Tata AIA Life Insurance Achieves Milestone of 1 Million App Downloads

Varahi mmedia.com online news,Mumbai, November 21, 2024: Tata AIA Life Insurance (Tata AIA), a leading name in India’s life insurance sector, has announced a significant achievement-its customer app has surpassed 1 million downloads.

This milestone reflects the growing trust of Tata AIA customers in its suite of digital solutions, which include a mobile app, consumer portal, and WhatsApp-enabled services.

These platforms emphasize a “Do-It-Yourself” approach, empowering users with convenient and seamless ways to manage their life insurance needs.

The advanced Tata AIA app allows customers to access and manage their insurance policies anytime, anywhere, eliminating the need for branch visits or printed documents.

The app delivers over 60 services round-the-clock, such as premium payments, claims tracking, portfolio updates, and fund value checks. Industry-first features, including Instant Loans and real-time customer service transactions, enhance the overall user experience.

Additionally, the app promotes holistic health and wellness through 12+ innovative services, such as outpatient consultations, diagnostics, virtual consultations, emotional wellness, nutrition management, and emergency care.

“We remain committed to elevating our customers’ experiences by continuously innovating and enhancing our digital capabilities,” said Soumya Ghosh, Executive Vice President and Chief Technology Officer of Tata AIA.

“Crossing the 1 million downloads mark is a testament to our dedication to providing best-in-class digital services tailored to meet our customers’ evolving needs.”

Through its strong focus on digitization, Tata AIA has streamlined the insurance journey with an end-to-end Straight Through Processing (STP) mechanism, achieving a remarkable 97% STP ratio in FY24.

The app also integrates native UPI payment systems and enables secure transactions without requiring CVV inputs. With 100% digital platform uptime in the current financial year, Tata AIA ensures uninterrupted access for its users.

Key achievements of the Tata AIA app in the past year include:

• 2X increase in monthly active users.
• 5X growth in digital transactions due to a user-friendly interface.
• High customer engagement, with an 11% daily and monthly active user rate.
• Excellent ratings: 4.7 on Android and 4.6 on iOS.

The app’s success is further evidenced by a 92% Customer Satisfaction Score and its top-ranking persistency ratios across various cohorts, including the critical 13th-month persistency metric.

Tata AIA Life Insurance continues to set benchmarks for digital excellence, making life insurance accessible, efficient, and customer-centric.

About Author