LIC Ludhiana Division Marketing Manager Dawa Ram highlights achievements

Ludhiana, September 4, 2019: Life Insurance Corporation of India, Ludhiana Division, Marketing Manager, Dawa Ram, on completion of glorious 63 years of LIC’s incorporation today said that LIC has played a significant role in spreading life insurance among the masses and mobilization of people’s money for people’s welfare.

Addressing the media persons here, he added that with an initial capital of Rs.5 Cr in 1956 today LIC has Assets of over Rs.31 lakh crore with Life Fund more than 28 lakh Crore. During 2018-19, LIC’s market share of new policies issued was more than 74.71% and the market share on Total First Year Premium was pegged at 66.24%. Once again LIC’s Claim settlement ratio is at 92.95% % for Maturity Claims & 98.27% for Death Claims is one of the best in the industry. LIC has been a pioneer in using information technology for enhancing the quality of its service to customers. Being the largest insurer in India, LIC has always explored all the avenues that technology offers to provide the best of services to its valued customers and other stakeholders. Information technology initiatives have facilitated SMS based Helpline services, Online payment of premiums through wallets and SMS Alert on Transactions. Customers are able to make use of e-Services for many transactions. All payments now are made of through NEFT.

He further told that the contribution of Ludhiana Division which comprises Samrala, Khanna, Jagraon, Bathinda, Mansa, Rampura Phool and Ludhiana city itself has performed very well during the financial year ending 31.03.2019 when 1,15,202 new policies were sold out which the collection of 185.61 crore of First Premium Income. The claim performance of Ludhiana Division has remained very satisfactory during the year 31.03.2019 total 1,23,140 claims of Maturity and Survival Benefits amounting to Rs. 798.71 Crore were settled during the year. Similarly 3316 death claims, amounting to Rs. 63.05 crore were also settled within 15 days from the intimation.

Marketing Manager further told that in the current fiscal upto 31.07.2019, total 28,851 SB & Maturity Claims amounting to Rs.177.88 Crore has been settled whereas an amount of Rs.20.16 Crore have been paid under 1027 Death Claims by Ludhiana Division.

As a part of Insurance Week Celebrations, Ludhiana Division has organized the following activities. On September 1, 2019 “Bima Jagrookta Daud” was organized which was inaugurated by Marketing Manager from Dugri Divisional Office to Phase-I, Phase-II, Durgamata Mandir and reached & completed at Divisional Office where the Flag Hoisting ceremony was held. On September 2, drawing competition was held in Government School. Medical Check-up Camp & Health Seminar was held on September 3. September 4 was celebrated as Agents’ Day. September 5 will be celebrated as Swachch Bharat Abhiyan. Policyholders’ Meet will be held on September 6. And, closing ceremony will be held on September 7 with a cultural program.

Apart from the above activities Special Service Counter was being placed in all the branches for the Policyholders, he added.