- Won Bronze award for “Improve 7 calendar day TAT for Policy servicing”
- Certificate of recognition for community service, alignment of team goals to organizational goals and Persistence in project management
Max Life Insurance, one of India’s leading life insurance companies, has been awarded the ASQ Bronze award for ‘Improve 7 calendar day TAT for Policy servicing’ at the WCQ – World Conference on Quality and Improvement. The Project involved extensive use of Lean Six Sigma methodology and tools which resulted in reducing policy servicing turnaround time by half of prescribed regulatory timelines of 15 days. The project also received a certificate of recognition for persistence in project management.
The other two projects related to ‘Clearance of Unclaimed Balance’ and ‘Reducing Crude Death Rate’ also received Certificate of Recognition. All the three projects were In line with Max Life’s Mission of “being an honest life insurance company, committed to doing what is right for the customer”. This is a significant win as over 300 projects participated from across the world this year.
Speaking about the achievement, Mr. V. Viswanand, COO and Senior Director, Max Life Insurance said, “We are pleased to receive this recognition on a global platform. This award is a testament to our constant endeavour in improving and delivering outstanding service to our customers to whom we offer comprehensive life insurance solution for long-term savings and protection as well as retirement solutions. The recognition received by all three participating projects from Max Life Insurance is a big recognition. The wins make it even more significant as our projects were representing India at this global platform and we proved that India can now compete with the world in terms of quality standards.”
About Max Life Insurance Co. Ltd.
Max Life Insurance, one of the leading life insurers, is a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max India is a leading Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the top general insurers in the world. Max Life Insurance offers comprehensive life insurance solutions for long-term savings, protection and retirement. A financially stable company with sound investment expertise and a market leader in quality of business parameters among private life insurance companies as observed from latest public disclosures (Dec 17) like Customer retention measured through high persistency ratio, highest conservation ratio, lowest surrender to gross premium ratio and best claims paid ratio.
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