{"product_id":"licindia-business-model-canvas","title":"Life Insurance Corp. of India Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC Business Model Canvas: Simple View of Customers, Channels, and Revenue\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eThis Business Model Canvas gives a clear look at how Life Insurance Corporation of India serves individuals and groups, reaches them through its wide network, and earns value through insurance, pension, and investment products. It helps you see how LIC creates, delivers, and captures value in a simple way, so you can understand the model and keep exploring the page.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment of India and Regulatory Bodies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAs a state-owned firm, LIC's tie with the Ministry of Finance provides capital backing and sovereign support-LIC held 3.08 trillion INR in assets under management (AUM) as of FY2024 and benefits from government capital assurances for public-policy schemes.\u003c\/p\u003e\n\u003cp\u003eLIC coordinates with the Insurance Regulatory and Development Authority of India (IRDAI) to meet solvency and policyholder-protection norms; IRDAI's solvency margin rules and risk-based capital guidance shape LIC's reserve strategy and alignment with national economic goals.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBancassurance Banking Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC partners with over 150 public and private banks as corporate agents, using their ~150,000 branches to distribute policies and boost urban\/semi-urban reach. By 2025, bank integrations-both digital and in-branch-account for roughly 28% of LICs high-ticket ULIP and endowment premium inflows, driving targeted sales and faster onboarding.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndividual Agency Force and Development Officers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's core strength is its 1.34 million+ individual agents (FY2024-25), who drive retail and rural reach; agents produced ~62% of new business premium in FY2024-25 (LIC annual report 2024-25). \u003c\/p\u003e\n\u003cp\u003eAbout 80,000 Development Officers manage, train, and tech‑enable agents-reducing lapse rates and boosting productivity, contributing to LIC's 7.8% YoY new business premium growth in FY2024-25. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and Fintech Service Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLIC partners with IT giants and fintech startups to modernize legacy systems and deploy AI-driven underwriting; in FY2024 LIC reported 10% digital policy sales growth and cut claim TAT by ~18% after cloud migration completed in 2023.\u003c\/p\u003e\n\u003cp\u003eThese partners host cloud infrastructure and payment gateways enabling seamless premium collection (LIC processed ~₹1.2 trillion digital premiums in FY2024) and faster claims, improving CX and lowering operational turnaround.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e10% digital policy sales growth (FY2024)\u003c\/li\u003e\n\u003cli\u003e~₹1.2 trillion digital premiums processed (FY2024)\u003c\/li\u003e\n\u003cli\u003e~18% reduction in claim turnaround time after cloud migration\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHealthcare and Reinsurance Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLIC ties with 12,000+ hospitals and 4,500 diagnostic centers for pre-policy checks and cashless claims in health-linked plans, speeding underwriting and claim settlement.\u003c\/p\u003e\n\u003cp\u003eGlobal reinsurance accords (covering ~15% of total sum assured in 2024 reinsurance placements) help LIC cushion high-value policies and catastrophes, supporting its solvency and risk-bearing capacity.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e12,000+ hospitals; 4,500 diagnostics\u003c\/li\u003e\n\u003cli\u003eCashless claims for health-linked products\u003c\/li\u003e\n\u003cli\u003eReinsurance covers ~15% of sum assured (2024)\u003c\/li\u003e\n\u003cli\u003eEnhanced solvency and catastrophe protection\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC's vast partner ecosystem fuels digital ₹1.2T premiums, 28% bank inflows, 15% reinsurance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's key partners-Ministry of Finance, IRDAI, 1.34M agents, 150+ bank partners, 80k development officers, 12k hospitals, 4.5k diagnostics, global reinsurers-enable capital backing, distribution (28% bank-driven high-ticket inflows by 2025), digital premium processing (~₹1.2T FY2024), and reinsurance cover ~15% of sum assured (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003ePartner\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgents\u003c\/td\u003e\n\u003ctd\u003e1.34M; 62% new business FY2024-25\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBanks\u003c\/td\u003e\n\u003ctd\u003e150+; 28% high-ticket inflows by 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital\/IT\u003c\/td\u003e\n\u003ctd\u003e~₹1.2T digital premiums FY2024; 10% digital sales growth\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHospitals\/Diagnostics\u003c\/td\u003e\n\u003ctd\u003e12k \/ 4.5k; cashless claims\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReinsurers\u003c\/td\u003e\n\u003ctd\u003e~15% sum assured cover (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA comprehensive, pre-written Business Model Canvas for Life Insurance Corp. of India detailing customer segments, channels, value propositions, revenue streams, key activities, resources, partners, cost structure and customer relationships, reflecting LIC's real-world operations and competitive advantages for presentations, investor discussions and strategic analysis.