{"id":15062,"date":"2022-01-12T18:02:50","date_gmt":"2022-01-12T12:32:50","guid":{"rendered":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/"},"modified":"2022-01-12T18:25:07","modified_gmt":"2022-01-12T12:55:07","slug":"max-life-insurance-co-ltd-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/","title":{"rendered":"Max Life Insurance Achieves Claims Paid Ratio of 99.35%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3670586072\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Delhi, India (NewsVoir)  \u2022  Paid 19,922 death claims worth INR 885.57 crores during the Financial Year 2020-211   Max Life Insurance Co. Ltd (\u201cMax Life\u201d\/\u201cCompany\u201d), today announced that it has paid 19,922 death claims worth INR 885.57 crore during the Financial Year 2020-21, resulting in an individual death claims paid ratio of 99.35% for the Company. Max Life\u2019s customer commitment has helped the Company consistently improve the claims paid ratio to surpass the 99% benchmark for the past two financial years.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1484918905\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> In the pursuit of becoming a digital-focused life insurer, Max Life has deployed predictive analytics-based underwriting models and robust fraud management strengthened by the digitization of forensic controls. This has consistently improved Max Life\u2019s claims paid ratio over the last five years from 97.81% in FY\u201917 to 99.35% in FY\u201921, making it the company\u2019s new \u2018India Ke Bharose Ka Number\u2019+.<\/p>\n<p>       Max Life Insurance &#8211; Individual Death Claims Paid Ratio (%)*  (Consistent improvement over the last 5 years)  FY 2016 &#8211; 17  FY 2017 &#8211; 18  FY 2018 &#8211; 19  FY 2019 &#8211; 20  FY 2020 &#8211; 21  97.81%  98.26%  98.74%  99.22%  99.35%                       Mr. Prashant Tripathy, MD &#038; CEO, Max Life said, \u201cAt Max Life, we are proud of accomplishing the milestone of 99.35% claims paid ratio in FY20-21. By prioritizing digital-led customer services, we have enabled a hassle-free claims settlement experience that has become more crucial during the pandemic. At a time when the customers have reached out to support them with quick claim disbursal, our focus on being &#8216;Customer Obsessed&#8217; has inspired us to enhance our service with an assurance of standing with them at the most critical juncture of the relationship.\u201d   By understanding the customer\u2019s requirements during the pandemic, Max Life has strengthened digital servicing initiatives to deliver contactless, paperless services and enable more self-serve options. The Company has also introduced WhatsApp for customer servicing, integrating an AI-based chatbot &#8211; \u2018Mili\u2019 to serve customers round the clock. This has helped Max Life handle more than 40 lakh service queries on its digital platforms in FY21.<\/p>\n<p> + basis IRDAI Annual Report FY20-21  * basis IRDAI Annual Report 2016-21  + Bharose Ka Number is Max Life\u2019s Brand Campaign on the Claims Paid Ratio. Claims Paid Ratio is a ratio of the death claims paid against the number of death claims received in a Financial Year.<\/p><div class=\"trade-content_5\" id=\"trade-367702011\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> 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, an Indian multi-business corporation.<\/p>\n<p> 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 almost two decades through a need-based sales process, a customer-centric approach to engagement and service delivery, and trained human capital.     As per public disclosures and annual audited financials for FY20-21, Max Life has achieved a gross written premium of INR 19,018 crore. As of 31st March 2021, the Company had INR 90,407 crore of assets under management (AUM) and a Sum Assured in Force of INR 1,087,987 crore.<\/p>\n<p> For more information, please visit the Company&#8217;s website at www.maxlifeinsurance.com.<\/p>\n<p>  PWR PWR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2930624545\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Delhi, India (NewsVoir) \u2022 Paid 19,922 death claims worth INR 885.57 crores during the Financial Year 2020-211 Max Life Insurance Co. Ltd (\u201cMax Life\u201d\/\u201cCompany\u201d), today announced that it has paid 19,922 death claims worth INR 885.57 crore during the Financial Year 2020-21, resulting in an individual death claims paid ratio of 99.35% for [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-15062","post","type-post","status-publish","format-standard","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Max Life Insurance Achieves Claims Paid Ratio of 99.35% - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Max