Max Life Insurance Company & Career Plan 19 January 2019

Friends, this is a very popular educational website in Maru-Gujarat.com. We Published daily educational news, New jobs, CCC, Results, Call Letters, Jobs in Gujarat, Bank jobs in Gujarat, Bank Jobs in India, GK, GK Gujarat, Current Affairs, Daily Current Affairs, Latest Study Materials Useful Application in our site. Thanks for Visit.

JOIN TELEGRAM ☞ CLICK HERE

Max Life Insurance Company & Career Plan: As we all know the insurance industry in India is growing massively over the years and creating great career opportunities in them as well. Max Life Insurance as one of the foremost insurance company in them. Max Life Insurance has a strong track record of 15 years and offers great investment experience. Max Life Insurance has a great workforce and they recruit employees every year in their branches. So, In this article, we have given the information about Max Life Insurance Company and its Management, Financial Details, Products, News

Max Life Insurance Company – Overview

Max Life Insurance Company was established in 2000 and initiated its operations during 2001. Presently it is not only one of the leading names in the Indian Insurance Industry but also the largest life insurance company among the privately held non-banking companies of India. It is a joint venture of Max India Ltd, one of the leading conglomerates of India and Mitsui Sumitomo Insurance Co. Ltd, Member of MS&AD Insurance Group. The group is presently one of the ten leading providers of general insurance services across the globe.

Following are some of the major achievements of the insurance company since its inception:

• Ranked 5th in ‘India’s Most Respected Companies’ by Businessworld in 2004 and 2006
• Rewarded ‘Asia Insurance Industry Award for Innovation’ in 2009
• Ranked 7th in ‘Best companies to Work For’ and ‘The best life insurance company to work for in India’ in 2008 by BT Mercer – TNS Survey
• Amongst the top 25 companies in ‘Gallup Great Work Place Award’ in 2009
• Received the ‘CIO 100 award for IT excellence’ in 2008 and 2011
• Awarded the ‘CII-Exim Bank Commendation Certificate for Business Excellence’ in 2008, 2009, 2010
• ULIPs funds recognized as top quartile in performance by Outlook Money in 2008, 2009, and 2011

At present, the organization has 7488 employees and 39,254 agents and till the end of the year 2011, it has 111 MDRTs. It presently has 390 trainers. The major awards and recognitions won by the insurance company could be mentioned in a table given below:

Year	Award	Provider
2003	One of the 25 best companies in India with regards to work prospects	Businessworld 2003 ‘Great Workplaces of India’
2006	Best Six Sigma Project	Sakal Six Sigma Excellence Awards 2006
2006	Indo American Corporate Excellence Award for Best Indo-US Company in Financial Services Category
2007	One of the 3 leading Asia Life Insurance Company of the Year Award	Asia Insurance Review
2009	Gallup Great Work Place Award
	Golden Peacock Award for Excellence in Product Innovation for Max Vijay
2009	CII National Six Sigma Recognition for Best Six Sigma Project
	The sole organization to have funds in the higher quartile in every fund category	Outlook Money Survey
2012	QCI DL Shah Awards for Best Six Sigma Project on the economics of Quality

Here is some of the first’s achieved milestones by Max Life Insurance are as follows:

• First company to have provided a free look period of 15 days for the customers, later on IRDA made this mandatory
• First Indian life insurance company to have provided different services to the agents and customers over the phone
• First company to have initiated toll free lines for agent services
• First life insurance company in India to have started service centers at the regional level
• First and the sole Indian life insurance company to have put into practice the Lean methodology of service excellence in service industry
• First Indian life insurance company to have been awarded with ISO 9001:2008 certification

Max Life Insurance Company Management

Her is the list of the individuals who are the part of The Board of Directors at Max Life Insurance:

Name	Designation
Analjit Singh	Chairman
Marielle Theron	Director
Anuroop Singh	Vice Chairman
John Poole	Director
Rahul Khosla	Director
Rajesh Khanna	Director
Rajesh Sud	CEO and Managing Director
Toshinari Tokoi	Director
Rajit Mehta	Executive Director and Chief Operating Officer
Hideaki Nomura	Director
Leo Puri	Director

The management team of the insurance company may be given as below:

