On Wednesday, Max Life Insurance Co. Ltd and YES Bank Limited celebrated the completion of 17 years of strategic bancassurance partnership. The partnership has offered integration of new-age technologies in the business ecosystem in the past 17 years as they realigned their focus on a robust digital-first delivery that aims to bring agility into the customers’ financial protection journey.
The partnership between the two companies was forged on February 23, 2005. Through a pan-India presence across 1,100 branches, the partnership between Max Life and YES Bank have sold approximately 4.2 lakh policies and offered a sum assured of Rs 55,498 crore to policyholders and their families. Some of the services offered by the Max Life – YES BANK partnership includes new-age solutions like My Connect and Video Marketing, for all life stages including, child, protection, retirement, and savings.
Sharing his thoughts on this latest milestone, Prashant Tripathy, MD and CEO of Max Life, said, “I would like to thank YES Bank for helping strengthen one of the industry’s most successful relationships. Over the years, this enduring partnership has enabled us to protect the financial goals of more than three lakh customers and their families.”
“By leveraging technology, we will ensure seamless integration of digital across every customer touchpoint that will help accentuate business efficiencies,” he added.
Rajan Pental, global Head – retail Banking, YES Bank, also shared his thoughts on the achievement and said in a statement, “Our long-standing partnership with Max Life Insurance has helped consistently deliver new and meaningful offerings that elevate the customer experience with streamlined processes, innovative enablers, and latest technology.”
Talking about the long-term plans of the partnership, Pental added, “We will continue exploring opportunities towards creating holistic solutions that broaden the net of financial protection for our customers and in turn further strengthen our partnership in the years to come.”
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