<p> Private insurer Tata AIG General Insurance Company has announced that it plans to soon come out with long-term two-wheeler insurance.<br /><br /></p>.<p>While a majority of insurance companies offer only one-year insurance, Tata AIG plans to take the long-term route. “We are planning to launch this soon” informed Tata AIG President (Insurance) M Ravichandran. <br /><br />The company’s products include liability, marine, personal accident, and travel among others. “We are known to be in the market as a technically sound company. Travel insurance is one area where we made a big difference in the marketplace. Before we came, travel insurance was slightly different. People had to go to insurance companies to buy travel insurance. <br /><br />The moment we came in, we converted all the travel agents at the point where the travel tickets are being sold. So we facilitated for issuing travel insurance policy as well, which we did through the deployment of technology,” he said, adding the company’s market share in travel insurance is 32-34%.<br /><br />Tata AIG is also looking at the emerging risks like cyber, “We have a special product for cyber liability. We introduced this two years ago, and in the market, 80% of the policies are Tata AIG policies,” he said, adding, “Our USP is that we are top leaders, we are product innovators.”<br /><br />“We may ask a lot of questions while taking an insurance policy because of underwriting, because we are very particular about it, but once they take the policy from us, the claim is very seamless,” he said.<br /><br />Ravichandran said that while penetration of life insurance used to be around 4%, the same now is hovering at around 2-3%. While the Indian general insurance market is growing at 11-12%, Tata AIG General Insurance is slightly ahead of the market, growing at 12-13%.<br /><br />“We expect it to grow further from the next year,” said Ravichandran.<br />Present in 88 cities, Tata AIG General Insurance Company is the joint venture between Tata Group and American International Group (AIG). Talking about the penetration of general insurance in India, Ravichandran said, “It used to be 0.6%, went up to 0.8%, and now it has come to 0.7%. The percentage is very low when compared with what we see in similar emerging countries, and it is far lower than what we see in developing countries.”<br /><br />Insurance indulgence<br /><br />Tata AIG plans long-term two-wheeler insurance<br />Company is bullish about travel insurance<br />Insurer is looking at emerging risks like cyber<br /><br /></p>
<p> Private insurer Tata AIG General Insurance Company has announced that it plans to soon come out with long-term two-wheeler insurance.<br /><br /></p>.<p>While a majority of insurance companies offer only one-year insurance, Tata AIG plans to take the long-term route. “We are planning to launch this soon” informed Tata AIG President (Insurance) M Ravichandran. <br /><br />The company’s products include liability, marine, personal accident, and travel among others. “We are known to be in the market as a technically sound company. Travel insurance is one area where we made a big difference in the marketplace. Before we came, travel insurance was slightly different. People had to go to insurance companies to buy travel insurance. <br /><br />The moment we came in, we converted all the travel agents at the point where the travel tickets are being sold. So we facilitated for issuing travel insurance policy as well, which we did through the deployment of technology,” he said, adding the company’s market share in travel insurance is 32-34%.<br /><br />Tata AIG is also looking at the emerging risks like cyber, “We have a special product for cyber liability. We introduced this two years ago, and in the market, 80% of the policies are Tata AIG policies,” he said, adding, “Our USP is that we are top leaders, we are product innovators.”<br /><br />“We may ask a lot of questions while taking an insurance policy because of underwriting, because we are very particular about it, but once they take the policy from us, the claim is very seamless,” he said.<br /><br />Ravichandran said that while penetration of life insurance used to be around 4%, the same now is hovering at around 2-3%. While the Indian general insurance market is growing at 11-12%, Tata AIG General Insurance is slightly ahead of the market, growing at 12-13%.<br /><br />“We expect it to grow further from the next year,” said Ravichandran.<br />Present in 88 cities, Tata AIG General Insurance Company is the joint venture between Tata Group and American International Group (AIG). Talking about the penetration of general insurance in India, Ravichandran said, “It used to be 0.6%, went up to 0.8%, and now it has come to 0.7%. The percentage is very low when compared with what we see in similar emerging countries, and it is far lower than what we see in developing countries.”<br /><br />Insurance indulgence<br /><br />Tata AIG plans long-term two-wheeler insurance<br />Company is bullish about travel insurance<br />Insurer is looking at emerging risks like cyber<br /><br /></p>
