Max Life Insurance announces key initiatives focusing on customer centricity

Last Updated: Wed, Jan 30, 2013 07:23 hrs

Max Life Insurance has announced new initiatives to further enhance customer centricity. The Company has launched these initiatives across the customer value chain during 2012, which includes the Claims Guarantee and the Benefit Illustration. The Key Features Document (KFD) will be launched very soon.

To enhance the post sales experience of its policyholders, Max Life Insurance also pledges a 'Service Promise' that will entail:

  • 20 sec call pickup

  • 4 - hour query acknowledgement

  • 24-hour resolution of simple queries (e.g. NAV information, request for premium receipts)

  • Free premium cheque pickup in 20 cities within 24 hours

Since the Policy Contract is the most important document from the policyholders' perspective, a simplified and summarised version explaining the key product benefits and features (KFD) has been created by Max Life Insurance. The Key Features Document (mentioned above) will be sent along with the policy contract and will enable the policyholder to better understand the policy purchased. The company will soon be including the KFD as part of policy pack for the complete product suite.

Max Life Insurance believes that a transparent dialogue to improve customer's understanding of products at pre-sales stage is of paramount importance to promote need-based sales. The first of that attempt is the improved Benefit Illustration, which includes a graphical representation to highlight Premium versus Living Benefits and Death Benefits. The new Benefit Illustration has been developed after multiple rounds of seller and consumer research.

Rajesh Sud, CEO and Managing Director, Max Life Insurance said, "Max Life has embarked upon a journey to put Customer at the core of its strategic thinking. We are committed to being transparent, customer focused, and fair in dealing with our customers. All three initiatives are in line with our philosophy of providing clear information to the customer and to keep them informed – before, during and after the sale. We believe that it is important to facilitate trust building with our esteemed policyholders as they have entrusted us with their hard-earned money to help them meet their long-term savings and protection needs."

ApnaPaisa News Desk

ApnaPaisa is India's leading Online market place for financial products such as loans, credit cards and insurance plans. Author can be reached at

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