Mumbai, July 13, 2023: The Insurance Regulatory and Development Authority of India (IRDAI) has selected Tata AIG General Insurance Co. Ltd. as the lead non-life insurer for the State of Maharashtra to initiate and drive activities in collaboration with all other non-life and health insurance companies to increase insurance penetration in the State in line with its vision “Insurance for all by 2047”.
As the lead insurer, Tata AIG General Insurance Company Limited will collaborate with all non-life and health insurance companies working in the state of Maharashtra, the IRDAI and the State Government to create awareness of existing government schemes, enhancing insurance reach and accessibility across the state at the Gram Panchayat, district and state levels.
The State of Maharashtra, with a strong socio-economic profile, certainly requires exponential adoption of insurance for reducing the protection gap to support sustainable economic development within the state. The IRDAI has also identified key segments such as Motor Insurance, Health Insurance, Crop Insurance, support of MSMEs and employment related insurance solutions to drive overall insurance penetration in the state. Tata AIG will also assist in promoting the adoption of flagship government schemes such as Pradhan Mantri Jan Arogya Yojana (PMJAY).
Neelesh Garg, MD & CEO of Tata AIG General Insurance Co. Ltd., said, “We are excited to be appointed as the Lead Insurer and look forward to working closely with our colleagues in other non-life and health insurance companies, the insurance regulator and the State Government of Maharashtra to raise awareness and penetration of insurance to ensure financial protection for individuals and businesses alike. This is a step towards collaboration in creating a society which is insured and aware of the list of coverage offered by their insurance policy. It will enable the populace of Maharashtra to be insurance literate. We will leverage our expertise, technology, and partnerships to develop innovative insurance products and services that cater to the evolving needs of the people of Maharashtra.”
Known for its customer-centric approach and commitment to excellence, Tata AIG General Insurance currently serves millions of customers nationwide.
