LIC pact-up with Policybazaar for digital allocation of life insurance:
Life Insurance Corporation (LIC) shake hand with Policybazaar to offer a wide range of Life Insurance and investment products to its customers across India in a digital medium. This is LIC’s first association with a private insurance aggregator. LIC mainly relied upon 1.33 million agents for distributing products on offline channels. To enable seamless digital distribution of life insurance products and boost financial inclusion across India LIC now tie-up with Policybazar.
Why this is Important?
The recent age is the age of digitalisation, where the gap between the urban and rural is shrinking at a very fast rate. Digitalisation ensured the reach of financial inclusion and social security in the comfort of a house, where everything can be accessed digitally. As LIC start to offer Insurance digitally It will increase its penetration digitally in rural and remote areas and can offer a wide range of term and investment products to customers of different needs.
SPECIAL NOTES FOR ASPIRANTS:
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