MAX NEW YORK NEW POLICY

Max New York Life to cut costs, consolidate operations


Private life insurer Max New York Life Insurance will focus on increasing operational efficiency and cutting costs this fiscal, while 
pushing health, pension and traditional policies, a top official said here on Wednesday.

"The focus this year will be on improving the efficiency of our agents and cutting costs by outsourcing non-core activities. We will also focus on pension, health and traditional insurance policies," Rajit Mehta, executive director and chief operating officer, told reporters.

Asked about the impact of last year's stock market crash on the company's policy sales, he said: "The per-policy size has reduced a bit but there is no increase in policy lapasation. Our policy persistency ratio is around 85 percent." 
VIJAY POPAT