Kerala - Kochi   

Ernakulam Division of LIC maintains top position

KOCHI: The Ernakulam Division of the Life Insurance Corporation of India has retained the top position among 105 divisions in the country in absolute volume as on September 30. The Division, consisting of Ernakulam, Palakkad and Thrissur districts, received Rs.408.91 crore in single premium. It also stood first in growth rate, with 32.95 per cent, said J. Anil Kumar, Senior Divisional Manager.

Addressing a press conference, he said the division stood second in the country in respect of the number of policies. It has set a target of 6,20,000 policies and Rs.955 crore of first premium income for the current fiscal.

The division sold 2,05,428 unit linked insurance polices for a total premium collection of Rs.548.16 crore. Among the 24 branches of the division, the Kunnamkulam branch, with 21,049 policies, stood first in number of policies while Thrissur I branch with Rs.43.73 crore stood first in total first premium income.

Mr. Kumar said LIC would launch health insurance scheme and a credit card venture soon. A project named Enterprise Document Management System was being taken up to scan all policy files so as to make a paperless office.

A scheme to facilitate collection of premium by agents had been introduced on a trial basis in Maharashtra and Gujarat. It might be extended to Kerala also.

Eleven satellite branches would be opened in Ernakulam Division soon, he said.

Mr.Kumar said LIC had provided insurance cover to 14 lakh Anganwadi workers in the country without charging any premium this year, under the social security scheme, Janasree Bima Yojana.

The Ernakulam Division had insured 25,000 lives under the scheme this year. The risk cover is for Rs.30,000. Children of the scheme members, studying in standards 9 to 12 are given Rs.1,200 each as scholarship during a year.

The Ernakulam Division had distributed more than Rs.1 crore as scholarship during the current financial year, Mr. Kumar said.

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