Max New York Life Insurance has entered into a tie-up with Indian Oil Corporation, which will make available its around 2,000 Kisan Seva Kendras across India for the sale of Max's insurance products.
Max New York Life will start by setting up offices at 100 such Indian Oil’s Kisan Seva Kendras across Punjab, Haryana, Gujarat and western Uttar Pradesh. Eventually, this model will be extended to other Kisan Sewa Kandras also across India.
Suresh Kumar, general manager of retail sales at Indian Oil Corporation, said: Given the reach of Indian Oil’s Kisan Seva Kendras into India’s hinterland, Max New York Life will have complete access to the rural markets, for reaching insurance products to them. This tie-up would also enable Kisan Sewa Kendras to move up the value chain by making life insurance available to the rural consumers.