Life Insurance Corp. of India (LIC) plans to create a separate digital vertical to regain shrinking market share by reducing its dependence on an army of agents, capitalize on the digitalization trend and woo investors post its initial public offering.
“We want to have an entire vertical which will be digital. This will be apart from our plan to review and refurbish our existing online channel," LIC chairman M.R. Kumar told a pre-IPO meeting on Monday.
