Tata AIA allows consumers to pay premiums through Whatsapp and UPI

Tata AIA has partnered with WhatsApp and PayU to make payments through Unified Payment Interfaces (UPIs) for their consumers more efficient

Tata AIA Life Insurance (Tata AIA) has introduced digital payments via WhatsApp and Unified Payment Interfaces (UPI). This feature provides an instant premium payment facility through WhatsApp and UPI-enabled payment options.

India currently has around 500 million WhatsApp users and more than 300 million UPI users. This option allows consumers a new channel to pay their premiums on an app that they are already familiar with.

This is also part of Tata AIA's goal to improve its Net Promoter Score (NPS), a system used to measure how well the company is meeting its consumer's needs and improving consumer behaviour.

The executive vice-president & head of operations of Tata AIA, Sanjay Arora said, "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.”

Whatsapp received the greenlight to launch its payments service in India from the National Payments Council of India (NPCI) in November 2020 with a cap of 20 million users. The limit was raised to 40 million users in November 2021. In April 2022, the NPCI further relaxed the cap on WhatsApp Pay to 100 million.

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The newly added payment option is first-of-its-kind in the insurance industry. Consumers can pay premiums digitally and receive their payment confirmation and acknowledgement, just as easily.

Tata AIA has also enabled renewal premium collections through multiple digital modes and enhanced its language capability to five languages, including English, Hindi, Tamil, Gujarati, and Bengali.

A communication drive via ‘WhatsApp’ and SMS services has been automated using Adobe based campaign management system, allowing the company to study behaviour and modify communication channels as needed.