Life Insurance Corporation launches mobile premium calculator

Wednesday, 4 September 2013 00:00 - - {{hitsCtrl.values.hits}}

LIC (Lanka), Ltd., has launched a mobile premium calculator for its marketing and field staff. At present premium quotations of LIC Lanka’s insurance policies are generated from LIC’s branch offices. The marketing officials and agents have to visit branch offices to get the premium quotations for their prospective policyholder. However with this mobile premium calculator, a agents/field force will be able to send the premium quotations to their prospective policyholders through SMS from their mobile telephones sets any time anywhere.

The mobile premium calculator will be loaded on their mobile phone handsets with premium rates of all the policies offered integrated into the software. The many benefits of this application, such as fast and efficient network, are expected to increase the productivity of the company’s marketing staff, reduce paper work, save time and reduce costs. Another unique feature of this application is that along with premium quotations, each SMS will contain medical or other tests required for the completion of the proposals for the prospective policyholders. This software is developed by Digital Group InfoTech Lanka Ltd. The Digital Group is a premier provider of information technology services with extensive expertise in all facets of software development. The application can be loaded on any Android mobile phone and installation will be made easy. LIC Lanka plans to equip this to its field force soon, said LIC (Lanka) Ltd. CEO and GM Marketng and Operations Harvinder Singh. He added that in the current financial year, new business of LIC Lanka Ltd. has been growing at the rate of 76% for policies and 51% in first premium income. LIC is also planning to expand its branch network. LIC Lanka is a joint venture between Life Insurance Corporation of India and Bartleet Group which is a century old giant financial service providers in Sri Lanka. LIC completed 57 years of service on 1 September 2013 and is the biggest life insurance company in the world with more than 300 million policyholders. LIC Lanka Ltd. has 28 branches spread across the country.