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LIC Embraces Digital Future for 'Insurance for All'
18 Jan
Summary
- M Nagaraju urged LIC to adopt digital marketing and a mobile-first strategy.
- LIC's stability is crucial for India's overall financial stability.
- A strategic shift towards high-growth non-participating products is underway.
Financial Services Secretary M Nagaraju emphasized on January 17, 2026, the necessity for LIC to adopt digital marketing and a mobile-first strategy. This push is vital for realizing the national objective of ensuring 'insurance for all' citizens across India. Nagaraju's directives were made during LIC's strategy meet in Mumbai.
He underscored LIC's systemic importance, designating it a Domestic Systemically Important Insurer (D-SII). This status, conferred by the IRDAI, carries significant responsibility, as LIC's financial stability directly mirrors India's own economic health. The organization manages a consolidated AUM of Rs 57.23 lakh crore.
The strategy meet also addressed a product shift towards high-growth non-participating products. Nagaraju stressed the importance of improving persistency ratios, especially for low-ticket policyholders, through persistent follow-up and concerted efforts to expand insurance coverage nationwide.
