• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

Mr Jaydev Patel, who has sold life insurance policies worth over Rs 6,750 crore for New York Life and consistently ranked as one of the most successful insurance agent, has been a member of the Million Dollar Round Table for 30 consecutive years.

AHMEDABAD, March 14

MAX New York Life on Friday announced expansion of its operations to Vadodara by tying up with Mr Jaydev Patel, one of New York Life's most successful insurance agents in the US with a portfolio of $1.5 billion, to launch its latest operations using the corporate agency model.

Announcing the tie-up, Mr Anuroop Tony Singh, CEO and Managing Director, Max New York Life (MNYL), said the company was excited about exploring the new avenue of distribution with Mr Patel.

"Agency force is one of MNYL's great strengths and it is our endeavour to reach out to large sections of India's insurable population. We believe this partnership will harness the combined strengths of the two partners — Mr Patel's long-standing association with New York Life and MNYL's agency and training strengths. Together it will enable us to sell the true value of life insurance."

Mr Patel, who has sold life insurance policies worth over Rs 6,750 crore for New York Life and consistently ranked as one of the most successful insurance agent, has been a member of the Million Dollar Round Table (MDRT) for 30 consecutive years. The MDRT comprises top sales professionals from more than 60 nations and some 450 companies who are recognised for their skill, ethics and success in the life insurance-based financial services business.

Talking about the partnership with Max New York Life, Mr Patel said, "Being an Indian, I realise the vast untapped potential of the Indian market and my global experience gives me an opportunity to serve the people of my own city. At New York Life over the years I have been able to reach out to thousands of people to sell them the very best life insurance products and services. Now it is time for me to do the same here in India with Max New York Life."

Till date, MNYL has sold nearly 1.2 lakh individual policies, recorded a sum assured of over Rs 4,400 crore and garnered total revenues in excess of Rs 134 crore.

The company has also expanded its operations to 17 offices across 11 cities.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Turnover, buyer-wise policies soon from ECGC

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line