About
Tata Group
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 globally, through long-term stakeholder value creation based on Leadership with Trust’.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2019-20, the revenue of Tata companies, taken together, was $106 billion (INR 7.5 trillion). These companies collectively employ over 750,000 people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $123 billion (INR 9.3 trillion) as on March 31, 2020. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Advanced Systems, Indian Hotels and Tata Communications.
Culture at Tata AIA Life Insurance
Being a part of the Tata Group, we align our vision to the Tata Group Core Purpose: To improve the quality of life of the communities we serve through long-term stakeholder value creation.
At Tata AIA Life Insurance, we firmly believe that our employees are the key to our success. Our employees share the following strong characteristics: integrity, performance-driven mindset, share entrepreneurial spirit and deploy market-facing strategies.
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Tata AIA Life Wins Extraordinaire Award
Tata AIA Life Insurance has won the Extraordinaire Award at the 5th edition of Brand Vision Summit 2019-20. The award has been conferred upon our MD & CEO, Mr. Rishi Srivastava, for the role that Tata AIA Life has played in addressing the Life Insurance Protection Gap in India.
Mr. Anurag Thakur, Hon'ble Minister of State, Finance and Corporate Affairs, Government of India, who was the Chief Guest at the event, gave away the award which took place in Mumbai on 20th February.
Some of the other winners of awards were Abbott India, Xiaomi India, Cairn India, Hindware Appliances and Carl Zeiss.
Every year Brand Vision honours India’s leading achievers across Corporate, Healthcare, Philanthropy, Education & Entertainment sector, and highlights the strategies and steps adopted by them for the growth of their brands.
The event is supported by leading English news channel Times Now. .....Read more
Tata AIA Life Wins two top PR awards
Tata AIA Life has won two top industry awards for its PR campaign for creating awareness about the need for Life Insurance Protection in India.
The Company won the Best Communication Strategist of the Year award, at the Corporate communication & PR summit, organized by Morpheus Enterprise. The other award is for the Best Direct-to-Consumer PR Campaign of the Year, at the 2020 Customer Fest Show, organized by Kamikaze Media.
To support the vision of Tata AIA Life to become the pre-eminent protection provider in the country, the Corporate Communications team started the campaign in 2018, which resulted in a significant increase in brand recall and thought leadership position in Protection solution space in the industry.
Awards Won by Tata AIA Life – 2019
- 2019 Aon Best Employer Award
- 2019 India Insurance Summit & Awards – InsureTech Company of the Year
- 2019 Annual Masters of Modern Marketing Awards & Conference – Best Influencer Marketing Campaign
- 2019 UBS Forum Out of Box Compliance Program Award - Compliance Team of the Year
- IDEAFEST Most Trusted CEO of the Year – Rishi Srivastava
Tata AIA Life wins 2019 Aon Best Employers Award fourth time in a row
Tata AIA Life Insurance Pvt. Ltd. (Tata AIA Life), the life insurance joint venture promoted by the Tata Group and AIA Group, has been recognized Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of human capital, risk, retirement and health solutions. The Aon Best Employers program evaluates employee opinions to measure employee engagement, leadership, performance culture, employer brand and recognizes employer excellence worldwide.
"At Tata AIA, we have built a high-performance work culture. And a company with a mind and a heart when it comes to people, highly professional, focused on delivery and business results, and yet with a heart, where we care for people." says Bhesania. The initiatives, she says, put people in the spotlight right from 'hire to retire' says Kristyl Pais Bhesania, Executive President and Head HR at Tata AIA Life Insurance. ...Read more
The AON Best Employers India 2019 study covered 125 companies. A rigorous analysis is run to measure the alignment between intent, design and experience, assessed through:
CEO survey
CEO interview
People practices survey
Employee opinion survey
A shortlisted set taken through an intense on-site audit to validate the details; client names are masked during this process
An external panel of unbiased jury to evaluate the participants
Tata AIA Life Insurance has taken several initiatives to ensure that its employees enjoy their job, understand clear business goals and deliver optimum results. The company strongly believes that 'pleasure in the job puts perfection in the work'. The Company has an innovative performance management and recognition process, that ensures that the employees consistently deliver on time with the highest quality.
About the Aon Best Employers study
The Aon Best Employers programme is a global study, which was first conducted in 2001. In Asia, it is run in 12 markets: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand, Australia and New Zealand. Participation in the programme helps define what makes a winning workplace.
About Aon
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Its 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics, to deliver insights that reduce volatility and improve performance.
