Max New York too expands

Life insurance company Max New York Life (MNYL) entered into an alliance with Anantapur District Cooperative Central Bank (ADCCB) in Andhra Pradesh on Friday to utilise the branch network of the bank for selling its insurance products.

Through the alliance, MNYL will offer its life insurance solutions to more than three lakh customers of ADCCB.

The bank, which has 19 branches and 98 primary agricultural cooperatives, has a paid-up capital of Rs 34 crore, a deposit based of Rs 74 crore and advances and loans of Rs 621 crore.

MNYL stated in a release that it would tailor its products according to the needs and affordability of the bank customers.

Important factors like education of children, daughter's marriage and flexible premium payment options would be taken into account while planning the products.

All processes and procedures would also be simplified to improve customer experience.