Tata AIA introduces Industry-First Premium payment through WhatsApp and UPI
Partners with WhatsApp, PayU to enhance consumer convenience through Unified Payment Interfaces (UPIs)
City Air News
Jun 28, 2023 01:38
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Mumbai, June 28, 2023: 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.
The newly added payment option is first-of-its-kind in the insurance industry. The agile, seamless process allows consumers to pay premiums digitally and receive a quick premium payment confirmation & acknowledgement. In addition to being easy to use for both tech and non-tech-savvy consumers, it also offers a hassle-free premium payment experience.
WhatsApp and UPI have become household messaging and payment facilities, respectively, in India. The country has close to 500 million WhatsApp users today and more than 300 million UPI users. This clearly indicates the penetration of these new-age platforms. By introducing premium payment through these platforms, Tata AIA is ensuring that it provides its consumers with the ease and convenience of doing a transaction through their preferred modes.
Commenting on this occasion, Sanjay Arora, Executive Vice President & Head of Operations of Tata AIA, said, "At Tata AIA, we are committed to providing our policyholders with convenient, hassle-free premium payment options using modes that are preferred by them. 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.”
