LIC- Business Strategy Encompasses New Products, Channels; Par, Group Segments Remain Strong: ICICI Securities

ICICI Securities Report

Life Insurance Corporation participated in our India Financials Conference 2022 held between November 16-18. Key takeaways include:

1. Reiteration towards sustained path of of new business improvement (absolute as well as margin),

2. strategy of increasing bancassurance business: The LIC management is also engaging with bank partners for increasing LIC share and leveraging other business relationships towards the same objective,

3. strategy to augment the non-par mix through new launches as well as targeted agent training,

4. underlining the huge opportunity within group business and

5. efforts made by the company towards digitisation which has already started yielding results and

6. opportunities and challenges around Bima Sugam.

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