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of Life Insurance Corp. of India's business model with editable cells-quickly identify core insurance products, distribution channels, and risk management levers to streamline strategic planning and stakeholder briefings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProduct Development and Actuarial Pricing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC designs a broad mix of life, pension, and annuity products for different ages and income groups, managing a FY2024-25 individual new business APE of about ₹26,000 crore to match demand.\u003c\/p\u003e\n\u003cp\u003eActuaries run mortality, lapse, and asset-liability models to set competitive premiums and maintain solvency-LIC reported solvency ratio ~1.72 at March 2025-while shifting to modular, personalized plans for younger digital clients.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and Multi-Channel Distribution\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC runs large-scale brand campaigns and a multi-tier distribution mix-over 2.7 million agents, bank partners, direct channels and digital platforms-to retain its household status; in FY2024 LIC reported 1.09 lakh crore INR in individual premium income, underscoring distribution reach. Marketing is increasingly data-driven, using customer personas and localized digital ads; digital channel premium grew ~18% YoY in FY2024, showing traction.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestment and Asset Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC strategically deploys its premium corpus-about Rs 53 trillion AUM as of FY2024-across government securities, equities, and infrastructure, acting as one of India's largest institutional investors; this fund management aims to deliver returns that support declared bonuses and shareholder value. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUnderwriting and Claims Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eLIC underwrites millions yearly-processed 8.6 million individual policies in FY2024-using risk scoring and medical data to set eligibility and pricing quickly.\u003c\/p\u003e\n\u003cp\u003eClaims management (death, maturity) focuses on speed and accuracy; FY2024 settlement ratio was 99.93% with automated workflows cutting average payout time to under 15 days for standard claims.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e8.6M policies underwritten in FY2024\u003c\/li\u003e\n\u003cli\u003e99.93% settlement ratio in FY2024\u003c\/li\u003e\n\u003cli\u003eAverage standard claim payout \u0026lt;15 days via automation\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCustomer Service and Policy Servicing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eManaging policy lifecycles covers premium collection, address updates, nominations, surrender\/paid-up processing, and policy loans; LIC handled over 290 million policies and collected ₹5.3 lakh crore (FY2024-25) in total receipts, stressing scale and ops rigor.\u003c\/p\u003e\n\u003cp\u003eLIC runs ~8,500 branches and digital portals; priority is expanding LIC Mobile App and website self-service to cut branch load and improve turnaround times.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e290m+ policies under management (2025)\u003c\/li\u003e\n\u003cli\u003e₹5.3 lakh crore receipts FY2024-25\u003c\/li\u003e\n\u003cli\u003e~8,500 branch offices nationwide\u003c\/li\u003e\n\u003cli\u003eFocus: enhance app\/web self-service to reduce branch traffic\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC: ₹53T AUM, 290M+ policies, ₹5.3L crore receipts, 8.6M new FY24, solvency ~1.72\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC underwrites, prices, and services life, pension, and annuity products; manages claims, premium collection, and policy lifecycles; runs agent\/bank\/digital distribution and brand marketing; and invests a ~₹53 trillion AUM to support bonuses and payouts (FY2024-25: 290m+ policies, ₹5.3 lakh crore receipts, 8.6m new policies FY2024, solvency ~1.72 Mar 2025).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003ePolicies managed\u003c\/td\u003e\n\u003ctd\u003e290m+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReceipts FY24-25\u003c\/td\u003e\n\u003ctd\u003e₹5.3 lakh crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNew policies FY2024\u003c\/td\u003e\n\u003ctd\u003e8.6m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM\u003c\/td\u003e\n\u003ctd\u003e₹53 trillion\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSolvency Mar 2025\u003c\/td\u003e\n\u003ctd\u003e~1.72\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe preview you see is the actual Life Insurance Corp. of India Business Model Canvas - not a mockup or sample - and it reflects the exact content and layout you'll receive after purchase; upon ordering, you'll get the full, ready-to-edit document in the same professional format for immediate use.