TATA AIG SET TO OFFER INSURANCE SOLUTIONS TO FAMILY CREDIT CUSTOMERS

Mumbai: Tata AIG Life insurance company on Tuesday said that it will offer insurance solutions to the customers of Family Credit, the consumer finance organisation of Societe Generale. Through this partnership, Tata AIG life will provide personal loan insurance, a group insurance package for small-ticket personal loan (STPL) customers of Family Credit, an official release stated. Family Credit Life has a network of 35 branches and this will provide Tata AIG Life a ready-made platform to access Family Credit Life’s client base with its insurance solutions.

Personal loan insurance will provide effective cover against death of the customer due to any reason classified as natural, accident, sickness or illness, the release said. A customer-friendly feature of this plan is the waiver of medical tests up to a limit of Rs 5-lakh and till the age of 55 years. The product also has the flexibility of allowing the premium amount to be bundled with the loan amount. Tata AIG Life’s chief distribution officer Joydeep Roy said: “Even as we anticipate customer needs while designing insurance products, we are looking at associations with

companies like Family Credit to reach them.” “Partnering with Family Credit, is another step in that direction. Tata AIG Life focuses on understanding needs of different client segments and fine-tunes its offerings to provide value to customers,” Mr Roy added.

Source: The Economic Times, Deccan Chronicle, Business Standard