LIC to send SMS instead of renewal notice
Mayur.Shetty@timesgroup.com
Mumbai:06.02.2019
State-run LIC has decided to do away with physical renewal notices and send text messages instead. According to corporation sources, the shift will happen for all policies where LIC has updated customers’ mobile numbers. The corporation has sent out text alerts to policyholders saying that from March 2019, it will send premium due intimations and reminders only through SMS. LIC officials said that text messages are more effective as policyholders are alerted instantly and it is possible to send multiple reminders. The move will result in cost savings for the corporation as it can save on postage and stationery. LIC has over 28 crore policies in force, of which over 2 crore policies were sold in 2017-18. Unlike banks, LIC has a very small percentage of its customers’ mobile numbers. Sources said that of the total customer base, the percentage of policyholders whose phone details are available would be in single digits.
Mayur.Shetty@timesgroup.com
Mumbai:06.02.2019
State-run LIC has decided to do away with physical renewal notices and send text messages instead. According to corporation sources, the shift will happen for all policies where LIC has updated customers’ mobile numbers. The corporation has sent out text alerts to policyholders saying that from March 2019, it will send premium due intimations and reminders only through SMS. LIC officials said that text messages are more effective as policyholders are alerted instantly and it is possible to send multiple reminders. The move will result in cost savings for the corporation as it can save on postage and stationery. LIC has over 28 crore policies in force, of which over 2 crore policies were sold in 2017-18. Unlike banks, LIC has a very small percentage of its customers’ mobile numbers. Sources said that of the total customer base, the percentage of policyholders whose phone details are available would be in single digits.
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