TATA AIG Strengthens Tamil Nadu Health Insurance Portfolio with New Riders amid Strong Growth

Chennai, 12 November 2024: TATA AIG General Insurance, a leading general insurance provider in India, is strengthening its health insurance offerings in Tamil Nadu with five specialised riders: Mental Wellbeing, Empower Her, OPD Care, CanCare, and Flexi Shield. These riders are specifically designed to address the unique and diverse healthcare needs of the state’s residents, providing enhanced protection in areas such as mental health, women’s health, cancer treatment, and routine medical costs.

TATA AIG has established a robust presence across 31 districts in Tamil Nadu, with key branches in Chennai, Coimbatore, Madurai, Tiruchirapalli, Tirunelveli, and Salem. The company’s expansive network includes over 1000 hospitals, ensuring seamless access to cashless treatment for its customers across both urban and rural regions. With a well-established network of agents and digital platforms, the company is bringing quality health insurance solutions to every corner of the state.

This performance highlights the rising demand for quality insurance solutions in the state, which remains underpenetrated in terms of health insurance at just 5.35%.The state has seen cancer and heart disease are among the most frequently reported chronic conditions among TATA AIG health insurance policyholders. The highest share of chronic disease claims comes from the 46-55 age group, with a notable trend showing a higher percentage of chronic disease claims among females compared to males.

The company’s overall claim settlement of 90.16% (claim amount being settled) in FY24 significantly exceeds the industry average of 85%, demonstrating its commitment to providing efficient and hassle-free services. The company’s customer-first approach and digital innovations have led to a 250% growth in its health insurance business in Tamil Nadu since 2022.

Pratik Gupta, Senior Executive Vice President and Head of Agency, said, “Tamil Nadu holds immense potential, and TATA AIG is committed to making quality insurance accessible to all. Our remarkable growth here is a testament to our innovative products and customer-first approach. We are dedicated to providing top-tier, tailored insurance solutions that address the unique needs of our customers in the state.”

Through its continued focus on innovation, TATA AIG is poised to expand its presence in Tamil Nadu, ensuring more customers have access to comprehensive, high-quality health insurance coverage.