How is LIC Enhancing Insurance Access with Sahaj Insurance Services?
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Synopsis
LIC is teaming up with Sahaj Insurance Services to boost insurance access in rural India. This collaboration aims to educate consumers and improve policy adoption, marking a significant step toward financial inclusion for the underserved.
Key Takeaways
- LIC partners with Sahaj Insurance Services to enhance rural insurance access.
- Focus on education and support for consumers in low-awareness areas.
- Aim to sell 10 crore insurance policies in the first year.
- Access to government-backed insurance and social security schemes.
- Trained professionals will assist with onboarding and claims.
New Delhi, Dec 26 (NationPress) The Life Insurance Corporation of India (LIC) announced a partnership with Sahaj Insurance Services Private Limited on Friday to enhance insurance coverage in rural and semi-urban regions of the nation.
This collaboration will utilize Sahaj’s assisted digital service network to make LIC’s life insurance products and services more accessible. It aims to educate consumers on understanding, managing, and enrolling in policies, especially in regions where insurance knowledge has been limited.
As per the statement, an insurance vertical has been established to provide affordable and comprehensible products, backed by trained professionals who support customers with onboarding, servicing, and claims.
“This partnership will extend our reach into rural and semi-urban areas, allowing more citizens to benefit from the security that LIC offers,” stated Soumendranath Bandyopadhyay, Regional Manager at LIC.
Biswajit Chatterjee, Director of Sahaj Insurance Services, termed this collaboration as a pivotal move towards democratizing insurance access, making it simpler, more accessible, and genuinely inclusive for Bharat.
The initiative is anticipated to heighten awareness, improve policy servicing, and promote broader acceptance of life insurance, contributing to India's overarching financial inclusion and social security goals, as mentioned in the release.
Sahaj centres will also provide access to government-backed insurance and social security schemes, in addition to life and health insurance options, furthering efforts in financial inclusion. The company aims to sell approximately 10 crore insurance policies in its first year, focusing on low premium and highly relevant products tailored for rural and semi-urban households.
Sahaj Insurance Services is a wholly owned subsidiary of Sahaj Retail and part of the Kanoria Foundation initiative.
Point of View
I believe this collaboration between LIC and Sahaj Insurance Services is a vital step towards bridging the insurance gap in rural India. It reflects a commitment to inclusivity and financial literacy, ensuring that even the most underserved communities can benefit from essential insurance services. This initiative aligns with our goal of supporting initiatives that promote social welfare in the nation.
NationPress
08/01/2026
Frequently Asked Questions
What is the purpose of the collaboration between LIC and Sahaj Insurance Services?
The collaboration aims to enhance insurance penetration in rural and semi-urban areas, making LIC's life insurance products more accessible and understandable for consumers.
How many insurance policies does Sahaj aim to sell in the first year?
Sahaj Insurance Services targets selling around 10 crore insurance policies in its first year of operations.
What types of products will be offered through this collaboration?
The collaboration will offer affordable life insurance products and also facilitate access to government-backed insurance and social security schemes.
Who will assist consumers in understanding the insurance products?
Trained professionals will be available to assist customers with onboarding, servicing, and claims related to their insurance policies.
Why is this collaboration significant?
This partnership is significant as it aims to democratize insurance access, making it simpler and inclusive for the underserved populations in India.
