Max Life Insurance fortifies partnership with Royal Challengers Bangalore for 14th edition of the Indian Premier League; becomes team's official life insurance partner for the third consecutive year
New Delhi/Bengaluru, 06 April, 2021: Max Life Insurance Company Ltd. ("Max Life" / "Company") today announced its partnership with Royal Challengers Bangalore (RCB) for the upcoming season of the Indian Premier League (IPL) 2021. Fortifying the partnership for the third consecutive year, Max Life will serve as the official life insurance partner of the Royal Challengers Bangalore (RCB) with a logo presence on the non-leading trouser leg. The latest edition of the Indian Premier League is scheduled to begin in Chennai from 9th April, 2021.
Through the means of this partnership, Max Life Insurance seeks not only to motivate the RCB cricketers to play with 'Protection on the Front Foot' but also encourage its larger fan base to protect themselves with term life insurance financially. The association reinforces the Company's belief 'You Are the Difference' which reaffirms that as an individual, it is 'You' who brings a difference to the lives of your loved ones and must therefore secure their financial well-being by investing in a robust term life insurance plan.
Remarking on the partnership, Aalok Bhan, Director and Chief Marketing Officer, Max Life, said, "It's true that consumer sentiments remained largely affected due to Covid -19, but with the nation binding event that cricket and especially Indian Premier League is, one can look forward to a positive spin. We are thrilled to partner with Royal Challengers Bangalore for the third consecutive year as their official life insurance partner. Through the means of this partnership, we aim to reach out to the team's diverse and dynamic audience base with the message that they are the difference in the lives of their loved ones. Also, in these financially challenging times brought by the pandemic, it remains crucial to consider life insurance for securing one's financial future, especially with term insurance plans, that offer income benefits, at the time that it is needed the most."
As per Max Life's recent India Protection Quotient 3.0 survey conducted in partnership with Kantar, it was found that during COVID-19, only 57% urban Indian millennials feel financially secure under current circumstances. The survey also revealed that only 28% millennials owned term insurance in the backdrop of COVID-19. Given the uncertainties around us, it is important to consider a term insurance to ensure comprehensive financial protection for loved ones.
Commenting on the partnership, Rajesh V Menon, Vice President & Head of Royal Challengers Bangalore, said, "We are pleased to associate with Max Life Insurance as our official life insurance partner for the third year in a row. Our partnership gives us the opportunity to create awareness about financial protection and its importance in life. While the protection of players on the field is taken care of in many
ways, it is imperative to gear up well in life too, by calculating risks and leading with financial protection. Thus, becoming a very meaningful proposition to engage with our fans."
About Max Life Insurance (www.maxlifeinsurance.com)
Max Life Insurance Co. Ltd. ("Max Life") is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a part of the Max group, an Indian multi business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance group.
Max Life offers comprehensive protection and long-Term savings life insurance solutions, through its multichannel distribution including agency and third distribution partners. Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.
As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on March 31st 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore. For more information, please visit the Company's website at www.maxlifeinsurance.com.
About Royal Challengers Bangalore: The Royal Challengers Bangalore (RCB) is owned by Royal Challengers Sports Private Limited, a subsidiary of Diageo India. The Royal Challengers Bangalore (often abbreviated as RCB) are a franchise cricket team based in Bangalore, Karnataka, that plays in the Indian Premier League (IPL). One of the original eight teams, the team has made three final appearances in the IPL (in 2009 to the Deccan Chargers, in 2011 to the Chennai Super Kings and in 2016 to the Sunrisers Hyderabad) for which they finished runners-up in all. It is one of the most followed and loved T-20 teams and has tremendous international star power. Download RCB Mobile Application to know more. ***