Excelsior Correspondent
JAMMU, June 22: LIC of India crossed another milestone today by embarking upon a new centralized web-based work-flow-based IT platform for its Group Business operations.
Chairman of LIC of India, MR Kumar inaugurated the Go Live of the project e-PGS in a formal ceremony held today at Yogakshema, Central Office, Mumbai in the presence of Managing Directors Vipin Anand, Mukesh Gupta, Raj Kumar and S Mohanty.
Rakesh Sharma, Managing Director and Chief Executive Officer of IDBI Bank received the first digital receipt, generated on new IT platform, to the Bank as Master Policy Holder in one of its group policies from MR Kumar as a part of the inaugural function which was attended by Sujit Bakshi, Country Head for Tech Mahindra along with their team, Vishakha Limaye, Executive Director of ICICI Bank and the bank team.
The inaugural ceremony was joined online from 204 locations across the entire country by all the Zonal Managers, Executive Directors in charge of Central Office Departments, Regional Managers, Unit Heads and all employees of Group Business Vertical of LIC of India.
The new technology platform is designed to provide for centralized collection and payment accounting with high level of bank integration through host to host connectivity and provide very innovative features of seamless and integrated banking with automatic reconciliations. The new system, e-PGS, is capable of providing comprehensive self servicing capabilities through customer portal where corporate customers will be able to view their data, initiate actionable processes, lodge and track claims. Some of the services will be launched on green channel with end-to-end processing at customer level itself without manual intervention from Insurer’s Office. Individual Members of various group funded schemes and annuitants under group annuity schemes will also be able to view, on a real time basis, their accounts / fund position / annuity position etc thru customer portal. All the features and services will be launched in a phased manner spread over next three months.
On the occasion, Vipin Anand, Managing Director and KS Nagnyal, Executive Director for Group Business also expressed their views.
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