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Introduction- Max New York Life Insurance

Vision Core Values Financial strength

Business Operations of Max New York Life IT implementation track record

Company Introduction

Max New York Life Insurance Company Ltd. is a joint venture between Max India Limited, One of India's leading multi-business corporations and New York Life International. Specialist in the business since 1845 The international arm of New York Life, a Fortune 100 company. The company has positioned itself on the quality platform.

To be the most admired life insurance company in India

Core Values

Excellence Honesty Knowledge Caring Integrity Teamwork

Unmatched financial strength

10% higher solvency margins than stipulated by IRDA, the regulatory authority
MNYL has a paid-up capital of Rs. 366 crore, which is more than the stipulated requirement MNYL deposits 1% of the premium income with RBI towards a Contingency fund MNYL meet both Indian and US reporting norms

Business Operations

The company has around 72,493 agent advisors at

715 offices across 389 cities.

The company also has 36 referral tie-ups with banks.

24 partnership distribution and alliance marketing

relationships each.

Insured millions of lives globally (including 10 US



MNYL provide insurance solutions tailored to meet clients specific needs. With 20 products and 7 Riders, a client has more than 400 options to choose from.

Youngest age covered Oldest age covered

91 days 70 years

Life span covered

Price range

100 years
As Per the age of Insured

Wide range of insurance


Regular products ranging from

Rs.100000 to Unlimited Customized products over Rs.1 crore

Premium payment options Frequency Premium payment options Method Special pricing Bonus payment

Annual / semi annual / quarterly / monthly Cheque, cash, draft, direct debit, credit cards and debit cards 5% discount on female lives Annual disbursement

Bonus payment options

Receive in cash Use to offset premiums Accumulate and receive on maturity Buy fully paid up additional whole life cover Buy one-year term cover

A tool to automatically channelise bonus payments to your needs

Base products

Whole Life Participating

5 year Term renewable and Convertible

20 year Endowment Endowment to age 60

Level term policy

Children endowment products Easy Term

Unit Linked Insurance Plans

Pension Plans

IT Implementation Track Record

Max New York Life started operations in April 2001

Tied up with SOLCORP, a leading provider of software solutions to the life insurance and financial industries and a subsidiary of EDS in June, 2003 in order to implement IT
Used SOLCORP / INGENIUM software platform to provide comprehensive business benefits including increased user productivity, modernization of new business processes and workflow paths, an enhanced customercentric environment, and reduced time to market for new products.

IT Implementation Track Record

In June 2008, Tied up with eDynamic for execution of multiple projects including Web Design & Development, Interactive Marketing, Lead Management, Agent Portal/Customer Portal development & Business Intelligence reporting . Main Objectives

Customer Acquisition Agent Acquisition Employee Acquisition

Objectives for IT implementation

Ramp up its sales process online and support its marketing effort strongly with rapid messaging, promotions & other new initiatives. Transformed into a dynamic interface with cutting-edge product information & highly interactive user experience. Reduce the cost of support to Customers through their Contact Center

IT Implementation Track Record

Divided the Whole IT implementation in three parts

Corporate Website Distribution Portal Group Portal

Corporate Website

Used Sitecore, a state-of-the-art content management system, to build the site, which had an impressive look and feel and provided quick and easy navigation. The site is now content driven and has fresh content being pushed into it frequently. Made the customers realize the importance of insurance policies in life, designed various calculators such as Retirement Calculator, Financial Calculators, Education Calculators, and Health Calculators for the website of the client. Provides users with online policy premium payment functionality Technology Used

.NET Framework2.0
SQL server 2005

Corporate Website

Distribution Portal

Provide Increased Competitive Advantage leading to Higher Retention of Agents. Provide Consistent messaging to the Agent Community. Reduce loss of business due to unavailability of information and marketing collateral e.g. Ability to pull up illustrations for customers, or provide product brochures. Reduce the costs and time taken to communicate with the Agent Community. Provide Quick and easy access to Tools & Calculators enabling them to win business quicker, service customers better and increase their effectiveness. Reduce the cost of support to Agents through their Contact Center. Provide Agents with Increased Control & Visibility into their business.

Distribution Portal

Features Bulletin Board Dashboard Status Tracking for Proposal & Policy Promotions Agents Alerts Compensation for Agent Drop-down for accessing Online Forms Tools & Planners Illustrations Insurance Calculator Retirement Calculator Premium Calculator Easy Product Finder Products - NAV

Distribution Portal

Group Portal

Caters to the needs of CORPORATE CLIENTS of the Insurer. Corporate customers can access information on each & every product available/bought, track the records of their respective employees insured ,etc. Group Portal is a private, secure website which enables the Insurer to share documents and Policy information with their Group Policy end customers. Enhances customer relationships by providing complete 24X7 access to their policy/premium statements along with product brochures, process documents, etc. online. Technology used Java Web Sphere ORACLE

Group Portal

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