Tata AIG Life Insurance Company (Tata AIG Life) and South Indian Bank have entered into an alliance to provide premium renewal collection services to Tata AIG Life customers throughout the country.
The facility will be available across all the 520 CBS (Core Banking Solutions) branches of South Indian Bank in the country. Under the arrangement, customers of Tata AIG Life will easily make renewal premium payments by cheque or cash upto Rs 49,999/- at the branches of South Indian Bank.
Tata AIG Life Insurance Company is joint venture between the Steel and Auto major Tata Group and American International Group Inc. Company officials of insurance firm believe that this alliance would provide the policyholders of TATA-AIG Life the convenience of paying their renewal premiums by cheque or cash at the nearest branch of South Indian Bank.
The latest move is being considered by market experts as a convenience for the rural customers at par with those in urban centers.