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Introduction
The winds of liberalization initiated vast changes in the functioning of the industry
today. Increasing number of multinational partnership with private insurers paved
the way for a radical shift in insurance selling- through a number of new
distribution channels besides bringing about more awareness on the need for
insurance and also stressing on the important role technology can play.
In the developed markets, many insurers have a preferred mode of distribution
(e.g., agents, brokers or banc assurance, DSA). In India, many players are
hedging their bets because the need for scale outweighs considerations of focus
and because non-agency distribution, which is presently operational for the last
two
Tata AIG has a corporate agency channel, which handles its corporate agents and
have tie-ups with 38 corporate houses.
Insurers want to lower distribution costs by finding more efficient channels. The
new private players are developing multiple channel models; many insurers use or
plan to use several banks as distributors. Because most banks have strong
regional bias, in this regards Tata AIG has
agency distribution) through that it is doing both life insurance and general
insurance business..
Because most banks have a strong regional bias, Insurers can use several banks
without creating large overlap. Many larger banks are sourcing products from
An important distribution challenge facing insurers is the need to meet the rural
and social sector legislative requirements stipulated in terms of market opening.
For Tata AIG, it takes rural insurance as an opportunity and not an obligation.
For
achieving objective in rural area it has also tie with NGOs(Bridge stone for
distribution of
as the whole topic of distribution can be known for the both company of Tata
AIG ( Life and General insurance). Gradually channels are incorporating day by
day for the growth of business.
In the span of two to three years Tata AIG achieve much more business growth
what it expected at the time of entrance in Indian market. It happened because it
has quality people, innovative management, be able to employ technology
effectively besides having right product.
EXECUTIVE SUMMARY
This project has been a great learning experience for me; at the same
time it gave me enough scope to implement my analytical ability. Tata
Group is one of the India's largest and most respected business groups.
Tata Group's name is synonymous with India's industrialization. Tata AIG
Insurance Solutions is one of the leading insurance companies that provide both life
insurance as well as general insurance. ThSis pioneer company is a joint collaboration
between the American International Group, Inc. (AIG) and Tata Group.
They own the company in the ratio of 26:74. It is a leading financial
institution that has carved a niche for itself all over the world. Tata AIG
Insurance Company is having different insurance policies. At the end of
the
project
organizations.
people
Project
will
is
be
on
knowledgeable
the
market
about
potential
various
study
of
insurance
Tata
AIG
RESEARCH METHODOLOGY
In this project descriptive research use. The research methodology adopted for
carriying out the study was at the first stage theoretical study is attempted and at the
second stage observedin an internet.
including
Consultants,
Executive
(Managerial),
and
associated