Tata AIA Life Insurance has introduced digital payments through WhatsApp and Unified Payment Interfaces, focusing on ‘Consumer Obsession’. This industry-first feature offers instant premium payment through WhatsApp and UPI-enabled options, providing a seamless, agile process for digital premium payments. This hassle-free premium payment experience is accessible to both tech and non-tech-savvy consumers, enhancing the insurance industry’s value of consumer obsession.
India’s WhatsApp and UPI have become household messaging and payment facilities, with close to 500 million WhatsApp users and over 300 million UPI users. Tata AIA introduces premium payment through these platforms to provide convenience and ease of transaction. The company uses an Analytics-driven, Decile-based approach to improve renewal premium collections, enabling collections via multiple digital modes and enhancing language capabilities to five languages.
The company’s communication drive via WhatsApp and SMS services is automated using Adobe’s campaign management system, allowing for better behavior study and channel modification. Sanjay Arora, Executive Vice President and Head of Operations at Tata AIA, highlighted 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.”
