Life Insurance Corporation of India (LIC) expects its Entrepreneur Data Management System (EDMS) to be functional in its Berhampur division in Orissa by 2010. The EDMS would enable the public sector life insurer to maintain paperless records of its customers.
LIC is setting up its new branch building here which would run on the EDMS platform and the branch is expected to be operational within a year. LIC had introduced EDMS two years back to enable the setting up of paperless branches across the country.
This system is now in its second phase of implementation and the third phase would be implemented in Orissa.
The proposed new building of LIC in the city would store the records of all the clients of the Berhampur division. These records would be stored in paperless form in the computers.
“We will scan all the records of the customers and the records would be available under one roof. The customers can get all information relating to payment of premiums or getting claims from a single branch”, CH Jakkapannavar, senior divisional manager of LIC’s Berhampur division told Business Standard.
The Berhampur division of LIC has 14 branches catering to 20 lakh customers in ten districts of South Orissa.
“The proposed branch building of LIC which would carry out paperless transactions will have a total built-up area of about 15,000 sq ft. The building is coming up adjacent to LIC’s divisional office. It is being set up at a cost of Rs 8 crore and is expected to be functional within a year”, he added.