Awards Won by Tata AIA Life – 2018
- 2018 Aon Best Employer Award
- Great Manager Award 2018
- 2018 TAVF Awards – Best Digital Campaign (Best use of Video)
- 2018 Legasis Compliance Team of the Year Award
27th November 2019 | 5 min |
The sooner you kick start your retirement plan, the better it is. An early beginning certainly has a number of advantages; your money has more time to grow and attain a substantial proportion. Make sure the corpus is adequate to help you maintain your lifestyle during your golden years. Don’t forget to factor in inflation.
In India, the average life expectancy has seen a rise in the past few years. Life expectancy has grown from 47 years in 1969 to 69 years in 2019. Increasing life expectancy also means an increased number of post retirement years to plan for.
In today’s times, with evolving lifestyle, many a times savings and planning for retirement is put on the back burner. However, this is obviously not the optimal approach. It is imperative that you have a ready financial plan in place so that you wouldn’t have to compromise on your lifestyle when you don’t have an active source of income anymore.
In order to make a comprehensive retirement plan, you will have to consider the following factors:
Starting early
The maxim 'Early bird gets the worm' assumes significance when it comes to retirement planning. Early-mover advantages are aplenty, considering your money can compound and become a substantial amount over a period of time.
For example, Rs. 1 Lakh invested every year starting at age 35 leads to a corpus of Rs. 79 Lakh for retirement at age 60 (assuming investment returns @8% per annum. If one begins savings just 5 years earlier, from age 30, they would be able to create a retirement corpus of 1.2 Cr. (50% extra).
Saving more
This is certainly the basic when you begin planning for retirement. You’d have to factor in your lifestyle, have a tentative list of needs in mind going forward, and count in probable medical expenses during your sunset years. This way, you’d be able to zero in on an amount that would help you maintain a respectable lifestyle and fulfil other life goals. It is recommended that one should at least save 20% of the income.
Projecting rate of inflation
In order to fully understand the amount you’d require post-retirement, projecting future rate of inflation is of paramount importance. While inflation doesn’t usually fluctuate much over the shorter term, chances are it would in the long-run. Hence, it is crucial to factor in inflation prior to evaluating your investments.
In case you overlook this step, you might end up accumulating an inadequate corpus that would not be enough to take care of your financial needs once your active income years have already passed you by.
Knowing your risk appetite
You should choose appropriate financial instruments to construct your retirement saving portfolio depending on the quantum of risks you’re willing to take. For instance, while investments in equity have the potential to deliver higher returns, they entail a higher degree of risk. On the other hand, debt instruments - while keeping risks in check - potentially offer steady but lower returns.
While risk appetite varies from person to person, experts recommend keeping a higher proportion of retirement savings in high risk-high return instruments (such as equities) in the earlier stages of retirement saving, progressively moving to debt-oriented instruments as one approaches the date of retirement.
Tata AIA Life Insurance has on offer a gamut of retirement solutions to help you plan your finances better. You can invest your hard-earned wealth in such solutions so that you can live life on your own terms, even after you’ve retired.
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Disclaimer
Insurance cover is available under the product offered are underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
About
Tata AIA life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in the Asia Pacific region. For the financial year 2020-21, the total premium income of Tata AIA Life increased to Rs. 11,105.09 crore, a growth of 34%. For the same period, the Company registered retail new business weighted premium of Rs. 3,416 crore. The 13th month persistency of the Company was at 88.28%, and the Individual Death Claims Settlement ratio was at 98.02%. One of the fastest growing companies in the Life Insurance sector, Tata AIA Life maintained its rank no. 5, based on individual weighted new business premium.
Our vision
To enable dreams, and inspire healthier, happier lives, and become the pre-eminent insurance provider in the country.
Our mission
To provide the best and simplest life and health insurance solutions, that are in sync with the customer’s individual needs and life goals.
Our values
Consumer obsession
Adopt customer-centric approach, with customer satisfaction being of paramount importance
Innovate solutions and services to better serve our customers
Transparently deliver on promise
Passion for excellence
Set and achieve the highest standards
Do the Right things in the Right way
Take accountability and drive results
Pioneer Change
People - Our core
Create and take distinctive opportunities for development
Demonstrate courageous leadership at all times
Exceptionally reward outstanding performance and right behaviour
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About Us
Board of
Directors
Mr. Saurabh Agrawal
ChairmanMr. Saurabh Agrawal is the Group Chief Financial Officer of Tata Sons, the holding company and promoter of over 100 Tata companies. Saurabh joined Tata Sons in June 2017 from the Aditya Birla Group where he was the Head of Strategy.
