Tata AIA Partners with India?s Best-Known Comedians to Underline the Importance of Insurance
14.02.2024 - 15:42:44
Business Wire India
life.
Many consumers are aware of term insurance as a means to financial security, however, many fail to take full advantage of such solutions, being unaware of the benefits, e.g. 40+ critical illness coverage or whole life cover (up to 100 years). Some consumers believe that term insurance goes waste if the policyholder survives the policy period. What they don’t know is that some term insurance plans, including Tata AIA, return more than 100% of premium paid, when a policyholder survives the term insurance coverage period. Further, consumers are often poorly advised on how much coverage they need, to protect themselves and their loved ones ending up with inadequate coverage (<10X of their annual income).
Tata AIA’s new campaign focuses on these less-known facts, highlighting them in a humorous way. It thus breaks away from the traditional insurance communication that is serious and dry. Instead, the brand communicates the message in an educational and entertaining way.
Commenting on the campaign, Girish Kalra, Chief Marketing Officer, Tata AIA Life Insurance, said, “At Tata AIA, we are committed to empower consumers and equip them with the right financial advice and insurance solutions. To communicate these important aspects, we thought of going unconventional and partnered with Atul Khatri and Kenny Sebastian, two outstanding names in the stand-up comedy world. We are sure that our campaign and consumer-centric life insurance solutions will enable our consumers to be ‘har waqt ke liye taiyaar’ and lead a ‘fikar-free’ life.”
The task of creating the campaign was entrusted to the digital marketing and advertising agency, Admatazz. Sharing his experience Yash Chandiramani, Founder and Chief Strategist, said, “We had an absolute blast conceptualising and executing this campaign. The brief was very clear and based on strong insights. We had to unlearn a lot of advertising for this campaign as the films had to be as native as possible. It's exciting to see a life insurance brand take a not-so-serious route in India and we are even more excited to be playing a part in it.”
Protection focused products such as Term insurance go a long way in financially securing one’s loved ones in the absence of the chief bread earner. In the Retail protection segment, Tata AIA has continued to strengthen its leadership position. The Company registered a market share of 28% in retail sum assured amongst private insurers for the third quarter ending December 2023, making it the #1 in this category.
Further Tata AIA has been able to gain continuous consumer trust, measured through Persistency ratio i.e. % consumers who choose to renew their policy every year. This is measured at yearly intervals i.e. 13th, 25th, 37th, 49th, etc. months, wherein Tata AIA ranks No. 1 across these cohorts.
To disburse the claim amount quickly and without hassle, Tata AIA provides multiple channels for claim intimation. It also keeps the claimant informed at every stage of the claim process. Consumers can register claims through various platforms and touchpoints: Claims section of tataaia.com Website, WhatsApp, Branch Visits, Email, and Toll-Free Customer Care telephone.
Click here to view the campaign videos
Kenny Sebastian: https://youtu.be/x0NqWrB3Taw?si=jeaF1Wo_J9BIPGab
Atul Khatri: https://youtu.be/0oD65bB2JBY?si=6c8-ecVKjNvnPcxP
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) 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.
Tata AIA reported an Individual Weighted New Business Premium (IWNBP) income of INR 7,092 Cr in FY23, an increase of 59% over FY22. The Individual Death Claims Settlement ratio improved from 98.53% in FY22 to 99.01% in FY23. The Persistency ratio, reflecting the percentage of consumers who choose to renew their policies with Tata AIA, has earned the Company the top rank in four out of five cohorts, including 13th-month persistency. Compared to FY22, the 13th Month Persistency ratio (based on Premium) of the Company improved to 88.1%.
About the 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 2022-23, the revenue of Tata companies, taken together, was $150 billion (INR 12 trillion). These companies collectively employ over 1 million 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 $300 billion (INR 24 trillion) as on July 31, 2023.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets–wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across most of its markets. It had total assets of US$276 billion as of 30 June 2023.
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 pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 41 million individual policies and 17 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
Notes:
(1) Hong Kong SAR refers to the Hong Kong Special Administrative Region.
(2) Macau SAR refers to the Macau Special Administrative Region.
