LIC crosses 1crore individual policies mark in current fiscal

Mumbai: India's largest life insurer, Life Insurance Corporation of India (LIC), has crossed the mark of one crore individual policies for the current financial year, with first premium income of Rs15,917 crore in the fortnight ended 14 August, 2010, reports PTI.

In the previous year, LIC had crossed this landmark on 31 August, 2009.

Among the largest contributors to this stupendous performance are LIC's western zone with more than 15.86 lakh policies, south central zone with 15.46 lakh policies, northern zone with 15.04 lakh policies, north central zone with 13.54 lakh policies, south zone with 12.78 lakh policies and eastern zone with 12.29 lakh policies, a press release issued here said.

East central zone with 9.52 lakh policies and central zone with 5.98 lakh policies also made valuable contributions, the release said.

During the previous financial year, LIC had completed a record 3.88 crore individual policies, with a market share of 73.02%.

LIC's performance in the current financial year has been record-breaking so far and as on 31st July, it has increased its market share in first year premium to 71.33% as against 64.86% as on 31st March.

Besides having the largest customer base of about 27 crore policy holders, it has an enviable conservation ratio of more than 90% which is a testimony of customers' trust in the organisation and its high-quality customer service, the release said.

Currently, it provides fully computerised and networked service through its 2,048 branch offices and 1,035 satellite offices spread throughout the country.


Professional social networking to overtake job boards

Panaji: The booming professional social networking website market is likely to surpass the business of job board websites, reports PTI quoting a top industry expert.

"If you look at the trend, job board websites are losing their market to professional social networking websites. More and more people have started looking at these websites as the ultimate platform," Yogesh Bansal, founder and chief executive officer (CEO) of said., a three-year-old professional social networking website, has positioned itself as a 'Business and Career' networking site.

The CEO claims to have 30 million users worldwide of which 1.6 million are in India.

He was speaking on the sidelines of 'Advertising Public Relation Event Entertainment' (APREE) at Arpora, 20 km away from here.

The three-day event, which has drawn professionals from across the country, began on 26th August. The organisers said they used a lot of social networking websites to get speakers for the event, which is being held for the third time in Goa.

"We banked a lot on social networking for this edition.

For instance, we tracked one of the speaker Harish Bijoor on Twitter and we left him messages to which he replied," Salma Yamini, operation head-APREE said.

Harish Bijoor is a brand domain specialist operating out of Bangalore and runs a unique boutique consulting outfit branded Harish Bijoor Consults Inc, a brand name that has a consulting presence across the markets of Hong Kong, Seattle, London, Dubai and Indian sub continent, she said.

Ms Yamini said that APREE this year will discuss 'tools in surging economy' and professional social networking websites is one such tool, which is widely used by the industry to reach out to people.

Bollywood actor Sanjay Suri, who was present at the event, was of the opinion that offline and online networking should overlap as it helps in better communication.

"I have raised funds and sourced talents using social networking sites for the film. There are 400 producers from across 30 cities who were contacted through social networking websites. The film is now complete," he said.


India will not risk national security for technology: Pilot

New Delhi: As a solution eludes monitoring of data transmitted through the BlackBerry phone, India today said it would not risk national security, especially when answers to the problem have been found elsewhere in the world, reports PTI.

"These concerns have been addressed in other parts of the world, I see no reason why the Indian government and agencies should take any risk at all as far technology is concerned," minister of state for communication and IT Sachin Pilot told reporters here.

The government has asked the BlackBerry phone maker Research In Motion (RIM) to provide access to data such as e-mail sent through the phone by 31st August or face ban on its data services.

However, Mr Pilot made it clear that the government was not in the business of shutting down services. "We are not in the business shutting down services," he said.

BlackBerry is a smartphone that allows users to send and receive data like e-mail through servers located overseas.

The home ministry had told the telecom ministry that if the security concerns were not addressed, the service should be stopped immediately.

In a bid to break the logjam, the smart phone maker had offered to provide information on a deferred basis. But the government had asked RIM to provide a "master key" to gain access to encrypted corporate information on a real time basis.

RIM yesterday had said that company does not have a master key to gain access to encrypted corporate information.

Mr Pilot, however, expressed hope that the matter would be resolved. "The discussions are going on; we hopeful we will come up with resolution," he said.

The smart-phone-maker has a subscriber base of one million in India.



Shadi Katyal

7 years ago

One often wonders why are we on war with our own self as a nation.Why do we keep shooting ourselves in the foot.Cant the Ministers keep their lips seal and thus negotiate politely instead of showing immaturity.
Since we scream on the top of our lungs being the biggest IT trained personnel why have no such system so far been innovated?
We must protect our security and yet deal with the world

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