India’s Top 500 Companies 2022

INDIA’S TOP 500 COMPANIES 2022 74 Alphabetical Listing 65 YEARS OF SERVICE AND TRUST – LIFE INSURANCE CORPORATION OF INDIA LIC is one of the Strongest 3 letter word in India. LIC has lived true to its theme, “YogakshemamVahamyaham” in the last 65 years. Starting with an initial capital of ` 5.00 Crore in 1956, today LIC has an Asset base of ` 38,04,610Crores. LIC’s Life Fund, a yardstick to measure an insurance company’s financial strength, has grown from ` 410.40 crore in 1956 to ` 34.36 lakh crore in 2021. With its assets of more than ` 38 lakh crore, LIC has the distinction of being one of the largest financial institutions in India. As per a report released by Brand Finance Insurance 100, LIC is ranked as the 3rd Strongest and 10th most valuable brand, in the world. From being a Life insurer of every Indian, LIC has transformed into a Trans-nationally Competitive Financial Conglomerate of significance to societies and Pride of India. LIC has its global footprints in 14 countries through its Branch Offices, Joint Venture Companies and Wholly Owned Subsidiary. These companies are market leaders in respective geographies. It has also ventured into other financial services through its Subsidiaries and Associates viz LIC HFL, LIC Pension Fund Ltd, LIC Mutual Fund and AMC Ltd, LIC Cards Services Ltd, IDBI Bank Ltd, LICHFL Care Homes Limited, LICHFL Financial Services Limited, and LICHFL Asset Management Company Limited. LIC has been a major contributor in the socioeconomic development of the country. Through its strong and wide network of offices across the country, over 100,000 employees and 1.32 Million Agents, Customers are provided best services. LIC offers a bouquet of products under Individual Business, each catering to the needs of various Customer segments. LIC has taken customer-centric and digital initiatives to improve its operational efficiencies. ANANDA -AtmaNirbhar Agents’ New-Business Digital Application, a Mobile APP enables agents to complete business seamlessly. ‘PRAGATI’ (Performance Review Application, Growth And Trend Indicator) enables Development Officers to monitor the business performance on real time basis and artificial intelligence technology based app ‘JeevanSaakshaya’ which enables our Annuitants and retired employees to submit Life certificate from the comfort of their home, are few recent digital initiatives.Our chatbot ‘LIC Mitra’ which is available in English,Hindi and Marathi has a daily enquiry of over 50,000 with response success of over 95%. Our customer portal has over 1.8 crores registered policy holders with over 1.5 lakh customers logging in every day for availing various services. In 2021-22, LIC has won 25 Awards, the notable ones being FICCI Insurance Industry Award 2021- Best Insurance Campaign- Life Category, Readers Digest Award for ‘Most Trusted Brand 2021, Marksmen Daily Most Trusted BFSI Award. In this fast changing world, TRUST in LIC is the only constant. Dun & Bradstreet