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LIC woos millennials with upgraded website, better customer service

Online upgrade, push to agency and alternate channels has helped it increase market share

Life insurance, insurance
premium

Subrata Panda Mumbai
In a bid to attract millennials, Life Insurance Corporation (LIC) of India has improved its customer service experience and upgraded its online services. The results are already showing.

As of October 31, of about 10 million policies sold by LIC in 2019-20 (FY20), 2.2 million were to people aged between 18 years and 25 years, 2 million to people aged between 25 years and 30 years, and 1.7 million to people aged between 30 years and 35 years.

Millennial is a term loosely applied to people born between mid-1980s and 2000, reaching adulthood in early 21st century.