Max New York Life ties up with IOC
MAX New York Life Insurance has announced a tie-up with IndianOil Corporation to boost the sale of its insurance products in rural areas.
By ET Bureau |
MUMBAI: MAX New York Life Insurance has announced a tie-up with IndianOil Corporation to boost the sale of its insurance products in rural areas. With this arrangement, Max New York Life can sell its insurance products through the 2,000 Kisan Seva Kendras, the insurance company said in a statement.
Announcing the tie-up, Max New York Life Insurance deputy managing director Rajesh Sud commented: ���The tie-up will bring insurance to the masses and help boost financial security.��� He further added: ���Emerging markets have immense need for financial protection and long-term saving instruments, but are currently underserved.���
IOC has used the Kisan Seva Kendras to sell fuel, lubricants, insecticides, fertilisers, financial services and FMCG products to the rural markets. Max New York Life will start by setting up offices at 100 such Kisan Seva Kendras across Punjab, Haryana, Gujarat and western Uttar Pradesh. Eventually, this model will be extended to other Kisan Sewa Kandras also across the country.
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