THE COMPANY
Max Life Insurance, a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd, offers comprehensive life insurance and retirement solutions to over 30 lakh customers. It has a strong customer-centric approach focused on advice-based sales and quality service. The company was founded in 2001 and previously known as Max New York Life Insurance, as it was a JV between Max India and the US-based company New York Life. New York Life exited the JV in 2012 by selling its 26% stake to Mitsui Sumitomo Insurance for Rs 2,731 crore. It was then renamed Max Life Insurance Co. Ltd.
THE OFFERINGS
Max Life Insurance currently has products that can be customized to suit every life-stage need of customers. It also has products for the group insurance business. The company has a strong corporate governance model based on the core values of excellence, honesty, knowledge, caring, integrity and teamwork. As a pro-active step towards service excellence, it has launched the Treating Customer Fairly (TCF) policy, which aims to raise standards in the way the company interacts with customers at every touch-point, right from pre-sales engagement to payment of benefits.
THE REACH
Max Life Insurance has a diversified distribution network spread across more than 1,000 cities. The distribution is based on three pillars – agency distribution, bancassurance and partnership distribution. Agency distribution forms the core distribution channel through agent advisors equipped to engage with prospective customers. In bancassurance, the company has a strong relationship with Axis Bank which is the largest non captive bancassurance relationship in India with a network of over 1,400 branches. Partnership distribution, the third pillar of the distribution model, is successful with long standing relationship with large distributors of financial products such as Amsure and Peerless. These three key distribution channels are complemented by group insurance and customer advocacy teams.
THE GOOD WORK
Max Life insurance works closely with Max India Foundation, an independent social service organization of the Max India Group for all its CSR activities. The company has taken up immunization programme as a societal agenda to ensure protection against major ailments for the next generation of the country. The programme covers vaccines like BCG, Hepatitis B vaccine, Polio drops, DPT, D Tap, Measles vaccine, MMR, Typhoid, dT and TT. Along with Max India Foundation and Manav Sewa Sanidhi, Max Life Insurance also organizes artificial limbs and polio caliper camps to provide artificial limbs In each such camp more than 350 beneficiaries are provided artificial limbs.
THE ACCOLADES
Some of the awards and accolades won by Max Life Insurance are as follows:
• Recognized amongst the top 100 companies ‘India’s Best Companies to Work for 2013’ a survey by Great Place To Work® Institute
• CII National Six Sigma recognition 2012, for the Green Belt project Power of Speed - Settlement of Claims within 10 days
• Silver EFFIE Award in 2012, for the ‘Aapke Sachche Advisor’ campaign.
CREATIVE AGENCY: Ogilvy & Mather
MEDIA PLANNING AGENCY: Madison
Rajesh Sud, CEO & Managing Director
Max Life is guided by its vision to become the most admired life insurance company by securing the financial future of our customers. We believe in doing what is right. We are committed towards our customers and we serve them through Long Term Savings, Protection and Retirement Solutions, delivered by our agent advisors and multi-channel distribution partners.
Anisha Motwani, Director and Chief Marketing Officer
Our new campaign takes forward our brand motto of ‘Sacche Advisors’. In the life insurance category, the real relationship with the customer begins after the policy is bought. It is this belief and commitment towards our customers that guides the principles and service policies of Max Life Insurance. Providing them with prompt, reliable, and quality services is our topmost priority.
THE PEOPLE
Rajesh Sud, CEO and Managing Director
Rajit Mehta, Executive Director and COO
Anisha Motwani, Director and Chief Marketing Officer
CORPORATE PROFILE
