Tata AIG General Insurance launches 'My Business My Choice' suite of Products through its SBS Division

Tata AIG General Insurance Company Limited (Tata AIG General) today announced the launch of a new vertical - The Small Business Solutions (SBS) Division which will offer a range of comprehensive insurance solutions to specifically cater to the insurance requirements of small businesses. The Small Business Solutions Division will concentrate on providing tailor-made solutions to the following Small and Medium Enterprises (SME’s), empowering these entrepreneurs to perform better without having to worry about their insurance needs like Housing Societies, Offices & Commercial Buildings, Hotels & Restaurants and Manufacturing Units,etc. The Small Business Solutions division will offer pre-underwritten products to provide coverage against a large number of fortuitous mishaps like Fire and allied perils, Crime, Public Liability claims , Workmen Compensation claims, Personal Accident and losses in transit (Marine coverage) through a Multiline Package Policy. Most policies being sold currently for housing societies provide coverage for only fire and allied perils, which is a mandatory requirement in some states. The products offered by Tata AIG General’s SBS not only go beyond satisfying the mandatory requirements, but also entitle the policyholder to avail of special rates on various ancillary services like pest control, security, fire detecting and extinguishing appliances and gardening. These products have been launched after extensive market research and identification of the most common associated risks and allow the insured to opt for standard as well as optional covers through a single multiline policy. Tata AIG General has also developed a range of "Smart" product packages and services designed to suit the needs and budgets of all small and medium sized enterprises. Mr. Dalip Verma, Managing Director, Tata AIG General said, “Small businesses contribute to about 70% of the Country’s GDP and have risk levels that are as high as companies in other segments. Hence they need to be given the same kind of protection. We believe these products have tremendous potential as it will provide insurance solutions against many unexpected mishaps to a large segment that contributes to our growing economy. We are committed to educating small businesses regarding the measures they can take in selecting insurance plans and premiums.” The Small Business Solutions Division will market their policies under the ‘My Business, My Choice’ campaign and adopt a comprehensive distribution model to ensure that the benefits of these policies reach out to different small and medium business enterprises across the country in various sectors.