Max Life Insurance Appoints Sumit Madan as Chief Distribution Officer

Feb 06, 2024: Max Life Insurance Company Ltd. (“Max Life”) has announced the appointment of Sumit Madan as Senior Director and Chief Distribution Officer. In his new role, Sumit will be instrumental in driving the company’s business growth and expansion strategies across various distribution networks, including bancassurance, agency, and proprietary channels.

Prashant Tripathy, CEO & Managing Director of Max Life, expressed his confidence in Sumit’s appointment, stating, “Sumit is a seasoned leader with a proven track record of success in the BFSI space. With his diverse expertise across India’s financial landscape, I am confident that his strategic vision will help broaden Max Life’s distribution footprint, further enhancing the accessibility of insurance and savings solutions across India.”

Sumit Madan shared his excitement about joining Max Life Insurance, stating, “I am thrilled to join Max Life Insurance as they embark on the next chapter of growth and innovation. Max Life’s value of customer obsession resonates strongly with my values and professional philosophy. In this new role, I look forward to achieving new milestones and contributing to the company’s robust growth in the coming years.”

With over two decades of experience in Sales, Retail Liabilities, and Branch Banking, Sumit Madan brings a wealth of knowledge to his new position at Max Life. Prior to joining Max Life, Sumit served as the head of Products, Digital, and Retail Liabilities at IDFC First Bank, where he played a pivotal role in driving performance growth across key banking metrics. He also held the position of President & Chief (Branch Banking) at AU Small Finance Bank, where he led a team of over 4000 professionals in sales, service, operations, and data analytics, making significant contributions to the bank’s success.