Our Business

MAX FINANCIAL SERVICES




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Our Business


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Max Life Insurance, one of the leading private life insurer, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is part of the Max Group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the leading insurers in the world. Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. Through its range of 18 products and 5 riders (individual), the Company offers solution as per customer needs across life stage.

Setting benchmarks is a way of life at Max Life Insurance. In FY 2017, Max Life Insurance was the fourth largest private life insurer in India with a market share of 9.2% among private insurers with over 39 lakh customers. The company recorded total revenue of Rs.12,937 crore and shareholders’ profit before tax of Rs. 660 crore for FY 2017. Max Life’s share capital (including Reserves and Surplus) of Rs. 2,506 crore with a solvency margin of 309% is indicative of its financial strength and stability.

VISION

Max Life Insurance has the vision 'To be the most admired life insurance company by securing the financial future of our customers'.

MISSION

  • We are an honest life insurance company, committed to doing what is right
  • We serve our customers through Long Term Savings, Protection and Retirement Solutions, delivered by our high quality Agency & Multi Channel Distribution Partners
  • We serve our customers through Long Term Savings, Protection and Retirement Solutions, delivered by our high quality Agency & Multi Channel Distribution Partners
  • We are a business with strong social relevance and contribute to Society by supporting causes in health and well-being

KEY DIFFERENTIATORS

  1. Multi-channel distribution architecture that includes Agency distribution, Bancassurance with leading banks including Axis Bank and YES Bank, Partnership Distribution, E-commerce, Customer Advisory Team and Group business
    • One of the most productive agency distribution
    • Fastest growing non-captive bancassurance relationships
    • Second largest e-commerce player in Indian Life Insurance industry
  2. Customized product solutions for every life stage needs and to promote long-term savings and protection
  3. Superior performance on customer parameters -
    • Claims paid ratio at 97.81% (FY17)
    • Conservation ratio – 88.6% (FY17)
  4. Superior investment performance across funds – Assets Under Management – Rs 44,370 Cr
  5. Creating business excellence using Digital and Information Technology interventions
  6. Robust risk management framework to address enterprise wide risks
  7. Strong corporate governance framework and transparency in reporting of business and financial outcome