ENVIRONMENT, SOCIAL AND GOVERNANCE

ENVIRONMENT, SOCIAL AND GOVERNANCE

 

Our approach towards sustainability: Building a secured future for all

At Max Life, our vision is to be the most admired life insurance company by securing the financial future of our Customers. In true spirit, our employees embody this vision by living our purpose and inspiring people to increase the value of their lives while keeping integrity at the core of everything we do. As an organization, we differentiate ourselves with the way we do business – with Empathy, Transparency and Accountability.

Anchored to the core fundamentals of  ‘Sevabhav’, credibility and excellence of the Max Group, we at Max Life have made it our mission to deeply cherish and pursue in our day-to-day operations the values of Growth mindset, Customer obsession, Collaboration and Caring . We have always acted proactively to safeguard the interests of our customers, employees, community members and other stakeholders, and our deep commitment is reflected in our sharper, focused and impactful Environmental , Social and Governance (ESG) programmes. From ensuring gender inclusivity and workforce diversity to incorporating the best practices of corporate governance and tackling environmental challenges and climate change, our ESG strategies are based on material topics and are linked to our strategic goals.

 

 

Our transformational ESG strategy

 

We introduced a long-term, transformational ESG strategy in 2021 that carves our sustainable goals, beliefs and our position as one of India’s top life insurance companies. By focusing on our strategic areas, we consistently strive to create a sustainable future.

 

 

 

Working sustainably and ethically

The key to functioning sustainably is to have a robust corporate governance framework and adherence to moral business practices. We constantly work towards earning our customers’ trust as their preferred financial partner and assuring their financial security. With this vision guiding us, we hope to positively impact the nation and propel sustainable growth of our local communities.

 

Care for people and community

People are the bedrock of Max Life’s success. Building a progressive organization driven by our purpose of Inspiring people to increase the value of their life’, remains our North Star. Diversity, equity, and inclusion are at the heart of our operations, and we had encouraging results in FY 22 deploying enabling programs and initiatives. Today, more than 45% of our sales agents are women, the highest in India’s life insurance sector.

 

 

 

Financial responsibility

We have a financial obligation to meet our customers’ needs for long term protection and savings, while protecting the interests of other stakeholders. We are conscious of the potential influence which our investments may have on people’s lives. To encourage sustainable behavior that will lead to the creation of wealth, we believe that we must take ESG concerns into account, while making investment decisions.

 

Green operations

We ensure appropriate measures are taken to address key areas of concern within the organisation to reduce our environmental footprint. Through internal operations, we engage in addressing issues such as waste management, water conservation, emissions reduction and energy conservation.

 

 

Our performance at a glance

Title of the document Environment                    Social                            Governance

 

 

 

 

   Road ahead

 

Sustainability is a dynamic concept, which needs to be refined and upgraded in light of the changing global practices, policies and benchmarks followed by organisations worldwide. We aim to improve our ESG performance by continuing to review, refine and strengthen our ESG practices. As part of our continued commitment to strengthen our ESG journey, we focus on the following:

• Cut down our CO2 emissions 80% by FY28

• Increase the gender diversity ratio from the current 25% to 30% by FY25

• Digitally enable (self-servicing) business transactions – 90% of all self-servicing operations to become digital by FY25

• Improve the number of digital learning hours to upskill and reskill employees; and also improve total training hours by ~3X by FY25

• Improve ESG integration* and compliance^ in investment decision-making – 100% ESG integration in equity investment research and decision-making by FY23 and 75% of equity portfolio to be ESG compliant at all times from FY23

• Adopting the best ESG practices across industries to enhance overall operational standards

 

 

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments
Claims Paid Percentage

99.34%

99.34%

(Source : Max life annual audited financials FY 21-22)

Max Life Presence

269 Offices

269 Offices

(Source : As reported to IRDAI, FY 21-22)

Sum Assured

₹1,174,515 Cr.

₹1,174,515 Cr.

In force (individual) (Source : Max Life Public disclosure, FY 21-22)

Assets Under Management

₹1,07,510 Cr.

₹1,07,510 Cr.

(Source : Max Life Public disclosure, FY 21-22)

More reasons why our customers choose us

 

 

Let’s Connect

Let’s Connect

Online Sales Helpline
0124 648 8900
 (09:00 AM to 09:00 PM Monday to Saturday)

service.helpdesk@maxlifeinsurance.com
SMS 'LIFE' to 5616188

Let us call you back
Customer Service Helpline
1860 120 5577
(9:00 AM to 6:00 PM Monday to Saturday)
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Please write to us incase of any escalation/feedback/queries.

Write to us
NRI Helpdesk
011-71025900; 011-61329950
(9:00 AM to 6:00 PM Monday to Saturday)

nri.helpdesk@maxlifeinsurance.com