Life Insurance Corporation (LIC) has tied up with Policybazaar to digitally offer a wide range of Life Insurance and investment products to its customers across India. This is LIC’s first association with a private insurance aggregator, which has mainly relied on its 1.33 million agents for distributing products. To facilitate seamless digital distribution of life insurance products and boost financial inclusion across India.
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The benefit of the tie-up:
The alliance will provide insurance services in smaller cities to ensure financial inclusion and social security. It will increase its penetration digitally in rural and remote areas and offer a wide range of term and investment products to the customers.
Important takeaways for all competitive exams:
- Life Insurance Corporation of India Founded: 1956;
- Life Insurance Corporation of India Headquarters: Mumbai, Maharashtra;
- Life Insurance Corporation of India Chairperson: M R Kumar.
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