SPONSORED CONTENT

Max Life Insurance and YES BANK celebrate 16 years of strategic Bancassurance partnership

March 08, 2021 23:30 IST | ANI Press Release
Tennis player James Blake
Max Life Insurance

New Delhi [India], March 8 (ANI/NewsVoir): Max Life Insurance Co. Ltd and YES BANK Limited today marked an important business milestone upon completing 16 years of their strategic bancassurance partnership.

Celebrating the milestone, the two companies have reiterated their commitment towards building a digitally enabled ecosystem that provides customers with a seamless experience in their financial planning and protection journey.

Over the last sixteen years, the companies together have sold approximately 3.89 lakh policies, and offered sum assured worth Rs 51,780 crores to policyholders and their families.

Commenting on the milestone, Prashant Tripathy, Managing Director and CEO, Max Life, said, "The industry has been through an unprecedented period over the last one year, and it is on the back of long-standing and successful partnerships like YES BANK-Max Life that we have grown and served our customers without disruption.

We highly value the partnership with the bank for their unwavering integrity, financial strength, and distribution prowess, and look forward to jointly setting new benchmarks in the coming years".

He added, "I would like to thank YES BANK and our customers for helping us build one of the longest-standing and successful relationships in the industry. Over the next few years, our aim is to strengthen our approach to offer superior customer experience by deploying new-age technology, offering new products, and enhancing service efficiencies."

Rajan Pental, Global Head - Retail Banking, YES BANK, said, "Our long-standing partnership with Max Life Insurance has not only helped us deliver new and relevant offerings, but also enhance the overall customer experience. We are pleased to celebrate this milestone and reinforce our commitment to offering holistic financial solutions to our customers. We look forward to strengthening our partnership meaningfully in the years to come."

Max Life Insurance Co. Ltd. ("Max Life") is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a part of the Max group, an Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS & AD Insurance group.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third 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, during the financial year 2019-20, Max Life achieved a gross written premium of Rs 16,184 crore. As of March 31, 2020, the Company had Rs 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs 913,660 crore.

For more information, please visit the company's website at (https://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 and its Mutual Fund business through YES Asset Management (India) Limited, both wholly-owned subsidiaries of the Bank.

Headquartered in Mumbai, it has a Pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank's website at (https://www.yesbank.in)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

 

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Max Life Insurance and YES BANK celebrate 16 years of strategic Bancassurance partnership

New Delhi [India], March 8 (ANI/NewsVoir): Max Life Insurance Co. Ltd and YES BANK Limited today marked an important business milestone upon completing 16 years of their strategic bancassurance partnership.

Celebrating the milestone, the two companies have reiterated their commitment towards building a digitally enabled ecosystem that provides customers with a seamless experience in their financial planning and protection journey.

Over the last sixteen years, the companies together have sold approximately 3.89 lakh policies, and offered sum assured worth Rs 51,780 crores to policyholders and their families.

Commenting on the milestone, Prashant Tripathy, Managing Director and CEO, Max Life, said, "The industry has been through an unprecedented period over the last one year, and it is on the back of long-standing and successful partnerships like YES BANK-Max Life that we have grown and served our customers without disruption.

We highly value the partnership with the bank for their unwavering integrity, financial strength, and distribution prowess, and look forward to jointly setting new benchmarks in the coming years".

He added, "I would like to thank YES BANK and our customers for helping us build one of the longest-standing and successful relationships in the industry. Over the next few years, our aim is to strengthen our approach to offer superior customer experience by deploying new-age technology, offering new products, and enhancing service efficiencies."

Rajan Pental, Global Head - Retail Banking, YES BANK, said, "Our long-standing partnership with Max Life Insurance has not only helped us deliver new and relevant offerings, but also enhance the overall customer experience. We are pleased to celebrate this milestone and reinforce our commitment to offering holistic financial solutions to our customers. We look forward to strengthening our partnership meaningfully in the years to come."

Max Life Insurance Co. Ltd. ("Max Life") is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a part of the Max group, an Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS & AD Insurance group.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third 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, during the financial year 2019-20, Max Life achieved a gross written premium of Rs 16,184 crore. As of March 31, 2020, the Company had Rs 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs 913,660 crore.

For more information, please visit the company's website at (https://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 and its Mutual Fund business through YES Asset Management (India) Limited, both wholly-owned subsidiaries of the Bank.

Headquartered in Mumbai, it has a Pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank's website at (https://www.yesbank.in)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22