Customer connect@60 years: LIC to focus on reach-out to strengthen services

Special Correspondent

NewsBits.in

Bhopal: The central zone office of Life Insurance Corporation of India (LIC) would be focusing on customer connect to strengthen its services, increase its work base and widen the insurance net in Madhya Pradesh and Chhattisgarh, the zonal manager Raj Kumar has said.

Speaking to NewsBits.in on occasion of 60th foundation day (Diamond Jubilee) of LIC, the head of central zone said that customer connect through personal contact by agents and employees apart from usual publicity of products and services would be the focal point for the zone to increase its work base.

“The top 5% customers in every branch under the zone, as in entire country, would be personally reached out to by our employees and agents in the coming days. Important contact details such as mobile number, e-mail address and NEFT (banking) details would be gathered so that fast and transparent services could be provided to them,” Raj Kumar said.

Also service requests would be gathered from them and services provided voluntarily rather than on demand.

“We also want the customers to know and use the customer portal on our website www.licindia.in. Once a customer registers on this portal, he or she would be able to get many online services at a click,” Raj Kumar said.

He also said that serious efforts are on the increase the number of LIC agents towards increasing life insurance net. “After a decreasing trend for last two years, we have recorded a rising trend during past few months. But we want to increase the agent base to 75,000 from the existing 56,000 by the end of this year.”

Earlier, while addressing a press conference, the zonal manager said that though the LIC had insured a whopping 11.5 lakh individuals during 2015-16 in MP and Chhattisgarh, there was a wider market available as the number of insurable people in these two states was high as 7.63 crores.

“But people consider insurance not as life risk coverage, but merely as investment and therefore it was difficult to convince them to take insurance. We have 56,000 agents trying to reach out to maximum people and convince them but we accept that it is a tough job,” the officer said.

However, despite limitations, LIC holds 76.99% market shares in number of policies and 73.67% market share in first premium collection as on July 31, 2016, the zonal manager added.

The central zone did a business of Rs 31,161 crores in MP-CG in 2015-16 of which Rs 23,960 crores was from MP and 7201 crore from CG.

At national level, LIC has assets of over Rs 22 lakh crore and life funds to the tune of Rs 20, 57,625 crore. Over 29 crore life insurance policies are in force, the zonal manager said.

Customer centric initiatives: Offline payment channels for collection of premiums

Direct debit through selected banks (ICICI, Corporation Bank, Axis Bank, SBI) Electronic bill presentation and payment of Corporation, Citi, HDFC, ICICI, Federal, Axis Banks, LIC credit cards ATMs of Corporation, Axis and ICICI Banks Automated Premium Payment System Customer portal payment gateway on www.licindia.in Through banks and franchisees including MP Online Through senior business associates (selected development officers) Through empowered agents, retired employees Through LIC mobile application

(Details on www.licindia.in)