Max New York to have hub and spoke in Kerala

Max New York Life Insurance will adopt the hub and spoke model to strengthen its presence in Kerala.

"All major cities would have general offices, which would act as hubs and would be linked to spoke-level offices in the smaller towns," said Rajinder Sud, senior vice-president, (west and south) of Max New York Life.

The Thiruvananthapuram office is spread across 6,500 sft and the company plans to set up offices of similar size in bigger cities and towns. The semi-urban towns will have smaller offices and would be connected to the hub offices, he said.

The company would invest around Rs 250 crore in Kerala operations this year, Sud said. It invested Rs 5 crore in the Thiruvananthapuram office.

With Kerala centres now becoming full-fledged, Max New York Life is also planning to rope in more companies for its group insurance schemes. It already offers its schemes to the employees of Airports Authority of India, Hindustan Latex Ltd, and Kerala Minerals and Metals Ltd among others.

"We are also taking our presentations on our various products to the technology companies at Technopark," Sud added.

At the national level, the company plans a capital deployment of Rs 2,600 crore by 2011. It would add around 100 offices across the country every year for the next four years.