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Max Life bags three awards at 6th Fintelekt India Insurance Awards 2016 - 08/07/2016

New Delhi, June 29, 2016: Max Life Insurance, one of India’s leading non-bank promoted private life insurers, a joint venture between Max Financial Services Ltd and Mitsui Sumitomo Insurance Co. Ltd, has been conferred with three prestigious awards- e-Business Leader, Agency Efficiency and Claims Service Leader - at 6th Fintelekt India Insurance Awards ceremony held in Mumbai.

The e-business Channel award is for the companies who have recognized the importance of emerging distribution channel and adopted best practices for customers. Max Life Insurance was adjudged the winner in the large category on the basis of its demonstration of strong growth in the e-Business channel for sales of new policies online and adoption of the channel by customers for renewals.

Max Life also exhibited highest efficiency in business procured through its insurance agents and was felicitated with the Agent Efficiency award which has been instituted by Fintelekt in association with LIMRA.

Max Life Insurance was also recognized for its effort in claims settlement and the company was awarded the Claims Service Leader award in private sector. Max Life has proven itself to be the Claims Service Leader for the financial year 2015-16 with a low repudiation rate and a small outstanding ratio. It also recorded the highest claim settlement rate amongst private sector life insurance companies in the financial year 2015-16 (Source: Annual Report, IRDAI).

Acknowledging the Award, Mr. Rajesh Sud- Executive Vice Chairman and Managing Director, Max Life Insurance, said, "We are proud to be conferred with these three awards. As a company, we have always focused on instilling quality in our business and will carry on with our continuous improvement framework. These awards are an acknowledgement for our efforts to build a customer centric and honest life insurance business. The awards will further encourage us to bring best-in class products and services for our customers."

The Fintelekt India Insurance awards were established to acknowledge the achievements of the insurance companies. The award recognizes the company for demonstrating innovation across multiple functions of its business operations and promoting the 'culture of innovation'. Over the years these awards have given a boost to the aspirations of the Indian insurers.

About Max Life Insurance Co. Ltd. (www.maxlifeinsurance.com) Max Life Insurance, the leading non-bank promoted private life insurer, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is part of the Max Group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the leading insurers in the world. Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 15 years, Max Life Insurance offers superior investment expertise. Max Life Insurance has the vision 'To be the most admired life insurance company by securing the financial future of our customers'. The company has a strong customer-centric approach focused on advice-based sales and quality service delivered through its superior human capital.

For more information, please contact:

Max Life Insurance Co. Ltd. Ryan Marshall +91 9810047944 ryan.marshall@maxlifeinsurance.com Ketchum Sampark Pvt. Ltd. Amandeep Arora + 91 9650166088 amandeep.arora@ketchumsampark.com
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