In a career spanning over two decades, Saurabh has been the Head of Investment Banking in India for Bank of America Merrill Lynch and also Head of Corporate Finance business in India and South Asia for Standard Chartered bank.
Mr. Saurabh has wide-ranging experience in strategy and capital markets where he had a ringside view of the evolution of the Indian economy since the mid-90s. He advised clients on transactions valued more than US$16 billion. In addition, Saurabh has helped various large Indian and Global corporates raise over US$10 billion from the capital markets. In his advisory capacity, Saurabh has advised several business groups like Tatas, AV Birla, GMR, ICICI, Bharti, DLF, etc.
In his role as Group CFO, Saurabh will be focused on driving the financial performance of the group through rigor and synergy in capital allocation, investment management decisions, and portfolio optimization.
Mr. Saurabh completed his undergraduate degree in Chemical Engineering from IIT Roorkee and has a post-graduate management degree from IIM Kolkata. He lives in Mumbai with his wife Shelly and two children. He is an avid reader, outdoors enthusiast & movie buff. He enjoys playing badminton and squash.
Mr. Naveen Tahilyani
Chief Executive Officer and Managing DirectorNaveen brings with him rich experience of over two decades in financial services -- Insurance, Banking & Asset management. His association with Tata AIA commenced in 2015 as CEO & MD of the Company where he led the organisation’s transformation by turning around the vital metrics of company and catapulting Tata AIA from a no. 17 position [based on IWNBP] to no. 5 in a span of three and a half years. Under his stewardship, Tata AIA scripted profitable growth by nurturing a performance oriented culture and building capability to deliver on aggressive targets. Distribution channels grew significantly as new partnerships were forged and the company consolidated its successful omni-channel strategy. Tata AIA scaled to no.2 position in Claims Settlement ratio as well as on 13th month persistency and initiated Dynamic Net Promoter Score [NPS] which became a game changer in the industry. During his tenure, Tata AIA also became the proud recipient of the AON Hewitt Best Employer award two years in a row. Thereafter, Naveen moved to AIA, as CEO - Group Partnership Distribution for the next one and a half years. He rejoined Tata AIA as CEO and MD after a brief stint at Axis Bank in a senior management role.
He has served as Senior Partner at McKinsey & Company, based in Mumbai and led the Financial Services practice in India and South East Asia (Singapore, Malaysia, Indonesia, Thailand, Philippines , Vietnam). At McKinsey he worked with some of the largest public, private and foreign financial services institutions.
Naveen holds an MBA from Indian Institute of Management, Ahmedabad, and a Bachelor of Technology from Indian Institute of Technology, Madras. Naveen is passionate about running, is an avid reader and loves watching science fiction.
Mr. William Lisle
Non-Executive DirectorMr. Lisle is Regional Chief Executive with responsibility for Malaysia, Korea, Sri Lanka, India and Cambodia. Mr. Lisle was Chief Executive Officer of AIA’s operation in Malaysia from December 2012 to May 2015 including leading the large-scale and successful integration of AIA Bhd.
Mr. Lisle joined the Group in January 2011 as Group Chief Distribution Officer. Prior to joining AIA, Mr. Lisle was the Managing Director, South Asia for Aviva Asia Pte Ltd. (“Aviva”) from May 2009 until 2010.
Prior to Aviva, Mr. Lisle held a number of senior positions at Prudential Corporation Asia, including as their Chief Executive Officer in Malaysia from 2008 to 2009 and their Chief Executive Officer in Korea from 2005 to 2008; as Chief Agency Officer for ICICI Prudential from 2002 to 2004 and as Director of Agency Development, South Asia in 2001.
Mr. D K Mehrotra
Independent DirectorMr. Mehrotra retired as Chairman of India's largest insurance company, Life Insurance Corporation of India in May 2013. During his career spanning 36 years he has worked across various operating, service and strategic departments in India and abroad and held important positions such as In-charge of divisions, Head of Zonal Office and also headed the international operations of the corporation.
He assumed charge as Managing Director of LIC in 2005 and was a key member of the strategic and policy making committees of the corporation. He also oversaw the corporation's marketing operations, including customer relations and spearheaded initiatives in information technology systems and processes in the corporation. Alongside, he supervised the investment portfolio of the corporation, with a book size of over Rs.14 Lakh crores in FY13. He assumed the reins of the Corporation as the Chairman in June 2011.
He also played the role of convener for the Expert Group Committee, formed by the Govt. Of India, under Chairmanship of Shri Vepa Kamesam in September 2010 for giving suggestions on improving the functioning of LIC, including processes relating to Investments of LIC.
