Max Life and YES BANK complete 17 Years of strategic bancassurance partnership; reaffirm commitment towards next-gen customer experience
Mar 11, 2022
New Delhi [India], March 11 (ANI/NewsVoir): Max Life Insurance Co. Ltd. and YES BANK Limited ("YES BANK"), on the completion of seventeen years of strategic bancassurance partnership, have reaffirmed a renewed commitment towards building next-generation customer experiences.
Offering seamless integration of new-age technologies in the business ecosystem, the partners have realigned their focus on a robust digital-first delivery that aims to bring greater agility into the customers' financial protection journey.
Key Business Statistics*
Date of Partnership Commencement - 23rd February 2005
No. of Lives Protected - 3,42,358
New Business Premium (Till Date) - Rs. 3207 Crs.
Claims Paid - Rs. 1,83 Crs.
* (As on 31 Dec' 2021)
In these seventeen years, the companies via a strong Pan-India presence across 1100 branches have sold approximately 4.2 lakh policies and offered a Sum Assured of Rs. 55,498 crore to policyholders and their families. The Max Life - YES BANK partnership offers new-age solutions like 'My Connect' and 'Video Marketing' for all life stages including, child, protection, retirement, and savings.
Prashant Tripathy, MD and CEO, Max Life, said, "I would like to thank YES BANK for helping strengthen one of the industry's most successful relationships. Over the years, this enduring partnership has enabled us to protect the financial goals of more than three lakh customers and their families. We are confident that this association will provide an enhanced customer experience with best-in-class life insurance solutions. By leveraging technology, we will ensure seamless integration of digital across every customer touchpoint that will help accentuate business efficiencies."
Rajan Pental, Global Head - Retail Banking, YES BANK, said, "Our long-standing partnership with Max Life Insurance has helped consistently deliver new and meaningful offerings that elevate the customer experience with streamlined processes, innovative enablers, and latest technology. Acknowledging this milestone in our journey, we will continue exploring opportunities towards creating holistic solutions that broaden the net of financial protection for our customers and in turn further strengthen our partnership in the years to come."
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi-business corporation.
Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life has built its operations over almost two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.
As per public disclosures and annual audited financials for FY20-21, Max Life has achieved a gross written premium of INR 19,018 crore. As of 31st March 2021, the Company had INR 90,407 crore of assets under management (AUM) and a Sum Assured in Force of INR 1,087,987 crore.
For more information, please visit the company's website at www.maxlifeinsurance.com.
YES BANK is a 'Full Service Commercial 'Bank' providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a Pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank's website at www.yesbank.in.
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