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LIC launches digital initiatives, online switching of funds under ULIP policies

Our Bureau Mumbai | Updated on December 11, 2020 Published on December 11, 2020

The life insurance behemoth has also extended the bi-lingual customer care through call centre support to regional content

Moving to digital initiatives for improved customer servicing in the ongoing pandemic, Life Insurance Corporation of India on Friday said it has introduced an online facility for switching of funds under unit-linked policies.

“Online facility for switching of funds under ULIP policies has been introduced through LIC’s customer portal for policyholders registered for premier services, on policies on their own life and on the lives of their minor child and children from December 7, 2020,” it said in a statement.

The facility is available for LIC’s New Endowment Plus (Plan 935), LIC’s Nivesh Plus (Plan 849) and LIC’s SIIP (Plan 852), the three plans currently being sold.

“This facility of online switching of funds is free of cost and no charges are required to be paid for availing this facility,” it said, adding that only one switch is allowed per day per policy through an OTP based Authentication system.

Further, the life insurance behemoth has also extended the bi-lingual customer care through call centre support to regional content and the services are now available in Marathi, Tamil and Bengali as well.

It also has a conversational Artificial Intelligence/Machine Learning enabled bi-lingual Chatbot, LIC MITRA on its website. The Chatbot has answered 1.2 crore queries since its launch in January this year.

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Published on December 11, 2020
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