Max New York Life Insurance Company Ltd. is a joint venture between New York Life;
a Fortune 100 company and Max India Limited; one of India's leading multi-business
corporations. The company has positioned itself on the quality platform. In line
with its vision to be the Most Admired Life Insurance Company in India,
it has developed
a strong corporate governance model based on the core values of excellence, honesty,
knowledge, caring, integrity and teamwork. The strategy is to establish itself
as a Trusted Life Insurance Specialist through a quality approach to business.
Incorporated in 2000, Max New York Life started commercial operation in 2001. In
line with its values of financial responsibility, Max New York Life has adopted
prudent financial practices to ensure safety of policyholder's funds. The Company's
paid up is Rs. 1,232 crore.
Having set a Best in Class Agency Distribution Model in place, the company is spearheading
a major thrust into additional distribution channels to further grow its business.
The company has multi-channel distribution that includes the agency distribution,
partnership distribution, bancassurance, distribution focused on emerging markets
and alliance marketing through employed sales force. The company currently has 33
bancassurance relationships, 14 corporate agency tie-ups and direct sales force
at 14 locations. Max New York Life has put in place a unique hub and spoke model
of distribution to deepen rural penetration. The company has 39 (9 hub office 30
spoke offices) offices dedicated to emerging markets in Punjab and Haryana. Max
New York Life offers a suite of flexible products. It now has 38 products covering
both life and health insurance and 8 riders that can be customized to over 800 combinations
enabling customers to choose the policy that best fits their need. Besides this,
the company offers 6 products and 4 riders in group insurance business.
The company currently has more than 10,424 employees.
View our corporate website to know more about Max New York Life Insurance Company Ltd.