Latest news with #PrashantTripathy
Business Standard
2 days ago
- Business
- Business Standard
Widening Gender Gap in India's Financial Protection Levels - Axis Max Life India Protection Quotient 7.0
NewsVoir New Delhi [India], June 19: Axis Max Life Insurance Ltd. ("Axis Max Life"/ "Company"), formerly known as Max Life Insurance Company Ltd, in partnership with KANTAR, the world's leading marketing data and analytics company, has released gender-specific findings from the seventh edition of its India Protection Quotient (IPQ) study. Under the Company's 'Bharosa Talks' initiative, IPQ 7.0 highlights a widening gap in financial preparedness between working men and women in urban India. According to the study, working men's Protection Quotient score rose to 50 (from 47 in IPQ 6.0), while working women's score remained stagnant at 48 indicating a break in last year's parity. Despite urban India's overall improvement in financial protection, working women continue to face unique anxieties across key life milestones such as retirement planning, children's education, and marriage. Additionally, women expressed higher levels of concern around inflation, medical emergencies, and loss of a breadwinner, further amplifying the need for gender-responsive financial planning and support frameworks. Prashant Tripathy, CEO & Managing Director, Axis Max Life, said, "As India progresses on its journey toward financial security, it is vital that we recognise the varied realities shaping people's protection needs. The IPQ 7.0 findings reveal that working women continue to face structural and emotional barriers to financial preparedness. This calls for not only greater awareness, but also collective effort across the industry to make protection more inclusive, accessible, and aligned to the evolving fabric of Indian society." Implications & Path Forward The study underscores the need to embed gender-sensitivity across insurance design, advisory models, and education programs. From savings-led planning tools to customised advisory support, the industry must act with urgency to ensure India's women feel secure, seen, and protected. Instituted in 2019, India Protection Quotient is an annual Survey by Axis Max Life Insurance in association with Kantar aimed to understand the pulse of the Indian consumers in the financial protection space. Launched with the underlying objective to increase penetration of Term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of Urban Indians with regards to current financial security levels, changing savings & investment patterns, key anxieties & triggers of financial protection in a contemporary world. India Protection Quotient is a proprietary tool developed by Axis Max Life in partnership with Kantar to gauges the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on the attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (Term, endowment and ULIP). The information collected through this survey and the results published are intended for general guidance and informational purposes only. Axis Max Life disclaims any liability for any loss, damage, or decisions arising from the use of this survey or the results provided. Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. For more information: Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.
The Wire
2 days ago
- Business
- The Wire
Widening Gender Gap in India's Financial Protection Levels - Axis Max Life India Protection Quotient 7.0
New Delhi, Delhi, India (NewsVoir) Key Findings: • Working women's Protection Quotient score remains at 48; working men's rises to 50 • Women feel less financially secure across life goals like retirement, education, and marriage • Higher concern among women about inflation, healthcare costs, and loss of a breadwinner Axis Max Life Insurance Ltd. ('Axis Max Life'/ 'Company'), formerly known as Max Life Insurance Company Ltd, in partnership with KANTAR, the world's leading marketing data and analytics company, has released gender-specific findings from the seventh edition of its India Protection Quotient (IPQ) study. Under the Company's 'Bharosa Talks' initiative, IPQ 7.0 highlights a widening gap in financial preparedness between working men and women in urban India. According to the study, working men's Protection Quotient score rose to 50 (from 47 in IPQ 6.0), while working women's score remained stagnant at 48 indicating a break in last year's parity. Despite urban India's overall improvement in financial protection, working women continue to face unique anxieties across key life milestones such as retirement planning, children's education, and marriage. Additionally, women expressed higher levels of concern around inflation, medical emergencies, and loss of a breadwinner, further amplifying the need for gender-responsive financial planning and support frameworks. Prashant Tripathy, CEO & Managing Director, Axis Max Life, said, 'As India progresses on its journey toward financial security, it is vital that we recognise the varied realities shaping people's protection needs. The IPQ 7.0 findings reveal that working women continue to face structural and emotional barriers to financial preparedness. This calls for not only greater awareness, but also collective effort across the industry to make protection more inclusive, accessible, and aligned to the evolving fabric of Indian society.' Implications & Path Forward The study underscores the need to embed gender-sensitivity across insurance design, advisory models, and education programs. From savings-led planning tools to customised advisory support, the industry must act with urgency to ensure India's women feel secure, seen, and protected. About India Protection Quotient Instituted in 2019, India Protection Quotient is an annual Survey by Axis Max Life Insurance in association with Kantar aimed to understand the pulse of the Indian consumers in the financial protection space. Launched