Max New York Life Insurance Company (MNYL) is planning to reach out to the uninsured population through the unorganized kirana shops to sell its recently launched insurance cum saving plan — Max Vijay.
The insurer is implementing a pilot project in Uttar Pradesh covering 30 districts and 100 retailers including grocery shops and other mini-retail outlets and plans to implement it across the country next year.
It has entered into a tie-up with distributors in each district who will choose these retail outlets.
Training will be imparted to the entire distributor’s sales person and the shopkeeper who are certified and qualified according to the regulator’s norms and will work like a referral model.
The company has also entered into a tie-up with Pearless General Finance and Investment Company to market the scheme.
The company aims to attain a premium of Rs 300 crore in the first year over the next 2-3 years by selling Max Vijay.