Max Life Insurance Company Ltd. (“Max Life” / “Company“) announces a strategic bancassurance partnership with CSB Bank (“CSB“), a premier private sector bank in India. Through this partnership, Max Life and CSB Bank are offering a range of savings, protection, retirement, and group life insurance plans to more than 2.5 million CSB customers.
Max Life and CSB Bank Leadership at the Partnership Agreement Signing Ceremony
The association enables a smooth integration of Max Life’s insurance offerings into CSB Bank’s service channels, allowing customers to easily access insurance products alongside their banking services. With a rich heritage spanning over 103 years, CSB Bank stands as one of Keralas oldest private sector banks. The bank has an extensive network of 801 branches across India, with a strong distribution footprint across southern India. This tactical alliance is designed to harness the combined strengths of Max Life and CSB Bank and aligns with the strategic goals and growth plans of both partners, supporting increased insurance penetration and market expansion.
Sumit Madan, Chief Distribution Officer, Max Life, said, “Max Life is deeply committed to expanding its distribution channels, with a focus on addressing the financial protection needs of diverse demographics across India. Our partnership with CSB Bank is a significant step in our mission to bring life insurance to the underserved, ensuring that every Indian has access to the security they deserve. This partnership will allow us to provide our diverse insurance solutions to the bank’s customers, empowering them to achieve their aspirations and protect their loved ones at every life stage.”
Mr. Narendra Dixit, Head – Retail Banking, CSB Bank, said, “We are elated to partner with Max Life as we take a step towards providing a diverse range of financial solutions for our customers. This partnership marks a significant step forward in our mission to offer a broader spectrum of insurance products and services, further enriching our customer experience and financial well-being.”
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 annual audited financials for FY2023-24, Max Life has achieved a gross written premium of INR 29,529 Cr.
About CSB Bank (www.csb.co.in)
CSB Bank Limited is one of Indias oldest private sector banks, established in 1920. The banks headquarters are in Thrissur, Kerala, and it has over 801 branches and 768 ATMs across India. CSB Banks offers Retail Banking, NRI Banking, Corporate Banking, Loans, SME Banking and Trade Finance. The Bank is expanding its network particularly in the north and west India.
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