Chennai, Nov 11: The Life Insurance Corporation of India (LIC) is planning to provide online premium paying facility to its customers by the end of the current fiscal. The corporation has computerised all its 2,048 branches and is planning to provide connectivity between 33 major cities in the country during the year with wide area network (WAN). This is in addition to the eight major cities that have already been connected with WAN, said LIC chairman GN Bajpai.With this initiative the corporation will be able to cover and connect about 750 branches by the end of March 2001, he said. "We are still in talks with some banks for providing the payment gateway," he added. Apart from this the corporation is also planning to provide online information on the policies offered by it to its customers.
LIC is also looking at redeploying its work force to add value to core areas. This will also help the organisation to build better relationship with its customers and to improve its performance, he said. During the Eighth Plan, the corporation had invested about Rs 56,097 crore in the economy and is expected to invest Rs 1,30,000 during the Ninth Plan. As of October 2000 LIC has invested about Rs 79,000 crore in the economy.
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