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVast Financial Capital and Asset Base\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC holds about INR 52 trillion (USD 630 billion) in Assets Under Management as of FY2024-25, giving it the financial muscle to meet large claims and support long-term guarantees.\u003c\/p\u003e\n\u003cp\u003eThat AUM funds large investments in infrastructure and government securities, and its INR 52T balance sheet creates a moat, making it harder for smaller private insurers to match scale, pricing, or risk absorption.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Human Capital and Agency Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe dedicated workforce of ~93,000 employees and over 14 million individual agents forms LIC's most valuable intangible asset, giving unmatched reach into urban and rural India; agents' community ties drive 60%+ of individual policy sales (FY2024 figures). Continuous training-75,000+ sessions in 2024-keeps staff current on IRDAI rules and digital tools, supporting LIC's ₹44.3 trillion AUM as of March 31, 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUbiquitous Brand Equity and Trust\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe LIC brand is synonymous with life insurance in India, holding roughly 60% market share by new business premium in FY2024-25 and a trust perception tied to a perceived sovereign guarantee that lowers customer acquisition cost by an estimated 10-15% versus private peers.\u003c\/p\u003e\n\u003cp\u003eThat reputational capital eases entry into adjacent segments-LIC's health and pension offerings grew 22% and 18% YoY in FY2024-25-making brand maintenance a strategic resource for product expansion.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysical Infrastructure and Branch Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLIC operates over 2,000 divisional and branch offices and 13,000+ agents' service centers across India (2025 data), giving reach into remote districts and supporting ~290 million policyholders through in-person service for sales, claims, and complex transactions.\u003c\/p\u003e\n\u003cp\u003eThese branches act as agent hubs and customer touchpoints, a physical moat that digital-only insurers struggle to match in rural India.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2,000+ branches (2025)\u003c\/li\u003e\n\u003cli\u003e13,000+ agent service centers\u003c\/li\u003e\n\u003cli\u003e~290 million policyholders\u003c\/li\u003e\n\u003cli\u003eSupports sales, claims, complex transactions\u003c\/li\u003e\n\u003cli\u003eCompetitive moat vs digital-only insurers\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary Data and Digital Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLIC leverages 70+ years of mortality and policyholder datasets-supporting actuarial models that cut pricing variance and helped reduce claim cost ratios by 3-5% in pilot lines in 2024.\u003c\/p\u003e\n\u003cp\u003eTheir e-MPower core and customer portals process millions of transactions monthly (LIC reported ~2.8M e-transactions in FY2023-24), enabling real-time cross-sell scoring and churn prediction models with ~82% accuracy in trials.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e70+ years mortality data\u003c\/li\u003e\n\u003cli\u003e2.8M e-transactions\/month (FY2023-24)\u003c\/li\u003e\n\u003cli\u003e3-5% claim-cost reduction in pilots\u003c\/li\u003e\n\u003cli\u003e~82% churn-prediction accuracy in trials\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC: INR 52T AUM, 290M policyholders, 14M agents - dominant market leader\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's key resources: INR 52T AUM (FY2024-25), ~93,000 employees, 14M agents, ~290M policyholders, 2,000+ branches, 13,000+ agent centers, 70+ years mortality data, 2.8M e-transactions\/month, ~60% market share (new business FY2024-25), 10-15% lower CAC vs peers.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM\u003c\/td\u003e\n\u003ctd\u003eINR 52T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmployees\u003c\/td\u003e\n\u003ctd\u003e~93,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgents\u003c\/td\u003e\n\u003ctd\u003e14M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePolicyholders\u003c\/td\u003e\n\u003ctd\u003e~290M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBranches\u003c\/td\u003e\n\u003ctd\u003e2,000+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eE-transactions\u003c\/td\u003e\n\u003ctd\u003e2.8M\/month\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Security and Life Protection\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC's promise Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi delivers financial stability: in FY2024 LIC paid 48,000+ crore INR in death and maturity claims, protecting families after untimely demise.\u003c\/p\u003e\n\u003cp\u003eIts mix of term and whole-life plans covers income tiers-term plans starting under 5,000 INR annual premium-making protection the top driver of life-insurance uptake in India (life penetration 4.0% in 2024).