Max Life chose CRMNEXT as a powerful insurance CRM solution that streamlined and automated processes, improved agent management and provided actionable intelligence at all touch points. Read More: https://www.crmnext.com/

1. Transforming Customer Experience
through a Unified Engagement Platform
MAX LIFE - Case Study
Life insurance in India has recorded the fastest penetration growth across the globe in recent years. This enduring
growth has been backed by helpful government policies, strong demographic factors such as a expanding
middle class, young insurable population and growing awareness for protection and retirement planning. Max
Life Insurance wanted to make the process of protecting life simple, accessible and affordable. The company
chose CRMNEXT as a powerful insurance CRM solution that streamlined and automated processes, improved
agent management and provided actionable intelligence at all touch points.
HIGHLIGHTS
ASPIRATIONS
Max Life aspired to create and deliver life insurance products that are simple, affordable and relevant at every stage of
a customer’s life. This customer-centric approach would in turn significantly boost average ticket size. The company also
wanted to increase market penetration by enhancing lead conversion ratio, boosting agent recruitment and productivity
on a single unified platform. Max Life also wanted to transform operations through seamless integration coupled with
straight through processing.
Request Types
200+
Service Request
50+
Straight Through Processing
90%
Straight Through Processing
80%
Communication Templates
300+
Customer Servicing
Policy Servicing
Integration Touchpoints
40+
Users
8000+
Agents
50,000+
Policies
6.5 million+
Cities
750+

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New Business Acquisition
ICRMNEXT empowered Max Life to transform operations
by capturing customer, agent and prospect data through
omnichannels including web, phone, branch, SMS, email,
mobile and self service portal. This involved meticulously
integrating different systems such as new business
underwriting, document management system (DMS), mail
room, SAS analytics and other systems. CRMNEXT also
enabled Max Life to drastically reduce post issuance
grievances and ensure consistency with a unique
welcome call process.
Agent Servicing
Through CRMNEXT, Max Life executives got a unified
view of the broker and independent agent details like
commission, incentives etc. They were able to generate
commission and TDS statements on demand and update
demographicupdatesasstraightthroughprocesstoagent
management system. A 3600
visibility enabled Max Life
to have a complete view of distribution performance, thus
significantly enhancing channel performance. The agents
were also assisted through best practices, guided selling,
knowledge bases, quotas and reports.
Renewals
CRMNEXT empowered Max Life to auto generate
renewal base and execute rule based renewal allocation
to different vendors. Different allocation rules were
applied to ageing buckets. This ensured real time update
on payment status and calling buckets with monitoring of
allocated vs. called vs paid. Service teams also utilized
cheque pickup request management along with booklet
reconciliation, dialer Exports and disposition hand-offs
ECS Registration, tele-underwriting etc.
Policy Servicing
CRMNEXT made policy servicing faster by providing
executives a unified insurance policy view that delivered
a 3600
policy information on a single screen. This
holistic intelligence was generated through 40 mashups
based on on-demand fetches. Max Teams could quickly
create layouts that included 1500 fields demographics,
transactions, interaction, payments etc.
Customer Servicing
CRMNEXT enabled Max Life with a holistic servicing
3600
and clubbed nearly 200 request types under
10 processes through more than 40 straight through
processing work flows. This resulted in significant increase
in First Call Resolution (FCR) rate of above 90%. Guided
form filing through auto population and the availability
of more than 300 different communication templates
ensured that executives need minimum data entry.
Endto- End Dispatch tracking and workflow movements
associated with Dispatch status improved accountability.
Gaining Agility With Next
Generation Operating Model