Max New York Life and District Central Cooperative Bank Ltd have announced a strategic alliance in Medak to sell life insurance products through the cooperative bank. This alliance is expected to strengthen Max New York Life's rural presence in Andhra Pradesh.
The District Central Cooperative Bank Ltd Medak was established in 1957 by the amalgamation of erstwhile Cooperative Central Banks at Medak and Sangareddy. The bank has a share capital of Rs. 42.84 crores and caters to 3 lakh customers in Medak district. With this partnership, the bank will sell Max New York Life's insurance products through a network of 21 branches, 67 PACS (Primary Agricultural Societies) and 38 ceded societies.
On the other hand, Max New York Life will tailor its products according to the needs and affordability in the rural areas. Important factors like education of children and girls' marriage, etc. flexible premium payment options will be taken into account.
All processes and procedures will be simplified to improve customer experience
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