He chaired various internal and external boards of the corporation and its associates such as the Housing Finance Limited, LIC Nomura Mutual Fund Limited, LIC Credit Cards and New Pension Scheme (an initiative of the Government of India). He also represented Indian insurance in international forums.
During his stewardship of LIC, the corporation regained its market share from peers and established itself as a market maker. He guided the creation of LIC's Vision 2020 program, under which the corporation aspires to provide a life insurance policy to every insurable citizen in the country by 2020. Presently he is serving as Director on the Boards of a number of diverse Companies, to name a few, IEX, MCX and others.
Mr. Harish Bhat
Non-Executive DirectorHarish Bhat is Brand Custodian, Tata Sons Ltd., and a veteran of the Tata Group. He joined the Tata Administrative Service (TAS), the central management cadre of the Group, in 1987.
During his career of 30 years with the Tata Group, Mr. Bhat has served in several senior roles. These include stints as Managing Director of Tata Global Beverages Ltd., Chief Operating Officer of the Watches and Jewellery businesses of Titan Company, and also in the telecom business of the Group. He has played a key role in several strategic moves over the past two decades, including the launch and nurturing of many iconic brands, the successful turnaround of the jewellery business, as well as the acquisition of Tetley..
Mr. Bhat is an alumnus of BITS Pilani and IIM Ahmedabad, graduating top of his class in both Institutions, and winning the IIM Ahmedabad Gold Medal for scholastic excellence. In 1997, he won the Chevening Scholarship for young managers, awarded by the British Government. He has strong professional interests in strategy, consumer behavior, business economics and business history. He has been a member of the Consumer Insights Panel of the Economic Development Board, Government of Singapore. He has also represented the Tata Group on the Executive Committee of the World Federation of Advertisers..
Mr. Bhat is passionate about writing, and is a prolific writer who contributes regularly to various publications. In 2012, his first book was published by Penguin. Titled “Tata Log”, the book narrates stories from the modern history of the Tata Group, set to an overarching theme.
Ms. Aarthi Subramanian
Non-Executive DirectorMs. Aarthi Subramanian is the Group Chief Digital Officer at Tata Sons Limited, reporting to the Group Executive Chairman. A professional with over 28 years of experience in the global technology sector, Ms. Subramanian started her career with Tata Consultancy Services (TCS), and worked in diverse roles in India, Sweden, the United States and Canada, thereby gaining rich experience in consulting engagements, and management of large-scale technology programs, as well as operations.
At TCS, Ms. Subramanian was an Executive Director and Global Head of Delivery Excellence, Governance & Compliance. She was responsible for driving excellence in service delivery, governance of key programs & initiatives, as well as enterprise-wide compliance. Prior to this role, Ms. Subramanian was the Head of Delivery for seven years with the TCS Retail & CPG Business unit, where she was responsible for several strategic accounts and major clients. She led the team to achieve excellence in customer service through relentless customer focus, rigor in service delivery, and proactive value addition focus. Ms. Subramanian also played a key role in setting up the SAP Center of Excellence in Chennai. Ms. Subramanian started her career as a graduate trainee in TCS in 1989, and she went on to become an analyst, project manager and then moved from Account Management roles to a Senior Executive role in TCS.
Ms. Subramanian holds a B.Tech degree in Computer Science from National Institute of Technology, Warangal (India), and a Masters degree in Engineering Management from University of Kansas (USA).
Mr. Garth Jones
Non-Executive DirectorMr. Garth Jones is the AIA Group Chief Financial Officer responsible for leading the Group in all aspects of capital and financial management, as well as managing relationships with key external stakeholders, including independent auditors and actuaries, rating agencies and international accounting and regulatory bodies. He is a director of various companies within the Group, including AIA Co. and AIA International. He joined the Group in April 2011.
Prior to joining the Group, Mr. Jones was the Executive Vice President of China Pacific Life Insurance Co., Ltd., the life insurance arm of China Pacific Insurance (Group) Co., Ltd. He also held a number of senior management positions during 12 years with Prudential Corporation Asia Limited, including Chief Financial Officer of the Asian life insurance operations. Prior to joining Prudential, Mr. Jones led the development of Swiss Re’s Asia life business.
Mr. Jones is a Fellow of the Institute and Faculty of Actuaries in the United Kingdom. On 1 June 2016, he was appointed a member of the industry advisory committee on long term business, which advises the Independent Insurance Authority in Hong Kong. Mr. Jones is also a member of the IFRS Advisory Council of the International Accounting Standards Board.
