LIC launches web portal for group business ops

Hyderabad: Life Insurance Corporation (LIC) has launched a new centralized web-based work-flow-based IT platform, e-PGS, for its group business operations.

M R Kumar, Chairman of LIC, inaugurated the project e-PGS at the Central Office, Mumbai in the presence of Managing Directors Vipin Anand, Mukesh Gupta, Raj Kumar and S Mohanty. Rakesh Sharma, Managing Director and Chief Executive Officer of IDBI Bank received the first digital receipt, generated on new IT platform to the bank as Master Policy Holder in one of its group policies from M R Kumar.

The new technology platform is designed to provide for centralized collection and payment accounting with high level of bank integration through host to host connectivity and provide very innovative features of seamless and integrated banking with automatic reconciliations.

The new system, e-PGS, is capable of providing comprehensive self-servicing capabilities through customer portal where corporate customers will be able to view their data, initiate actionable processes, lodge and track claims.

"The new technology platform is designed to cater to the expectations of technology intensive corporate customers and will change the face of customer servicing on group business platform. The new system is capable of high-level integration with customers' technology systems for seamless transfer of data and services," said Vipin Anand, Managing Director, LIC.

LIC will soon launch a customer awareness campaign for new IT system capabilities so that the benefits can be reaped by all customers to save time and energy, Anand added.

Some of the services will be launched on green channel with end-to-end processing at customer level itself without manual intervention from insurer's office. All the features and services will be launched in a phased manner spread over next three months.