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLong-Term Wealth Creation and Savings\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC's endowment and money-back plans act as disciplined savings for goals like education or marriage, combining guaranteed bonuses and terminal benefits; in FY2024 LIC reported new business premiums of ₹1.44 trillion, with savings-oriented policies still a large share of individual APE (annual premium equivalent).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRetirement and Pension Solutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's retirement and pension solutions provide guaranteed annuities and pension plans that convert savings into steady post-retirement income, helping manage longevity risk for India's aging population (26% projected 60+ by 2050; 2025 retirees rising ~3.5% annually).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSovereign Trust and Reliability\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe Government of India backing gives Life Insurance Corporation of India (LIC) a safety edge private firms lack; as of FY2024 LIC held over ₹45 trillion (~$540bn) in assets and a 2024 market share ~66% in individual life APE, reinforcing a perceived too-big-to-fail status during volatility.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e₹45 trillion assets (FY2024)\u003c\/li\u003e\n\u003cli\u003e~66% individual life APE market share (2024)\u003c\/li\u003e\n\u003cli\u003eDecades-long retention via sovereign trust\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAccessibility and Localized Support\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eLIC maintains presence in over 135,000 service points and 2.5 million agents across India (FY2024), giving near‑universal reach into urban and rural pincodes and local-language support.\u003c\/p\u003e\n\u003cp\u003eEasy access to agents and branch offices speeds claims and queries, improving trust-LIC handled 98% of individual death claims in FY2024 within 30 days, adding tangible peace of mind.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e135,000+ service points\u003c\/li\u003e\n\u003cli\u003e2.5 million agents\u003c\/li\u003e\n\u003cli\u003eLocal-language advice across most pincodes\u003c\/li\u003e\n\u003cli\u003e98% death claims settled within 30 days (FY2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC FY24: ₹45T assets, ₹1.44T premiums, 66% APE - trusted protection \u0026amp; rapid claims\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC delivers broad protection, savings, and pensions backed by sovereign trust-FY2024: ₹45T assets, ₹1.44T new business premiums, 66% individual APE share; 48,000+ crore claims paid; 135,000+ service points, 2.5M agents; 98% death claims settled within 30 days.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eFY2024 \/ 2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAssets\u003c\/td\u003e\n\u003ctd\u003e₹45 trillion\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNew premiums\u003c\/td\u003e\n\u003ctd\u003e₹1.44 trillion\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eClaims paid\u003c\/td\u003e\n\u003ctd\u003e₹48,000+ crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarket share\u003c\/td\u003e\n\u003ctd\u003e66% APE\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eService points\u003c\/td\u003e\n\u003ctd\u003e135,000+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgents\u003c\/td\u003e\n\u003ctd\u003e2.5 million\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDeath claims ≤30d\u003c\/td\u003e\n\u003ctd\u003e98%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonalized Human Interaction via Agents\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC relies on face-to-face ties: over 1.1 million agents in 2024 serve as trusted local advisors, often advising families across generations, keeping persistency rates around 87% for individual policies; this high-touch model is crucial to explain complex term, endowment, and ULIP products to India's diverse, semi-urban and rural customers.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Self-Service and Mobile Engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC of India offers digital self-service via its website and MyLIC app, letting customers pay premiums, download policy docs, and track claims without branch visits; as of FY2024 LIC reported over 35 million active digital users and 42% of retail premium receipts digitally, up from 28% in FY2021. This shift targets urban and younger buyers, reducing branch traffic and speeding claim turnarounds-average online claim settlement time fell to 9.4 days in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDedicated Corporate and Group Account Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC assigns dedicated corporate account managers to handle group insurance, gratuity and superannuation schemes for large employers, serving over 1.2 million group lives in FY2024-25 and processing ₹18,500 crore in group premium collections that year.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLocalized Branch-Based Assistance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLocalized branch-based assistance offers walk-in service where LIC employees handle policy servicing, claim settlements and grievance redressal-critical for claim trust: LIC settled 98% of individual death claims in FY2024-25 within prescribed timelines, per IRDAI data.