LIC launches 1st digital app 'ANANDA'

Mumbai: Life Insurance Corporation of India launched its first digital application, "ANANDA", an acronym for Atma Nirbhar Agents NewBusiness Digital Application, on Thursday, the 19th of November 2020. The launch was done by M R Kumar, Chairman, LIC of India through Video Conferencing, in the presence of the Managing Directors, T C Suseel Kumar, Mukesh Kumar Gupta, Raj Kumar and other Senior Officials of the Corporation.

The Digital application is a tool for the on boarding process to get the Life Insurance policy through a Paperless module with the help of the Agent / Intermediary. It is built on paperless KYC process using Aadhaar based e-authentication of the Life Proposed.

ANANDA is a first of its kind in the Indian Life Insurance industry with LIC of India pioneering the process through its in-house IT enabled systems. With social distancing being the new normal, prospective customers can avail the facility of taking a New Life Insurance Policy in the comfort of their homes/offices without having to meet the Agent / Intermediary in person, thereby throwing a new level of opportunity in the purchase of Life Insurance policy. The event was marked with the release of an e-training video for the Agents, depicting the salient features of the application and the process from introduction to completion of a Life Insurance policy.

Chairman of LIC of India said that ANANDA will mark a new chapter in realizing the Dreams of its Marketing Intermediaries to use Digital Applications as a Marketing instrument.