LIC's Rural Push: How a New Partnership Aims to Insure 10 Crore Indians

Under the collaboration, Kanoria Foundation company Sahaj's assisted digital service network will facilitate access to LIC's life insurance products and services. This will help consumers to understand, manage and enroll in policies, particularly in areas where insurance awareness has traditionally remained low.

The insurance vertical has been created to offer affordable and easy to understand products, supported by trained professionals who assist customers with onboarding, servicing and claims, the statement said.

"Our collaboration with Sahaj Insurance Services Private Limited will help us reach deeper into rural and semi urban regions, ensuring that more citizens benefit from the security and assurance offered by LIC," said Soumendranath Bandyopadhyay, Regional Manager, LIC.

Biswajit Chatterjee, Director, Sahaj Insurance Services Private Limited said the collaboration is a significant step in democratizing access to insurance, making insurance simpler, more accessible and truly inclusive for Bharat.

The collaboration is expected to improve awareness, strengthen policy servicing and encourage wider adoption of life insurance, contributing to India's broader financial inclusion and social security objectives, the release said.

Sahaj centres will also facilitate access to government backed insurance and social security schemes, alongside life and health insurance offerings, as part of efforts to deepen financial inclusion. The company has said it is targeting the sale of around 10 crore insurance policies in its first year of operations, with a focus on low premium and high relevance products tailored to rural and semi urban households.

Sahaj Insurance Services is a wholly owned subsidiary of Sahaj Retail and part of the Kanoria Foundation initiative.

- IANS