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Max Life Insurance Introduces 'mSmart' with Vymo to Enhance its Agency Distribution Channel

CIO Insider Team | Wednesday, 6 October, 2021
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Max Life Insurance Co. Ltd., announced the debut of mSmart, a mobile application for digital monitoring of its agency distribution channel, in collaboration with Vymo, the leading sales acceleration platform for financial institutions.

The partnership is the latest digital transformation effort conducted by the San Francisco-based startup, which aims to serve managers and business leaders through its monitoring and relationship management platform in the fast-growing financial industry and fintech market.

Max Life Insurance Company Limited is a joint venture between Axis Bank Limited and Max Financial Services Limited. Max Financial Services Ltd. is a subsidiary of the Max Group, an Indian corporation.

Max Life's multi-channel distribution, which includes agency and third-party distribution partners, provides complete protection and long-term savings life insurance solutions. Max Life has grown its business over nearly two decades by using a need-based sales strategy, a customer-centric approach to engagement and service delivery, and well-trained personnel.

On the other hand, Vymo is the Sales Acceleration Platform of choice for leading Financial Institutions around the world, trusted by over 200,000 salespeople across 60+ global enterprises such as Berkshire Hathaway, Aflac, AIA, FE Credit, Generali, AXA, Sunlife, and HDFC Bank, and is recognised by Gartner as a Cool Vendor. Through mobility, insights, and industry playbooks, the platform solves for team members, sales managers, and company leaders.

V. Viswanand, Max Life's Deputy Managing Director, states "the launch of'mSmart' will assist improve our agency governance and provide high levels of agility and efficiency to monitoring operations, in keeping with our aim to become a digital-first insurer. We're thrilled to be partnering with Vymo and look forward to sharing this adventure with them”.

Over 5,000 Max Life Office Heads and Agency Development Managers will be able to successfully manage their day-to-day activities and business planning with streamlined sales governance and focused engagement matrices, thanks to Vymo's mobile-first application.

mSmart leverages robust mobile capabilities and nudge intelligence to deliver value for users in Max Life's existing business operations. The mobile application captures sales and interaction activities automatically, eliminating the requirement for users to manually update their records system every day. Managers will have real-time visibility into the performance of their teams thanks to the platform.

Max Life may also use intelligent dashboards to discover certain engagement habits that may affect sales performance. Overall, these new services will boost sales productivity and give sales teams the ability to link sales support activities to revenue results.

Rajesh Sabhlok, Managing Director for Asia Pacific, Vymo adds, "we are excited to welcome the Max Life team into our growing network of Digital Leaders. In today's digital environment, applications have become extremely intuitive and dependable. The majority of the insurance workforce, on the other hand, continues to rely on outdated technologies to build their businesses. The Max Life agency team will have access to modern-day technologies as a result of this strengthened cooperation, resulting in predictable business outcomes”.

Vymo has collaborated with some of India's most prestigious financial institutions to help them maintain vital customer and partner relationships while working remotely. With operations in the United States, Japan, Singapore, India, Vietnam, Thailand, and Indonesia, it is now one of Southeast Asia's fastest-growing enterprise Software-as-a-Service (SaaS) firms.

V. Viswanand, Max Life's Deputy Managing Director, states "the launch of'mSmart' will assist improve our agency governance and provide high levels of agility and efficiency to monitoring operations, in keeping with our aim to become a digital-first insurer. We're thrilled to be partnering with Vymo and look forward to sharing this adventure with them”.

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