To reinforce its value of ‘Consumer Obsession’, 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. Insurance industry introduces digital premium payments, enabling quick confirmation and acknowledgement, offering a seamless, agile experience for both tech and non-tech-savvy consumers.
India’s WhatsApp and UPI have become household messaging and payment facilities, with 500 million WhatsApp users and 300 million UPI users. Tata AIA uses these platforms for premium payments, providing convenience and ease of transaction, demonstrating widespread adoption. Tata AIA uses Analytics-driven, Decile-based approach to enhance renewal premium collections, offering multiple digital modes and language capabilities in English, Hindi, Tamil, Gujarati, and Bengali.
The company automates communication via WhatsApp and SMS using Adobe’s campaign management system, allowing for tailored channel adjustments. Sanjay Arora, Executive Vice President & Head of Operations of Tata AIA, said, ” 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.”
