KOLKATA, Nov 23: Tata AIA Life Insurance has announced that its customer app has crossed 1 million downloads.
” This milestone is yet another testimony to the growing trust and dependence of Tata AIA customers on its digital solutions that include the mobile app, consumer portal, and WhatsApp-enabled services,” the private insurer said in a statement on Saturday.
These solutions encourage a ‘Do-It-Yourself’ philosophy empowering Tata AIA consumers to experience convenient and seamless ways to manage their life insurance journey with the brand.
With this ultramodern app, consumers can manage their insurance policies from anywhere at any time. They need not visit a branch or print policy documents, as everything they need is available at their fingertips.
The app provides over 60 services 24×7, including premium payments, tracking claim requests, portfolio updates, sum assured, fund value, NAV details. It also offers industry-first features like Instant Loans, improving the consumer experience and enhancing the ease of transactions. Another ‘first of its kind’ feature includes instant customer service, where transactions get completed in real-time and the consumer is instantiated instantly.
“We are committed to enhancing our customers’ experience by continually innovating and expanding our digital offerings,” said Soumya Ghosh, Executive Vice President and Chief Technology Officer of Tata AIA.
“Reaching over 1 million app downloads is not just a number; it signifies our dedication to providing best-in-class services that meet the evolving needs of our customers.”
Through its sustained focus on digitization initiatives, Tata AIA has improved its instant issuance process with an end-to-end Straight Through Processing (STP) mechanism, which ensures an efficient and swift response to inquiries. Tata AIA ensures seamless digital services for its customers with an STP ratio of 97 percent in FY24.
In the past 12 months, the number of monthly active users has increased 2X with a daily and monthly active user engagement of 11 pc.
Due to its ease of use and best-in-class Consumer Experience, the app has seen a fivefold increase in digital transactions. Its user-friendly interface and functionality have earned the app an excellent rating of 4.7 on Android and 4.6 on iOS.
As proven by the impressive 92 Customer Satisfaction Score of its digital platforms, customer satisfaction remains the top priority for Tata AIA. The Persistency ratio which reflects the percentage of consumers who choose to renew their policies with Tata AIA, has earned the Company the top rank in four out of five cohorts, including
13th-month persistence. (UNI)
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