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  • Business Today

    INSURANCE

    Mar 18, 2021 3 minutes

    Best Life Insurance Provider of the Year — LIFE INSURANCE CORPORATION

    M.R. Kumar, Chairman, LIC

    The life insurance behemoth held on to its pole position again. Its new business market share rose 3.86 per cent to 68.76 per cent in FY20 as it prepares itself for an IPO.

    M.R. Kumar, Chairman, LIC, focused on three key areas during the Covid crisis. “We focused on claims settlement, especially related to Covid, and generating more digital payments for smooth cash flow,” says Kumar.

    For insurance agents, LIC created an application called Ananda, an end-to-end platform for selling insurance policies. Though overall premium

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