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update: December 5, 2022 12:02 IST
Mumbai (Maharashtra) [India], December 5 (ANI/PRNewswire): Tata AIA Life Insurance (Tata AIA) has received the Excellent Workplace Certificate, which highlights the best workplaces in the country. This recognition is awarded by the Great Place to Work® Institute, based on a rigorous work culture assessment process. The recognition requires that 70% or more of the company’s employees rate it as an excellent place to work and is considered the most prestigious achievement for a people-based organization.
A four-step process is used to conduct the verification process.
– The trust index is the first step, which consists of an employee survey.
– Culture Audit that evaluates the organization’s people performance through a detailed assessment
– Eligibility criteria – Following the evaluation, the institution determines that the organization meets the criteria for qualification.
– Actionable understanding – In the last stage, the organization has been creating a people winning strategy.
Earlier this year, Tata AIA was recognized as one of India’s best employers for 2022, according to Kincentric’s premium assessment. The program identifies organizations that demonstrate good people practices. Perfect and great place to work. Tata AIA Life won the award for the sixth year in a row and was the only life insurance company in India to be shortlisted from 15 other organisations.
On this occasion, Krisstyle Pais Bhesania, President and Head of Human Resources, said “Research suggests that employees who are happy with their employer and who feel that their employer provides good work opportunities are more likely to stay with their organization and contribute more. At Tata AIA Life, we strongly believe that our people are our greatest asset, and we have created a high-performance work culture that promotes high levels of engagement among our teams. It is an honor to be named Kincentric’s Best Employer and to receive the Excellent Workplace Certificate, both of which demonstrate our dedication to our employees.”
Tata AIA has always placed employee welfare at the forefront of its priorities. The company implements several initiatives throughout the year to ensure that its workforce is always engaged, happy, and motivated. These include birthdays and anniversaries, hidden leaves, special events for family members, recognition for new talent, consistent actors, long service employees. In addition, the company has a policy regarding no call/meeting/day (especially weekends) etc. The company strives to continue to expand its people-friendly practices as it moves forward in its journey as an employer of choice.
Great Place to Work® is the global authority on creating, sustaining and recognizing trust. High, high performance CultureTM at work. Its mission is to create a better world by helping organizations become great places to work for everyone. Creating a great work culture is better for people, better for business and better for the world. The organization serves business, non-profit and government organizations in more than 60 countries, across six continents, touching more than 10,000 organizations each year. Contact us to know more.
A brief summary of the Kincentric Best Employer Program:
Kincentric’s Best Employers program is based on comprehensive employer engagement data, using objective measures of employee feedback to identify top employers. Backed by 20 years worth of data on employee experience, Kincentric Best Employers recognizes top organizations worldwide, using the most objective measure possible – employee feedback. It differs on the key people factors to accelerate success: high employee engagement, deep agility, leadership involvement and talent focus. We partner with clients to improve the health of their organizations from the inside out by driving sustainable change. Becoming the best employer results in better business results, more effective transformation, greater organizational effectiveness, and improved outcomes for all stakeholders.
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 prestigious leadership position in India and AIA’s presence as the world’s largest independent Asian life insurance group covering 18 markets in the Asia Pacific region. For the financial year 2021-22, the total premium income of Tata AIA Life increased to 14,445Cr., a growth of 30%. For the same period, the company registered an extra weighted retail business of INR 4,455 Cr. The company’s 13th month survival rate was 87.8%, and the individual death claim settlement ratio was 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.
Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission ‘to improve the quality of life of the communities we serve worldwide, through long-term stakeholder value creation based on trusted leadership’.
Tata Sons is the main investment holding company and promoter of Tata Corporation. Sixty-six percent of the share capital of Tata Sons is held by the company’s philanthropy, which supports education, health, livelihoods and arts and culture. In 2021-22, Tata’s revenue, combined, is $128 billion (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 combined market capitalization of $311 billion (INR 23.6 trillion) as of March 31, 2022. Tata companies include Tata Consulting Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Digital, and Tata Electronics.
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 – branches and wholly-owned 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 49 percent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is the market leader in Asia (formerly Japan) based on life insurance premiums and holds leading positions across most markets. It has total assets of US$340 billion as of December 31, 2021.
AIA meets the long-term savings and 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 an extensive network of agents, partners and employees across Asia, AIA serves more than 39 million individual policyholders and more than 16 million members of 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 in the over-the-counter market (ticker symbol: “AAGIY”).
Listed on the OTC market (OTC Pink: AAGIY).
This story was provided by PRNewswire. ANI is not responsible in any way for the content of this article. (ANI/PRNewswire)
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