Partnership enables customers to choose from a bouquet of Max Life Insurance plans including term, savings and retirement life insurance products
Bangalore, 4th May 2023: Max Life Insurance Company Ltd. (“Max Life” / “Company”) and Capital Small Finance Bank have announced their partnership to offer life insurance offerings to Capital SFB’s customers. Through this tie-up, Max Life and Capital SFB will offer their customers with a range of savings, protection, retirement, and group life insurance plans.
Capital Small Finance Bank Limited started operations as India’s first Small Finance Bank in 2016. With an experience of over two decades in the banking industry and having operated as a local area bank before conversion, Capital Small Finance Bank focuses on middle income group customer segment, with special focus on rural and semi-urban areas, via an optimum ‘phygital’ distribution of their products and services.
V. Viswanand, Deputy Managing Director, Max Life said, “We are proud to join hands with Capital Small Finance Bank as part of our growing Bancassurance network. The bank has maintained a key regional focus, making banking more accessible for its rural, semi-urban customer base. This partnership is a testimony to our shared vision of delivering superior customer experience with best-in-class products, digital servicing and omni-channel approach. We look forward to forging a strong and long-term relationship with Capital SFB.”
Mr. Sarvjit Singh Samra, MD & CEO, Capital Small Finance Bank said, “Our partnership with Max Life will pave the way for the Bank customers across the branches and other partnership channels, to access and avail innovative, flexible and varied life insurance products. Max Life has established itself as a customer-centric and quality-focused insurer; we are very confident that this partnership will create long-term value for our customers. This initiative is part of our continual efforts to assist our customers in achieving a stable financial future for themselves and their loved ones.”
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. 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 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 FY2021-22, Max Life has achieved a gross written premium of INR 22,414 crore. For more information, please visit the Company’s website at www.maxlifeinsurance.com
About Capital Small Finance Bank (www.capitalbank.co.in)
Capital Small Finance Bank (CAPITAL SFB) is a bank headquartered at Jalandhar, Punjab, India. Capital Small Finance Bank Limited started operations as India’s 1st Small Finance Bank on April 24, 2016 after conversion from Capital Local Area Bank. Prior to conversion to a Small Finance Bank, Capital Local Area Bank was operating as India’s largest local area bank since January 14, 2000. The core strategy of the bank is to build a retail focused banking franchise by enabling access for middle income group customers to affordable credit in the states Bank operates, diversified & secured advance portfolio, retail focused liability franchise and customer centric business model.