Central Zone has topped in selling of Bima Diamond policy in the country and percentage increase in non-single premium policy in collection of first year premium, said Zonal Manager of lIC of India (Central Zone) Mukesh Gupta while speaking with mediapersons at the inauguration of insurance week at Central Zone Training center of lIC on Friday.
He said that at the end of the FY 2016-2017, 23 plans for sale under Individual Business have been offered. In the current FY four new plans have been added viz. lIC’s Aadhaar Stambh, lIC’s Aadhaar Shila, lIC’s Jeevan Umang and Pradhan Mantri’s Vyay Vandana Yojana.
During 2016-17 life Insurance Corporation of India has registered a growth of 27.22 per cent in the New Business in terms of the First Year Premium. The total first year premium amounted to Rs 124396.27 cr at the end of March 31, 2017 capturing 71.07 per cent of market share. lIC’s market share in terms of number of policies was 76.09 per cent, garnering over 20 million new policies as on March 31, 2017.
In 2016-17 lIC of India settled 215.58 lakhs claims amounting to Rs 1,12,700.41 crore and achieved settlement of 98.34 per cent Maturity claims and 99.63 per cent of Death Claims in the year.
lIC Mobile Application for online Premium payment on Windows and Android phones and payment of premiums at POS machines by swiping debit and credit cards at POS machines installed at selected Branches and Premium Points of authorized Merchants are few of the initiatives to facilitate the customers.
On August 29, 2017 a solar plant of 100 KW has been installed at central zone office which would produce 440 units of power on daily basis.