Mumbai, July 14 (KNN) The Insurance Regulatory and Development Authority of India (IRDAI) has selected Tata AIG General Insurance as the lead non-life insurer for the State of Maharashtra.

As lead insurer the company will collaborate with all non-life and health insurance companies in the state to increase insurance penetration.

The regulator developed the concept of a lead insurer to increase insurance penetration in the states in line with its vision of "Insurance for all by 2047.

Besides non-life and health insurance companies, Tata AIG will collaborate with IRDAI, and the state government of Maharashtra to create awareness, enhance insurance reach, and improve accessibility at the Gram Panchayat, district, and state levels.

The company will also promote the adoption of flagship government schemes such as Pradhan Mantri Jan Arogya Yojana (PMJAY) in Maharashtra.

“This is a step towards collaboration in creating a society which is insured and aware of the list of coverage offered by their insurance policy. It will enable the populace of Maharashtra to be insurance literate. We will leverage our expertise, technology, and partnerships to develop innovative insurance products and services that cater to the evolving needs of the people of Maharashtra,” said Neelesh Garg, MD & CEO of Tata AIG.

The IRDAI has identified key segments such as motor insurance, health insurance, crop insurance, support of MSMEs, and employment-related.  (KNN Bureau)