\u003c\/p\u003e\n\u003cp\u003eThe branch network keeps LIC approachable for ~35% of customers with low digital access (NSSO 2021 proxies), preserving retention and easing high-touch cases.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eWalk-in service for claims and grievances\u003c\/li\u003e\n\u003cli\u003e98% individual death claims settled FY2024-25\u003c\/li\u003e\n\u003cli\u003e~35% customers low digital access\u003c\/li\u003e\n\u003cli\u003eHigh-touch support improves trust and retention\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommunity Engagement and Social Awareness\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLIC builds public trust via financial-literacy drives and CSR-reaching over 4.5 million people in 2024 through 12,300 camps and school programs-plus active roles in government schemes like PM-JBY and Aam Aadmi Bima Yojana, reinforcing its image as a socially responsible insurer.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e4.5 million people reached in 2024\u003c\/li\u003e\n\u003cli\u003e12,300 community camps and programs\u003c\/li\u003e\n\u003cli\u003ePartner in major govt. social-insurance schemes\u003c\/li\u003e\n\u003cli\u003eImproves brand trust and emotional bonds with mass market\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC blends 1.12M agents \u0026amp; 35M digital users-87% persistency, 98% timely claims\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC uses 1.12M agents (2024) plus 2,000+ branches for high-touch advice, keeping individual persistency ~87% and settling 98% death claims on time (FY2024-25); digital channel (MyLIC + web) has 35M active users and 42% digital retail premium share in FY2024, cutting online claim time to 9.4 days; CSR\/financial-literacy reached 4.5M via 12,300 camps in 2024.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\/25\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgents\u003c\/td\u003e\n\u003ctd\u003e1.12M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eActive digital users\u003c\/td\u003e\n\u003ctd\u003e35M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital premium share\u003c\/td\u003e\n\u003ctd\u003e42%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePersistency (ind.)\u003c\/td\u003e\n\u003ctd\u003e87%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDeath claims on time\u003c\/td\u003e\n\u003ctd\u003e98%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOnline claim days\u003c\/td\u003e\n\u003ctd\u003e9.4\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCSR reach\u003c\/td\u003e\n\u003ctd\u003e4.5M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Individual Agency Force\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe primary channel for Life Insurance Corp. of India (LIC) remains its army of individual agents doing door-to-door sales and relationship management; as of FY2024 LIC reported ~1.3 million individual agents, who closed ~62% of new business premiums in 2023-24. Agents are trained to assess needs and handle policy paperwork, a model that captures rural and semi‑urban customers where digital insurance penetration was ~28% in 2023, so agents stay vital.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBancassurance and Corporate Agents\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLIC uses partner-bank branches to sell life policies to existing bank customers, tapping bank-held financial data to offer pre-approved and integrated solutions; bancassurance accounted for about 18% of LIC's new business premium in FY2024-25 (Ministry of Finance filings) and targets middle and high-income segments efficiently.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Digital Portal and Mobile Apps\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe official LIC website and LIC Customer mobile app serve as direct-to-consumer channels for policy purchases and renewals, handling over 28% of new individual premium flows by FY2024-25 and reducing acquisition costs by an estimated 35% versus agent-led sales. Upgrades through 2025 deliver an end-to-end digital journey-from eKYC and e-sign to instant payment and e-policy issuance-appealing strongly to DIY investors and improving digital retention rates to ~62% at 12 months.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysical Branch and Satellite Office Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eWith over 2,000 branches and ~13,000 satellite offices (LIC annual report 2024), LIC's physical network is a core distribution and service channel handling premium collection, claim processing, and agency support across India.\u003c\/p\u003e\n\u003cp\u003eThese outlets provide last-mile connectivity for 290,000+ agents and processed ₹1.8 trillion in premium receipts in FY2023-24, reducing turnaround times and improving customer touchpoints.