•    A specific CSR initiative of the Company with their Defence channel distribution network
•   The company planted 1300 trees across India in collaboration with the  Indian Armed forces

 New Delhi, 16^th June 2021– To mark the 13^th foundation day of the Company today, Canara HSBC Oriental Bank of Commerce Life Insurance initiated an exclusive CSR drive with their Defence channel network to plant 1,300 saplings across India. The initiative which commenced on 5^th June 2021 targeted various Indian cities and was successfully culminated on 15^th June 2021. The special plantation drive has been successfully organized by the alternate and emerging defence distribution channel of the company in collaboration with different units of Indian Armed Forces – BSF, CISF, CRPF, SSB, BRO and MP Home Guards.

As a vocal advocate of a clean and green environment, the Company has conducted several CSR activities for women welfare, sanitation, child education and skill development in the past. Taking this vision ahead, the Company has gone to new cities to further increase the reach of the awareness campaign with a distinct theme this year. The plantation drive that started on World Environment Day recorded a total of 1,300 saplings planted in Delhi, Gwalior, Jabalpur, Guwahati, Amritsar and Siliguri in the last 10 days.

The plantation drive was conducted under the supervision of the local Armed Forces authorities, adhering to the COVID-19 safety protocols. Officials from Armed Forces facilitated the Company to procure plants in different cities and led to the completion of activity in such a short period of time.

Expressing views on the initiative, Mr Anuj Mathur, MD & CEO, Canara HSBC OBC Life Insurance said:-“Our Company is committed to the objective of environmental sustainability & healthy living for all. We have always made earnest efforts to implement this ideology through our CSR initiatives. This time, through our Defence channel, a plantation drive has been initiated to motivate people in different cities to plant more trees and be a part of a better environment for future generations. The initiative resonates a sense of pride where the Company has joined hands with Indian Armed Forces to sensitize and promote better living for everyone.”

Canara HSBC Oriental Bank of Commerce Life Insurance – 

 Established in 2008, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture between Canara Bank (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%). The company brings together the trust and market knowledge of two big public sector banks in India i.e. Canara Bank and Punjab National Bank combined with the global insurance expertise of HSBC.

Headquartered in Gurugram, the Company has branch offices pan India. The Company sells and services its customers through well-diversified partner bank branches. With a well-established distribution network in Tier 1, 2 and 3 markets combined with new-age tech servicing avenues, the Company is committed to serving its customers as per their preference and needs.

The Company has a well-diversified portfolio of insurance products and solutions, tailored to the specific needs of the customers. The Company offers various products across individual and group space comprising of life, health, online term plans, retirement solutions, credit life and employee benefit segments. The company’s primary focus while offering products is to ensure that customer needs are met, through their life cycle – child education, family protection, long term savings, and retirement while ensuring value for money.

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Pune, 17 September, 2018: Max Life Insurance Co. Ltd, one of the leading life insurance companies in India, announced that the company has paid 10,152 individual death claims amounting to Rs. 353 crores, thus achieving claims paid ratio of 98.26% in FY 17-18. This is a further increase over FY 16-17, when the company paid 97.81% of the total individual death claims received. In FY 17-18, only 178 death claims were rejected and at the end of the financial year only 2 cases were pending for closure.

As per IRDAI annual report for FY 2016-17 released in Jan’18, Max Life Insurance has superior individual death claims paid ratio during the said fiscal year, thus making it a company that has maintained a strong claims paid ratio consistently for the past 4 years i.e. from FY 14-15 to FY 17-18.

Talking about the achievement, Mr. V. Viswanand, Senior Director and COO, Max Life Insurance said, “In line with Max Life Insurance’s vision, mission and values we have aimed at our claims philosophy to be the “fairest, fastest and friendliest” as an important pillar of TCF – Treat Customer Fairly. Through a dedicated claims officer, we also provide guidance to help claimants through hassle-free claims process. In a country which has low protection penetration, high claims paid ratio provides the assurance to life insurance customers that their families will be safe in case of any eventuality and thus encourages them to opt for pure protection products”.

 Over the years, Max Life Insurance has consistently improved its claims paid ratio without compromising on its efficient underwriting controls and robust fraud management. This has been made possible using both analytical and technology interventions. The Company has introduced predictive analytical models, robust checks at the time of policy solicitation in high-risk geographies and geo-tag enabled field or video verifications of customers through its Risk Management Unit.

*basis Max Life Public Disclosures 2017-18

About Max Life Insurance Co. Ltd.

Max Life Insurance, one of the leading life insurers in India, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a part of the Max group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance group, which is amongst the leading insurers in the world. Max Life Insurance has a vision to be the most admired life insurance company by securing the financial future of its customers. Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 18 years, Max Life Insurance offers superior investment expertise. The company has a strong customer-centric approach focused on need-based sales and quality service delivered through its superior human capital.
During the financial year 2017-18, Max Life Insurance achieved gross written premium of Rs. 12,501 crore and  had sum assured in force of Rs. 5,11,541 Crore. As on 31^st March 2018, the Company had Rs. 52,237 crore of assets under management (AUM) and a share capital including reserves and surplus of Rs. 2,689 crore. The Company has more than 32 lakh customers serviced by its 10,226 employees and 54,791 agent advisors through 210 offices across the country.

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