Real MAP from proper MNCs usually every offer to applicant is around 100-150 pax, i.e. chances of getting is <1%. Aviva's program I don't have the details, but just based on people I know seems to be at least 50% or more. This is a big red flag.

In terms of stringency and value, I would rank this program much lower than even unstructured fresh grad hires from bigger local companies. At least the pay & benefits are better and there is no penalty for quitting. If this sort of garbage can be backup option, chances are you don't have much choice in the job market in the first place.