LIC Unveils 'One Man Office' to Digitally Empower Agents
The Life Insurance Corporation of India (LIC) has introduced a new digital initiative called the ‘One Man Office’ (OMO) to enhance the efficiency of its agents by providing 24×7 digital services. Launched on February 17, 2025, this initiative aims to support LIC’s long-term vision of ‘Insurance for All by 2047’ by offering seamless online tools for policy sales, customer service, and business management.
LIC, India’s largest insurer, has been investing heavily in digital transformation, and the ‘One Man Office’ is a major step in making its agents more independent and productive. By integrating technology into insurance services, LIC is ensuring that its agents can work efficiently without the need for a traditional office setup, ultimately benefiting both policyholders and the corporation itself.
LIC’s One Man Office is designed as a mobile digital office, providing agents with key tools to manage their daily activities. With a focus on simplifying policy sales, premium collection, and customer service, the platform includes:
According to Adgully, this initiative ensures that LIC agents are equipped with all the necessary tools at their fingertips, reducing dependence on physical offices and making customer interactions smoother.
The ‘One Man Office’ initiative is integrated with LIC’s ANANDA (Atma Nirbhar Agents New Business Digital Application) platform, which was launched in 2020 to digitize new policy issuance. The ANANDA app has already played a crucial role in LIC’s digital growth, facilitating over 1.15 million policy sales in FY 2023-24, marking an impressive 42.84% increase from the previous year.
By linking One Man Office with ANANDA, LIC ensures that agents can leverage a single-window solution for all their business activities. This seamless integration makes it easier for them to issue policies, track customer data, and process applications without visiting LIC branch offices.
Apart from One Man Office, LIC is working on several key initiatives to modernize its agency network and expand its market reach:
Agency Transformation with ‘Jeevan Samarth’ – In July 2024, LIC partnered with global consulting firm A.T. Kearney to revamp its agency model under the ‘Jeevan Samarth’ initiative. The project focuses on restructuring LIC’s operational framework across branches, divisions, and zonal offices to align with global best practices. This effort ensures that LIC remains competitive in an evolving insurance landscape .
Entry into Health Insurance Sector – LIC has also expressed interest in expanding into the health insurance market, aligning with the Indian government’s plan to introduce composite insurance licensing. This would allow LIC to offer health insurance policies alongside its existing life insurance products, providing customers with comprehensive coverage options .
With these developments, LIC is not only modernizing its agency force but also preparing for a future where digital solutions drive the insurance industry forward. The ‘One Man Office’ is a crucial part of this strategy, enabling agents to work efficiently and serve policyholders without limitations.
Aspect | Details |
---|---|
Why in News? | LIC launched ‘One Man Office’ (OMO) on February 17, 2025, to provide agents with 24×7 digital services. |
Purpose | To enhance agent efficiency, reduce reliance on physical offices, and improve customer service. |
Key Features | Digital tools for policy sales, premium payments, loan requests, claim processing, and customer support. |
Integration | Connected with ANANDA platform for seamless policy management and digital transactions. |
Strategic Vision | Supports LIC’s ‘Insurance for All by 2047’ initiative and modernization goals. |
Other Developments | LIC is revamping its agency model with ‘Jeevan Samarth’ and planning entry into health insurance. |
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