Tata-AIG, NGOs to design rural products

Mumbai: Non-governmental organisations (NGOs), scheduled to partner Tata-AIG General Insurance Company in its rural foray, will assist the private insurer design its products for that market.

Tata-AIG, which has separate companies for general and life insurance businesses, has decided to leverage the experience and research data of the NGOs to offer innovative products suited to that segment of the market, says Tata-AIG Insurance senior vice-president (marketing) Raj Raman.

"We will be working with different NGOs, depending on their presence and experience in various locations, and the products designed will address the specific needs of individuals residing in those areas," he said.

Tata-AIG, in the meantime, has launched a personal accident death insurance policy, Shanti, with Hindi film actor Naseeruddin Shah as its brand ambassador. The policy, which will initially be launched in Mumbai, is expected to pay up to Rs 1 crore in the settlement of claims for a premium of Rs 99 per month.