Max New York Life plans to take a leaf out of the mobile growth story and intends to leverage the distribution channel in a similar way.

They intend to introduce a concept of pre-paid insurance that can be purchased at the neighbourhood retailer. The Co. would issue individual insurance contracts on the spot, throught thermal printers and other technology components. MYNL is roping in IBM to build the technology backbone and has already earmarked Rs 400 crores for the same.

Not only this, they intend to bring the concept of top-ups in the same model. Looks like the mobile distribution strategy will soon become a best-practice now.