**Executive Summary**
The Secretary, DFS, addressed the LIC's Strategy Meet in Mumbai, emphasizing LIC's role in national growth priorities and urging the adoption of digital and mobile-first strategies. LIC's consolidated AUM stands at ₹57.23 lakh crore with a yield of 8.9% on policyholders' funds. The digital transformation through Project DIVE is targeted for completion by late 2026.
**Key Points / Main Content**
* **Strategic Vision & Partnerships:**
* LIC is regarded as a key partner in aligning institutional capital with national growth priorities.
* Priorities include green energy, infrastructure, startups, and alternative investment funds.
* LIC is designated as a Domestic Systemically Important Insurer (D-SII) by IRDAI.
* **Digital Transformation & Technology:**
* Secretary urges adoption of digital and mobile-first approach to advance the national goal of "Insurance for All".
* Project DIVE, including the MarTech platform, Sales and Customer Super Apps, a unified Data Lake, and end-to-end digital lifecycle integration, is targeted for completion by late 2026.
* LIC has transformed into a value-driven, digital-first financial powerhouse.
* **Financial Performance & Investment:**
* LIC's consolidated AUM stands at ₹57.23 lakh crore, with a yield of 8.9% on policyholders' funds and a solvency ratio of 2.13.
* This corpus may be used for incentivizing growth of start-ups and alternative investment funds.
* **Product Portfolio & Distribution:**
* Strategic shift to high-growth non-participating products, including customizable ULIPs and "Return of Premium" plans.
* Emphasis on distribution strength, with over 14.8 lakh agents under the Jeevan Samarth initiative.
* Bima Sakhis initiative has secured more than 14 lakh policies and covering over 50% panchayats.
**Impact Analysis**
**LIC**
* **Impact:** Required to align its strategies and investments with national growth priorities, adopt digital and mobile-first approaches, and improve persistency ratios.
* **Action Required:** Implement digital transformation initiatives, develop high-growth products, and leverage agency force and Bima Sakhis program for wider reach.
**Policyholders**
* **Impact:** Affected by the yield on policyholders' funds and the improvement of persistency ratios, particularly among low-ticket policyholders.
* **Action Required:** Maintain policies to ensure growth and returns, especially with the focus on improving persistency ratios.
**Indian Economy/Start-ups/Investment Funds**
* **Impact:** Beneficiaries of LIC’s investment strategy that focuses on incentivizing growth of start-ups and alternative investment funds.
* **Action Required:** Prepare for potential investments and partnerships with LIC as they allocate funds to these sectors.
**LIC Agents/Bima Sakhis**
* **Impact:** Expansion and importance of the agent network is highlighted through the Jeevan Samarth Initiative and the Bima Sakhis program.
* **Action Required:** Expand the reach of insurance policies to more people. Bima Sakhis are expected to cover all panchayats by next year.
Key Entities Referenced
Life Insurance Corporation of India (LIC): A major Indian insurance company, designated as a Domestic Systemically Important Insurer (D-SII)
Department of Financial Services (DFS): A department under the Ministry of Finance
Insurance Regulatory and Development Authority of India (IRDAI): The regulatory body for the insurance sector in India
Project DIVE: LIC's flagship digital transformation initiative
Bima Sakhis: An initiative involving women career agents to expand insurance coverage
Ministry of Finance
Secretary, DFS Outlines Strategic Vision for LIC
at Strategy Meet in Mumbai
LIC regarded as a key partner during the meet in aligning
institutional capital with national growth priorities such as
green energy, infrastructure, startups, and alternate
investment funds
Secretary, DFS urges adoption of digital and mobile-first
approach to advance the national goal of “Insurance for All”
LIC’s consolidated AUM stands at ₹57.23 lakh crore, with
yield of 8.9% on policyholders’ funds
प्रव तथ: 17 JAN 2026 7:49PM by PIB Delhi
The Secretary, DFS delivered a keynote address at the LIC’s Strategy Meet held at Mumbai, today. The
event featured high-level sessions including intensive discussions on Marketing Business Strategy,
Technology Transformation, HR Strategy for Personnel, and Strategic Asset Allocation reviews.
The Secretary stated that LIC is not just an insurance company but a Domestic Systemically Important
Insurer (D-SII) and this designation by IRDAI carries a profound responsibility as LIC’s stability is
synonymous with India’s financial stability. It was noted that LIC has undergone a historic transformation,
emerging from a traditional brick-and-mortar organization into a value-driven, digital-first financial
powerhouse.The Secretary also highlighted the transformation of LIC’s product portfolio, with a strategic shift to high-
growth non-participating products. Through agile innovation, LIC is capturing the younger demographic
with customizable ULIPs and "Return of Premium" plans, alongside products like Yuva Term, Digi Term,
and Index Plus.
Emphasizing distribution strength, the Secretary noted that LIC’s massive agency force remains its
greatest asset. Under the Jeevan Samarth initiative, the agency force has grown to over 14.8 lakh agents,
with a strong focus on the 18–40 age group.
The launch of Bima Sakhis—women career agents—has seen a phenomenal response, with over 2.9 lakh
Bima Sakhis securing more than 14 lakh policies and covering over 50% panchayats. The initiative has
brought more women into the insurance fold, and the Secretary expressed hope that all panchayats will be
covered by Bima Sakhis by next year.
On digital transformation, Project DIVE was highlighted as LIC’s flagship initiative, including the
MarTech platform, Sales and Customer Super Apps, a unified Data Lake, and end-to-end digital lifecycle
integration targeted by late 2026.
The Secretary expressed satisfaction with LIC’s consolidated AUM of ₹57.23 lakh crore and a yield of
8.9% on policyholders’ funds, supported by a strong solvency ratio of 2.13. This corpus may be used for
incentivising growth of start-ups and alternative investment funds. The importance of improving
persistency ratios, particularly among low-ticket policyholders, through concerted push and continuous
follow-up was underlined.
Concluding the address, the Secretary stated that LIC has transformed into a tech-enabled, and capital-
efficient leader, remaining the most trusted brand in Indian households. The continued adoption of digital
marketing and a mobile-first approach was urged to ensure the realization of the national goal of
“Insurance for All.”
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