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LIC spreads its Net to cover more customers

R. Sairam

MADURAI: The country's largest insurer, Life Insurance Corporation of India (LIC), has started harnessing technology in a big way to reach out to the doorstep of prospective customers.

Termed ‘Direct Marketing Channel,' LIC was using its portal to cover untapped segments, J. Chakrapani, Senior Divisional Manager, Madurai, told The Hindu here on Thursday.

Explaining this initiative, he said that when a customer logs into the LIC website and expresses interest in a particular policy, the person would be asked to key in his location and other particulars. Immediately, LIC personnel, specifically trained in direct marketing and located in the vicinity of the prospective customer, would pay him a visit. The sales process would be closely monitored through lead management and also provide sophistication in delivery. “This will provide efficient, responsive and convenient buying experience to customers through high technology and high touch systems,” he said.

A separate office dedicated to direct marketing had been established at Madurai from where it would monitor implementation throughout the division. The division comprises 25 branches and 16 satellite offices in Madurai, Dindigul, Sivaganga, Ramanathapuram, Theni and Virudhunagar districts.

A total of 70 Direct Marketing Executives had been given a month-long training so far. They would also conduct surveys and elicit customer opinion and feedback. They would also focus on high net worth individuals, non-resident Indians, youth and women, he said. While initially introduced in 10 out of 111 divisions across the country in 2009-10, this system had been extended to 75 more divisions, including Madurai, this fiscal, said Mr. Chakrapani.

This channel would serve as an experimental laboratory for all new initiatives, he said, adding that successful ones would be transported to the main line. The system would also help promote health insurance and pension products.

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