with the underlying objective to increase penetration of Term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of Urban Indians with regards to current financial security levels, changing savings & investment patterns, key anxieties & triggers of financial protection in a contemporary world. India Protection Quotient is a proprietary tool developed by Axis Max Life in partnership with Kantar to gauges the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on the attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (Term, endowment and ULIP). Read more at - Disclaimer: The study is conducted in top 25 Urban metro, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities of Urban India only. • Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mumbai • Tier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, Pune • Tier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, Tiruchirappalli • IPQ 7.0 vs IPQ 6.0 data comparison is amongst 25 markets only [6 metros, 9 Tier 1 and 10 Tier] • The minimum sample to conclude any findings of the study is 270 with an error margin of -5.964 The information collected through this survey and the results published are intended for general guidance and informational purposes only. Axis Max Life disclaims any liability for any loss, damage, or decisions arising from the use of this survey or the results provided. About Axis Max Life Insurance Limited Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ('MFSL') and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. For more information: About Kantar Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
Fashion Value Chain
3 days ago
- Business
- Fashion Value Chain
Widening Gender Gap in India's Financial Protection Levels – Axis Max Life India Protection Quotient 7.0
Key Findings: Working women's Protection Quotient score remains at 48; working men's rises to 50 Women feel less financially secure across life goals like retirement, education, and marriage Higher concern among women about inflation, healthcare costs, and loss of a breadwinner Axis Max Life InsuranceLtd. ('Axis Max Life'/ 'Company'), formerly known as Max Life Insurance Company Ltd, in partnership with KANTAR, the world's leading marketing data and analytics company, has released gender-specific findings from the seventh edition of its India Protection Quotient (IPQ) study. Under the Company's 'Bharosa Talks' initiative, IPQ 7.0 highlights a widening gap in financial preparedness between working men and women in urban India. Widening Gender Gap in India's Financial Protection Levels – Axis Max Life India Protection Quotient 7.0 According to the study, working men's Protection Quotient score rose to 50 (from 47 in IPQ 6.0), while working women's score remained stagnant at 48 indicating a break in last year's parity. Despite urban India's overall improvement in financial protection, working women continue to face unique anxieties across key life milestones such as retirement planning, children's education, and marriage. Additionally, women expressed higher levels of concern around inflation, medical emergencies, and loss of a breadwinner, further amplifying the need for gender-responsive financial planning and support frameworks. Prashant Tripathy, CEO & Managing Director, Axis Max Life, said, 'As India progresses on its journey toward financial security, it is vital that we recognise the varied realities shaping people's protection needs. The IPQ 7.0 findings reveal that working women continue to face structural and emotional barriers to financial preparedness. This calls for not only greater awareness, but also collective effort across the industry to make protection more inclusive, accessible, and aligned to the evolving fabric of Indian society.' Implications & Path Forward The study underscores the need to embed gender-sensitivity across insurance design, advisory models, and education programs. From savings-led planning tools to customised advisory support, the industry must act with urgency to ensure India's women feel secure, seen, and protected. About India Protection Quotient Instituted in 2019, India Protection Quotient is an annual Survey by Axis Max Life Insurance in association with Kantar aimed to understand the pulse of the Indian consumers in the financial protection space. Launched with the underlying objective to increase penetration of Term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of Urban Indians with regards to current financial security levels, changing savings & investment patterns, key anxieties & triggers of financial protection in a contemporary world. India Protection Quotient is a proprietary tool developed by Axis Max Life in partnership with Kantar to gauges the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on the attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (Term, endowment and ULIP). Read more at – Disclaimer: The study is conducted in top 25 Urban metro, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities of Urban India only. Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mumbai Tier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, Pune Tier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, Tiruchirappalli IPQ 7.0 vs IPQ 6.0 data comparison is amongst 25 markets only [6 metros, 9 Tier 1 and 10 Tier] The minimum sample to conclude any findings of the study is 270 with an error margin of +-5.964 The information collected through this survey and the results published are intended for general guidance and informational purposes only. Axis Max Life disclaims any liability for any loss, damage, or decisions arising from the use of this survey or the results provided. About Axis Max Life Insurance Limited Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ('MFSL') and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. For more information: About Kantar Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.
