Connect with us

Technology

Max Life achieves 99.51% Claims Paid Ratio in FY23; Surpasses 99% for the fourth consecutive year

Published

on

NEW DELHI, Feb. 29, 2024 /PRNewswire/ — Max Life Insurance Company Ltd. (‘Max Life’ / ‘Company’) has achieved its highest-ever individual Claims Paid Ratio of 99.51% in the financial year 2022–23, as per the Insurance Regulatory and Development Authority of India’s (IRDAI) Handbook on Indian Insurance Statistics 2022-23. Max Life has disbursed 19,563 death claims amounting to INR 1242 crore in the financial year 2022–23, reflected in the company’s new ‘India Ke Bharose Ka Number’*.

Surpassing the 99% Claims Paid Ratio for the fourth consecutive year, this progress underlines the ever-increasing customer trust for the brand at the most crucial juncture of the insurance relationship. To ensure superior claims processing, Max Life has been deploying predictive analytics-based underwriting models with robust fraud management controls. Max Life aims to process claims as rapidly as possible, with around 75% of non-early claims (claims made on policies older than three years) paid on the same day. Max Life uses intelligent systems to detect fraud, identify high-risk geographies, and assess the probability of false claims based on non-disclosure.

Max Life Insurance – Individual Death Claims Paid Ratio (%)

FY 2018-19

FY 2019-20

FY 2020-21

FY 2021-22

FY 2022-23

98.74%[1]

99.22%[2]

99.35%[3]

99.34%[4]

99.51%[5]

Prashant Tripathy, CEO & Managing Director, Max Life said, “Max Life has experienced substantial year-on-year growth in its individual claims paid ratio, achieving a noteworthy milestone in its claims journey. Our commitment to customer-centricity is evident in our strategic investments in technological interventions at every touchpoint, including the establishment of a resilient claims ecosystem. We remain dedicated to ongoing efforts to provide financial security to our customers during their times of need.”

The company has also been proactive in providing customers with swifter, frictionless services and a superior customer experience. This has enabled Max Life to build long-term trust, enhance customer satisfaction, and improve its Net Promoter Score (NPS). With digital investments in claims and underwriting over the last five years, Max Life has consistently improved its claims-paid ratio from 98.74% in FY’19 to 99.51% in FY’23.

[1] Basis IRDAI Annual Report 2018-19
[2] Basis IRDAI Annual Report 2019-20
[3] Basis IRDAI Annual Report 2020-21
[4] Basis IRDAI Annual Report 2021-22
[5] Source: IRDAI Handbook on Indian Insurance Statistics 2022-23
*Bharose Ka Number is Max Life’s Brand Campaign on the Claims Paid Ratio. Claims Paid Ratio is a ratio of the death claims paid against the number of death claims received in a Financial Year.

About Max Life Insurance

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of Max Group. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life 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 FY2022-23, Max Life has achieved a gross written premium of INR 25,342 Cr.

For more information, please visit the Company’s website at www.maxlifeinsurance.com

 

Logo: https://mma.prnewswire.com/media/1992948/4492032/Max_Life_Insurance_Logo.jpg

 

View original content:https://www.prnewswire.com/in/news-releases/max-life-achieves-99-51-claims-paid-ratio-in-fy23-surpasses-99-for-the-fourth-consecutive-year-302075550.html

Continue Reading

Technology

Kontron Launches Two New KBox F-Series Industrial Computers To Bring Greater Flexibility and Scalability to Industrial Edge Computing

Published

on

By

TAIPEI, Oct. 21, 2026 /PRNewswire/ — Kontron, a leading global provider of IoT/Embedded Computing Technology (ECT), expands its KBox F-Series with the KBox F-203-RPS and KBox F-204-RPS, two compact industrial computers designed to address diverse requirements in intelligent Industry 4.0, edge computing and industrial IoT applications.

Both systems are powered by 12th, 13th or 14th Gen Intel® Core™ i9/i7/i5/i3 S-Series socket-type processors with a TDP of up to 65 W and support up to 96 GB DDR5 memory, providing a scalable computing foundation for demanding industrial applications requiring flexible performance configuration and long-term deployment.

The KBox F-203-RPS offers two LAN configurations with either two or four GbE ports, allowing customers to select the connectivity level that best fits their applications. The dual-LAN configuration provides an efficient solution for general industrial computing, equipment control and edge applications, while the four-LAN configuration offers additional network connectivity for applications involving multiple devices or network segments, such as machine vision, industrial automation and IoT gateways.

For applications requiring greater system expandability, the KBox F-204-RPS provides one PCIe x16 or two PCIe x8 expansion slots, offering the flexibility to integrate graphics, networking, AI acceleration or other add-on cards according to specific application requirements. With support for up to four 2.5-inch SATA HDDs/SSDs, it also provides extensive storage scalability for data-intensive workloads. These capabilities make the KBox F-204-RPS particularly suitable for industrial edge computing, machine vision, video processing and applications requiring additional functionality or large local data storage.

Together, the KBox F-203-RPS and KBox F-204-RPS enable customers to select the configuration that best matches their requirements, from a slimmer, network-focused industrial computer to a highly expandable edge computing platform.

To learn more about KBox F-203-RPS and KBox F-204-RPS, refer to https://www.kontron.com/en/products/kbox-f-203-rps/p301099 and https://www.kontron.com/en/products/kbox-f-204-rps/p311867.

