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LIC launches industry’s first digital tool to issue a policy

21-Nov-2020

M R Kumar,chairman,Life Insurance Corporation(LIC), on Thursday,virtually launched the corporations’ first digital application, Atma Nirbhar Agents New Business Digital Application( ANANDA),a first of its kind in the Indian life insurance industry.

The digital application is a tool for the on boarding process to get the life insurance policy through a paperless module with the help of the agent / intermediary.It is built on paperless KYC process using Aadhaar based e-authentication of the life proposed.

Kumar said that ANANDA will mark a new chapter in realising the dreams of its marketing intermediaries to use digital applications as a marketing instrument..

LIC has.pioneered the process of ANANDA  through its in-house IT enabled systems.

This tool has been brought out at the right time, to enable and empower the marketing force of LIC to face the current challenges and propel insurance selling to a higher level, said LIC. 

With social distancing being the new normal, prospective customers can avail the facility of taking a new life insurance policy in the comfort of their homes/offices without having to meet the agent / intermediary in person, thereby throwing a new level of opportunity in the purchase of life insurance policy, explaned the LIC..

The event, attended by T C Suseel Kumar,managing director(MD), Mukesh Kumar Gupta, MD, Raj Kumar, MD,was marked with the release of an e-training video for the agents, depicting the salient features of the application and the process from introduction to completion of a  Life Insurance policy.

The launch had generated tremendous enthusiasm among the marketing officials and intermediaries of the corporation..

The first life Insurance policy under the paperless digital application was issued by the chairman which was followed by issue of new policies across the zones of the corporation.

Source : Asia Insurance Post

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