Axis Max Life Insurance

Type	Joint venture
Industry	Financial services
Founded	2001; 25 years ago (2001)
Headquarters	New Delhi, India
Key people	Mr Sumit Madan (Managing Director & Chief Executive Officer) , Mr Amrit Singh (Director and Chief Financial Officer) , Mr Anurag Chauhan (General Counsel and Company Secretary)
Products	Life insurance Term life insurance Unit-linked insurance plan Endowment policy Money-back policy Whole life insurance Retirement plans
Owner	Max Financial Services (80%) Axis Bank (20%)[1]
Website	www.axismaxlife.com
Footnotes [2][3]

Axis Max Life Insurance Limited (formerly known as Max New York Life Insurance Company Limited and Max Life Insurance Company Limited) is an Indian life insurance company headquartered at Gurugram. It is an 80:20 joint venture between Max Financial Services and Axis Bank. The company is a subsidiary of the publicly listed Max Financial Services. It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001.

As of August 2026, the firm has recorded a consolidated revenue (excluding investment income) at Rs. 7289 crores, growing 18% year-on-year in FY27 ^[4]. The business growth has been recorded at 17%, reaching Rs. 1810 crores ^[5]. The Value of New businesses (or VNB) has increased by 33% during this quarter ^[6].

History

Max Life Insurance started as a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Group. The former owned 68% of the company while the latter owned 26%.^[7] After forming the joint venture partnership with Mitsui Sumitomo, Max Life changed its name from Max New York Life in 2012. In February 2016, Axis Bank held a 6% share in Max Life.^[8] On 13 December 2024, Max Life Insurance rebranded itself to Axis Max Life Insurance.^[9]

As of March 2026, the firm placed its app at the centre of customer conversations with a new campaign ^[10]. The Axis Max life app brings in insurance and wellness services into a single platform. This is intended to make customer journeys more seamless, informative, and holistic ^[11].

In June 2026, CTO of the firm, Mr. Mukul Jain opined that the challenge of integrating AI within the insurance sector, but about reimagining the sector in itself ^[12]. This reimagination places insurance as an intelligent, powered by cloud, data, AI and recently, agentic AI ^[13]. Just like the previous technical interventions, AI will also be used to aid business outcomes for the firm ^[14]. During this time period, Axis bank increased their stake in Axis Max Life Insurance to 19.9%. This also has around Rs. 380 crore as an investment amount ^[15].

In August 2026, the firm introduced newer schemes for people who are moving towards retirement. The move is to encourage Indians to see their retirement as a launchpad for the dreams that they had to defer, and not as an end to their professional journey ^[16]. The campaign is posed as a 'second innings', pushing customers to go beyond financial security and pursue their dreams ^[17]. The campaign was headed by Rohit Sharma and Ritika Sajdeh ^[18].

Operations

Partnerships and Alliances

In November 2025, Axis Max Life Insurance and IFC (International Finance Cooperation) have announced a strategic partnership ^[26]. An investment of Rs. 285 crores were made through subordinate instruments to support the firm's solvency margin and power its expansion in the life insurance sector. The main objective of this partnership is financial inclusion, and to make insurance more accessible to the underprivileged ^[27].

In July 2026, Axis Max Life Insurance partnered with Greylabs AI to boost the sales conversions by 15% ^[28]. Through this partnership, the main motive is to use its voice AI suite. This ensures that the insurer analyses 100% of meaningful customer conversations and impact sales effectiveness ^[29]. Along with improving sales conversions, they also helped with customer intelligence, agent performance and product development ^[30]. The deployment means a lot to the financial activities of the firm; instead of relying on selective call reviews, the insurer can use AI to analyse more than 6 lakh customer conversations ^[31]. This would cover around 1.4 crore minutes of call time across 700+ call agents ^[32].

Awards

• In August 2026, the firm was awarded POSH Pioneer Award at the 4th National Prevention of Sexual Harassment (POSH) Conclave & Excellence Awards 2026 organised by NoMeansNo Foundation. This recognised the commitment of the firm towards fostering a safe, equitable and inclusive workplace ^[33].
• In July 2026, the firm was awarded India's Best Bancassurance Partnership recognition at the Insurance Asia News Country Awards Excellence. The same highlights the long standing partnership between the firm and Axis Bank ^[34].

References

External links

• Official website