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Max Life Insurance and PAYBACK India Partner To Drive Adoption of Life Insurance

Max Life Insurance and PAYBACK India Partner To Drive Adoption of Life Insurance

The partnership will allow members of India’s largest multi-brand loyalty program to discover and purchase life insurance via digital channels  

Chennai, 20th January, 2020: Max Life Insurance Co. Ltd (“Max Life”/ “Company”), announced its corporate agency partnership with Loyalty Solutions & Research Pvt Ltd. (“PAYBACK”), the country’s largest multi-brand loyalty program, to make the buying process for life insurance simple, easy and attractive for the customer. This partnership is in line with Max Life’s commitment towards focusing on a customer-centric approach of ensuring seamless need-based sales and quality services delivered through every possible customer touch point.

Under the said partnership, PAYBACK will act as a corporate agent for Max Life and offer life insurance policies to prospects through its digital platforms (website, mobile app). PAYBACK will leverage insight driven advanced analytics to create personalized insurance solutions best suited to meet prospects’ needs while simplifying purchase via seamless integration with Max Life’s ecosystem. PAYBACK will educate customers about life insurance, risk protection and ideal insurance plans based on behavioral insights and data-modelling using its omni-channel digital platforms. On the PAYBACK platform, prospects will also have the option to receive assistance from an ‘Online Relationship Manager’ who will assist them with customized insurance solutions and additional queries.

Commenting on the partnership, Mr. Aalok Bhan, Director & Chief Marketing Officer, Max Life said, “As a customer obsessed life insurance company, one of our key objectives is to establish superior connect with diverse sets of audiences across all touchpoints. We are happy to join hands with PAYBACK, which as India’s largest multi-brand loyalty program, will work to elevate our customer reach and relationship effectively. At Max Life, we aim to expand our footprint among an audience that is discerning and looks for the best solutions that offer value for money. We’re certain that PAYBACK with its insights-driven analytics and ability to offer tailored solutions to customers, will support us significantly in this endeavor.”

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Commenting on the partnership with Max Life, Mr. Ramakant Khandelwal, CMO, PAYBACK India said, “We are excited that there is a growing interest for insurance solutions, especially amongst the youth, who like to discover and purchase their favorite products via digital channels. Our partnership is aimed at doing that exactly by offering insurance products that are best suited for them, are easy to buy and offer value of money. Being a digital-led loyalty platform, we are delighted to partner with Max Life, an insurance player with an equal focus on the digital space. Both companies have a customer-first approach and this strategic tie-up strengthens it even further.”

The partnership is aimed at strengthening the PAYBACK insurance portfolio, which operates under the umbrella of ‘PAYBACK Protect’. PAYBACK Protect is a dedicated platform of PAYBACK which offers comprehensive insurance solution to its customers across health, life & general insurance. With top insurance companies as partners, ‘PAYBACK Protect’ offers a wide variety of customized insurance solutions basis the need, interest and requirement of the customer with a convenience of online purchase. Max life will further strengthen their offering in life insurance space, thus enhancing the purchase experience for prospects. With customer at the heart of all initiatives, Max Life is creating simple, efficient and customized journeys to bring one closer to the goal of comprehensive financial protection.

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