LIC looks technology as an enabler, catalyst to strengthen agency force, says MD R Doraiswamy

He also noted that the younger generation is increasingly focused on protection-oriented insurance products, adding, “Retirement planning is also catching up when it comes to insurance.”

Life Insurance Corporation of India (LIC) Managing Director R Doraiswamy, on December 18, highlighted the company’s focus on leveraging technology as a catalyst to strengthen its agency force.

Speaking at the Moneycontrol Fintech Conclave, Doraiswamy said, “LIC is an agency-driven business organization. We look at technology as an enabler or catalyst to further strengthen the agency force.”

He also noted that the younger generation is increasingly focused on protection-oriented insurance products, adding, “Retirement planning is also catching up when it comes to insurance.”

Doraiswamy further emphasized that the adoption of proper technology will enable insurance companies to price their products more effectively.

(Developing story)