Max Life Insurance Company Ltd. (“Max Life“/”Company“), has strengthened its commitment to customers by introducing digital servicing initiatives that has helped bring greater agility, innovation and customer delight amidst the pandemic.
In the last six months, Max Life has introduced a range of digital initiatives that are completely contactless and paperless, across most of its channels including the company’s branch offices. The company has overhauled majority of the physical servicing touchpoints to digital and enabled more options of self-serve on its website.
The company also built an OTP authentication workflow which has eliminated need for physical servicing forms in many work steams. Max Life had also recently introduced WhatsApp for customer servicing, where they integrated their AI based chatbot ‘Mili‘, to serve customers round the clock. This year, till date, more than 40 lakh service queries have been handled on digital platforms.
The success of this journey has ensured customer delight, with a substantial increase in the company’s customer service net promoter scores (NPS score) by 42% from last year. The initiatives have also helped Max Life offer faster turnaround, efficiency, and agility to everyday operations, and offer safer solutions to its customer amidst the pandemic. The company has also been able to significantly decrease the turn-around time in servicing performance by up to 50% from last year.
Manu Lavanya, Chief Operations Officer, Max Life said, “Max Life has many firsts to its credit when it comes to offering and creating differentiated experience for its customer. In our endeavour to offer the best-in-class services and a seamless experience to our customers, we have committed ourselves to journey of digitization of most of our business processes. One such initiative is our paperless and contactless servicing journey, that is designed to reduce errors, while improving loyalty and customer experience significantly.”
He further added, “By achieving digital agility, Max Life has been able to digitalize all communication processes and give an alternate channel of service to our customers, especially in these times when we want our customers to get served wherever they are.”
Max Life has also digitized claims management to ensure that all support documents are accepted online, and customers are able to submit claims in a timely manner, using self-service options – website, digital bots, and AI-driven Interactive Voice Response.
About Max Life Insurance (www.maxlifeinsurance.com)
Max Life Insurance Co. Ltd. (“Max Life“) is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a part of the Max group, an Indian multi business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance group.
Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third distribution partners. Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.
As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on 31st March 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore.
For more information, please visit the companys website at www.maxlifeinsurance.com.