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Wednesday, Sep 07, 2005

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LIC aims for 15 lakh Bima Gold policies in South Central Zone

Our Bureau

Hyderabad , Sept 6

THE Life Insurance Corporation of India (LIC) has targeted to sell 15 lakhs of Bima Gold policies, launched by the Prime Minister to mark its Golden Jubilee, in the South Central Zone.

The zone comprises Andhra Pradesh and Karnataka. Overall, the insurance company aims to sell one crore policies in the country by the end of this financial year.

Addressing a press conference here on Tuesday, Mr T. Chattopadhyay, Zonal Manager, said the company was in the process of developing folio numbers to customers. These numbers would have complete information on a customer's insurance holding. "These numbers will be given in one year," he said. A separate portal for policyholders was in the offing.

"We ranked number one in the sale of Jeevan Anand at 1,09,946 policies at the national level as on July 31," he said.

As on August 31, the zone recorded a new business of 12,47,795 policies with a growth rate of 11.41 per cent.

The zone's business through alternative channels recorded a whopping 367 per cent growth over last year's sales, with sales of 5,929 policies. Premium received through these recorded a growth of 190 per cent at Rs 5.88 crore.

The Visakhapatnam division ranked sixth at the national level in selling policies under alternative channels. The corporation introduced ECS (Electronic Clearance System) at Hyderabad, Bangalore, Vijayawada and Visakhapatnam.

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