Tata AIA launches payment facility with WhatsApp & UPI
By Gloria Mathias
Tata AIA Life Insurance (Tata AIA) has introduced digital payments via WhatsApp and Unified Payment Interfaces. This industry-first feature provides an instant premium payment facility through WhatsApp and UPI-enabled payment options.
The agile, seamless process allows consumers to pay premiums digitally and receive a quick premium payment confirmation and acknowledgement. In addition to being easy to use for both tech and non-tech-savvy consumers, it also offers a hassle-free premium payment experience.
WhatsApp and UPI have become household messaging and payment facilities, respectively, in India. This indicates the growing penetration of these new-age platforms. By introducing premium payment through these platforms, the firm is ensuring that it provides its consumers with the ease and convenience of doing a transaction through their preferred modes.
Sanjay Arora, Executive Vice President & Head of Operations of Tata AIA said, “At Tata AIA, we are committed to providing our policyholders with convenient, hassle-free premium payment options using modes that are preferred by them. Our bottom-up approach, armed with technology, allows us to understand the needs of our consumers and continually improve our services. Thanks to an in-house intelligent platform built in collaboration with WhatsApp and PayU, we have taken a significant step forward in improving consumer experience and enhancing the ease of transactions for them.”
Tata AIA has adopted an Analytics-driven, Decile-based approach to improve its renewal premium collections. The company has enabled renewal premium collections via multiple Digital modes and enhanced its language capability to 5 Languages – English, Hindi, Tamil, Gujarati and Bengali. Communication drive via ‘WhatsApp’ and SMS services have been automated using an Adobe-based campaign management system, enabling the Company to study behaviour and modify communication channels suitably.
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company formed by Tata Sons and AIA Group (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.
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