Max Life’s innovative product approach helps drive 1.5x e-commerce growth in FY23

Bangalore, June 14, 2023: Max Life Insurance Co. Ltd announced a 52% growth in the e-commerce channel in FY23. This growth is backed by a strong surge in direct-to-customer online sales driven by innovative product solutions.
 

In FY23, Max Life had a substantial industry presence in the online protection space with 26% of its new customers acquired online. The Company has also doubled its market share in the online savings space in the fiscal. Few of its most-selling offerings including - the Smart Fixed-return Digital plan (UIN: 104N123V01), Smart Secure Plus Plan (UIN: 104N118V01), and Term Insurance for homemakers, are offered for online and digital-savvy customers through which Max Life is reaching new customer segments and is providing a superior digital experience.
 

V. Viswanand, Deputy Managing Director, Max Life said, “We are focused on creating differentiation in a highly competitive and cluttered market and have ensured that flexible and feature-rich products are offered to the growing millennial segment. Our growth story in the e-commerce space is nothing short of remarkable, and our products and business agility remain the cornerstone of this business.”