New
Delhi, March 24, 2026 : Axis Max Life Insurance Limited,
formerly known as Max Life Insurance Company Limited (“Axis Max Life”/
“Company”) and YES BANK Limited (“YES BANK”), are celebrating
the 21st anniversary of their strategic bancassurance partnership. To
commemorate more than two decades of synergy, both institutions reaffirmed
their commitment to delivering a next-generation customer experience driven by
digital-first delivery and hyper-personalized protection solutions.
Over
the past twenty-one years, this collaboration has evolved into one of the
industry’s most successful ecosystems. Leveraging YES BANK’s pan-India network
of over 1,300 branches, the partnership has secured the futures of
approximately 18.03 lakh policyholders, providing a cumulative Sum
Assured exceeding Rs. 1.50 lakh crores.
The
alliance has been a pioneer in integrating new-age technologies to simplify the
insurance journey. From children education and retirement planning to wealth
creation and term protection, the partnership offers a suite of
digitally-enabled solutions, including:
●
Video Marketing & Consultations:
Human-centric digital interactions for complex financial planning.
●
Agile Underwriting:
Data-driven processes that bring speed to the customer onboarding journey.
Sumit
Madan, Managing Director and Chief Executive Officer, Axis Max Life,
said, “Our 21-year’ partnership with YES BANK underscores a shared
commitment to customer-first growth. We have protected more than 18 lakh
families by leveraging Axis Max Life’s protection expertise with YES BANK’s
expansive distribution engine. We are committed to protecting lives across
every consumer cohort, leveraging AI and seamless digital integration to ensure
that financial security is a frictionless, enriching experience for every
citizen, regardless of geography.”
Prashant
Kumar, Managing Director & Chief Executive Officer, YES BANK,
said, “Our 21-year partnership with Axis Max Life stands as a testament to what
strategic alignment and persistent innovation can achieve. This partnership
signifies our ability to seamlessly integrate insurance into our customers'
banking journeys through YES BANK's digital infrastructure and extensive branch
network. As we scale this partnership further, our constant endeavour will be
to democratize quality insurance in India's underserved markets. We believe
this alliance will be instrumental in advancing the national vision of
‘Insurance for All by 2047’.”
As
the partnership enters its third decade, the focus shifts toward a larger
national mission. By bridging the protection gap in Tier 3 and Tier 4 towns,
the alliance is prioritizing financial inclusion for MSMEs and the ‘Bottom of
the Pyramid’.
Both
the organizations are committed to supporting IRDAI’s nationwide initiative
under its vision of “Insurance for All by 2047”, viewing financial protection
not merely as a secondary service, but as a fundamental enabler for India’s
rising entrepreneurs and rural households. Together, Axis Max Life and YES BANK
remain committed to bringing the shield of protection to every Indian doorstep,
fostering a resilient and "Atmanirbhar" Bharat.
About Axis Max Life Insurance Limited
(https://www.axismaxlife.com)
Axis
Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd.,
is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis
Bank Limited. Axis Max Life offers comprehensive protection and long-term
savings life insurance solutions through its multi-channel distribution,
including agency and third-party distribution partners. It has built its
operations over two decades through a need-based sales process, a customer-centric
approach to engagement and service delivery and trained human capital. As per
annual audited financials for FY2024-25, Axis Max Life has achieved a gross
written premium of INR 33,223 Cr.
IRDAI
Registration. No – 104
Company
Information Number - U74899HR2000PLC143012
About
YES BANK:
YES
BANK is one of the leading new generation private
sector banks in India, headquartered in Mumbai. The Bank offers a wide range of
banking services such as Corporate & Institutional Banking, Retail Banking,
MSME, Transaction Banking and Treasury. The BANK has over 1300 branches, 200+
Business Correspondent Banking Outlets (BCBOs) and more than 1350 ATMs
(including CRMs and BNAs) spanning across 300 districts of India. YES BANK
operates an International Banking Unit (IBU) at GIFT City and also has a
Representative Office in Abu Dhabi, strengthening its cross-border
capabilities. YES Securities, the wholly owned subsidiary of the BANK
provides a wide range of broking and investment products to Retail, HNI, and
Institutional clients. YES Foundation, the CSR arm of YES BANK drives
social impact agenda across areas such as livelihoods, education, skilling,
sustainability and community development, reinforcing its commitment to
responsible and inclusive banking.
For
more information, please visit the Bank’s website at https://www.yes.bank.in/