Tata AIA launches m-Insurance in partnership with TTSL

Hyderabad : Tata AIA Life Insurance Co Ltd on Tuesday joined hands with Tata Teleservices Ltd (TTSL) to launch m-Insurance to put insurance cover over economically weaker segment of our society.

m-Insurance provides life insurance cover of up to Rs. 1 lakh for the telecom company’s prepaid subscriber base in Andhra Pradesh and Telangana as a pilot offer on select recharges, a joint statement said.

The Insurance Regulatory and Development Authority of India (IRDAI) Chairman T. S. Vijayan was quoted as saying this initiative was core to the mission of IRDAI, which is not just regulation but development too.

“A plan like m-Insurance uses technology to cut distribution and service costs, thereby, bringing protection to those who would otherwise find it unaffordable,” Vijayan said.

Indians within the age bracket of 18-80 years will be benefited under the scheme. No paper work or medical tests are required for the same.

Customers are auto-enrolled on purchase of Tata DoCoMo’s selected mobile recharge coupon (Special Tariff Voucher-STV), it was stated.