Life Insurance Achieves Claims Paid Ratio of 99.35%\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Delhi, India (NewsVoir) \u2022 Paid 19,922 death claims worth INR 885.57 crores during the Financial Year 2020-211 Max Life Insurance Co. Ltd (\u201cMax Life\u201d\/\u201cCompany\u201d), today announced that it has paid 19,922 death claims worth INR 885.57 crore during the Financial Year 2020-21, resulting in an individual death claims paid ratio of 99.35% for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-12T12:32:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-12T12:55:07+00:00\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/\",\"url\":\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/\",\"name\":\"Max Life Insurance Achieves Claims Paid Ratio of 99.35% - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"datePublished\":\"2022-01-12T12:32:50+00:00\",\"dateModified\":\"2022-01-12T12:55:07+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\"},\"breadcrumb\":{\"@id\":\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tradebrains.in\/features\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Max Life Insurance Achieves Claims Paid Ratio of 99.35%\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tradebrains.in\/features\/#website\",\"url\":\"https:\/\/tradebrains.in\/features\/\",\"name\":\"Trade Brains\",\"description\":\"Stock Market NSE\/BSE Latest News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tradebrains.in\/features\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\",\"name\":\"PTI News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"caption\":\"PTI News\"},\"url\":\"https:\/\/tradebrains.in\/features\/author\/ptinews\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Max Life Insurance Achieves Claims Paid Ratio of 99.35% - Trade Brains Features","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/","og_locale":"en_US","og_type":"article","og_title":"Max Life Insurance Achieves Claims Paid Ratio of 99.35%","og_description":"New Delhi, Delhi, India (NewsVoir) \u2022 Paid 19,922 death claims worth INR 885.57 crores during the Financial Year 2020-211 Max Life Insurance Co. Ltd (\u201cMax Life\u201d\/\u201cCompany\u201d), today announced that it has paid 19,922 death claims worth INR 885.57 crore during the Financial Year 2020-21, resulting in an individual death claims paid ratio of 99.35% for [&hellip;]","og_url":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/","og_site_name":"Trade Brains Features","article_publisher":"https:\/\/www.facebook.com\/TradeBrainsOfficial\/","article_published_time":"2022-01-12T12:32:50+00:00","article_modified_time":"2022-01-12T12:55:07+00:00","author":"PTI News","twitter_card":"summary_large_image","twitter_creator":"@TradeBrainsGrp","twitter_site":"@TradeBrainsGrp","twitter_misc":{"Written by":"PTI News","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/","url":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/","name":"Max Life Insurance Achieves Claims Paid Ratio of 99.35% - Trade Brains Features","isPartOf":{"@id":"https:\/\/tradebrains.in\/features\/#website"},"datePublished":"2022-01-12T12:32:50+00:00","dateModified":"2022-01-12T12:55:07+00:00","author":{"@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3"},"breadcrumb":{"@id":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/tradebrains.in\/features\/max-life-insurance-co-ltd-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tradebrains.in\/features\/"},{"@type":"ListItem","position":2,"name":"Max Life Insurance Achieves Claims Paid Ratio of 99.35%"}]},{"@type":"WebSite","@id":"https:\/\/tradebrains.in\/features\/#website","url":"https:\/\/tradebrains.in\/features\/","name":"Trade Brains","description":"Stock Market NSE\/BSE Latest News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tradebrains.in\/features\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3","name":"PTI News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","caption":"PTI News"},"url":"https:\/\/tradebrains.in\/features\/author\/ptinews\/"}]}},"_links":{"self":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/15062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/comments?post=15062"}],"version-history":[{"count":1,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/15062\/revisions"}],"predecessor-version":[{"id":15070,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/15062\/revisions\/15070"}],"wp:attachment":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media?parent=15062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/categories?post=15062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/tags?post=15062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}