LIC, Mysore, to go paperless by Dec

The Mysore division of the Life Insurance Corporation (LIC) will go paperless by November-December, enabling customers to access their policy details and make payments anywhere, anytime.

All the 1.9 lakh policies will be scanned and placed online to be accessed by the policy holders, thus avoiding the present system of maintaining paper dockets.

After the introduction of anywhere online service, they can obtain online receipts for payments and for Income Tax purposes, take loans, effect changes in address, and have other facilities without going to the branch office.

At present, a policy holder can pay the premium anywhere in the country and obtain a statement report.

Senior divisional manager Jyotikumar Sen said metropolitan cities were provided with the anytime, anywhere online facility in the first phase. Mysore being a B-class city, the facility is being introduced now. "We have tied up with Hewlett-Packard. The infrastructure is ready," he said.

All the 2,048 LIC branches in the 105 divisions of the six zones in the country will be networked in about three years.

The Mysore division comprises Mysore, Mandya, Chamarajanagar, Hassan and Kodagu districts. It has 22 branches and would open three satellite branches soon.

Highlighting the division's achievements on the eve of LIC's 51st anniversary, Sen said as on August 15, 2007, it sold 1,40,487 policies and collected Rs 110.37 crore of first premium income showing a growth rate of 116.09 per cent on policies and 59.44 per cent on premium. The dropout rate after the first premium payment was between 10 per cent and 15 per cent.