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Tata AIG General Insurance won the E-Commerce Award by Asia Insurance Technology Awards 2011. The glittering award ceremony was held at The Imperial Hotel in Seoul, South Korea, on November 9, 2011 and recognizes excellence and innovation in the use of technology within the insurance industry.
Winning this award reinforces TATA AIG’s efforts and innovation in the travel insurance space. Tata AIG started its online travel insurance platform last year in the month of March and has since made the buying process extremely quick, simple and efficient. Customers can buy travel insurance online in just two minutes and the facility is available 24x7. The payment can be made using a debit/credit card or via net banking. The policy gets issued in minutes and the policy document is sent immediately to the customer’s email id. According to Tata AIG, the programme has seen rapid uptake (month-on-month accretion of 27%).
Gaurav D. Garg, MD & CEO, Tata AIG General Insurance said, “Tata AIG with its leadership position in the Travel Insurance business pioneered the online travel insurance purchase and service platform giving customers the flexibility to buy travel insurance online round the clock in just 2 minutes; thus eliminating unnecessary delays, limitations of working hours or public holidays.”
“The online travel insurance by Tata AIG offers travel solutions for overseas travel customers, travelers within Asia, domestic travelers and students. Another distinctive advantage of the online system is that it offers online quote generation and online claims registration from anywhere in the world. The policy document is mailed to the customer instantaneously thus preventing any issues of delivery delays,” he added.
Dr. Neil Katkov, Senior Vice President of Celent’s Asian Financial Services Group from AITA said, “In this fast-paced world of social media, the insurance industry must get up to speed on what Generation Y uses; to ensure that they keep up with the times. The online era is an age which insurers and financial institutions alike, must grasp, if they are to reach out to the masses, ensure sustainable results and remain agile to future challenges. The Inaugural Asia Insurance Technology Awards is a step towards recognizing those insurance leaders who have foreseen, innovated and excelled in the use of technology to address the new paradigm and stay ahead of their competitors.”