumers through its personalized programs, guiding them in their daily health regimes, enabling them to live healthier and happier lives.
- In addition to the health benefits of Tata AIA Vitality, Consumers Can hope to receive Advance discounts and renew their insurance premiums
Mumbai, India, November 30, 2022 /PRNewswire/ — Tata AIA Life Insurance (Tata AIA), a leading life insurer in India has enhanced its bouquet of life insurance solutions with the launch of a unique health scheme – Tata AIA Vitality – Available through the rider package, Vitality Protect & Vitality Health. With this launch, Tata AIA introduces consumers in India To the globally renowned Vitality platform, which is already present in 40 countries and has benefited more than 30 million people over the past 25 years.
Accessible through an easy-to-use mobile app, Tata AIA policyholders can use it to get health checkups and engage in wellness activities to benefit from a healthier lifestyle. Add this, consumers get Advance discounts and renew their insurance premiums.
Tata AIA Vitality Health programs use data analytics tools to help consumers take action. important to all well-being. The mobile app interface is divided into three parts:
- Know your health – Enables consumers to assess their current health and wellness status
- Improve your health – Contains weekly challenges and activities that consumers can participate in Mental, physical, and social improvement.
- Awarded – Helping consumers get discounts on premiums when they meet specific health goals
Consumers can avail this integrated health platform by purchasing riders available for Tata AIA’s term life, savings and retirement plans. Riders provide valuable benefits to consumers for paying a small additional premium along with the basic insurance policy. Yes Vitality Protect rider provides comprehensive cover against accidental death, total accident and permanent disability, besides giving consumers the option to increase their term insurance. Vitality Health rider covers like critical illness cover and daily cash, in case one is hospitalized for any treatment.
Speaking on the occasion, S. Venky IyerPresident & Chief Marketing Officer, Tata AIA Life Insurance, said, “At Tata AIA, we are driven by our value of customer satisfaction. We continuously evolve according to changing consumer needs and ensure innovative and consumer-friendly offerings.–Solution-centered. Introducing the Vitality offering is an important step in our transition from payer to partner. We are confident that our initiative will give our consumers the opportunity to adopt a healthy lifestyle and provide them with additional benefits, over and above what they enjoy from our other solutions.”
Commenting on the announcement, Barry SwartzbergCEO of Vitality Globalsaid, “We are very proud to be associated with Tata AIA To expand the reach of the Vitality program and its ability to make millions of people healthier. This is an important event for us In addition India In the list of countries that connect Vitality with insurance 40Th global market.”
Regarding the launch of the initiative, Neeraj ChopraTata AIA Brand Ambassador, said, “The importance of being fit and active cannot be overemphasized. But being healthy is more than physical exercise and requires encompassing all aspects including mental, nutritional, and social health. I am proud to be part of the launch of Tata AIA Vitality in India, as I believe this is an important step in changing the way we look at health. By promoting good health, Tata AIA Vitality will contribute to transforming the health status of the people of India.”
The Vitality Wellness Program was established over 20 years ago in South Africa, and Vitality is guided by the wealth of data and information at its disposal. Vitality is able to continuously develop its models by leveraging its large data assets – over 50 million years of behavioral insurance data. Based on sound clinical and scientific research, it uses savings to motivate better health choices.
Application-based health programs provide age-based assessments to educate consumers about their health goals, how to lead a healthy lifestyle, and stay on top of factors that may put them at risk for disease. Users are assessed for health risks, with reviews related to 14 modifiable health risk factors. This app is specifically designed keeping in mind the convenience of consumers – users can access their Virtual Health Record (VHR) both online and in the app. Scientific evidence shows that members who actively participate in the program live longer and have lower health care costs.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, established by Tata Sons Pvt. Ltd and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s outstanding leadership positions in India and AIA’s presence as the largest independent life insurance group in Asia in the world covering 18 markets around the world. Asia Pacific region. For the financial year 2021-22, the total income of Tata AIA Life increased to 14,445 INR. Cr., growth of 30%. For the same period, the company registered a new retail business with an extra weight of INR 4,455 Cr. 13Th The company’s month-to-month survival is at 87.8%, and the individual death claim payout ratio is at 98.53%. One of the fastest growing companies in the life insurance sector, Tata AIA Life maintains its rank. 5, according to the personal weight of the new business Premium.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise, headquartered in India, includes 30 companies across ten verticals. The group operates in more than 100 countries across 6 continents, with a mission ‘to improve the quality of life of the communities we serve worldwide, through creating long-term stakeholder value based on trusted leadership’.
Tata son is the company that holds the main investment and promotes Tata companies. Sixty-six percent of the share capital of Tata son Held by a charitable trust, which supports education, health, lifestyle production and arts and culture. In 2021-22, the income of Tata companies, together, is 128 billion dollars (INR 9.6 trillion). These companies employ more than 935,000 people.
Each Tata company or enterprise operates independently under the guidance and direction of its own board of directors. There are 29 publicly listed Tata companies with a total market capitalization of 311 billion dollars (INR 23.6 trillion) onwards March 31, 2022. Tata companies include Tata Consulting Services, Tata Motors, Paint iron eyesTata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tathagata energyHotels India, Tata Communications, Tata Digital, and Tata Electronics.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent life insurance group in Asia. It is present in 18 markets – wholly owned branches and subsidiaries in mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2)and joint venture 49 percent India.
The AIA business was first established in Shanghai More than a century ago in 1919. It is the market leader in Asia (Example-Japan) based on life insurance premiums and holds a leading position across most of its markets. It has all the properties of 340 billion US dollars belongs to December 31, 2021.
AIA meets the savings and long-term protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and retirement services to corporate clients. Through a wide network of agents, partners and employees throughout AsiaAIA serves more than 39 million individual policyholders and more than 16 million who participate in group insurance programs.
AIA Group Limited is listed on the Main Board of the Stock Exchange of Hong Kong Limited under stock code “1299” with American Depositary Receipts (Level 1) traded over-the-counter (ticker symbol: “AAGIY”).
Disclaimer: The above press release comes to you under the auspices of PR Newswire. India Shorts has no editorial responsibility for the same.
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