Max Life Insurance Company Limited (formerly known as Max New York Life Insurance Company Limited) is a life insurance company in India with a joint venture (JV) between Max India Ltd and Axis Bank The company is a subsidiary of the publicly listed Max Financial Services and is the largest non-bank private-sector life insurer in India. It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001. Analjit Singh, founder of Max Healthcare, is the chairman of Max Life Insurance. The company is headquartered at New Delhi.
1 company overview
1.1 Products and services
1.2 Advertising campaigns
3 external links
Max Life Insurance is a part of the Max India Ltd. Group and is India’s largest non-bank private-sector insurer, which focuses on creating both online and offline channels where customers could buy policies without any intermediaries in a safe and secured manner. It is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company. The former owns 68% of the company while the latter owns 26%. After forming the joint venture partnership with Mitsui Sumitomo, Max Life changed its name from Max New York Life in 2012. In February 2016, Axis Bank held a 6% share in Max Life.
Products and services
Max Life’s distribution channels include banks, individual agents, brokers, and corporate agents, among others. It provides linked, participating and non-participating products. Apart from life coverage, it also covers health, pension, and annuity. It offers child, protection, retirement, savings, and growth plans to individuals and to groups.
Max Life Insurance has carried out several advertising campaigns. A few prominent are:
Second Chance – Launched in January 2015. The campaign had two videos where people spoke about how life gave them a second chance. The campaign was created to spread awareness about the importance of protection through life insurance.
Sachchi Advice – Launched in August 2015 through the TVC medium, the campaign aimed to highlight the company’s focus on providing transparent advice to all of its customers.