Aviva India
Encyclopedia
Aviva Life Insurance
is a joint venture with Dabur
Group. Private insurers were permitted to participate in the Indian life market only from 2000. Aviva began operations in July 2002 as a joint venture with Dabur Group, one of India’s oldest and most respected business houses. As per the India
regulations, Aviva has 26% stake and Dabur 74% stake in the JV partnership.
model based on sustainable growth.
Its products include: fixed term protection plan (Aviva Aviva LifeShield Plus and aviva i-life an online term plan), endowment plans(Aviva Moneyback, Aviva Dhanvriddhi, Aviva Sachin Extra Cover Advantage, Aviva Dhanvarsha, Aviva FreedomLife Advantage, Aviva LifeSaver Advantage), child policy (Aviva Young Scholar Advantage, Aviva Young Scholar Secure), single premium plans(Aviva LifeBond Advantage), health insurance(Aviva Health Plus).
Aviva's fund management operation is one of its key differentiators. The options include eight unit-linked funds.
Aviva has also partnered with more than 70 insurance brokers.
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
is a joint venture with Dabur
Dabur
Dabur derived from Daktar Burman) is India's largest Ayurvedic medicine manufacturer. Dabur's Ayurvedic Specialities Division has over 260 medicines for treating a range of ailments and body conditions-from common cold to chronic paralysis.-Sustainable Development Society:Sustainable Development...
Group. Private insurers were permitted to participate in the Indian life market only from 2000. Aviva began operations in July 2002 as a joint venture with Dabur Group, one of India’s oldest and most respected business houses. As per the India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
regulations, Aviva has 26% stake and Dabur 74% stake in the JV partnership.
Company Vision
To be amongst the leading insurers in India with quality businessBusiness
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
model based on sustainable growth.
Scale
Aviva India employs close to 5000 people, over 20,000 Financial Advisers with 159 branches across the country.Products
Aviva is among the first companies to introduce modern unit-linked and unitised with-profit policies.Its products include: fixed term protection plan (Aviva Aviva LifeShield Plus and aviva i-life an online term plan), endowment plans(Aviva Moneyback, Aviva Dhanvriddhi, Aviva Sachin Extra Cover Advantage, Aviva Dhanvarsha, Aviva FreedomLife Advantage, Aviva LifeSaver Advantage), child policy (Aviva Young Scholar Advantage, Aviva Young Scholar Secure), single premium plans(Aviva LifeBond Advantage), health insurance(Aviva Health Plus).
Aviva's fund management operation is one of its key differentiators. The options include eight unit-linked funds.
Distribution
Aviva has a balanced distribution network of Bancassurance and Direct Sales Force. This includes a direct sales force of more than 20,000 financial planning advisers, in 159 branches across the country and close to 40 bancassurance partnerships with private sector banks, cooperatives and regional rural banks.Aviva has also partnered with more than 70 insurance brokers.
Awards & Recognitions
- Aviva India won a Bronze at the Effies 2010 for the Aviva Great Wall of Education, part of Aviva's Street to School Program. The Effies are among the top award platforms for the advertising community in India and worldwide. Aviva Great Wall of Education was awarded this elite recognition for the marketing effectiveness displayed during this campaign.
- Aviva India has won a Gold at the SPIKES Asia Awards, 2010 for the 'Aviva Great Wall of Education' which is part of the Street to School programme. The SPIKES Awards is one the most prestigious awards for creative advertising across the Asia Pacific region. Aviva Great Wall of Education was awarded this elite recognition for the category- 'Best use of Ambient Media'.
- Aviva India has won the "Corporate Social Responsibility Award" at the prestigious Asia Insurance Industry Awards 2010 for its corporate social responsibility programme – 'Street to School' for demonstrating how corporate social responsibility can be closely and successfully tied with business strategy. Aviva Life Insurance India was selected from a number of high profile companies competing for the honour of receiving the award.
- Aviva India has won two major awards, at the ‘CMO Asia Awards’ held in Singapore– ‘Excellence in Branding and Marketing’ in Banking and Financial services, and Social Marketing. Aviva India was selected for the two prestigious awards from among more than 200 nominations from across Asia.
- Aviva has been felicitated with the "Bronze Award for Excellence in People Management" by Grow Talent Company Limited and Businessworld. This honour was given based on our ranking amonst the top 25 companies as per the Grate Place to Work survery in the last four years.
- Aviva was ranked 4th in the Best Workplaces in India study for the year 2008 by the Great Place to Work Institute. We were the only Insurance company in the top 10 ranking that year.
- Aviva India won the coveted Award for Talent Management during the national round of Asia Pacific HRM Congress
- Aviva India was also felicitated by the HR Excellence Award by Amity Business School