New Delhi, November 04, 2022: Max Life Insurance Company Ltd. (“Max Life” / “Company”), has announced a life insurance product distribution tie-up with Tacterial Consulting Private Limited (Ditto). The corporate agent partnership aims to leverage Ditto’s diversified insurance advisory platform to offer Max Life’s plans to online customers.
In the initial phase, Ditto will sell multiple variants of it’s protection plan providing comprehensive coverage against Death, Disease & Disability along with applicable riders facilitated via a seamless digital distribution model. The tie-up aims to improve Max Life’s customer experience by leveraging Ditto’s insurance advisory capabilities and technological prowess to enhance life insurance penetration in the country.
V Viswanand, Deputy Managing Director, Max Life said, “Consumers’ buying behavior has taken a turn towards technology during the pandemic. By partnering with Ditto, we look forward to expanding our online presence and be able to provide new-age consumers a comprehensive selection of our online offerings, which are flexible and tailor-made for millennials.”
Ditto co-founder Shrehith Karkera said, “We’re delighted to partner with it. The base of the association is a common value system wherein both Companies harbor a passion for covering the journey of first-time digital customers in personal finance. We are confident of adequately covering the new-age customers by offering a value proposition and hope that our continued collaboration will scale new heights in the coming future.”
Max Life is on a multi-year journey to become a ‘digital powerhouse’ in the life insurance industry by creating world-class customer experiences on the back of continuous innovation. The life insurer’s e-commerce market share in online protection was a dominant 32% in FY22, registering close to 48% growth over the last fiscal.
The Company continues to tie-up with leading industry fintech players to speed up the customer purchase journey and provide a superior buying experience. By FY26, the Company aims to grow its e-commerce business by 35-50% and touch the Rs 1,500-crore mark in new sales.
About Max Life Insurance
Max Life is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group.It offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners.
Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per public disclosures and annual audited financials for FY2021-22, It has achieved a gross written premium of INR 22,414 crore.
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