Transforming Max Life Insurance with PMaps Job-Fit Assessments- Case Study

Discover how Max Life Insurance revolutionized its hiring process with PMaps Job-Fit Assessments. This case study highlights how high scorers sold 2.1 times more policies, tackling performance issues effectively. With a 70% accuracy in predicting high achievers, PMaps' assessments streamlined recruitment, integrating seamlessly with HRMS for efficient data management. Max Life's success story showcases the power of PMaps in transforming talent acquisition and boosting sales performance. Download now to learn more!
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1. Sales Performance:
How Max Life Crushed
Their Sales Targets
Case Study
pmapstest.com

2. Max Life Insurance is a part of the Max Group, an Indian life insurance
company founded in 2001. As the largest non-bank private-sector life
insurer in India, Max Life offers a wide range of insurance policies through
various distribution channels, including banks, individual agents, brokers,
and corporate agents. With over 10,000 employees, Max Life Insurance
operates across India, boasting a market cap of around 17,538 crores.
Introduction

3. Even though Max Life Insurance was doing well,
they faced some problems. One problem was that
their insurance agents could not sell enough
policies to meet their targets.
Another issue was finding agents who knew about
rules, operations, and had good math skills. The
last problem was that Max Life's hiring process was
old and took too much time, causing them to miss
out on good candidates because of mistakes.

4. To overcome these challenges, Max Life sought
an objective solution by collaborating with
PMaps in 2018.
PMaps identified crucial competencies and
abilities required in candidates and developed
pre-hiring assessments for Max Life's various
channels, including the distribution channel.

5. The PMaps Assessment evaluated candidates'
cognitive abilities like numerical skills,
attentiveness, and insurance knowledge, as well as
behavioral competencies such as positive attitude,
motivation, social skills including being bold, lively,
and team-oriented. The assessment lasted 30-40
minutes.

6. To make things simpler, PMaps combined their system
with Max Life Insurance's human resources (HR) system.
This gave Max Life access to PMaps' testing tools and
support even after hiring.
The combined system allowed automated
communication with candidates, giving them tests, and
creating reports automatically. This removed the need
for manual work and reduced mistakes.

7. The results of implementing PMaps Assessments were
remarkable. High scorers on the assessments sold 2.1
times more insurance policies than those with lower
scores.
The PMaps Performance model accurately predicted
high achievers with a 70% probability and low performers
with a 52% probability.

8. The main benefits of using PMaps Assessments were:
Finding the best candidates who could perform well1.
Increasing the sales numbers and performance2.
Making the hiring process faster and easier3.
Reducing manual work and mistakes4.
PMaps' smart suggestions and focus on keeping good
employees were very important for this successful
change.

9. PMaps Assessments completely changed how Max Life
Insurance hired people and helped them sell a lot more
insurance policies.
By solving the problems of poor sales and a slow hiring
process, Max Life could improve how they find and hire
talented people. This led to excellent results for the
company.

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