Page 14 - Insurance Times September 2019

Max Life introduces Max SBI Life signs pact with Indian Bank
Life Innovation Labs SBI Life Insurance and Indian Bank have entered into a bancassurance pact to
offer holistic financial planning solutions to the latter's
Max Life Insurance Co. Ltd has re- customers. Over 2,800 branches of Indian Bank will
cently an- offer insurance products due to this partnership. SBI
nounced the Life will work closely with Indian Bank to ensure sales
launch of its training, product support and smooth operational pro-
startup accel-
er at or cesses in order to offer life insurance policies to its customers.
p rogramme, Indian Bank's customers will have access to a wide range of life insurance prod-
Max Life Inno- ucts from SBI Life catering to varied life stage needs of the customer. Padmaja
vation Labs. The life insurer will in- Chunduru, MD & CEO, Indian Bank said, "This tie-up with a reputed player will
vite disruptive startups and out of add to the bouquet of products to the valued customers of the Bank".
the box thinkers to partner with Sanjeev Nautiyal, MD & CEO, SBI Life Insurance said, "We are excited and
them in creating futuristic tech- thrilled, in equal measure, to partner with Indian Bank that enjoys a rich his-
based solutions for Max Life in a tory in serving customers over a long period of time. The tie-up, besides bol-
rapidly advancing life insurance in- stering SBI Life's presence, will also help provide more holistic financial plan-
dustry, under the Innovation Labs. ning solution to the bank's customers. We are confident that the partnership
The startups will help create solu- will further empower us in making insurance reachable to more consumers
tions by leveraging new age tech- across the county."
nologies such as Artificial Intelli-
gence, Blockchain, Internet of Things, Ali Onder Lulu appointed as Chief Distribution Officer
Big Data to facilitate a host of ser-
vices such as intelligent data acquisi- of Aviva Life
tion and processing generated from Ali Onder Lulu has been appointed as Chief Distribution Officer of Aviva Life
online/offline sources, intelligent un- Insurance's India business. He will be based out of the
derwriting, intelligent agent/seller company's Gurgaon headquarters. Lulu will oversee the
hiring, financial management and company's multiple customer touch points through its varied
more. The final selection of startups distribution challenges both for individual and corporate cus-
will be made on the basis of rel- tomers. He will lead the company's organic growth plans.
evance to the shared focus areas,
Trevor Bull, Managing Director and CEO, Aviva India said, "Ali
innovativeness of the solution, its has a wide ranging industry experience across many areas of the business but
feasibility and availability of appro-
priate skill set in the startup team. particularly sales and customer care. He has been associated with the Aviva
International family for over 10 years and therefore already lives by the core
Amrit Singh, Sr. Vice President and values that are key to how we operate as a Company.
Head of Strategy, Max Life said, "With
less than 3% life insurance penetra- We will benefit from the new perspectives he can bring as well as his overall
tion in the country, the sector in In- deep knowledge and expertise as we look to increase further the value we pro-
dia presents immense opportunity to vide to all our stakeholders. I am delighted that through his appointment we
insurers to grow. At Max Life, we have further strengthened the Company's Leadership Team to accelerate our
have worked with a large number of growth aspirations."
startups through the past few years
to enhance customer experience. We Max Bupa Health Insurance celebrates Raksha Bandhan
are now taking our commitment to
the next level, by introducing the with #SabKiSister campaign
Max Life Innovation Labs Celebrating the festival that marks the strong bond between brothers and sis-
programme. Through this initiative, ters, this Raksha Bandhan, Max Bupa Health Insurance has launched a unique
we hope to develop robust solutions, #SabKiSister campaign. Through the campaign, Max Bupa aims to celebrate the
mentor and collaborate with start- invaluable contribution of the unsung heroes of healthcare - the nurses, who
ups and build greater synergies be- look after the patients in the time of need. Fondly called as ‘sisters’, the nurses
tween traditional and new age mod- work relentlessly every-day to ensure appropriate delivery of treatment and
els in the life insurance industry." care, and enable millions of patients to regain good health.

14 The Insurance Times, September 2019