Ms. Alice Vaidyan
Independent DirectorMs. Vaidyan is the first lady officer to assume the post of Chairman-cum-Managing Director of General Insurance Corporation Of India and the first lady chairman-cum-managing director in the Indian General Insurance Industry. She has over 36 years of experience and is considered among the foremost insurance experts not only in the Indian insurance and reinsurance industry, but also across the globe.
She joined The New India Assurance Company aa a direct recruit office and rose to the level of Deputy General Manager in 2008. She then moved to GIC to become General Manager in 2012 and CMD in January 2016.
During her tenure at the helm of GIC Re , the company became the 10th largest reinsurer globally and was recognised by Forbes as among the 250 best regarded global companies, growth champions and best employers. She also led the largest IPO in the financial sector in India during the successful listing of GIC Re in 2017.
She has won several national and international awards. Ms. Vaidyan is the only Indian in Fortune’s Global list (2018) of 50 Most Powerful Women in Business. Freedom (or Freedom Honoris Causa) of the City of London is the greatest honour that is in the power of the City of London to bestow. In April 2019, Mrs Vaidyan was honoured with the Freedom of City of London in recognition of her work to promote insurance ties between India and UK. She won the CEO of The Year award by ET Prime at the Economic Times Prime Women Leadership Awards for 2019. Business Today recognized her as one of the 30 most powerful women in Indian business in 2016, 2017 and 2018. FORTUNE India announced Ms. Alice G Vaidyan, as the 4th most powerful woman in Business in 2018 on "Most Powerful Women in Business”. ASSOCHAM presented Mrs Vaidyan, the Leadership Excellence Award in February 2019.
Ms. Vaidyan was on the Boards of Life Insurance Corporation of India, ECGC Limited, Kenindia Assurance Co. Ltd., Indian Register of Shipping, GIC Housing Finance Ltd., GIC Re South Africa , GIC Re Lloyds Syndicate 1947, Asian Reinsurance Corporation, Bangkok International Insurance Society New York and National Insurance Academy.
Ms. Vaidyan holds a post graduate degree in English Literature and has trained at Harvard Business School. She is a fellow of the Insurance Institute of India. She is an avid reader and plays the piano in her spare time.
Tata AIA Life continues to deliver strong business performance in Q3 FY22
Tata AIA Life continues to deliver superior performance in FY22
Tata AIA Life Insurance opens 100 New Digitally Enabled Branches in major distribution thrust
Tata AIA Life reinforces its commitment to Customer Centricity with its Rakshakaran Week
Tata AIA Life Consumers Can Now Avail Telemedicine Services from Practo
Neeraj Chopra, Olympic Gold Medallist signs first brand endoresment with Tata AIA post Tokyo Win
Tata AIA extends 'Raksha ka teeka' to its employees; almost all vaccinated
Tata AIA extends Covid insurance cover to over 41,000 advisors and their families
Tata AIA Life Insurance delivers industry leading performance even in a highly challenging year
AIA Supports India In COVID Crisis with US$2.5 Million Contribution
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Tata AIA Life Insurance hosts virtual Health and Wellness event featuring global icon, David Beckham
Tata AIA Life Insurance appoints Naveen Tahilyani as Chief Executive officer and Managing Director.
Tata AIA Life Insurance goes from protecting people’s future to protecting the environment too
Tata AIA Life Insurance emerges as the fastest growing life insurance company in India
Tata AIA appoints Rishi Srivastava as Chief Executive officer and Managing Director
Tata AIA launches brand campaign 'Love Unconditionally', a new take on true love
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Tata AIA launches a bouquet of protection solutions
Tata AIA Life introduces a host of initiatives to improve customer experience
Tata AIA Life Insurance Launched Fortune Guarantee
Tata AIA Life Insurance Money Back Plus promises many happy returns
Tata AIA Life launches 'Revive' to highlight the need of Life Insurance Protection
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Disclaimer
# Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
* Insurance cover is available under the products.
* The products are underwritten by Tata AIA Life Insurance Company Limited. The plans are not guaranteed issuance plans, and they will be subject to the Company’s underwriting and acceptance.
- This document is for information and illustrative purposes only and does not purport to any financial or investment services and do not offer or form part of any offer or recommendation. This document is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
- Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.
·
Every effort is made to ensure that all information contained in this document is accurate at the date of publication, however, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.
- This document is for information and illustrative purposes only and does not purport to any financial or investment services and do not offer or form part of any offer or recommendation. This document is not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
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