Max New York Life Bags the Asia Insurance Industry ‘Innovation of the Year’ Award 2009

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New Delhi: Max New York Life Insurance Company Limited, one of India’s leading life insurance companies, won the coveted Asia Insurance Industry ‘Innovation of the Year ’ Award 2009 instituted by Asia Insurance Review.

Mr Rajesh Sud, CEO & Managing Director, Max New York Life, received the award at a ceremony in Singapore attended by representatives of insurance and re-insurance communities, from around Asia. The Award is in recognition of the company’s path breaking and innovative business concept, ‘Max Vijay’, that offers a unique opportunity to the millions of underserved in the country to save and insure at their terms.

Receiving the award, Mr. Rajesh Sud, CEO & Managing Director, Max New York Life Insurance Co. Ltd, said: “We feel proud and are honoured to accept this prestigious award as it acknowledges Max New York Life’s honest endeavour to reach out to the underserved segment in India. All efforts are also being made to serve the underserved, by making Max Vijay easily accessible to the customers at their doorstep. We are delighted to be acclaimed as a discerning life insurance company”.

“Such recognition is an immense source of delight and clearly establishes Max Vijay as a novel and innovative initiative, which combines global standards in life insurance with social objectives through innovation in product, distribution, marketing, and service delivery. With this award we have now created a place for ourselves in the Asian insurance markets,” he further added.

Max Vijay was launched in October 2008 and has proven to be highly accessible and flexible, the Asia Insurance Review judging panel noted. It has been able to provide financial inclusion to over 75,000 underserved households touching over 3.5 lakhs lives. About Asia Insurance Review - Insurance Industry Award

Asia Insurance Industry Awards instituted in 1996 and now in its 13th year, enjoys an entrenched position in the annals of the Asian Insurance industry. The Awards are bestowed annually and are designed to recognize and encourage various aspects of the insurance business.

A sterling Judging Panel of 22 eminent industry leaders, practitioners and regulators from the markets in Asia and from around the globe evaluate the participating entries through a rigorous selection process, which are independently audited, select the winning entries that capture the spirit of innovation and professional derring-do in the market.

About ‘MAX VIJAY’ - Innovation in Life Insurance