Max Life Insurance Company Ltd (Max Life) has entered into a life insurance product distribution tie-up with Tacterial Consulting Private Ltd (Ditto). The corporate agent partnership aims to leverage Ditto’s insurance advisory platform to offer Max Life’s plans to online customers.
In the initial phase, Ditto will sell multiple variants of Max Life’s protection plan providing comprehensive coverage against death, disease and disability along with applicable riders facilitated via a seamless digital distribution model.
The tie-up aims to improve Max Life’s customer experience by leveraging Ditto’s insurance advisory capabilities and technological prowess to enhance life insurance penetration in the country.
‘Expand online presence’
V Viswanand, Deputy Managing Director, Max Life, said, “By partnering with Ditto, we look forward to expanding our online presence and be able to provide new-age consumers a comprehensive selection of our online offerings, which are flexible and tailor-made for millennials.”
Ditto co-founder Shrehith Karkera said, “We’re delighted to partner with Max Life. The base of the association is a common value system wherein both companies harbour a passion for covering the journey of first-time digital customers in personal finance.”
Digital powerhouse
Max Life is on a multi-year journey to become a ‘digital powerhouse’ in the life insurance industry. The life insurer’s e-commerce market share in online protection was a dominant 32 per cent in FY22, registering close to 48 per cent growth over the last fiscal.
The company continues to tie-up with fintech players to speed up the customer purchase journey and provide a superior buying experience. By FY26, Max Life aims to grow its e-commerce business by 35-50 per cent and touch the ₹1,500-crore mark in new sales.