Private sector life insurance company Max Life Insurance is planning to introduce four new products by the first week of next year.
"We will have to re-launch 20 products as part of the regulatory compliance. We got IRDA's approval for 17 products of which 13 have already been launched. We are planning to launch four more products by January 1," Max Life Insurance Director and Head - product solutions management, V Viswanand told reporters here.
The private life insurer, which started operations in April, 2001, said out of the total 20 products lined up to be re-launched, only four plans were group products.
During the first ten months of the current fiscal, Max Life was able to outperform the industry growth of 6.4 per cent year-on-year in new business, Viswanand said.
"For our company, the new premium growth during April-November this year was about 15 per cent as compared to the same period last year," he said.
"We demonstrated that in a year of change, we have been able to outperform the market significantly. So, we want to continue with that performance," he added.
