Max Financial Services on Wednesday said its insurance subsidiary Axis Max Life Insurance received communication from an anonymous sender about unauthorized access to its customer data.
Without disclosing specifics, the Noida-based financial services company said in its stock exchange filing that Axis Max Life Insurance subsequently initiated an information security assessment and data log analysis.
“A detailed investigation is also underway in consultation with information security experts to assess the root cause of the incident and take remedial action, as necessary,” the company said.
Axis Max Life Insurance is the fifth-largest insurer in India, with a sum assured of ₹21.9 trillion (approximately $256 billion) and assets under management of ₹1.75 trillion ($20 billion), as per the data disclosed in its latest annual report.
TechCrunch has reached out to Axis Max Life Insurance and will update when the company responds.
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