Delhi: Max Life Insurance, one of India’s leading non-bank promoted private life insurers, a joint venture between Max Financial Services Ltd and Mitsui Sumitomo Insurance Co. Ltd, has beenconferred withtheprestigiousCelent Model Insurer Asia Award 2016in the category of’IT Management Best Practices’.The award was received by Mr. R Krishnakumar, CVP and Head – Business Performance Analytics, Max Life Insurance, at an award ceremony held in Singapore.
Max Life Insurance was presented the award for successfully implementing actionable Business Intelligence and Analytics Insights which the sales force can use anytime, anywhere, across any network and through any device. The Company was declaredas the winner post rigorous evaluation on the basis of its excellent performancein three core areas – technological initiatives that have delivered demonstrable business benefits after going live; the degree of innovation relative to the industry; and the quality of the technology or implementation excellence.
Acknowledging the award, Mr. Rajesh Sud- Executive Vice Chairman and Managing Director, Max Life Insurance, said, “We are extremely delighted and proud to have beenconferred with Celent Model Insurer Asia Award 2016for ‘IT Management Best Practices’. At Max Life Insurance we are dedicated to innovation and are constantly exploring latest technologies to support our business. The successful implementation of BI and analytics insights has enabled early risk identification and thus helped in improving the quality of our book. This is a testimony to our relentlessefforts in creating seamless business process through technological innovation.”
According to Wenli Yuan, Senior Analyst at Celent’s Asian Financial Services group, “The Model Insurer Asia Awards recognize how insurers are using technology to change the face of insurance. These insurers should serve as an inspiration to others looking for strong examples of best practice implementation that will have a truly meaningful impact on business results and the industry overall. The entry from Max Life Insurance clearly demonstrated this.”
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