"Life insurance plays a crucial role in providing income protection to individuals. Therefore, it is imperative to make life insurance solutions easier for the customers and the agents to understand, thereby making buy and sell of life insurance easier. Our new processes shall address this critical need," Tata AIA Life Senior Vice President & Chief Agency Officer Sachin Joglekar said in a statement here.
Tata AIA Life is one of the first insurance companies in India to fully switch over to a 'Standard Proposal Form' for all products consequently offering convenience in making completion of applications faster and easier for the customers. This also makes the agent sales kit lighter since different proposal forms for different products would not be required any further, Joglekar said.
The company has launched 'Express 50' initiative, which makes the process of buying life insurance hassle-free for the company's target group of customers. This initiative will enable customers to buy higher protection cover faster by optimising the requirements of documents through simpler underwriting norms.