LIC's market share stands at 84.82% in number of policies sold in Nov
New Delhi: For the month of November 2019 LIC's market share stands at 84.82 per cent in the number of policies sold and 71.59 per cent in FYPI.
LIC has increased its market share in the number of policies sold to 76.28 per cent and in FYPI to 71 per cent up to the month of November 2019. Millennials account for 44 percent of the new policies sold by LICI.
LIC's Eastern Zone which comprises of States of West Bengal , Sikkim and North East estates of India occupies the No. 1 position in sale of policies out of 8 zones in All
As of November 2019, Eastern Zone has sold more than 22 lakh policies with highest growth of 26.85 per cent. Contai Branch Office under Kharagpur Division holds the No. 1 position in sale of policy with 47,478 policies in all India and Sagar Saha of Jalpaiguri Division being No.1 Development officer with 9277 policies sold.
Somnath Bhattacharya, Development Officer of Kolkata holds No. 1 position in Eastern Zone in Premium Count with 30.90 crore.
Dhimanesh Ghosh , Agent of City Branch 15 , Kolkata holds the No. 1 position in FYPI in All India with more than 24.16 cr premium.
The first year premium collected by LIC from west Bengal and North east India crossed 5550 crore ; the first year premium from Kolkata and Kolkata Suburban alone crossed Rs 2600 crore during the current year. LIC has recruited more than 1,00,000 new agents in current fiscal out of which Eastern Zone has created new employment of 10,124 through agency profession.
More than 1.52 lakh people are engaged in agency profession in Eastern Zone for spreading the insurance cover throughout the entire spread of Eastern Zone.
50 per cent of our new agents are from millennial age group and they have played a key role in trapping millennial segment. Very recently we have added 429 people as Apprentice Development Officers in Our Zone and they are going to add more agency force in near future.
LIC is continuously working on improving its online services in Eastern Zone. 46 per cent of premium collection is thorough online route and alternate channels vig. Premium points, Life plus offices.
LIC has improved its customer service experience having the best claim performance in the industry.