Fashion Value Chain
5 days ago
- Business
- Fashion Value Chain
Indian LGBTQIA+ Community's Financial Protection Lags Despite High Intent – Axis Max Life India Protection Quotient 7.0
Key Findings: Protection Quotient score at 35-over 20 points below the digital urban average (56) Knowledge Index score at 61 vs. 74 for DSUI; term insurance ownership at 66% vs. 82% Financial security drops from 60 (IPQ 6.0) to 57 (IPQ 7.0) Growing concerns around breadwinner loss, medical costs, and budgeting strain Shift observed away from proactive saving and financial planning Axis Max Life InsuranceLtd. ('Axis Max Life'/ 'Company'), formerly known as Max Life Insurance Company Ltd, in partnership with KANTAR, the world's leading marketing data and analytics company, has released key insights from the seventh edition of its India Protection Quotient (IPQ) study, with a dedicated focus on the LGBTQIA+ community. As part of the Company's 'Bharosa Talks' platform, this year's study uncovers widening protection gaps that continue to affect identity-diverse segments. Indian LGBTQIA+ Community's Financial Protection Lags Despite High Intent – Axis Max Life India Protection Quotient 7.0 With a Protection Quotient score of 35, the LGBTQIA+ cohort lags significantly behind the digital urban average of 56. The community also reports a Knowledge Index score of 61 compared to 74 for Digitally Savvy Urban Indians (DSUI), indicating a noticeable gap in awareness. While 66% of respondents report owning a term insurance plan (vs. 82% among DSUI), the community has also seen a 3-point decline in perceived financial security-dropping from 60 in IPQ 6.0 to 57 in IPQ 7.0. This decline is accompanied by increasing concerns about medical expenses, loss of a breadwinner, and daily budgeting struggles. The data signals a shift away from proactive financial planning, calling attention to the urgent need for identity-sensitive financial literacy and inclusive insurance offerings. Prashant Tripathy, CEO & Managing Director, Axis Max Life, said, 'As India progresses on its journey toward financial security, it is vital that we recognise the varied realities shaping people's protection needs. The IPQ 7.0 findings reveal that segments like the LGBTQIA+ community continue to face structural and emotional barriers to financial preparedness. This calls for not only greater awareness, but also collective effort across the industry to make protection more inclusive, accessible, and aligned to the evolving fabric of Indian society.' Implications & Path Forward The findings highlight the need for inclusive financial education, flexible product design, and advisory ecosystems that serve identity-diverse segments. For the insurance industry, this data is a call to action to bridge structural gaps and bring equitable protection to every Indian, irrespective of their identity. About India Protection Quotient Instituted in 2019, India Protection Quotient is an annual Survey by Axis Max Life Insurance in association with Kantar aimed to understand the pulse of the Indian consumers in the financial protection space. Launched with the underlying objective to increase penetration of Term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of Urban Indians with regards to current financial security levels, changing savings & investment patterns, key anxieties & triggers of financial protection in a contemporary world. India Protection Quotient is a proprietary tool developed by Axis Max Life in partnership with Kantar to gauges the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on the attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (Term, endowment and ULIP). Read more at – Disclaimer: The study is conducted in top 25 Urban metro, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities of Urban India only. Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mumbai Tier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, Pune Tier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, Tiruchirappalli IPQ 7.0 vs IPQ 6.0 data comparison is amongst 25 markets only [6 metros, 9 Tier 1 and 10 Tier] The minimum sample to conclude any findings of the study is 270 with an error margin of +-5.964 The information collected through this survey and the results published are intended for general guidance and informational purposes only. Axis Max Life disclaims any liability for any loss, damage, or decisions arising from the use of this survey or the results provided. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ('MFSL') and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. About Kantar Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.
Business Standard
09-06-2025
- Business
- Business Standard
Axis Max Life Declares Rs2,135 Cr. Participating Bonus for FY25; Reaffirms Commitment to Long-Term Value Creation
VMPL New Delhi [India], June 9: Axis Max Life Insurance Ltd. formerly known as Max Life Insurance Company Ltd ("Axis Max Life"/ "Company"), has announced a Participating (PAR) bonus of Rs2,135 Crore for eligible policyholders for FY24-25. This marks the Company's 23rd consecutive annual bonus and takes the cumulative bonus declared over the past 23 years to Rs15,847 Crore*. The declared bonus will enhance the corpus of more than 21 lakh eligible PAR policyholders, beginning July 2025. Axis Max Life continues to drive long-term value through a disciplined investment strategy and prudent fund management--reflected in the PAR Fund** growing from Rs67,722 Cr. in FY24 to Rs74,119 Cr. in FY25, a CAGR of ~19% over the past decade. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, "This year's bonus declaration reflects our steady commitment to delivering sustained value for policyholders through prudent and disciplined fund management. In a volatile macro environment, our PAR Fund has continued to demonstrate resilience driven by strong asset quality and consistent performance. With enhanced bonus options and built-in liquidity, we're enabling customers to navigate their evolving financial priorities with confidence and flexibility." Axis Max Life operates one of the largest PAR Fund among Indian private life insurers and remains one of the few companies offering customers the flexibility to choose from multiple bonus options--Cash Bonus, Accumulated Bonus, Paid-Up Additions (PUA), and Premium Offset--along with liquidity through partial withdrawals of bonuses without affecting the Basic Sum Assured. The Axis Max Life PAR Fund has delivered consistent debt returns in the 7.4%-8.4% range over the last five years, backed by the steady performance of its debt assets. Axis Max Life continues to strengthen its PAR product portfolio through innovative offerings like the Smart Wealth Income Plan, Smart Wealth Advantage Growth Par Plan, Whole Life Super, Monthly Income Advantage Plan, and Savings Advantage Plan combining liquidity, protection, and retirement benefits--expanding its reach across customer segments seeking both growth and stability. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
