Friday, February 23rd, 2024

LIC is focusing on Fintech, everyone from policyholders to agents will be affected.

Photo:file LIC

Life Insurance Corporation (LIC), the country’s largest insurance company, is exploring the possibility of a new fintech unit under digital transformation. In an interview, LIC Chairman Siddharth Mohanty said that a consultant has also been appointed by the company under the Digital Transformation Project Dive.

In an interview given to news agency PTI, he said that under Dive, our aim is to provide the best in class digital initiative to all stakeholders, customers, intermediaries and marketing people.

Focus will be on customer acquisition

He further said that the first phase of digital transformation will focus on customer acquisition. In the coming time, customers will be able to avail LIC services at one click through mobile while sitting at home. Most of the customers are acquired by the company through agents.

LIC will launch three-four new products

Three to four new products can be launched by LIC in the coming time. This will help the company to grow faster. In the interview, LIC Chairman told that the company can launch a new product in the first week of December. Describing the features of this new plan, Mohanty said that this plan will give assured returns to the investors. Along with this, after maturity, you will get 10 percent of the sum assured till your lifetime. It was further told that premature withdrawal and loan facility will also be the features of this new plan.

Let us tell you, after the news of new product launch, there was a rise in the shares of LIC. In Friday’s trading session, the stock closed 9.69 per cent higher at Rs 677.65 per share on BSE. Due to the rise in the stock market, the market cap of the company increased by Rs 37,855.12 crore and reached Rs 4,28,613 lakh crore.

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