South Central Zone’s Total Premium collection reaches 50,000 crores for the first time.

Sri T.C.Suseel Kumar, Zonal Manager, South Central Zone (comprising of three states of Telangana, Andhra Pradesh and Karnataka), while releasing the performance highlights of the Zone informed that the Zone has collected the highest ever total premium of Rs. 50,000 Crores during the Financial Year 2017-18, showing a growth of 7% YoY.

New Business Premium (including Pension & Group Insurance) clocks  a healthy growth of 13%.

Highlighting the New Business Performance of the Zone, Mr. Suseel Kumar told that the Zone could procure a  new business premium of Rs. 5,574 crores covering 29.73 lakh policies, under conventional insurance segment during the Financial Year 2017-18.  Similarly, the Pension and Group Insurance segment has procured 15,552 crore covering 75.64 lives.

LIC South Central Zone sets new record in Social Security Scheme:

Mr. Suseel Kumar, proudly announced that the Zone could secure a Mega Social Security Scheme (PMJJBY – Chandranna Bima), probably the biggest group scheme ever issued in the world, covering close to 2 crore lives, during the Financial Year 2017-18.  The Honourable Chief Minister of Andhra Pradesh Sri N.Chandra Babu Naidu, handed over the cheque of Rs. 206 crores to LIC Officials at Vijayawada towards premium.  

100% Claim Settlement – a Landmark achievement  of South Central Zone:

LIC South Central Zone settles an average of 10,000 claims per day:

Mr. Suseel Kumar expressed his pleasure in announcing the Zone’s performance relating to Claims Settlement and Customer service.  He told that the Zone could settle 33,36,654 maturity claims for an amount of Rs. 12,458 crore  and settled 1,44,609 death claims for an amount of Rs. 1,777 crore.  The settlement ratios stand at 99.88% and 99.97% respectively.

Mr. Kumar also told that the Zone has occupied a prestigious position in All India,  in reviving the relationship with the customers.  The Zone stood at No. 1 position in All India, by reviving 5,71,752 policies during the Special Revival campaign during the financial year 2017-18.  The South Central Zone also stood at No. 2 position in All India, in enrolling the customers to Corporation’s e-services.

Green Initiatives are on LIC’s priority:

As part of go green initiatives, the South Central Zone has been installing the Solar Power plants in LIC’s own premises in Telangana, AP and Karnataka.  During the recently ended financial year, the Zone could install and commission 7 Grid Interactive Roof Top Solar PV Plans with a capacity of 320 KWp.  With these new plants, the total numbers of such units have gone to 17 with an installed capacity of 660 KWp. The total power generated stands at 5,76,668 units  up to 31.03.18.

LIC South Central Zone contributed to 54 projects under CSR:

LIC’s Golden Jubilee Foundation extends financial assistance to various projects aimed helping the poor, needy and underprivileged strata of the society.  During the current Financial Year, the Foundation has funded 6 such projects in the Zone to the tune of Rs. 100.34 lakhs.  In total, the Foundation has sanctioned 8.21 crore for 54 different projects in the Zone as at 31.03.2018.