Page 87 - Life Insurance Today January-June 2020

a discount for a large sum assured. sector biggies take a big hit - with Based at Max Life's corporate office in
This discount is calculated based on HDFC Life reporting 33 per cent YoY Gurugram, Bhatia will be reporting to
the sum assured, policy term and pre- decline, SBI Life 46 per cent, IPRU Life Aalok Bhan, Director and Chief Mar-
mium paying term. Opting for Edel- 52 per cent and Max Life 20 per cent. keting Officer, Max Life.
weiss Tokio Life - Simply Protect is a This is because the LIC of India has Bhatia brings with her over 18 years
simple choice to secure the family's taken precautionary measures and in- of experience in strategizing, imple-
future and ensure financial stability stead of declining proposals, the Cor- menting, and strengthening corporate
even in difficult times. poration has decided to go slow in is- narratives for businesses across mul-
suing new policies and has issued a tiple sectors like IT, Retail, Technology,
Life Insurance Premium separate questionnaire to assess the Industrial. Her experience of planning

collection falls amidst proposer's/ the life to be assured's ex- and driving critical corporate social
posure to the virus. The questionnaire responsibility focus and community ini-
Covid-19 seeks travel details of the proposers/ tiatives, media and public relations
People affected from COVID-19 con- the life to be assureds, their family programmes, strategic branding initia-
tinue to increase unabated even after members as well as of co-habitants. tives, government relations and crisis
the nationwide lockdown got over, The questionnaire regarding foreign communications will play an important
premium collection of life insurance travel includes questions on countries role in reinforcing Max Life's commu-
companies has taken a big hit. Long visited after November 15, 2019, du- nications outreach in India.
gestation period makes COVID-19 a ration of stay, date of return to India Speaking on the appointment, Bhan
highly infectious disease, which puts as well as reports on screening/ said: "We are happy to welcome
even healthy applicants of insurance COVID-19 test/ isolation/ quarantine Geetanjali to the Max Life family.
policies at high risk of getting infected on arrival at airport/sea port etc. It These are unprecedented times that
after issuance of a new policy. also seeks details of the proposers'/ the require innovative ways of communi-
While the insurers can't deny the ex- life to be assureds' plans of foreign vis- cating with empathy and intent. We
isting obligations under old policies, is- its within next one year. On travel believe Geetanjali, with over 18 years
suance of new life insurance policies, from one state to another within In- of diverse experience will contribute
under the shadow of COVID-19, would dia by rail/road/air after May 1, 2020, towards narrating our story with cre-
assume higher risk compared to nor- the questionnaire seeks details of ativity and depth. We wish her a suc-
mal period. As a result, the individual state visited, date of travel and cessful journey ahead with the Com-
weighted received premium (WRP) of whether screened, isolated or quaran- pany and look forward to her valuable
the Life Insurance Industry posted a tined etc. insights and expertise."
decline of 19.8 per cent YoY in May'20 Commenting on her appointment,
(v/s -43.7 per cent YoY in Apr'20) Max Life Insurance names Bhatia said, "I am delighted to be a
mainly due to the COVID-19 outbreak, Geetanjali Bhatia as Cor- part of Max Life and look forward to
which continues to weigh down busi- narrating the Company's growth story.
ness performance. porate Vice President & In these challenging times when the
Head - Corp Comm
WRP, which is a measure of premium whole world is evolving with COVID-19
received on individual products and Max Life Insurance has announced the pandemic, it is important for compa-
calculated as the sum of the first-year appointment of Geetanjali Bhatia nies to stay relevant and keep intro-
premium on renewal policies and 10 Nehru as Corporate Vice President & ducing innovative strategies to reach
per cent of single premium policies, Head - Corporate Communications. their internal as well as external stake-
has posted a huge decline of 32.1 per Bhatia will lead the corporate commu- holders. I am excited to work with the
cent in May'20 (v/s -40.3 per cent YoY nications vertical of the company. wonderful team at Max Life in contrib-
in Apr'20) for private life insurers. She will play an instrumental role in uting to enhancing our brand love by
However, public sector insurer Life In- shaping, directing, and strengthening creating impactful content and expe-
surance Corporation (LIC) of India re- Max Life's internal and external com- riences for consumers."
ported much lower decline of 3.1 per munications narrative in line with its Before joining Max Life, Bhatia worked
cent YoY (v/s -47.9 per cent YoY in values of caring, collaboration, cus- with Ingersoll Rand as the Head of
Apr'20) in individual WRP, while private tomer obsession, and growth mindset. Corporate Relations. R

Life Insurance Today January - June 2020 87