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Bangalore, Sept. 2 LIC’s Bangalore area would go totally digital soon. The public sector insurer is now going ahead with Enterprise Document Management System (EDMS) in all its offices, according to a press release. The project envisages scanning and digitisation of the policy and other documents, and scanned images will be provided to the respective branches, which would enhance the servicing standards. The scanning operation of all records in Bangalore area is getting over.

In Karnataka, LIC has eight divisions, 138 branch offices and 56 satellite offices servicing about 160 lakh policies. The State has over 91,000 agents. The new business premium collected in 2008-09 in Karnataka is around Rs 2,070 crore and the total premium income for the same period is Rs 8,877 crore, said the release.

This fiscal, the insurer proposes to sell 30 lakh policies in the State with premium income of Rs 3,000 crore, and as on August 15, 2009, LIC had sold 6.78 lakh new policies with a premium of Rs 508 crore, recording a growth of 20 per cent in the number of policies sold and 12 per cent growth in premium.

During 2008-09, Karnataka branches have settled death claims amounting to Rs 342 crore and maturity claims worth Rs 1,902 crore. About 96 per cent of the claims were settled well before the due date, said the release.

More Stories on : Life Insurance | Information Technology | Karnataka

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