LIC Should Continue Focus on Digital Marketing: Nagaraju

Financial Services Secretary M. Nagaraju on Saturday urged Life Insurance Corporation of India (LIC) to continue adopting digital marketing and a mobile-first approach to help achieve the national objective of “insurance for all”.

According to a Finance Ministry statement, Nagaraju emphasized that greater use of digital platforms would enhance outreach, improve customer engagement and expand insurance penetration, especially among underserved sections.

The statement noted that LIC has a consolidated assets under management (AUM) of ₹57.23 lakh crore and delivers a yield of 8.9 per cent on policyholders’ funds, backed by a strong solvency ratio. It added that this large corpus could be leveraged to incentivise the growth of startups and alternative investment funds.

Nagaraju also underlined the importance of improving persistency ratios, particularly among low-ticket policyholders, through sustained efforts and continuous follow-up. Strengthening customer retention, he said, would be crucial for long-term growth and stability of the insurance sector.

The government reiterated that digital adoption and customer-centric initiatives by LIC would play a key role in advancing financial inclusion and meeting India’s insurance coverage goals.