The Finance Ministry’s Department of Financial Services Secretary, M. Nagaraju, introduced two new mobile applications for Life Insurance Corporation of India (LIC) on Wednesday. The apps, named ‘MyLIC’ for policyholders and ‘Super Sales Saathi’ for sales intermediaries, aim to enhance LIC’s digital transformation. Nagaraju highlighted the significance of this development, calling it a pivotal moment in LIC’s digital journey towards becoming a strategic distribution and engagement platform.
These applications, developed on LIC’s DIVE (Digital Innovation and Value Enhancement) platform, consolidate customer service, intermediary tools, and internal operations into a unified digital framework. ‘MyLIC’ serves as a comprehensive policy management app, offering features such as policy viewing, premium payments, real-time policy tracking, and paperless policy loans. It also facilitates online policy revival, e-KYC, and direct policy purchases without physical visits.
On the other hand, ‘Super Sales Saathi’ targets LIC’s agents and marketing personnel, providing them with digital sales kits, real-time policy monitoring, automated follow-ups, and AI-driven customer engagement tools. The app includes performance dashboards for tracking targets and achievements, as well as communication tools for direct customer interaction.
LIC’s CEO and MD R. Doraiswamy emphasized that these apps signify a transition from support tools to strategic assets, with the potential to boost LIC’s growth, persistency, and operational efficiency. He mentioned that further investments in AI-driven insights and ecosystem integrations will steer LIC’s digital expansion in the future. The DIVE platform is anticipated to reduce office reliance and enhance operational efficiency throughout LIC’s extensive network.
