India’s Largest Private Life Insurer Doubles Cloud Space with AWS, Creates Seamless Customer Experience Including 30-Minute Policy Issuance
Today, Amazon Web Services (AWS), an Amazon.com company, announced that Max Life Insurance Co. Ltd. (Max Life) has selected AWS as its cloud provider to become a digital life insurance company. Using the breadth and depth of AWS Cloud capabilities, including data storage, computing, and analytics, Max Life automated the issuance of new insurance policies, enabling customers to purchase insurance in as little as 30 minutes. minutes. Max Life’s digital transformation has positively affected customer loyalty and agent productivity. Agent productivity has increased by 40%. In addition, the growth of Max Life’s cloud footprint from 18% to 40% has helped improve the resiliency of the company’s infrastructure, which can now easily withstand business spikes, such as during new insurance product launches. . With AWS, Max Life customers get a faster and more seamless insurance experience with digital services like online premium payment options.
Indian customers are increasingly interacting with businesses through digital channels and are expecting faster and more personalized services, such as automated claims and disbursements. To meet this demand, Max Life uses AWS Lambda, a serverless computing service, and Amazon Elastic Compute Cloud (Amazon EC2), which provides secure, scalable compute capacity in the cloud, to automatically scale workflows to deliver better customer support during peak periods. Wearing Amazon Simple Storage Service (Amazon S3), an object storage service, Max Life has created a data lake that centrally stores structured and unstructured data for the enterprise at scale. This lake helps Max Life better research and develop new customer services and increases operational efficiency, leading to better customer interactions. AWS Glue, a serverless data integration service, consolidates and analyzes anonymous customer data stored in the lake to give Max Life a 360-degree customer view to deliver personalized customer experiences, such as targeted coverage with premiums more low.
Manu Lavanya, Director and COO of Max Life, said: “The life insurance industry is undergoing a major digital transformation driven by the need for companies to be extremely agile and flexible. By adopting AWS, Max Life has created a modern, future-proof digital infrastructure to support this transformation. The advanced capabilities of the AWS Cloud and the agility of the cloud allow us to experiment and innovate at a rapid pace to deliver the best customer experiences.”
“Max Life is using AWS’s broad set of services to make insurance smarter and more customer-centric,” he said. Puneet Chandok, President of AWS India and South Asia Commercial Business, AISPL. “By automating the insurance process for customers, Max Life makes buying insurance simple and easy. With the scalability and agility of AWS, Max Life is bringing insurance to a new generation of innovative products and services to improve the lives of customers across India.”
About Amazon Internet Services Private Limited
Amazon Internet Services Private Limited (AISPL) handles the reselling and marketing of AWS cloud services in India.
About Amazon Web Services
For more than 15 years, Amazon Web Services has been the world’s most comprehensive and widely adopted cloud offering. AWS has been continually expanding its services to support virtually any workload in the cloud and now has more than 200 comprehensive services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media and application development, deployment and management from 84 Availability Zones within 26 geographic regions, with announced plans for 24 Availability Zones more and eight more AWS Regions in Australia, Canada, India, Israel, New Zealand, Spain, Switzerland, and the United Arab Emirates. Millions of customers, including the fastest growing startups, the largest enterprises, and leading government agencies, trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.