Union Finance Minister Pranab Mukherjee launched the LIC-Aadhaar Project of Life Insurance Corporation of India (LIC) at Raghunathganj under Jangipur Sub Division of Murshidabad District West Bengal. LIC-Aadhaar Project is the implementation of UID Project of the Unique Identification Authority of India (UIDAI) wherein LIC is delivering Unique 12-digit Identity – “Aadhaar” Numbers to the Indian residents.
The LIC-Aadhaar Cards were distributed to the Residents of Jangipur by the Honorable Union Finance Minister Sri Pranab Mukherjee, in the presence of T S Vijayan, Chairman LIC, R S Sharma, Director General & Mission Director, UIDAI, , A. K. Dasgupta Managing Director LIC, Sri R R Dash Zonal Manager, LIC, Eastern Zone, Kolkata, and B Venugopal, Executive Director (IT/SD), LIC. The dignitaries included honorable Members of Parliament as well as Legislative Assembly. LIC is the first registrar of the UID Project to hand over these cards.
LIC of India became the first Institutional Partner of the Unique Identification Authority of India (UIDAI) by signing an MoU with UIDAI on 9th June, 2010.
Aadhaar is envisioned as a number that will make it possible for Indian residents to easily establish their identity in order to facilitate their interaction with the various public and private agencies across the country. The Aadhaar is based on Demographic and Biometric Data i.e. photograph, fingerprints (10), and iris scan, hence, no duplicates can creep into the system.
LIC, the largest life insurance institution in the world with more than 21 crore unique customers (holding more than 27 crore policies), had partnered with the UIDAI as a registrar for issuing a national identity to the Indian resident – Aadhaar. LIC has used its robust and efficient Information Technology infrastructure to ensure speedy dissemination of the UID cards.
This is seen as another mammoth step undertaken by LIC in its efforts to give back to society through its numerous Corporate Social Responsibility initiatives. LIC had entered into this partnership with the aim of providing greater value to its customers and to ensure that the benefits of insurance reach every Indian. This partnership guarantees the inclusion of all eligible sections for social welfare schemes.
LIC already has a Data Warehouse consisting of the complete details of all its customers. Using its own customer id generated from the Data Warehouse, LIC has implemented many customer Relationship Management initiatives over last 6 years. Using the strong foundation of the Aadhaar Number, and the Financial Inclusion infrastructure, LIC hopes to boost the administration of various Social Security Schemes it manages on behalf of the Government of India.
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