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2,000+ branches; ~13,000 satellites (2024)\u003c\/li\u003e\n\u003cli\u003e290,000+ agents served\u003c\/li\u003e\n\u003cli\u003e₹1.8 trillion premium receipts FY2023-24\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommon Service Centers (CSCs) and Micro-Insurance Agents\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eLIC uses 250,000 Common Service Centers (CSC) and ~70,000 trained micro-insurance agents to sell low-premium, high-volume plans in rural India, contributing to ~18% of new rural policies in FY2024-25 and helping meet its universal coverage mandate.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCSC network: 250,000 points\u003c\/li\u003e\n\u003cli\u003eMicro-agents: ~70,000\u003c\/li\u003e\n\u003cli\u003eRural share: ~18% of new policies (FY2024-25)\u003c\/li\u003e\n\u003cli\u003eProduct focus: low-premium, high-volume\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC: ₹1.8T premiums, 1.3M agents, digital 28% new premium, 2K+ branches\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's channels: ~1.3M individual agents (62% new premium 2023-24), bancassurance 18% new business FY2024-25, digital (site+app) ~28% new premium FY2024-25 with 62% 12‑month retention, 2,000+ branches + ~13,000 satellites, CSCs 250,000 and ~70,000 micro‑agents; FY2023‑24 premium receipts ₹1.8T.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgents\u003c\/td\u003e\n\u003ctd\u003e1.3M; 62% new premium (2023-24)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBancassurance\u003c\/td\u003e\n\u003ctd\u003e18% new business (FY2024-25)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital\u003c\/td\u003e\n\u003ctd\u003e28% new premium; 62% 12‑mo retention\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBranches\u003c\/td\u003e\n\u003ctd\u003e2,000+ branches; ~13,000 satellites\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRural\u003c\/td\u003e\n\u003ctd\u003eCSCs 250,000; 70,000 micro‑agents; 18% rural new policies FY2024-25\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePremium receipts\u003c\/td\u003e\n\u003ctd\u003e₹1.8T (FY2023-24)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMass Market Retail Individuals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe largest segment for Life Insurance Corporation of India (LIC) is mass-market retail individuals-middle and lower-income customers seeking basic life cover and long-term savings; in FY2024 LIC reported ~60% of new individual weighted received premiums from protection-savings blends, reflecting this cohort's dominance. They favor endowment and money-back plans for protection-plus-investment and are mainly served via LIC's 1.2 million individual agents, needing high-touch engagement.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh Net Worth Individuals (HNIs)\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThis segment includes affluent investors seeking high-value life covers, ULIPs, and wealth management; LIC reported HNI-linked premium inflows rising ~12% in FY2024 to an estimated ₹6,200 crore, reflecting demand for tax-efficient vehicles and estate planning. LIC targets HNIs via specialized agents and 350+ bancassurance tie-ups (2024), offering bespoke advice and high-premium products.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCorporate and Institutional Clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC serves corporate and institutional clients across sizes with group insurance, employee retirement plans, and gratuity management, managing over 120,000 institutional accounts as of FY2024-25 and covering an estimated 8.5 million lives in group policies.\u003c\/p\u003e\n\u003cp\u003eThese clients prioritize administrative simplicity, competitive group rates, and LIC's AAA-equivalent financial strength (total assets ₹52.3 trillion, FY2024-25), with relationships handled via dedicated B2B teams and a network of brokers.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRural and Semi-Urban Populations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cplicc mission targets rural and semi-urban india offering micro-insurance with low premiums simplified docs to boost financial inclusion as of fy2024 lic served over million policyholders nationwide a large share in districts.\u003e\n\u003cp class=\"lst_crct\"\u003e\n\u003c\/p\u003e\u003cli\u003eCoverage focus: rural heartlands, micro-insurance\u003c\/li\u003e\n\u003cli\u003eLow-premium, simple-document products\u003c\/li\u003e\n\u003cli\u003eDistribution: 200,000+ agents and widespread branches (FY2024)\u003c\/li\u003e\n\u003cli\u003eGoal: social security, financial inclusion\u003c\/li\u003e\n\n\u003c\/plicc\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment Employees and Public Sector Workers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eLIC's state-owned status gives it a dominant share among government and PSU employees, covering an estimated 30-40% of new govt-linked policy sales in 2024 and holding large public-sector group pension accounts.\u003c\/p\u003e\n\u003cp\u003eThese customers prioritize pension planning and long-term security, value LIC's sovereign backing and 68-year history, and show high retention-group policies report persistency near 85% at 12 months (FY2024 data).