Axis Max Life Insurance and YES BANK are celebrating 20 years of partnership in bancassurance, which has transformed the way insurance is sold and distributed in India. The partnership was started on February 23, 2005, and the first insurance policy was issued on May 28, 2005. Since then, the partnership has served around 3.62 lakh customers, processed over 3,725 claims, and disbursed more than Rs 267 crore in claims, with a total sum assured of over Rs 64,000 crore.
The partnership has been driven by YES BANK’s nationwide presence through its 1,266 branches and Axis Max Life Insurance’s strong digital capabilities, customer focus, and commitment to excellence. The two organizations have been working towards creating a seamless and customer-centric experience through digital innovation, expanding business horizons, and empowering employees.
The partnership has also led to the development of innovative products and services, such as InsurePro CRM, a marketplace for all life, non-life, and health insurance partners, and mSmart, a cutting-edge governance and tracking platform. These platforms have sharpened sales strategies and enhanced customer engagement.
Dr. Rajan Pental, Executive Director of YES BANK, and Prashant Tripathy, Managing Director and CEO of Axis Max Life Insurance, have reaffirmed their commitment to delivering exceptional value to customers and stakeholders through their continued partnership. The future of the partnership will focus on innovation, customer-centricity, and strengthening the bancassurance model to create exceptional value for customers.