July 10, 2019
Max Life Insurance Company Ltd. (“Max Life”/”Company”), one of India’s leading life insurance companies, is the only life insurance company to be recognised amongst India’s “Top 100 Great Places to Work For” by Great Place to Work Institute (“GPTW”) in its 2019 study. With over 400 companies participating this year, with 69 from BFSI Sector, Max Life is the only life insurance company rated amongst India’s top 100 companies to work for. The company has also been recognized as one of the top 20 ‘Best Workplaces in BFSI (Banking, Financial Services and Insurance Sector)’. This recognition is the true reflection of the Company’s commitment to building a workplace based on key differentiators of superior human capital and value-driven culture.
The overall rank of Max Life has improved 8 points from 43rd in 2018 to the 35th position this year (2019). The accomplishment is a testimony to Max Life’s values-driven culture and strong practices around employee engagement and talent development that have formed the bedrock of sustained business success.
Commenting on the occasion, Shailesh Singh, Director & Chief People Officer, Max Life said, “We are indeed delighted at having been recognised by ‘Great Places to Work’, third time in a row amongst the top 50 great workplaces. The same serves to validate our continued efforts at Max Life Insurance to build an ecosystem that weighs meritocracy over hierarchy, adds value to the professional aspirations of the larger workforce and steers the people agenda right at the centre of it all. Going forward, we only wish to nurture our work environment that is diverse, transparent and ensures equal opportunity for growth of all employees helping us scale greater measures of success.”
The GPTW recognition holds a lot of credibility with its holistic and credible dual-lens methodology. Great Place to Work Institute has been accessing workplace cultures across hundreds of organizations in India for more than a decade. The first lens looks at workplaces from the employees’ perspective and assigns a two-third weight to the voice of employees. The remaining one-third is assigned based on the strength of people practices implemented across the organization.
In the 2019 assessment, Max Life’s people practices on employee care, hiring, listening and inspiring culture stood out. At Max Life, employees are encouraged to be proud of what they do, share their ideas, collaborate with others and realise their full potential and also help other people realise theirs. Max Life strives to create an environment where people are cared for, feel respected and their voices heard. Emphasis is laid on bottom-up and purpose backward communication, which acts as internal lever of growth.
Max Life nurtures a culture of meritocracy through setting of aspirational goals and objective assessments done in a transparent and fair manner. A robust performance management system enables high performance culture by providing clarity and alignment on organization and individual employee goals. Above all, the organization believes in collaborating – in the power of one – as every employee partners in the Company's progress by providing their views, thoughts and inputs. The entire organization is aligned to work collectively towards the strategic direction that is set out through consultation and discussions with its employees.
About Max Life Insurance (www.maxlifeinsurance.com)
Max Life Insurance Co. Ltd. (“Max Life”/“Company”), one of the leading life insurers in India, 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, 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 has a vision to be the most admired life insurance company by securing the financial future of its customers.
Max Life offers comprehensive protection and long-term savings, through its high-quality multi-channel distribution including agency and third distribution partners. A financially stable company with a strong track record over 19 years, Max Life offers superior investment expertise. The Company has a strong customer-centric approach focused on need-based sales and quality service delivered through its superior human capital.
During the financial year 2018-19, Max Life achieved ‘Gross Written Premium’ of Rs. 14,575 crore and had sum assured in force of Rs. 7,03,972 Crore. As on 31st March 2019, the Company had Rs. 62,798 crore of AUM and a share capital including reserves and surplus of Rs. 2,767 crore. The Company has nearly 35 lakh customers serviced by its 12,082 employees and 48,522 agent advisors through 239 offices across the country.