The Hindu : Tamil Nadu / Chennai News : Anywhere, anytime access for LIC policy-holders soon

Online edition of India's National Newspaper
Tuesday, Sep 11, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Anywhere, anytime access for LIC policy-holders soon

Staff Reporter

Various contests held for school, college students
“LIC has contributed to nation-building”

CHENNAI: Life Insurance Corporation of India would soon electronically scan 22 crore policies as part of its proposal to allow policy-holders access their policy from anywhere in the world, LIC’s south zone manager B. Manivannan said here on Monday.

Speaking at the valedictory of the 51st anniversary of the Corporation, he said this would also mean that a policy-holder could download a loan application, fill it and send it to LIC. Its 24-hour service centre would process and disburse the loan in the respective currency, at the place of the applicant’s choice.

That the Corporation had been adjudged the most trusted service brand in the country for four consecutive years and had received the Golden Peacock award for corporate social responsibility spoke for its commitment to the nation, he added.

Giving away prizes to winners in various competitions held as part of the anniversary, Police Commissioner Nanchil G. Kumaran said the LIC had been built on strong foundations.

When private insurance companies came to India, there were fears about what would happen to the LIC. But the fears have remained baseless judging by the trust policy holders reposed in the Corporation.

By conducting competitions for school and college students, the organisation had ensured its place in the country as these children were bound to purchase its policies when they grew up, he said. “LIC was formed in 1956, merging over 200 small, private insurance companies across the country, and settles 45,600 claims across the country every day. More precisely, three claims are settled every second. The Corporation has contributed to nation building and the country’s economy,” he said.

“Promising future”

“LIC’s future is promising. Your assets across the country are so vast that there is no chance of a person worrying about not being paid by the Corporation.”

Principal of LIC’s zonal training centre S. Hariharan said the Corporation had built infrastructure worth Rs.75,000 crore in the country, employed 1.15 lakh persons, and served 15 lakh customers.

Senior Divisional Manager of Chennai division II S.V. Sharma and Senior Divisional Manager of Chennai division I K.K. Singhal spoke.

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