Private sector bank major Axis Bank, in a partnership with Max Life Insurance, has today announced the launch of a first-of-its-kind financial planning app that will enhance the customer’s life insurance purchasing experience.
This new application is designed to enable policy issuance in less than 4 hours.
The digital initiative also involves latest analytics tools that will ensure that Axis Bank and Max Life are able to offer customized life insurance solutions after complete understanding of life stage needs of their customers. The tool works seamlessly across the bank and the insurer and leverages huge improvements in operational efficiency to make this possible.
“The launch of this app will further help us in identifying the customer’s needs and constraints and then offer the best product to realize those goals. We will also be able to provide a straight through process with minimal paperwork with the customer interacting with just a single person instead of 6 in the current process,” said Rajiv Anand, Group Executive & Head – Retail Banking, Axis Bank.
“We have always believed in following need based sales process to offer long-term savings, protection and retirement solutions to our customers. Through this financial planning app, we are now able to utilize the latest technologies to speed-up and ease the processes for our customers,” said Ashish Vohra, Senior Director & Chief Distribution Officer, Max Life Insurance.