IBM to provide technology backbone for Max Vijay

BANGALORE, INDIA: IBM and Max New York Life Insurance Company Limited today announced the rollout of an integrated solution for policy issuance and administration for Max Vijay, a business initiative introduced by Max New York life insurance.

This is part of a ten-year agreement signed between IBM and Max New York Life Insurance in December 2007.

It provides an end-to-end technology backbone for Max Vijay, an insurance product designed specifically for the under-served segment of the Indian society, said a press release.

The company has planned to extend services in insurance policy system administration, policy setup, new business processing, customer care and claims processing.

Analjit Singh, chairman, Max New York Life Insurance Company Ltd, said, "Max Vijay empowers millions of Indians, who may not be a part of the economic growth scenario that the country is witnessing today, to participate in the revolution and realize their dreams."

"IBM has deep global experience in business transformation and innovation in the insurance sector. We will tap these skills and knowledge to help Max New York Life Insurance set new benchmarks for customer experience, create new avenues for business growth and address a largely under-served rural and semi-urban market for life insurance," said Shanker Annaswamy, managing director, IBM India Pvt Ltd.

"This initiative reinforces IBM’s position as a leading and strategic partner for Indian enterprises," he added.