Tata AIG's rural policy launch soon

Tata AIG Life Insurance Company, a private life insurance player, is planning to add rural health insurance product to its rural insurance portfolio.

Talking to Business Standard, Joydeep Roy, chief distribution officer, Tata AIG Life Insurance, said, "The company is coming up with rural health insurance product in the next six months".

However, the company is yet to finalise the features of the product and whether the health insurance product would be combined with life insurance.

Before the product is launched, the company has to comply with the micro-insurance guidelines, informs Roy.

"We are yet to file for the permission for rural health product with Insurance Regulatory and Development Authority (IRDA)", adds Roy.

Apart from launching rural health insurance product, the company is also working on creating a new distribution channel to market its insurance products in the rural areas of the country.

Speaking on the company's efforts to find out a new distribution model for its rural insurance products for the rural markets, he said, "We are working to find out a innovative ways of distribution of our life insurance product in rural market".

He further said, "Just like agricultural produce moving without restricted to any one market, we would like to have a situation where services can also flow in a similar way ".

The company is exploring new distribution system where the life insurance products will be distributed in a similar way as any other products and goods are distributed in the market.