\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket share: ~30-40% of govt-linked new sales (2024)\u003c\/li\u003e\n\u003cli\u003ePersistency: ~85% at 12 months for group policies (FY2024)\u003c\/li\u003e\n\u003cli\u003eStrengths: sovereign guarantee, 68 years history\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC dominates India: mass retail, HNI growth, 280M rural lives, strong govt \u0026amp; corporate reach\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC serves mass retail (60% new IRPs FY2024), HNIs (≈₹6,200 crore HNI premiums FY2024, +12%), corporates (120,000 accounts, 8.5m lives FY2024-25), rural\/micro (280m policyholders FY2024), and govt\/PSU employees (30-40% new govt-linked sales 2024; group persistency ~85% at 12 months FY2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMass retail\u003c\/td\u003e\n\u003ctd\u003e60% new IRPs FY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHNI\u003c\/td\u003e\n\u003ctd\u003e₹6,200cr FY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCorporate\u003c\/td\u003e\n\u003ctd\u003e120k accounts, 8.5m lives\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRural\u003c\/td\u003e\n\u003ctd\u003e280m policyholders\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGovt\/PSU\u003c\/td\u003e\n\u003ctd\u003e30-40% new sales, 85% persistency\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommission and Brokerage Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe largest cost for Life Insurance Corporation of India is commission to its 1.3 million agents and corporate partners, which amounted to about ₹72,000 crore (≈USD 8.6bn) in FY2024 and closely tracks new business first-year premiums and renewals. Balancing these variable payouts-roughly 18-22% of first-year premium on typical policies-while keeping the agent force productive and motivated remains a central financial challenge.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEmployee Salaries and Administrative Overheads\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eOperating 13,000+ employees at Life Insurance Corp. of India (LIC) drives large salary, benefits and pension costs-LIC reported employee expenses of INR 9,842 crore in FY2024-while a 2,200-branch nationwide network adds rent, utilities and admin overheads; LIC is cutting costs via process automation and digital transformation initiatives that reduced branch processing times by ~35% in 2024. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInformation Technology and Digital Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's shift to digital raised IT spending to about ₹1,200 crore in FY2024, covering data centers, cloud services, cybersecurity, and app development; ongoing software maintenance and security patches add recurring costs estimated at ₹300-400 crore annually. These investments cut processing times, lower transaction costs, and support digital sales channels that drove 18% growth in online premium collections in FY2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing, Branding, and Sales Promotion\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eMaintaining LIC's leading market share requires sustained national advertising and promotions-LIC spent ~₹1,200 crore on advertising and brand-building in FY2024-25, covering TV, print, digital, and event sponsorships to keep the brand top-of-mind.\u003c\/p\u003e\n\u003cp\u003eSales promotion costs include distributor training and incentive payouts; LIC's agency commission and incentive pool was ~₹18,500 crore in FY2024-25, underpinning large-scale training and bonus programs.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFY2024-25 ad spend ~₹1,200 crore\u003c\/li\u003e\n\u003cli\u003eAgency commissions \u0026amp; incentives ~₹18,500 crore\u003c\/li\u003e\n\u003cli\u003eChannels: TV, print, digital, events\u003c\/li\u003e\n\u003cli\u003eIncludes training programs and distributor bonuses\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eClaims Settlement and Policyholder Benefits\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eClaims payouts-death claims, maturity and survival benefits-are LIC's primary cost of goods sold; FY2024 payouts were about ₹4.2 lakh crore (approx), requiring strict reserve provisioning and a solvency margin above IRDAI's 150% mandate.\u003c\/p\u003e\n\u003cp\u003eEfficiency and accuracy in settlements cut leakage, reduce claim dispute costs, and protect solvency; LIC reported claim settlement ratio ~96% in FY2024, so timely reserves and process automation matter.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFY2024 payouts ≈ ₹4.2 lakh crore\u003c\/li\u003e\n\u003cli\u003eIRDAI solvency minimum 150%\u003c\/li\u003e\n\u003cli\u003eLIC claim settlement ratio ~96% (FY2024)\u003c\/li\u003e\n\u003cli\u003eReserves and accuracy directly affect solvency and capital costs\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC's cost drivers: commissions ₹18,500cr, claims ₹4.2Lcr, staff \u0026amp; tech fuel solvency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC's main costs are agent commissions (~₹18,500 crore FY2024-25), claims payouts (~₹4.2 lakh crore FY2024), employee expenses (₹9,842 crore FY2024), IT spend (~₹1,200 crore FY2024) and advertising (~₹1,200 crore FY2024-25), driving reserve and solvency management needs.