The life Corporation of India (lIC) has crossed many milestones and set unprecedented performance records in the insurance sector in the country, said lIC Senior Divisional Manager SP Paricha during the celebration of 62 years of its incorporation here on Saturday.
He said that during the financial year 1917-18, the lIC registered a growth of 8.12 per cent with total first year premium at the end of March 31, 2018 amounted to Rs 134511.68 crore capturing 69.40 per cent of market share. Similarly, th lIC’s claim settlement ratio is at 95.36% for maturity claims and 98.04% for death claims respectively. It has also introduced new technologies like mobile applications and new customer’s portal, he added.
Among others, lIC Marketing Manager Gupteswar Bagh and Sales Manager S Patra were present.