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LIC launches ‘PRAGATI’ mobile app for Development Officers

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LIC launches mobile app 'PRAGATI'On 17th September 2021, Life Insurance Corporation of India (LIC) launched its new mobile app – ‘PRAGATI’ (Performance Review Application, Growth And Trend Indicator) for exclusive performance analysis of the company by development officers.

i.PRAGATI has provisions for real-time performance analysis by analysing various information related to Premium collection, Policy activation, NACH validation among others.

ii.Using the real-time data, development officers can monitor the activities of their LIC agents.

iii.PRAGATI  has provisions for calculators to measure Cost ratio.

LIC launches AI based app – “Jeevan Saakshaya”

“Jeevan Saakshaya”, an Artificial Intelligence (AI) technology based application, was launched by LIC  that offers retired employees for online submission of life certificates.

  • LIC’s Individual Pension Plan (IPP) Annuitants and Staff Pensioners can submit their digital existence life certificate through the app.

Note – In India, Foreign Direct Investment (FDI) upto 74% is allowed in the Insurance sector, which is not applicable to LIC which is 100% owned by the Government of India.

Digital Initiatives by LIC:

  • In August 2021, LIC launched ‘Ananda’ (Atma Nirbhar Agents New Business Digital Application) Mobile App, an Aadhaar based paperless KYC processing application for LIC Agents.
  • ‘LIC Mitra’, a Chatbot that is available in English, Hindi and Marathi currently serves over 50,000 daily enquiries.

Recent Related News:

“Bachat Plus” a non-linked individual savings plan was launched by LIC, with a minimum basic assured sum of Rs. 1 lakh and a maturity period of 5-years.

About LIC:

Chairman – M R Kumar
Established – 1956
Headquarters – Mumbai, Maharashtra