Hyderabad, 27 August, 2024: Max Life Insurance Co. Ltd. (“Max Life/Company”) announces the launch of the ‘Aarohan’ initiative to expand its distribution footprint by adding 22 new offices in Tier 3 and Tier 4 South Indian cities. The initiative aims to enhance protection penetration in these underserved markets through consumer-focused insurance awareness programs, and life advisor recruitments.
Serving approximately 24 lakh customers across South India, Max Life now plans to expand its distribution footprint by recruiting and training local life advisors from Tier 3 and Tier 4 markets in South India. This targeted approach aims to connect with communities that have traditionally limited access to comprehensive life insurance services.
Additionally, as part of Max Life’s ‘DigiSaarthi’ project, the aim is to make the 22 new branches in South India under Aarohan, 100% digital. This initiative shall benefit customers with easy on-call support, advisors with quick virtual assistance, and offices with enhanced digital services, introducing a modern branch experience across these branches.
Sumit Madan, Chief Distribution Officer, Max Life, said, “Max Life’s Aarohan initiative aligns with IRDAI’s vision of ‘Insurance for All by 2047,’ empowering grassroots communities. It aims to make insurance accessible to India’s farthest reaches, ensuring financial security for emerging markets. By expanding into less-explored territories, Aarohan grows our distribution network and delivers trust, excellence, and innovation. This initiative underscores Max Life’s foresight and recognizes the untapped potential in rural and semi-urban regions, highlighting our commitment to inclusive growth.”
Key Aspects of the Aarohan Initiative:
- Regional Health Camps: With a strategic focus on ‘health and wellness,’ Max Life is conducting extensive customer health camps across 22 new offices in South India in two phases. These camps aim to serve nearly 500 consumers, fostering vital discussions around health, wealth, and lifestyle management.
- Localized Awareness Campaigns: Establishing a localized distribution network is a critical component of the Aarohan initiative. By hiring life advisors who are part of the local communities, Max Life aims to ensure that its products are accessible and relevant to local needs.
- Targeted Recruitment Drives: To be held across 22 priority cities, the initiative will implement targeted recruitment drives to attract over 2000 potential life advisors.
As per the Max Life India Protection Quotient Survey 5.0 rural edition conducted in 2023, the life insurance ownership gap is significantly pronounced in rural India, with only 22% of the rural population owning life insurance products compared to 73% in urban areas. Recognizing the insurance gap within rural and urban India, the Aarohan initiative is designed to cater to the unique needs of these communities as well as boost job creation in these markets.
About Max Life Insurance (www.maxlifeinsurance.com)
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2023-24, Max Life has achieved a gross written premium of INR 29,529 crore.
