Insurance firm Max New York Life has signed a deal with BPO firm Genpact to outsource its customer service desk. The move is part of an internal restructuring exercise of the company and aims at consolidating operations and synergizing efficiencies within the
organizations.

The insurance company will be transferring 100 people to Genpact as part of this deal. “We are relooking at our overall business strategy and evaluating the way forward,” Rajesh Sud, CEO & MD of Max New York Life said. Genpact will send reminders to customers for payment of renewal premium and take calls from them on complaints.

The Life Insurance company has seen a few exits in senior management level with over three top-level executives leaving the organization in the past couple of months including chief marketing officer Debashis Sarkar, Ajay Seth, the firm’s senior director - legal & compliance and Vishal Chopra, head of new business (operations). Sanjeev Mago, executive VP, customer operations & service delivery, too is scouting for other opportunities, said another person familiar with the development.

With the slowdown in growth in the life insurance sector, the focus of Max New York Life has changed with respect to its expansion plans. Earlier, the private insurer was looking at expanding its operations and adding more number of branches in the country, while now they are looking at consolidation. “There are changes in operation which will enable us to strengthen our business model,” said Sud.

The life insurer has a head count of 11400 people and 74 agents. The company’s sale dipped by 4 per cent in the April-October period this year.

Genpact’s customer service practice supports more than 10 global enterprises, including companies in the telecom, BFSI, automotive and manufacturing. One of the latest firms that outsourced its services to Genpact was telecom operator Unitech Wireless.