- Collaborates with popular stand-up comedians Atul Khatri and Kenny Sebastian to create a humorous campaign with a refreshingly new twist
- With their mass appeal, Atul and Kenny drive home the importance of Term Insurance plans and their unique benefits
life.
Many consumers are aware of term insurance as a means to financial security, however, many fail to take full advantage of such solutions, being unaware of the benefits, e.g. 40+ critical illness coverage or whole life cover (up to 100 years). Some consumers believe that term insurance goes waste if the policyholder survives the policy period. What they don’t know is that some term insurance plans, including Tata AIA, return more than 100% of premium paid, when a policyholder survives the term insurance coverage period. Further, consumers are often poorly advised on how much coverage they need, to protect themselves and their loved ones ending up with inadequate coverage (<10X of their annual income).
Tata AIA’s new campaign focuses on these less-known facts, highlighting them in a humorous way. It thus breaks away from the traditional insurance communication that is serious and dry. Instead, the brand communicates the message in an educational and entertaining way.
Commenting on the campaign, Girish Kalra, Chief Marketing Officer, Tata AIA Life Insurance, said, “At Tata AIA, we are committed to empower consumers and equip them with the right financial advice and insurance solutions. To communicate these important aspects, we thought of going unconventional and partnered with Atul Khatri and Kenny Sebastian, two outstanding names in the stand-up comedy world. We are sure that our campaign and consumer-centric life insurance solutions will enable our consumers to be ‘har waqt ke liye taiyaar’ and lead a ‘fikar-free’ life.”
The task of creating the campaign was entrusted to the digital marketing and advertising agency, Admatazz. Sharing his experience Yash Chandiramani, Founder and Chief Strategist, said, “We had an absolute blast conceptualising and executing this campaign. The brief was very clear and based on strong insights. We had to unlearn a lot of advertising for this campaign as the films had to be as native as possible. It's exciting to see a life insurance brand take a not-so-serious route in India and we are even more excited to be playing a part in it.”
Protection focused products such as Term insurance go a long way in financially securing one’s loved ones in the absence of the chief bread earner. In the Retail protection segment, Tata AIA has continued to strengthen its leadership position. The Company registered a market share of 28% in retail sum assured amongst private insurers for the third quarter ending December 2023, making it the #1 in this category.
Further Tata AIA has been able to gain continuous consumer trust, measured through Persistency ratio i.e. % consumers who choose to renew their policy every year. This is measured at yearly intervals i.e. 13th, 25th, 37th, 49th, etc. months, wherein Tata AIA ranks No. 1 across these cohorts.
To disburse the claim amount quickly and without hassle, Tata AIA provides multiple channels for claim intimation. It also keeps the claimant informed at every stage of the claim process. Consumers can register claims through various platforms and touchpoints: Claims section of tataaia.com Website, WhatsApp, Branch Visits, Email, and Toll-Free Customer Care telephone.
Click here to view the campaign videos
Kenny Sebastian: https://youtu.be/x0NqWrB3Taw?si=jeaF1Wo_J9BIPGab
Atul Khatri: https://youtu.be/0oD65bB2JBY?si=6c8-ecVKjNvnPcxP
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) 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.
Tata AIA reported an Individual Weighted New Business Premium (IWNBP) income of INR 7,092 Cr in FY23, an increase of 59% over FY22. The Individual Death Claims Settlement ratio improved from 98.53% in FY22 to 99.01% in FY23. The Persistency ratio, reflecting the percentage of consumers who choose to renew their policies with Tata AIA, has earned the Company the top rank in four out of five cohorts, including 13th-month persistency. Compared to FY22, the 13th Month Persistency ratio (based on Premium) of the Company improved to 88.1%.
About the 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 2022-23, the revenue of Tata companies, taken together, was $150 billion (INR 12 trillion). These companies collectively employ over 1 million 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 $300 billion (INR 24 trillion) as on July 31, 2023.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets–wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across most of its markets. It had total assets of US$276 billion as of 30 June 2023.
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 pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 41 million individual policies and 17 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
Notes:
(1) Hong Kong SAR refers to the Hong Kong Special Administrative Region.
(2) Macau SAR refers to the Macau Special Administrative Region.
