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Aviva Life Insurance and CII partnership – First of its kind tie-up
Aviva’s tie up with CII will help reach out to over 1.5mn SMEs across the country where the SME business would account for 15% of Aviva’s business within the next 3-5 years
In what is being called a first of its kind tie-up, the Confederation of Indian Industries (CII) has partnered with Aviva Life Insurance to service its vast membership of SMEs. Aviva will now, through this partnership, be able to reach out to over 1.5 million SME members. The MoU is focused on Business Protection for SMEs with expected Revenues of Rs 500 Crores.
Mr. Milan K. Nag, Co-Chairman, CII and Mr. Trevor Bull, MD & CEO, Aviva India
Speaking on the occasion, Mr. Trevor Bull MD & CEO of Aviva India said, “The SME industry is poised for a disruptive growth aided by key Gov. of India initiatives like Make in India, Skill India, Startup India & the Mudra campaign. Aviva with this partnership will enable the SMEs to safeguard their businesses in the case of any eventuality. The propositions are designed keeping in mind the multiple responsibilities as a family man, as an employer towards their employees & business owner and/or partner”.
“In-depth consumer research conducted by us has led us to understand the specific financial needs of the SME. Our research workshops with a wide variety of SME businesses and in the field pilots four partners have identified that the key characteristic which defines the needs of the SME is the fact that he wears the multiple hats of Key Man, Chief Wage Earner as well as that of an Employer. His main interests, therefore, are vested in Business Continuation, concern for his own Health, Wealth Creation for family and Financial Protection in case of an unforeseen event”, added Trevor Bull.
