The joint venture between Tata Sons and the American International Group — Tata AIG General Insurance — is all set to launch a swing of motor insurance products in the next few months and has filed 10-12 products for approval from Insurance Regulatory Development Authority of India (IRDA).
The company is hoping to introduce the products in the market by April 1 and is also eyeing a growth of up to 15% by March 2009. Motor insurance contributes nearly 35% to the overall revenue of the company. About 20-25% comes from accidental and health insurance and the balance is contributed by property and casualty.
So far, the company has collected a premium of around Rs 600 crore.