The Hindu : Other States / Orissa News : LIC doing remarkable business in State, says Cuttack division official

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LIC doing remarkable business in State, says Cuttack division official

Correspondent

‘Corporation working on war-footing to have paperless office in three months’

LIC has invested Rs. 3,392 crores in social sectors of the State
Cuttack division has recorded a 20 per cent growth in business during last fiscal

CUTTACK: Life Insurance Corporation (LIC) of India, the largest insurance provider of the country would soon have paper-less office across the country in next three months.

“After introducing internet payment facility and customer portal, the LIC is now working on a war-footing to have paper-less offices in next three months with the help of Enterprise Document Management Services (EDMS)”, said B K Tripathy, senior divisional manager of the Cuttack LIC division here on Monday.

Speaking to reporters on the occasion of 52nd Insurance week celebrations here, Mr. Tripathy pointed out that the corporation was doing remarkable business in the State. “Committed to its social responsibilities, the corporation has invested Rs 3392.54 crores in the social sectors of Orissa”.

He said that by the end of March this year, the LIC had invested more than Rs 2685 crores in the securities of the State Government.

While investing in financial bonds and shares, the corporation has invested a substantial amount in providing loans to cooperative bodies, housing schemes, electricity and drinking water supply in the State.

Satellite offices

The Cuttack division having recorded a 20 percent growth in business during last fiscal, had created 40 Bima Grams, eight Bima schools and 24 Bima banks in its jurisdiction during 2007-08, Mr. Tripathy said.

By March this year, the division had opened six satellite offices at Jajpur Road, Chandikhol, Soro, Remuna, Athgarh and Anandpur.

Looking at the business prospects in Salepur, Chandbali, Bhograi, Karanjia, Nalco Nagar and Joda, satellite offices of the LIC would soon come up at these places during the current fiscal; Tripathy said adding that the satellite offices in the state would be converted into branch offices in future.

Cuttack division office in this fiscal is servicing about at least seven lakh new policies getting nearly Rs 550 crore as first premium.

The total number of policies of the division is now pegged at 28 lakh, Mr. Tripathy said.

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