- Special on-ground initiative, ‘Bimarath’ organized in 13 districts, including Kolkata
- Masik Bima Diwas conducted at branches to educate walk-in customers about life insurance
- Social media campaigns with local flavour helped the company reach 30 lakh users with a nearly 11% engagement rate*
Tata AIA Life Insurance Co Ltd (Tata AIA), the Lead Insurer for West Bengal to drive insurance penetration in the state, has undertaken a diverse range of initiatives to spread insurance awareness. Supporting IRDAI’s vision of ‘Insurance for All by 2047’, Tata AIA has launched several initiatives across the state, including, Bimarath, an on-ground campaign, Masik Bima Diwas consumer connect program at company branches, and social media campaigns featuring local themes and influencers.
Bimarath On-ground initiative:
The Bimarath campaign by Tata AIA aims to spread insurance awareness in the Kolkata Metropolitan region and 12 districts across South and North Bengal. The campaign targets a diverse set of consumers in the state, including young professionals, stay-at-home parents, entrepreneurs, and MSMEs. It involves a specially branded mobile van equipped with a large LED screen, which displays insurance education videos while travelling throughout the state. Tata AIA employees, advisors and volunteers also conduct one-to-one education sessions with the locals, accompanied by informational leaflets in the local language to ensure better understanding.
As part of the Bimarath activity, Tata AIA offers free health check-ups at these locations under the supervision of trained medical professionals. These health camps provide residents with an overview of their primary health conditions, along with some important health indicators such as blood pressure, Body Mass Index (BMI), etc. Over 3000 residents have previously participated in these camps organized by Tata AIA.
The Bimarath in the Kolkata Metropolitan region, which began in the third week of November and will end in the first week of December, covers all popular locations throughout the city. So far, the campaign has helped reach over 10000 residents.
Apart from Kolkata, Bimarath will be conducted in December across multiple districts that include Purulia, Suri (Birbhum), Katwa (Purba Bardhaman), Ranaghat (Nadia), Berhampur (Murshidabad), Malda, Balurghat (Dakshin Dinajpur), Raiganj (Uttar Dinajpur), Jalpaiguri, Alipurduar, Cooch Bihar and Darjeeling.
Masik Bima Diwas:
Tata AIA has also been driving the cause for financial protection with the Masik Bima Diwas campaign. The second Thursday of every month is observed as Masik Bima Diwas by the life insurance industry. A variety of life insurance awareness activities are conducted at Tata AIA and branches of other life insurers throughout the state to inform consumers and associates about the importance of life insurance.
Social Media Campaign:
Tata AIA has used social media extensively to highlight the benefits of and life insurance and solutions to West Bengal residents. On Instagram, the company launched an influencer program that emphasizes the importance of life insurance protection, successfully engaging with the state’s young social media users. The company has tied up with influencers who have a strong connect with the local populace.
The company has reached over 30 lakh users on social media in West Bengal using topical and local themes in the last 8 months of the current financial year. The campaigns have been notably effective, with approximately 11% of users engaging with the posts, as demonstrated by an engagement rate of 10.75%. Engagement Rate is a measure of the number of people who like, comment or share a social media post.
Girish Kalra, Chief Marketing Officer of Tata AIA, said, “At Tata AIA, we are committed to IRDAI’s vision of ‘Insurance for All by 2047’. Our flagship on-ground activation program Bimarath campaign has covered 19 districts in West Bengal, reaching over 20,000 consumers. We have also created significant level of awareness through a localized social media campaign that has reached over 30 lakh consumers in FY25. We will continue to work towards spreading awareness of life insurance and protect the financial future of the people of West Bengal.”
Recruitment and sales boosts from awareness and penetration:
Coupled with these initiatives, Tata AIA has taken steps to improve its distribution reach in the state. In the last few months, the company has recruited over 3,000 to drive the insurance awareness and penetration agenda across the state.
* Engagement Rate is a measure of the number of people who like, comment or share a social media post
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region.
Tata AIA reported a total Premium Income of INR 25,692 crore for FY24, up 25% from FY23. The Company continues to rank among the Top 3 Private Insurers in Individual Weighted New Business Premium (IWNBP) with an IWNBP income of INR 7,413 crore. The Individual Death Claims Settlement ratio improved to 99.13%. The Company also achieved industry-leading Persistency performance (based on premiums), ranking #1 in four out of five cohorts.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.
The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.
In 2023-24, the revenue of Tata companies, taken together, was more than $165 billion. These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 26 publicly listed Tata enterprises with a combined market capitalisation of more than $365 billion as on March 31, 2024.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49% joint venture in India. In addition, AIA has a 24.99% shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
