Strengthened by a strong push to protection and pension plans, ramping up of distribution network, and a revitalized emphasis on branding, Tata AIA Life Insurance foresees a 30-40 percent growth in its business over the next three years.

According to Naveen Tahilyani, MD and CEO, Tata AIA Life Insurance, the company intends to launch new products beginning this month to tap into the potential growth in the segment, and pension as a category is currently a small part of their whole portfolio. They will also maintain their focus on protection plans, which currently account for almost 25 percent of their product mix. The company's total premium income increased by 34 percent from ₹8,308 crores in FY-20 to ₹11,105 crores in FY21. The total renewal premium income also saw a 37 percent growth from ₹5,066 crore to ₹6,961 crores. Its 13th-month persistency prevailed at 88.28 percent despite the unfavorable impact of the Covid-19 pandemic and its claim settlement ratio stands at about 98.05 percent. The company claims to have registered 35 percent CAGR in the retail protection business over the past two years. Tata AIA Life Insurance is trying to expand its distribution network by opening new branches and entering into partnerships with health tech and fintech companies for boosting sales. As of March 2021, the company had about 215 branches. It has already added 100 branches so far this year and intends to add another 100 branches over the next six months, trying to reach around 415 branches by June 2022. The company has a strong presence in West Bengal, Maharashtra, Gujarat, Punjab, Haryana, and Delhi NCR. It also plans to boost its presence in the southern markets by setting up new branches.

Its distribution through agency network accounts for almost 30 percent of its total sales, the remaining 70 percent of sales come from the non-agency network including bancassurance, broking partners, and new age digital companies.  Tata AIA Life Insurance has also onboarded Olympic gold medallist Neeraj Chopra as its brand ambassador in a multi-year deal with a focus to improve its brand image. They foresee that their move will help promote health and wellness among policyholders and penetrate deeper into the Tier-II and Tier-III markets. The company intends to emphasize the omnichannel network with the digital channel serving more as a feeder to the physical network.