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Company Name : Max Life Insurance Co. Ltd.

Wednesday, November 8, 2017 4:15PM IST (10:45AM GMT)

(NSE:MAX)

Max Life Insurance Wins the Top Position at 11th National Six Sigma Project Competition Organised by CII


"Service to Recruitment" initiative helped recruiting 5,210 agents, which is 21% of the total agents recruited in agency channel for FY17


New Delhi, Delhi, India

Max Life Insurance, one of India’s leading Life Insurance companies, won the 1st position in service, IT, and ITES category at the prestigious 11th National Six Sigma Project Competition organized by CII (Confederation of Indian Industry) for its ‘Service to Recruitment’ (S2R) initiative. Under this initiative Max Life Insurance interacted with customers walking into the branches and analyzed their interest and understanding about the life insurance business. Basis the analysis the customers were offered an opportunity to work with Max Life Insurance as its agent advisors.
 
In the award application, Max Life highlighted that significant positive result on pertinent business parameters were achieved by using the S2R recruitment model. The initiative strengthened Max Life’s agent base, thus helping the organization to reach more customers across different regions. What makes the recognition even important is the list of industry stalwarts whom Max Life competed with, such as HDFC Bank (1st runner up) and Tata Consultancy Services (2nd runner up).
 
Speaking about the achievement Mr. V. Viswanand, COO & Senior Director, Max Life Insurance said, “It is indeed a proud moment for us at Max Life Insurance. Max Life has been a pioneer in Life Insurance in India to develop this unique agent recruitment channel. It was noticed that the agents recruited through S2R agents achieved higher productivity than the agents recruited through other routes. In addition, these agents recorded a lower grievance rate and achieved 8% higher 13th month persistency in comparison to other agents.”
 
He further added, “For us, the most satisfactory moment in the project has been to see our existing customers getting benefited by taking up the agency career opportunities available with at Max life, and even referring their friends and family for the same.”

About Max Life Insurance Co. Ltd. (www.maxlifeinsurance.com)
 
Max Life Insurance, the leading non-bank promoted 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 life insurance solutions for long term savings, protection and retirement through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 17 years, Max Life Insurance offers superior investment expertise. Max Life Insurance has the vision 'To be the most admired life insurance company by securing the financial future of our customers'. The company has a strong customer-centric approach focused on advice-based sales and quality service delivered through its superior human capital.
 
During the Financial Year 2016-17, Max Life Insurance achieved gross written premium of Rs.10,780 crore and had sum assured in force of Rs.3,77,572 crore. As on 31st March 2017, the company had Rs.44,370 crore of Assets Under Management. As on 31st March 2017, the Company had 39,13,000 policies in-force which were procured and now services through its 9,446 employees, 54,283 agent advisors at its 210 own offices across the country.


Click here for Media Contact Details

Ravi Kumar, Max Life Insurance Co. Ltd., +91-9810836506

Varun Chopra, Ketchum Sampark, +91-9811241427, varun.chopra@ketchumsampark.com

Jayashree Maji, Ketchum Sampark, +91-9818760566, jayashree.maji@ketchumsampark.com

Arushi Sharma, Ketchum Sampark, +91-9711920546, arushi.sharma@ketchumsampark.com


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News Summary

Max Life Insurance, one of India’s leading Life Insurance companies, won the 1st position in service, IT, and ITES category at the prestigious 11th National Six Sigma Project Competition organized by CII (Confederation of Indian Industry) for its 'Service to Recruitment' (S2R) initiative. Under this initiative Max Life Insurance interacted with customers walking into the branches and analyzed their interest and understanding about the life insurance business.