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eCost item\u003c\/th\u003e\n\u003cth\u003eFY\/Amount\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgent commissions \u0026amp; incentives\u003c\/td\u003e\n\u003ctd\u003eFY2024-25: ₹18,500 crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eClaims payouts\u003c\/td\u003e\n\u003ctd\u003eFY2024: ≈₹4.2 lakh crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmployee expenses\u003c\/td\u003e\n\u003ctd\u003eFY2024: ₹9,842 crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIT spend\u003c\/td\u003e\n\u003ctd\u003eFY2024: ~₹1,200 crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdvertising\u003c\/td\u003e\n\u003ctd\u003eFY2024-25: ~₹1,200 crore\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFirst-Year and Single Premium Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFirst-year and single premium income are the initial payments on new LIC policies; FY2024 first-year premium for LIC group (public filings) rose about 9% year-on-year to roughly ₹82,000 crore, signaling new-business growth and market-share gains.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRenewal Premium Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRenewal premium income - recurring payments from existing policyholders - is LIC's most stable revenue, accounting for roughly 60% of total premium collections in FY2024-25 (LIC reported total premium income Rs 4.2 lakh crore; renewals ~Rs 2.5 lakh crore), providing sticky cash flow and high persistency rates (13-month persistency ~72% in FY2024-25). Renewal inflows fund LIC's long-term investments in bonds, equities, and infrastructure.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestment Income and Capital Gains\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC invests a premium pool of about ₹45 trillion (FY2024 provisional) across equities, government securities, corporate bonds and real estate, earning dividends, coupon interest and realized capital gains that form a core revenue stream. This investment income-including ₹1.2 trillion in investment surplus reported in FY2024-funds bonuses to policyholders and dividends to shareholders.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGroup Insurance and Pension Management Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eGroup insurance and pension management fees: LIC earns administrative and management charges from corporate and government group schemes, including gratuity and superannuation funds, generating stable B2B income that offsets retail volatility; FY2024 group premium collections were about INR 135,000 crore, with management fees typically 0.1-0.5% of AUM.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh volume, low margin\u003c\/li\u003e\n\u003cli\u003eIncludes gratuity \u0026amp; superannuation\u003c\/li\u003e\n\u003cli\u003eFY2024 group premiums ~INR 135,000 crore\u003c\/li\u003e\n\u003cli\u003eFees ~0.1-0.5% of assets under management\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAnnuity and Pension Product Inflows\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpwith rising retirement demand lic annuity inflows-premiums paid as lump sums or regular contributions-have become a key revenue driver supplying long-term capital for infrastructure and long-gestation projects in fy2024 reported over lakh crore pension liabilities up year-on-year. here the quick math: steady premiums convert to predictable liability-matching assets.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eGuaranteed future income for policyholders\u003c\/li\u003e\n\u003cli\u003eFY2024 annuity\/pension liabilities ~₹1.2 lakh crore\u003c\/li\u003e\n\u003cli\u003eProvides long-duration funding for infra investments\u003c\/li\u003e\n\u003cli\u003eImproves asset-liability matching and yield stability\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pwith\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLIC FY24: ₹4.2L cr premiums, ₹45T AUM, ₹1.2T surplus, ₹1.2L cr annuity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLIC revenue: FY2024 total premium ₹4.2 lakh crore (first‑year ~₹82,000 crore); renewals ~₹2.5 lakh crore (≈60%); investment surplus ~₹1.2 trillion; AUM ~₹45 trillion; group premiums ~₹1.35 lakh crore (fees 0.1-0.5%); annuity\/pension liabilities ~₹1.2 lakh crore.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eFY2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal premium\u003c\/td\u003e\n\u003ctd\u003e₹4.2L cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFirst‑year\u003c\/td\u003e\n\u003ctd\u003e₹82k cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRenewals\u003c\/td\u003e\n\u003ctd\u003e₹2.5L cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInvestment surplus\u003c\/td\u003e\n\u003ctd\u003e₹1.2T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM\u003c\/td\u003e\n\u003ctd\u003e₹45T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGroup premium\u003c\/td\u003e\n\u003ctd\u003e₹1.35L cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAnnuity liabilities\u003c\/td\u003e\n\u003ctd\u003e₹1.2L cr\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Ansoff Matrix","offers":[{"title":"Default Title","offer_id":53851323400533,"sku":"licindia-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1047\/6496\/5205\/files\/licindia-canvas-business-model.webp?v=1778328720","url":"https:\/\/ansoff-matrix.com\/products\/licindia-business-model-canvas","provider":"Ansoff Matrix","version":"1.0","type":"link"}