India-based insurance firm Max Life Insurance has entered into a strategic partnership with Loyalty Solutions and Research, a parent company of Payback, to drive adoption of life insurance through digital sales.
Under the partnership, Max Life plans to provide a seamless need-based sales and services through each possible customer touch point, reported Financial Express.
Payback will serve as a corporate agent for Max Life and provide life insurance policies through its digital platforms.
Additionally, the partnership will tap analytics to produce personalised insurance solutions.
By leveraging behavioral insights and data-modelling using its omnichannel platforms, Payback plans to inform customers about life insurance, risk protection and ideal insurance plans.
The Payback platform will also help customers to get assistance from an ‘Online Relationship Manager’.
Max Life director and chief marketing officer Aalok Bhan was quoted by Financial Express as saying “At Max Life, we aim to expand our footprint among an audience that is discerning and looks for the best solutions that offer value for money.
“We’re certain that Payback with its insights-driven analytics and ability to offer tailored solutions to customers, will support us significantly in this endeavour.”
Payback India CMO Ramakant Khandelwal was quoted by the financial daily as saying: “Being a digital-led loyalty platform, we are delighted to partner with Max Life, an insurance player with an equal focus on the digital space. Both companies have a customer-first approach and this strategic tie-up strengthens it even further.”