Page 20 - The Insurance Times July 2020

income for many years. The plan offers Apr'20) in individual WRP, while private Based at Max Life's corporate office in
a discount for a large sum assured. This sector biggies take a big hit - with Gurugram, Bhatia will be reporting to
discount is calculated based on the sum HDFC Life reporting 33 per cent YoY Aalok Bhan, Director and Chief Market-
assured, policy term and premium pay- decline, SBI Life 46 per cent, IPRU Life ing Officer, Max Life.
ing term. Opting for Edelweiss Tokio 52 per cent and Max Life 20 per cent.
Bhatia brings with her over 18 years of
Life - Simply Protect is a simple choice
This is because the LIC of India has experience in strategizing, implement-
to secure the family's future and en-
taken precautionary measures and in- ing, and strengthening corporate nar-
sure financial stability even in difficult stead of declining proposals, the Cor- ratives for businesses across multiple
times. poration has decided to go slow in is- sectors like IT, Retail, Technology, In-
suing new policies and has issued a dustrial. Her experience of planning
Life Insurance Premium separate questionnaire to assess the and driving critical corporate social

collection falls amidst proposer's/ the life to be assured's ex- responsibility focus and community ini-
posure to the virus. The questionnaire tiatives, media and public relations
Covid-19 seeks travel details of the proposers/ programmes, strategic branding initia-
People affected from COVID-19 con- the life to be assureds, their family tives, government relations and crisis
tinue to increase unabated even after members as well as of co-habitants. communications will play an important
the nationwide lockdown got over, role in reinforcing Max Life's commu-
The questionnaire regarding foreign
premium collection of life insurance travel includes questions on countries nications outreach in India.
companies has taken a big hit. Long visited after November 15, 2019, du- Speaking on the appointment, Bhan
gestation period makes COVID-19 a ration of stay, date of return to India said: "We are happy to welcome
highly infectious disease, which puts as well as reports on screening/ COVID- Geetanjali to the Max Life family. These
even healthy applicants of insurance
19 test/ isolation/ quarantine on arrival are unprecedented times that require
policies at high risk of getting infected at airport/sea port etc. It also seeks innovative ways of communicating with
after issuance of a new policy.
details of the proposers'/ the life to be empathy and intent. We believe
While the insurers can't deny the ex- assureds' plans of foreign visits within Geetanjali, with over 18 years of di-
isting obligations under old policies, is- next one year. On travel from one verse experience will contribute to-
suance of new life insurance policies, state to another within India by rail/ wards narrating our story with creativ-
under the shadow of COVID-19, would road/air after May 1, 2020, the ques- ity and depth. We wish her a success-
assume higher risk compared to normal tionnaire seeks details of state visited, ful journey ahead with the Company
period. As a result, the individual date of travel and whether screened, and look forward to her valuable in-
weighted received premium (WRP) of isolated or quarantined etc. sights and expertise."
the Life Insurance Industry posted a Commenting on her appointment,
decline of 19.8 per cent YoY in May'20 Max Life Insurance names
Bhatia said, "I am delighted to be a
(v/s -43.7 per cent YoY in Apr'20) Geetanjali Bhatia as Cor- part of Max Life and look forward to
mainly due to the COVID-19 outbreak, narrating the Company's growth story.
which continues to weigh down busi- porate Vice President & In these challenging times when the
ness performance. Head - Corp Comm whole world is evolving with COVID-19
WRP, which is a measure of premium Max Life Insurance has announced the pandemic, it is important for compa-
received on individual products and appointment of Geetanjali Bhatia nies to stay relevant and keep introduc-
calculated as the sum of the first-year Nehru as Corporate Vice President & ing innovative strategies to reach their
premium on renewal policies and 10 Head - Corporate Communications. internal as well as external stakehold-
per cent of single premium policies, Bhatia will lead the corporate commu- ers. I am excited to work with the
has posted a huge decline of 32.1 per nications vertical of the company. wonderful team at Max Life in contrib-
cent in May'20 (v/s -40.3 per cent YoY She will play an instrumental role in uting to enhancing our brand love by
in Apr'20) for private life insurers. shaping, directing, and strengthening creating impactful content and expe-
However, public sector insurer Life In- Max Life's internal and external com- riences for consumers."
surance Corporation (LIC) of India re- munications narrative in line with its Before joining Max Life, Bhatia worked
ported much lower decline of 3.1 per values of caring, collaboration, cus- with Ingersoll Rand as the Head of
cent YoY (v/s -47.9 per cent YoY in tomer obsession, and growth mindset. Corporate Relations. T

20 The Insurance Times, July 2020