Max Life-Yes Bank relationship has over the years sold approximately 2.8 lakh policies.
Max Financial Services share price rallied 4.7 percent intraday on April 13 after its insurance subsidiary extended five-year bancassurance partnership with private sector lender Yes Bank.
The stock has rallied nearly 28 percent since March 23 but before that it corrected 52 percent since March 5. It was trading at Rs 363.75, up Rs 11.70, or 3.32 percent, on the BSE at 1138 hours.
"Max Life Insurance and Yes Bank announced a five-year extension to their strategic bancassurance relationship. Through this renewal of their bancassurance partnership both the companies have reaffirmed their commitment to invest in building a digitally enabled ecosystem that will provide a seamless experience for customers in their financial planning and protection journey," the company said in its BSE filing.
To commemorate the extension of the partnership for another five years, the companies will dedicate the current financial year as the ‘Year of the Customer’ with sharper focus on customer obsession, it added.
"In the coming five years, we plan to further enhance our business and make investments in the area of technology, new product development, and customer service to ensure we journey together to help our customers realise their real value and financially protect their future," Prashant Tripathy, Managing Director & CEO, Max Life said.
The companies began their partnership in February 2005, with a core commitment towards securing the financial future of their customers.
Max Life-Yes Bank relationship has over the years sold approximately 2.8 lakh policies. The partnership has settled death claims of more than Rs 70 crore, and offered protection worth around Rs 34,500 crore to policyholders and their families.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