Name	Designation
Rajesh Sud	CEO & Managing Director
Prashant Tripathy	Chief Financial Officer
Rajit Mehta	Executive Director and Chief Operating Officer
Rajiv Mathur	Director – Legal and Compliance
Ashish Vohra	Senior Director and Chief Distribution Officer
Sanchit Maini	Appointed Actuary
Shailesh Singh	Chief People Officer
V Viswanand	Director and Head – Products and Persistency Management
Anisha Motwani	Director and Chief Marketing Officer

Max Life Insurance Company Financial Details

The following table represents some important Max Life Insurance financial details for the first quarter of 2012-13:

Domain	Figures in INR thousands
Income from gross interest, rent, and dividends	418,428
Profit on sale and redemption of investments	28,194
Amortization of discount/(premium)	36,494
Miscellaneous income	99
Employee remuneration and welfare benefits	12,260
Donations	6000
Interest and bank charges	448
Travel, vehicle running, and conveyance expenses	7,508
Rents, taxes, and rates	161,220
Profit/(loss) before taxation	295,549
Provision for taxation	140,000
Profit/(loss) after tax	155,549

Following are some other financial information about the insurance company:

Domain	Figures in INR
Paid up capital	2127 crores
Sum assured	158,251 crores
Policies sold	62.18 lakh
Assets managed	18,023 crores

Max Life Insurance Company Products

Here is the list of Max Life Insurance products could be mentioned as below:

Protection Plans

• Max Life Platinum Protect
• Max Life Premium Term Return Plan

Child Plans

• Max Life Shiksha Plus II
• Max Life College Plan

Retirement Plans

• Max Life Life Partner Plus Plan
• Max Life Immediate Annuity

Growth Plans

• Max Life Flexi Fortune
• Max Life Fast Track Plan

Savings Plans

• Max Life Life Gain Plus 20 (Par)
• Max Life Life Gain Plus 25 (Par)
• Max Life Endowment To Age 60 (Par)
• Max Life 20 Year Endowment (Par)
• Max Life Life Gain Endowment
• Max Life Guaranteed Monthly Income Plan
• Max Life Life Pay Money Back
• Max Life Whole Life (Par)

Strategic Plans

• Max Life Future Secure
• Max Life Max Vriksha Money Back Plan
• Max Life Max Amsure Bonus Builder Plan
• Max Life Max Mangal Endowment Plan

Health Plans

• Max Life LifeLine Healthy Family Plan
• Max Life LifeLine Wellness Plus Plan
• Max Life LifeLine MediCash Plus Plan

Group Plans

• Max Life Max Super Life
• Max Life Group Credit Life
• Max Life Max Group Life Shield
• Max Life Group Traditional Gratuity Plan

Group Life Riders

• Group Terminal Illness
• Group Accidental Death Benefit
• Group Critical Illness Pre Payment
• Group Accidental Dismemberment
• Group Critical Illness Additional Payment
• Group Total Permanent Disability Benefit due to Accident
• Group Total Permanent Disability Benefit due to Accident & Sickness

Max Life Insurance News

One of the recent developments of Max Life Insurance has been its renaming from Max New York Life on 27th June, 2012. Also on the same day, Not only 26% of the company’s shares were transferred to Mitsui Sumitomo Insurance Co Ltd but also Hideaki Nomura and Toshinari Tokoi were appointed as a board of directors’ members as well. The share transfer was accomplished through approval from the Insurance Regulatory and Development Authority, Competition Commission of India and Reserve Bank of India.

Tokoi has more than 30 years of experience in the insurance industry and has expertise in the planning, underwriting marine insurance, sales production and administration and governance of international business functions. Similarly, Nomura has not only worked for 26 years in various financial industries such as insurance, banking, and investment banking but also played a very important role in strengthening the position of Mitsui Sumitomo within the Asian insurance market.

MS&AD, the parent company of Mitsui Sumitomo, has shelled out INR 2731 crore for the 26% stake in the insurance company and this makes it one of the largest FDIs in the life insurance sector of India. This deal has taken Max Life’s market value to INR 10,504 crores. Max India still holds 70% shares in the insurance company.

We hope that this article will not only help you to get information about Max Life Insurance but also encourage you to take efforts for great career opportunities in the insurance company. For more Government & Private Jobs related articles, keep visiting www.gvtjob.com.