LIC to develop customised service for 'high-end' clients

Gearing up to meet the growing competition from the private insurers, LIC has decided to develop a customised service model for high-end customers.

NEW DELHI: Gearing up to meet the growing competition from the private insurers, the state-owned Life Insurance Corporation (LIC) has decided to develop a customised service model for high-end customers.

The proposed service model will be developed keeping in view the needs of high-premium paying customers, the LIC said, while inviting expression of interest (EoI) from leading domestic and global consultants.

The effort is aimed at consolidating the position of the public insurer among the high-end customers by providing them value added services.

The consultants would design the service model keeping in mind the emerging competition in the sector and are required to submit their bids by February 13, LIC said.

The consultancy firm will be required to design "the right model of servicing and the corresponding appropriate organisational structure for differentiated customer segments", the corporation said.

LIC's decision to develop the new model follows the survey conducted by the corporation about the needs and requirements of "high premium paying" customers.

"These big city customers expects customised services, high quality contact and high quality dissemination of information", the survey by LIC found.

"The corporation intends to explore the possibility of creation of an appropriate structure, within its overall organisational structure, that can offer appropriately designed services to the high-end segment", it said.
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