Mumbai, 2 September 2022: Tata AIA Life Insurance Co. Ltd. (Tata AIA), one of India’s fastest growing life insurance companies, has announced that 1,496 of its Life Insurance Agents have qualified for the Million Dollar Round Table (MDRT) as of 1 July 2022, making the Company the leading MDRT Company in the in Life Insurance sector in India. With a global ranking of #9, the company has also entered the elite list of the World’s Top 10 MDRT companies. *
Of the 1,496 MDRT Agents who qualified for this coveted group, 689 were women, making up 46% of the overall MDRT Agent count. Tata AIA Life ranks #15 worldwide** for the induction of top qualifying women advisors as of 1st July 2022. For the same period, no other Indian company registered more female MDRT qualifiers than Tata AIA Life.
MDRT is a global, independent association of the world’s largest life insurance and financial services professionals from more than 500 companies in 70 countries and territories. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct, and outstanding client service. MDRT membership is recognised internationally as the standard of excellence in the life insurance and financial services industry. MDRT membership provides access to a full spectrum of forums that help members increase their productivity and professionalism.
MDRT Qualifiers are known to put consumer interests before financial gains and are accorded the highest trust. MDRTs, being top performers in their industry, are expected to be highly ethical, upholding not only their agency’s code of ethics but also that of the organisation they represent.
Naveen Tahilyani, Managing Director & Chief Executive Officer, Tata AIA Life Insurance, said, “We are delighted with the fact that our champion Advisors and Team Agency have led Tata AIA to be ranked No. 1 in India in terms of most MDRT agents in life Insurance companies in India. India’s life insurance industry holds tremendous potential, and a professional Agency force of knowledgeable and accomplished advisors can act as a catalyst to enabling the penetration and growth life insurance industry in India and scale new highs. We are committed to empowering our Advisors and fast-track their path to MDRT membership, providing them a rewarding and fulfilling career opportunity.”
Amit Dave, Chief Agency Officer, Tata AIA Life Insurance, added, “Our mantra is doing the Right thing in the Right way with the Right People. We prepare our Advisors with the Right knowledge, Right attitude, and Right skills to engage consumers in a transparent and informative way. The achievement underlines the positive transformation of our Agency force and reinforces our belief that our advisors are among the finest in the world. By creating, enhancing the core of our Agency model, we at Tata AIA aim to set new standards in India for consumer centric insurance sales and distribution.”
AIA Group, the joint venture partner in Tata AIA Life, also set a record during the year to become the company with the highest number of MDRT members for an unprecedented eight consecutive years. As of 1 July 2022, 15,745 AIA Agents and Agency Leaders were registered as MDRT members. Since the Company’s IPO in 2010, the number of MDRT members has increased by an impressive 768%.
Life insurance in India, with its population of nearly 140 crores, is still in its infancy. It is therefore imperative to purchase adequate life insurance coverage now to protect the future years. Tata AIA established the Premier Agency model several years ago to build a formidable distribution force of highly productive advisors to bridge the ‘right’ advice gap in India and facilitate long-term saving habits in Indians. By offering its agents a consistent income and growth opportunity, the company has run a successful Agency Business Model. Our Premier Agents can engage with customers in a transparent and informative manner using a set of integrated tools developed using the technology platform.