How Max Life Insurance adopted a digital approach Enter Max Life Insurance. As one of India’s largest non-bank private-sector insurers, the company has focused on creating an online channel where customers could go about buying policies without any intermediary. 0 claps Share on According to IBEF, the insurance industry of India has 57 players, and the overall market size of the sector in India is expected to $280 billion in 2020. Traditionally, agents or banks sell life insurance policies to consumers. But with increased digitisation and restrictions due to the COVID-19 pandemic, it has become untenable for insurance agents to physically visit consumers.