Max New York Life Insurance Company Ltd. is a joint venture between Max India Ltd., one of India’s leading multi-business corporations and New York Life Enterprises, a business unit of New York Life, a Fortune 100 company. Incorporated in 2000, Max New York Life started commercial operation in 2001 and today is one of India’s leading private life insurance companies and has positioned itself on the quality platform. In line with its vision to be the most admired life insurance company in India, it has developed a strong corporate governance model based on the core values of excellence, honesty, knowledge, caring, integrity and teamwork. The company offers long term savings and protection solutions through a suite of individual and group life insurance products and is present across the country through a wide distribution network of multi channel distribution.
Agency distribution is at the core of our multi-channel distribution network complemented by bancassurance, partnership distribution and employed sales force. The Company places a lot of emphasis on its selection process for agent advisors, which comprises four stages - screening, psychometric test, career seminar and final interview. The agent advisors are trained in-house to ensure optimal control on quality of training.
195 agent advisors have qualified for the Million Dollar Round Table (MDRT) membership in 2010. MDRT is an exclusive congregation of the world's top selling insurance agents and is internationally recognized as the standard of excellence in the life insurance business.
The company corporate agency and broking tie-ups with banks and other distributors of financial products.
Max New York Life offers a suite of flexible products. It has 24 individual life and health insurance products and 9 riders that can be customised to suite every need of the customer. Besides this, the company offers 4 products and 7 riders in group insurance business.
In line with its values of financial responsibility, Max New York Life has adopted prudent financial practices to ensure safety of policyholder's funds. The Company's paid up capital as on 29th February, 2012 was Rs. 2,126 crore.