May 7, 2019
Large scale education programmes to be driven across all offices of the Company, all distribution channels and digital platforms
Move aimed at driving awareness around financial protection across India
Max Life Insurance Co. Ltd. (“Max Life ”/” Company”), one of industry’s foremost life insurance companies, today announced that it will dedicate 6th day of every calendar month as ‘Protection Day’ towards driving awareness around the concept of financial protection. The decision come closely along the lines of the Company’s recently launched Max Life India Protection Quotient survey conducted in association with Kantar IMRB which essentially indicated that the degree to which the Indians feel protected from financial uncertainties was abysmally low at 35.
Max Life Insurance marks 6th of every month as Protection Day
As a part of this initiative, a wide range of initiatives will be rolled out across Max Life’s network of over 240 Max Life’s offices and a wider network of its distribution partners. These will include customer education initiatives for all age groups across a wide range of cities. As a part of the initiative the Company will also drive a “Super Customer Week”, where customers across the board will be educated about various aspects of financial protection.
Speaking at the launch of the initiative, Aalok Bhan, Director and Chief Marketing Officer, Max Life stated that, “We are in the business of helping people secure the true value of their lives through financial protection to ensure happiness of their families. Celebration of Protection Day every month is a definitive step towards creating a financially secure society. Generally, number 6 denotes love and harmony, which is also symbolic of secured financial future. This is the reason why we selected the 6th day of the calendar month to be a celebration of protection.”
As per the Max Life India Protection Quotient survey, Indians are underprepared to face financial instability caused by life events. The survey also states that consumers of life insurance feel under-protected because of low uptake, lack of awareness and ownership of term insurance. One of the key finding of the survey was poor awareness levels leading to inadequacy of cover.
About Max Life Insurance (www.maxlifeinsurance.com)
Max Life Insurance, 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 Insurance has a vision to be the most admired life insurance company by securing the financial future of its customers.
Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 18 years, Max Life Insurance 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 2017-18, Max Life Insurance achieved gross written premium of Rs. 12,501 crore and had sum assured in force of Rs. 5,11,541 Crore. As on 31st March 2018, the Company had Rs. 52,237 crore of assets under management (AUM) and a share capital including reserves and surplus of Rs. 2,689 crore. The Company has more than 32 lakh customers serviced by its 10,226 employees and 54,791 agent advisors through 210 offices across the country.