About Kontron

At Kontron, we champion IoT and Industry 4.0, by creating secure, state-of-the-art solutions that span hardware, software and services. Our approach speeds market entry, reduces the cost of ownership, and offers longevity, ensuring our role as your trusted partner in the integration of smart technologies. For more information, please visit www.kontron.com, dial +886-2-2799-2789 or email SalesAsia@kontron.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/kontron-launches-two-new-kbox-f-series-industrial-computers-to-bring-greater-flexibility-and-scalability-to-industrial-edge-computing-302909761.html

SOURCE Kontron

Continue Reading

Technology

Mouser Electronics Brings Smart Sensing Solutions to PSECE 2026

Published

on

By

MANILA, Philippines, Oct. 21, 2026 /PRNewswire/ — Mouser Electronics, Inc., the authorized global distributor with the newest electronic components and industrial automation products, announces its participation in the 21st Philippine Semiconductor and Electronics Convention and Exhibition (PSECE 2026) from October 26 to 28 at the SMX Convention Center Manila, Philippines. This event underscores Mouser’s commitment to supporting the region’s growing electronics design community with immediate access to cutting-edge technologies.

Visitors are invited to meet the Mouser team at Booth #110-111 to explore new products and practical design resources. The booth features a live demonstration of Würth Elektronik’s smart sensing and visual indication solutions, integrating environmental and motion sensing with programmable visual feedback and wireless connectivity. This interactive display illustrates how modern devices can detect physical conditions and translate them into clear, immediate visual data, addressing the critical need for reliable intelligence in connected systems.

“As we advance into an era of interconnected intelligence, Mouser remains committed to bridging the gap between cutting-edge components and real-world application,” said Daphne Tien, Vice President of Marketing and Business Development at Mouser APAC. “Our presence at PSECE 2026 underscores our dedication to empowering engineers with the tools they need to innovate. We look forward to fostering a vibrant ecosystem where technology translates into tangible progress for the Philippines and beyond.”

Mouser’s participation highlights its strategic objective to strengthen ties with local partners and accelerate the adoption of advanced semiconductor technologies. By providing a platform for knowledge exchange, the company aims to help design communities turn promising prototypes into practical applications.

Attendees will have the opportunity to gather invaluable insights, learn industry best practices, and connect with professionals from across the region. The booth also features interactive activities where visitors can win premium gadgets and engineering tools, making innovative technology more approachable for everyone.

To learn more about Mouser’s presence at PSECE 2026, visit https://www.mouser.ph/psece-seipi/. 

For more Mouser news and our latest new product introductions, visit https://www.mouser.com/newsroom/.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/mouser-electronics-brings-smart-sensing-solutions-to-psece-2026-302914806.html

SOURCE Mouser Electronics

Continue Reading

Technology

Workato Launches Self-Serve Platform in Singapore, Opening Enterprise AI to a Broader Community of Builders

Published

on

By

New offering gives developers, students, and customers access to the full power of Workato’s enterprise-grade engine to build AI agents and MCP servers

SINGAPORE, Oct. 21, 2026 /PRNewswire/ — Workato®, the leading Control and Execution Platform for Enterprise AI, today announced the launch of a new self-service offering that gives customers, developers, and students across Asia access to the Workato platform to govern and scale their AI initiatives, including building and productionizing AI agents and MCP servers.

Making AI accessible has been at the heart of Workato’s mission the past several years. Through the AI Institute Alliance, unveiled in September 2025, Workato partnered with leading institutes of higher learning across Singapore, including Nanyang Polytechnic, Republic Polytechnic, Temasek Polytechnic, Singapore Polytechnic, Ngee Ann Polytechnic, the Singapore University of Social Sciences, and the National University of Singapore. The initiative equipped students and educators with automation and AI skills.

The AI Lab, which opened a year later, extended that commitment further into the public sector through its partnership with EDB, and into inclusive hiring through SG Enable.

The newly launched self-serve platform will provide users access to:

A free account to start building immediately, with the option to upgrade to a paid plan, no contract required, as projects growThe ability to build recipes, Agents/Genies, and MCP servers directly on the platformThe same governed, enterprise-grade engine that powers Workato’s largest deploymentsA path built for independent developers, students, and small teams, as well as large enterprises

Since launching in 2026 in North America, Workato has seen rapid growth in the builder community. The platform is enterprise grade, but free to get started. As builders solve problems for their business, they can grow by upgrading to a paid plan. With this launch in Singapore, Workato is making an investment in the local builder community.

“The next era of AI won’t be defined by who has access to intelligence, but by who can turn it into action. We’re putting the same enterprise-grade power trusted by the world’s largest companies into the hands of every builder. We want everyone to be able to transform how their business operates,” said Rishi Mallik, Chief Growth Officer, Workato. 

Workato showcased its self-serve platform and broader community initiatives at World of Workato (WOW) 2026 in Singapore.

Builders can sign up now at https://app.trial.workato.com/users/sign_up_trial?utm_content=sg_wow2026.

About Workato

Workato is the leading Control and Execution Platform for Enterprise AI — the neutral platform enterprises trust to put AI to work across their business. Workato unifies data, applications, and processes into a single platform so AI can reliably orchestrate business processes in production at enterprise scale. Built on more than a decade of running mission-critical processes for over half the Fortune 500 — including Nasdaq, Cisco, Vodafone, Atlassian, and Lucid Motors — Workato turns over 17,000 enterprise systems AI needs to act on into one governed execution layer. For more information, visit workato.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/workato-launches-self-serve-platform-in-singapore-opening-enterprise-ai-to-a-broader-community-of-builders-302914795.html

SOURCE Workato

Continue Reading

Trending