BusinessWire India
Mumbai (Maharashtra) [India], July 20: Tata AIA Life Insurance (Tata AIA), one of India's leading life insurance companies, is pleased to announce that the company has secured #6 position in the Global Million Dollar Round Table (MDRT) rankings for 2024*. The Company achieved the largest number of MDRT-qualified Life Insurance Advisors in India with 2584 registered MDRTs. With 1238 qualified Women MDRT Advisors, the Company ranked #1 in India and #7 globally ** among companies with Female MDRT Members.
MDRT, the premier association of Financial Professionals®, is a global, independent association of the world's leading life insurance and financial services professionals from over 700 companies in 80 nations and territories. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business.
The company witnessed a 30.64% increase in MDRT-qualified Advisors registered in comparison to the previous year. For the same period, female MDRT qualifiers saw a 32.26% increase.
Amit Dave, Chief Distribution Officer - Proprietary Business, Tata AIA said, "It gives us great pride to have achieved the largest number of MDRT members in India for the second consecutive year and rank # 6 MDRT Company in the world. This validates our continuous commitment to our consumers, by ensuring they receive best-in-class advice to secure their future and fulfil their aspirations towards their loved ones. Our MRDT certified agents and Direct sales employees enable our consumers to be Har Waqt Ke Liye Taiyaar and live a fikar-free life."
Life Insurance solutions are long term products and hence receiving the right advice from a long-term perspective is very important for consumers. A higher number of MDRT advisors clearly puts a life insurer at an advantage since the right advice during product sales ensures happy and loyal consumers who keep renewing their policies year on year. No wonder, Tata AIA has benefited by having a large count of MDRT agents and employees as it strengthens its leadership position on persistency, by being ranked No. 1 in 4 of the 5 persistency cohorts.
Persistency ratio measures the percentage of consumers who choose to renew their policy with a life insurer, thereby reposing their trust in the brand.
*https://www.mdrt.org/about-MDRT/for-companies/top-100-companies-global/
**https://www.mdrt.org/pt-ao/about-MDRT/for-companies/top-25-companies-by-female-members/
Note: The Ranking is the basis of the registered count of the Insurance Agents.
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