Max New York Life bags Asia Insurance Industry Award for serving the underserved
- Wednesday, November 11, 2009, 17:20
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Microfinance Focus, Nov. 11, 2009: 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. Max New York Life has been recognized for an innovative new insurance product that untaps the potential offered by the millions of uninsureds in the country, said the report published by Asia.
“There are over 115 million people in India with limited access to insurance and savings products. Max New York Life has recognized the need for protection and savings and the untapped potential of the underserved millions in the country. Breaking free of the existing paradigms in insurance, Max Vijay has proven to be innovative in product and distribution”, the judging panel said.
Max Vijay was launched in October 2008 and it has been able to provide financial inclusion to over 75,000 underserved households touching over 3.5 lakhs lives.
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.
Receiving the award, Mr. Rajesh Sud, CEO & Managing Director, Max New York Life Insurance Co. Ltd, said: “We feel proud and are honored to accept this prestigious award as it acknowledges Max New York Life’s honest endeavor 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.” he further added.
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One Comment on “Max New York Life bags Asia Insurance Industry Award for serving the underserved”
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Congratulations you, Rajesh Shood for receiving ” Inovation of the Year” Award 2009, which is a mark of excellent work done by you. Growth of the insurance sector is the primary condition for inclusive growth and inclusion of financial sector because at a micro level, running any enterprises is riskful. Hapning risk can be reduces by introducing insurance sector in it. By this we can save million lives who living extreme poverty.