Max Financial Services Limited · NSE:MFSL
Max Financial Services — Investor Presentation (March 2021)
22 slides from Max Financial Services's investor presentation, Mar 25, 2021
Slide 1: Digital First MaxLife 2021
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Slide 2: Speaker Introduction
Speaker Introduction mv( LIFE INSURANCE Mr. Manu Lavanya Mr. Suhail Ghai COO, Max Life Insurance CTO, Max Life Insurance Mr. Manu Lavanya has more than two and a half Mr. Suhail Ghai has been with Maxlife for 2 decades of experience in creating, transforming years. He has around 2 decades of experie
Slide 3: Disruption Due to COVID Has Challenged Status Quo of Insurance Practices
Disruption Due to COVID 19 has Challenged Status Quo of Insurance Practices 6LIFEINSURANCE 1. Dependence on ‘physical 3. Default to ‘face-to-face interactions’ infrastructure’ for for: • Customer sales / servicing touchpoints (e.g., • • • New business sales branch) • Customer servicing • Daily busin
Slide 4: New Normal has Emerged & is Bringing Long-Lasting Shifts in Consumer Behaviour
MAX New Normal has Emerged & is Bringing Long-Lasting Shifts in Consumer Behaviour LIFE INSURANCE Customer ‘digital maturity’ seeing a step change [40% increase in time spent on news and social networking apps1] Total time spent per user on smartphones went up by 6.2% to 25 hours a week Distributors
Slide 5: Leading Digital Insurer in India
Leading Digital Insurer in India AmAx LIFE INSURANCE 48% 49 Automated Underwriting NPS for purchase Text ~50 50+ FRICTIONLESS Claims paid everyday DIGITAL NATIVE CUSTOMER Partners TALENT ONBOARDING 3 seconds 30% 6L Infra on Cloud Page load time DIGITAL Text DIGITAL SALES Policies SELF-SERVE Text Iss
Slide 6: Our Digital Strategy is Based on Key Pillars
Our Digital Strategy is Based on 8 Key Pillars AMAX LitT INSURANCE • 1 Scale E-Commerce Business • 2 Onboarding/Issuance • 3 Digital Sales e 4 Customer Service ▪ Digital Marketing Muscle ▪ Digital Native Onboarding ▪ Intelligent & Integrated LEAD ▪ Help Center for self service platforms – SEO manage
Slide 7: Max Life Leader in E-Commerce Protection Sales
Max Life Leader in E-Commerce Protection Sales… Sharper Prospecting Personalization Growth and Awards Chase VALUE not Traffic Never Ask Again % of customers through ecommerce (Website + Aggregators) E ▪ Advertising Optimization signals based on ▪ 8x growth over 4 years Customer Lifetime Value ▪ Won
Slide 8: Enabled by Best-in-Class On-boarding Platform
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Slide 9: On-boarding Platform Capability Overview
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Slide 10: State of Art Mobile First Platform for Need Based Analysis and Solicitation
State of Art Mobile First Platform for Need Based Analysis and Solicitation CUSTOMERniQuote II L (4 mAx ,+,LIFE N RA 1 a • INSURANCE 1 :„ moots 11:48 11:51 Quote r dkl Agency AP ••• MAX Dashboard act ' I'M -11 Search Insured Details < Savings Advantage Plan output Page MobileThlarne/Location/Campaig
Slide 11: Industry first Digital ecosystem to drive agent Recruitment agenda at scale
Industry first Digital ecosystem to drive agent Recruitment agenda at scale REC it L (A I mAx LIFE a • INSURANCE .:4 N 12/ 1. t MAX t 4i x -.4-ja REC I MREC 1.11 REC -11;V C M REC Anuj Sachdeva's Documentation Office View Bucket View Search by Mobile. Lead Na me Hi, Mr. Abhishek Chauhan What would y
Slide 12: Empowering seller through Digital Identity & Training
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Slide 13: Information availability on the GO
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Slide 14: Omni-channel Customer Servicing Experience
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Slide 15: Leveraging Digital & AI to augment employee experience and productivity
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Slide 16: Applied cognitive AI technology
AI smarts delivering intelligence to enhance customer experiences and risk selection Business First Integrated AI integration across Max Life AI Machine Learning New Business Purchase & Issuance Servicing & Retention & Deep Learning Applied cognitive AI technology C-360 Proactive Customer Engagement
Slide 17: Aggressively modernising our core and data foundations leveraging cloud
We are aggressively modernising our core and data foundations leveraging cloud Ij L (A mAx Now. LitT a • INSURANCE • • • • Cloud Data & Analytics Platform Cloud Foundation Legacy Modernization ~30% 01 n'30% Q1 ▪• Data Lake Foundation & •• Lift & Shift and •• Treasury, HR, Contact Customer 360 Transf
Slide 18: 40% of the Digital & Tech team have specialized Niche skills
We have built specific competence in New Age Technology skills through dedicated CoEs 9) fAl mAx INSURANCE 40% of the Digital & Tech team have specialized Niche skills r .41% .•P•.111t o • •r • a ; a . r . . lei 0- . • . 1 . ■ • 1.-...N1 ib...0 -'' . . .1' ..! • . a e ■ a 4) : • . . .• a a ti lig 11
Slide 19: We have built a Digital Culture which promotes Agility & Innovation
We have built a Digital Culture which promotes Agility & Innovation mAx 6 LifE INSURANCE Dedicated Digital Centre of Excellence to Drive innovation / Digitization @ Accelerated Pace I ii1111111411111, cisHenr it, I Co-Located Digital Teams (300 strong) Agile Work Process -mama I I. ME Fr Agile imple
Slide 20: Build Digital Muscle through Innovation
Build Digital Muscle through Innovation PARTNERS USECASES SHORTLISTED FOR POC PARTNER POC OUTCOME Speech Recognition Success. Under scale-up phase for E-comm Smart Underwriting Smart hiring / training of Agents / Sales force Partial Success. 2nd Pilot underway Document Parsing Health & Wellness In-p
Slide 21: Our Vision of Being a Digital First Life Insurance Company
Our Vision of Being a Digital First Life Insurance Company Addressing demand of new Experience Centric Onboarding Intuitive On Demand, Self Digital Enterprise that inspires Customers as close to Place & with Customer specific Risk Service shifts focus to Building Millennial workforce and is Time of
Slide 22: Success measures of our vision (2-3 Years)
Success measures of our vision (2-3 Years) Key Digital Initiatives Customer Distribution Employee Selling Recruitment, Onboarding and Skilling Productivity Tools <3 Sec 15% Page Load Time Session to quote 10% 99% 90% 80% (New Age Common Improvement in Agent / ADM Digital Training Certification Colla
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