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Max Life introduces Instant Insurance Confirmation (Insta-COI)+

Max Life Insurance have launched another digital solution Instant Insurance Confirmation (Insta-COI)+.Through recent digital interventions like chatbot and WhatsApp servicing, Max Life has provided novel service experiences. The Company also added a financial payout services function to its website, which made it quick and hassle-free for clients and improved the whole digital experience, supporting its aim to be ubiquitous for its customers.

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KEY POINTS:

  • The digitization of onboarding processes for paperwork makes this project viable.
  • This solution, which is supported by AI-enabled smart underwriting, is currently available for some low-risk prospects who select an amount insured of up to INR 25 Lakh.
  • A joint venture between Max Financial Services Limited and Axis Bank Limited is called Max Life Insurance Company Limited. A multi-business firm based in India, the Max Group includes Max Financial Services Ltd.
  • Through its multi-channel distribution, which includes agency and third-party distribution partners, Max Life offers complete protection and long-term savings life insurance solutions.

About Max Life Progress:

  • Through a need-based sales process, a customer-centric approach to engagement and service delivery, and educated human resources, Max Life has grown its operations over the course of two decades.
  • According to yearly audited financial statements and public disclosures for FY 21–22, Max Life generated a gross written premium of INR 22,414 crore.
  • The Company had INR 1,07,510 crore in assets under management (AUM) as of March 31, 2022, and INR 1,174,515 crore in Sum Assured in Force.

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