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 compes 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 compes 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 mengfully 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
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 .
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( With inputs from ANI )
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