Max Life Insurance has entered into a strategic partnership with Loyalty Solutions and Research Pvt Ltd, parent company of Payback to make the buying process for life insurance simple, easy and attractive for the customer. The partnership is in line with Max Life’s aim to deliver a customer-centric approach to ensure seamless need-based sales and quality services through every possible customer touch point.
As per the partnership, Payback will act as a corporate agent for Max Life and offer life insurance policies to prospects through its digital platforms. Furthermore, it will leverage analytics to create personalised insurance solutions best suited to meet prospects’ needs while simplifying purchase via seamless integration with Max Life’s ecosystem. Payback will educate customers about life insurance, risk protection and ideal insurance plans based on behavioral insights and data-modelling using its omni-channel digital platforms. On the Payback platform, prospects will also have the option to receive assistance from an ‘Online Relationship Manager’ who will assist them with customised insurance solutions and additional queries.
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For Aalok Bhan, director and chief marketing officer, Max Life, as a customer obsessed life insurance company, one of Max Life’s key objectives is to establish superior connect with diverse sets of audiences across all touchpoints. “At Max Life, we aim to expand our footprint among an audience that is discerning and looks for the best solutions that offer value for money. We’re certain that Payback with its insights-driven analytics and ability to offer tailored solutions to customers, will support us significantly in this endeavour,” he added.
According to Ramakant Khandelwal, CMO, PAYBACK India, there is a growing interest for insurance solutions, especially amongst the youth, who like to discover and purchase their favorite products via digital channels. The partnership is aimed at doing that exactly by offering insurance products that are best suited for them, are easy to buy and offer value of money. “Being a digital-led loyalty platform, we are delighted to partner with Max Life, an insurance player with an equal focus on the digital space. Both companies have a customer-first approach and this strategic tie-up strengthens it even further,” he stated.
The partnership is aimed at strengthening the Payback insurance portfolio, which operates under the umbrella of ‘Payback Protect’. Payback Protect is a dedicated platform of Payback which offers comprehensive insurance solution to its customers across health, life and general insurance. With top insurance companies as partners, ‘Payback Protect’ offers a wide variety of customized insurance solutions basis the need, interest and requirement of the customer with a convenience of online purchase. Max life will further strengthen their offering in life insurance space, thus enhancing the purchase experience for prospects. With customer at the heart of all initiatives, Max Life is creating simple, efficient and customised journeys to bring one closer to the goal of comprehensive financial protection.
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