The Hindu Business Line : LIC to complete digitisation of policies in 3 years

Hyderabad, Oct. 11 Life Insurance Corporation of India (LIC) has said that it would complete the process of digitisation of all the policies in the next three years.

Addressing a press conference here on Thursday, Mr S Viswanathan, Zonal Manager (for Karnataka and Andhra Pradesh), said the EDMS (Enterprise Document Management System) in the zone was being done in the divisions covering Hyderabad, Secunderabad, Bangalore 1 and 2.

Of the 22 crore policies that LIC registered, the South Central Zone contributed four crore policies. The EDMS facility would allow customers to carry out anywhere-anytime transactions.

In talks with AP

The corporation is planning to replicate Bhagyalakshmi, the exclusive scheme for the girl child being implemented in Karnataka, in Andhra Pradesh in a month or two. “We are in talks with the State Government in this regard,” he said.

He said the corporation could cover 1.76 crore under the Social Security scheme, including 43.87 lakh this financial year so far. The schemes, targeted at the poor, entailed life risk cover (for Rs 30,000) and death or permanent disability cover (Rs 75,000) just at a very low premium.

Focus on Karnataka

In Andhra Pradesh, where self-help group movement is strong, the zone could cover 14.33 lakh lives last year as against 2.35 lakh in Karnataka. This year too, Andhra Pradesh with 11.08 lakh lives covered stood ahead of Karnataka (1.59 lakh lives).

“We are focussing on Karnataka this year to cover more lives in social security schemes,” he said.

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