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TATA AIG travel insurance Why buy TATA AIG?

TATA AIG travel insurance review

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Sum Insured

USD 50,000 to 500,000

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Claims settlement ratio **

58.9%

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Incurred claims ratio

63%

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Number of policies issued *

6,05,894

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Number of lives covered *

7,40,370

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Brochure

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Policy Wordings

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There are many advantages of buying TATA AIG’s insurance plans online. Some of the advantages are listed below:

  • Tata AIG has been the undisputed market leader in the travel insurance market in India since inception in 2001 and till date enjoys the highest market share.
  • Tata AIG is a JV with AIG ($55 billion turnover) holding 24% share and balance 76% with Tata Group ($100 billion turnover Industrial conglomerate).
  • TATA AIG satisfies all statutory regulations of IRDAI in India.
  • AIG has Business Operations in 130 countries across the following Property, Casualty lines of business apart from Travel.
  • Tata AIG's Medical Assistance Company is Europe Assistance which is an AIG group company – They have 8 alarm centres across the world and managed around 267,000 travel claims during 2017.
  • Europe Assistance have the largest network of hospitals in USA, which is managed through their Houston alarm centre. The Rest of the World Assistance servicing is done through the alarm centre in Kuala Lumpur. At any given time the TATA AIG’s insureds will have access to faster medical assistance services at more number of specialty hospitals
  • AIG Travel Inc. is the worldwide Travel Insurance business was almost $1.05 billion across 80 countries including India. Clearly the leader and the most preferred company for the longest time in the World Market!

Note on AIG Inc. and its Worldwide Operations

  • Business Operations in 130 countries employing 60,000 people across the world
  • Lines of business include
    • General insurance that includes Accident & Health of which Travel Insurance forms a major part
    • Property & Casualty Lines of Business
    • Life Insurance and Retirement Services
    • Mortgage Insurance
  • 2017 revenues were at $55 billion

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