The Life Insurance Corporation of India (LIC) launched two significant digital applications, MyLIC and Super Sales Saathi, during a high profile event in Mumbai on April 22, 2026. These initiatives are designed to revolutionize the digital experience for policyholders and empower sales intermediaries through streamlined operations.
LIC’s Digital Transformation: The DIVE Initiative
The introduction of these applications is a key component of Project DIVE, which stands for Digital Innovation and Value Enhancement. This project represents LIC’s comprehensive strategy to modernize its legacy systems and adopt a digital-first approach in its operations. The primary goal of DIVE is to create a seamless, end-to-end digital journey for both customers and the sales force, ensuring higher efficiency and faster service delivery.
The launch event was inaugurated by Shri M. Nagaraju, the Secretary of the Department of Financial Services (DFS) under the Ministry of Finance. During the event, the Secretary emphasized the importance of leveraging technology to deepen insurance penetration in India.
MyLIC: A Comprehensive Portal for Policyholders
The MyLIC application is designed to function as a one-stop digital office for policyholders. It provides a 360-degree view of an individual’s insurance portfolio, allowing them to manage multiple policies through a single interface. The app integrates various service requests that previously required physical visits to branch offices, thereby significantly reducing the turnaround time for customer queries.
Key features of the MyLIC platform include:
- Portfolio Management: Users can view details of all their active and lapsed policies in one dashboard.
- Premium Payments: The app supports instant online premium payments with real-time receipt generation.
- Policy Loans and Claims: Customers can apply for paperless policy loans and track the status of their claims digitally.
- Updates and Servicing: Facility to update contact details, nominate beneficiaries, and revive lapsed policies through a few clicks.
Empowering Intermediaries with Super Sales Saathi
Recognizing that agents and sales intermediaries are the backbone of its distribution network, LIC has introduced Super Sales Saathi. This application is tailored to provide the sales force with advanced digital tools to improve their productivity and engagement with prospective clients. The platform aims to reduce the paperwork involved in traditional insurance sales and allows agents to focus more on advisory roles.
The application includes features such as:
- Digital Sales Kit: Agents have access to comprehensive product explainers, brochures, and calculation tools to demonstrate policy benefits to customers.
- Real-time Tracking: The platform enables intermediaries to track the progress of policy applications and monitor their own performance against set targets.
- AI-enabled Nudges: The app uses artificial intelligence to provide insights and reminders for follow-ups, ensuring better customer retention and service.
Statutory Role and Market Leadership of LIC
The Life Insurance Corporation of India (LIC) was established on September 1, 1956, under the Life Insurance Corporation Act, 1956. It was formed by nationalizing and merging over 245 insurance companies and provident societies to provide life insurance coverage to all citizens, particularly in rural areas. Headquartered in Mumbai, LIC operates under the administrative control of the Ministry of Finance and is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).
Today, LIC remains the largest life insurer in India, overseen by CEO and Managing Director Shri R. Doraiswamy. The corporation continues to align its digital strategy with the national goal of “Insurance for All by 2047”, as envisioned by the government and the insurance regulator.
Key Takeaways
- LIC launched two mobile applications, MyLIC for policyholders and Super Sales Saathi for agents, on April 22, 2026.
- The digital initiatives are part of a broader transformation strategy named Project DIVE (Digital Innovation and Value Enhancement).
- Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), inaugurated the launch event in Mumbai.
- MyLIC provides customers with a 360-degree view of their portfolio and supports paperless policy loans and e-KYC.
- The Life Insurance Corporation of India (LIC) was established on September 1, 1956, under the Life Insurance Corporation Act.
- LIC is headquartered in Mumbai and functions under the administrative control of the Ministry of Finance.
