Max Life Partners with Yuvaa, for groundbreaking financial literacy initiative with a focus on Gen Z

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23 May, 2024, 11:00 IST

Popular creators such as Dharna Durga, Vishnu Kaushal join Max Life & Yuvaa, to bridge the financial literacy gap with engaging video series

NEW DELHI, May 23, 2024 /PRNewswire/ -- Max Life Insurance Company Ltd. ("Max Life" / "Company") today announced a pioneering partnership with Yuvaa, India's first youth-driven content platform, to launch a multi-part video series focused on India's financial empowerment, with a primary focus on Gen Z. This strategic collaboration seeks to address the financial empowerment needs of differentiated cohorts within the Gen Z segment, including women, as well as the often overlooked segments, such as the LGBTQIA+ community.

The initiative draws from the insights of Max Life's India Protection Quotient 6.0, a comprehensive study on the financial needs and priorities of demographics across urban India. This data-driven approach ensures the content series resonates with the younger audiences and delves into conversations that address their specific financial concerns.

Commenting on Max Life's efforts to understand and solve for India's financial preparedness, Rahul Talwar, Chief Marketing Officer, Max Life Insurance, said, "At Max Life, we're dedicated to understanding the ever-evolving financial needs of all Indians, with a particular focus on empowering underserved communities. Our flagship India Protection Quotient (IPQ) study, now in its sixth edition, exemplifies the extensive reach and authenticity of our research efforts to develop a better understanding for India's financial preparedness. This robust and wide-ranging study highlights the critical need for financial literacy across diverse populations, including and especially up and coming segments like Gen Z. By providing genuine and comprehensive insights, the IPQ fosters meaningful dialogue with audiences, particularly Gen Z."

He further added, "Partnering with Yuvaa for this unique series aligns perfectly with our mission to engage younger audiences on impactful platforms and issues. Yuvaa's exceptional ability to connect with young and diverse demographics reflects our own brand values. Through collaborations like this, we aim to equip diverse communities with the knowledge and tools they need to make informed financial decisions, ultimately paving the way for a secure future."

Nikhil Taneja, Media Entrepreneur and Co-Founder, Yuvaa, said, "Growing up, most millennials were taught only about the need to make money but never about saving or investing it. Thankfully, the Gen Z is a far more aware generation and is willing to learn about financial planning and discipline, much earlier than any other generation before. At Yuvaa, we believe in the value of making important conversations interesting. So, we are thrilled to tie up with Max Life Insurance, and create a co-branded roundtable series, Gen Z Gets Real with Money, to highlight the importance of financial literacy among the youth and to make the conversation around investing more accessible, authentic and awesome to young Indians."

Kick starting the series, Gen Z Gets Real with Money, the inaugural episode, showcases a thought-provoking discussion on life insurance and financial responsibility amongst some of India's top digital creators, moderated by Nikhil Taneja, Media Entrepreneur and Co-Founder, Yuvaa. In a society where young individuals are often overlooked in financial matters, the episode aims to challenge stereotypes and explore how Gen Z's relationship with money evolves as they transition into adulthood.

The series features popular digital content creators — Dharna Durga, Vishnu Kaushal, Anushka Rathod, and Siddhesh Lokare — among others, who will share their unique perspectives and experiences on financial matters. This strategic use of creators fosters trust and relatability with viewers, particularly young adults, who often turn to social media for information and guidance.

Addressing Gen Z's financial planning habits, Anushka Rathod said, "Contrary to the prevailing perception, Gen Z is not a cohort of reckless spendthrifts. While the temptations to indulge in present-day consumption have escalated, and Gen Z may exhibit a greater proclivity for spending than preceding generations, a responsible undercurrent persists among the majority, characterized by a desire to save, invest, and provide for their families. Our individual experiences with money shape our decision-making processes profoundly. While technical concepts of financial management are extensively discussed, the emotional aspects that influence our monetary choices often go unaddressed. Engaging in conversation with the panelists of this roundtable has proven invaluable in recognizing and confronting my own inherent biases that sway my decisions, giving a deeper understanding of my financial behaviours."

Siddhesh Lokare, while commenting on his association with the initiative, said, "The very fact that the roundtable was diverse yet so connected made it beautiful. I got to understand how each of the panelists had a purpose behind why they are pursuing content and why money plays an important role in their lives. I learnt that we all are trying to buy more time while making and saving money for our loved ones. We took some significant learnings about saving efficiently, applying the law of compounding to relationships and taking ourselves less seriously. Everyone poured their emotions and heart into this roundtable. Beautiful experience."

The multi-part video series will debut exclusively across Yuvaa's social media channels. Each episode will be designed to be informative and engaging, featuring a mix of personal stories and expert advice. By combining Max Life's financial expertise with Yuvaa's youth-focused content creation, this initiative has the potential to make a significant impact on financial literacy in India. It aims to empower diverse communities in the country to take charge of their financial futures and build a foundation for a secure and prosperous life.

Link to access the videos: What does Gen Z spend their money on? @anushkarathod98 @dharnadurga Siddhesh Lokare & Vishnu Kaushal

About Max Life Insurance

Max Life is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. 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 the 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 website at www.maxlifeinsurance.com

About Nikhil Taneja

Nikhil Taneja is a Mumbai-based media entrepreneur known for his contribution to media, mental health and gender advocacy, and youth impact with passion. Co-founding Yuvaa, India's first Gen Z-driven media organisation, Nikhil leads a movement of impact, collaborating with esteemed brands, non-profits, and policy entities, to empower India's youth through storytelling and community engagement. His commitment to reshaping conversations about masculinity shines through his popular show, 'Be A Man, Yaar', fostering difficult conversations with influential figures, like Karan Johar and Vicky Kaushal, on mental health and positive masculinity. The show serves as a catalyst for important dialogue. Beyond creative pursuits, Nikhil advocates globally, serving on the Board of Directors for international non-profit Girl Rising and contributing to the Bill & Melinda Gates Foundation's Goalkeepers initiative.

About Yuvaa

Yuvaa is India's first Gen Z-driven youth media, insights and impact organization. Yuvaa believes in making important things interesting for young people and works with the world's leading brands and non-profits, like Meta, Amazon, Netflix, Spotify, IBM, Tinder, YouTube, UNICEF, Bill & Melinda Gates Foundation, Save the Children, and more, across verticals of research, content, social media, college activations and events. Yuvaa creates meaningful content online and starts meaningful conversations offline on urgent youth issues, like mental health, gender, sexuality, misinformation, and many more.