MUMBAI: Tata AIA Life Insurance Wednesday announced the signing of Olympic Gold medallist Neeraj Chopra on to a multi-year deal as its brand ambassador.
The association also marks the very first brand partnership to be signed by the champion javelin thrower post his historic Olympic win.
While financial terms were not disclosed, JSW Sports, which represents Neeraj, has declared that the endorsement fees of the the Indian javelin star has now increased by at least 10 times. “The increase in brand value of Neeraj Chopra is due to his non-cricketing achievements. Apart from this he is also lined up to sign five-six deals with luxury auto and apparel brand in the next few weeks,” a JSW official was quoted as saying by Dainik Bhaskar.
Aside from Tata AIA Life Insurance, Neeraj has reportedly already signed deals with Byju’s, Gillette, Exon Mobile, Muscle Blaze, as well as a top pharmaceutical, the announcements around which a calibrated roll-out can be expected over the coming days and weeks.
As for the price he now commands, Neeraj’s brand endorsement fees for a year is reported to be in the Rs 25 million per year range.
As per an official release, Neeraj closely embodies Tata AIA’s vision of enabling dreams and inspiring healthier and happier lives and its core value of passion for excellence. He has consistently set high benchmarks and pioneered change through his dedication to his sport. Over the next few years, Neeraj will support Tata AIA’s efforts in offering best in class life protection and health & wellness solutions to its consumers across the country.
Neeraj’s association with Tata AIA stems from his own experience and understanding of the need for adequate life and health cover and timely planning for one’s key life milestones. It is his firm belief that life insurance helps individuals plan for their protection related needs as well as cater to their health, wellness and wealth creation needs. This forms the basis of his choosing to partner with Tata AIA.
Venky Iyer, executive vice-president and chief distribution officer, Tata AIA Life Insurance, said, “As a VSM awardee in the Army and a National Icon today, Neeraj symbolises incredible passion for excellence and a great commitment to serving the nation. For us at Tata AIA, his sports journey echoes greatly with our vision of enabling dreams and inspiring healthier and happier lives. And quite like we observe in Neeraj’s journey, Passion for Excellence, and an Obsession to do the best for our consumers, the people of India, are among the core values at Tata AIA. We are delighted to partner with Neeraj and welcome him warmly into the Tata AIA family.”
Neeraj commented, “Joining the Tata AIA family was a logical step for me. I firmly believe that there is a need to educate Indians, especially the youth, about the need for life insurance and to help them plan for their financial goals, at the right time. Further, the pandemic has made us realize the key need to pursue physical and emotional wellbeing in our day to day life. Tata AIA’s protection and health & wellness solutions offer distinct and significant benefits to consumers. I am happy be a part of the brand’s vision and look forward exciting times ahead.”
