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Public Relations Of LIC Of India
ACKNO
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Public Relations Of LIC Of India
History
The story of insurance is probably as old as the story of mankind. The same instinct that
prompts modern businessmen today to secure themselves against loss and disaster existed
in primitive men also. They too sought to avert the evil consequences of fire and flood
and loss of life and were willing to make some sort of sacrifice in order to achieve
security. Though the concept of insurance is largely a development of the recent past,
particularly after the industrial era – past few centuries – yet its beginnings date back
almost 6000 years.
Life Insurance Corporation of India was created on 1st September, 1956, with the
objective of spreading life insurance much more widely and in particular to the rural
areas with a view to reach all insurable persons in the country, providing them adequate
financial cover at a reasonable cost.
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its
corporate office in the year 1956. Since life insurance contracts are long term contracts
and during the currency of the policy it requires a variety of services need was felt in the
later years to expand the operations and place a branch office at each district headquarter.
Re-organization of LIC took place and large numbers of new branch offices were opened.
It worked wonders with the performance of the corporation. It may be seen that from
about 200.00 crores of New Business in 1957 the corporation crossed 1000.00 crores
only in the year 1969-70, and it took another 10 years for LIC to cross 2000.00 crore
mark of new business. But with re-organisation happening in the early eighties, by 1985-
86 LIC had already crossed 7000.00 crore Sum Assured on new policies.
Today LIC functions with 2048 fully computerized branch offices, 109 divisional
offices, 8 zonal offices, 992 satallite offices and the Corporate office. LIC’s Wide Area
Network covers 109 divisional offices and connects all the branches through a Metro
Area Network. LIC has tied up with some Banks and Service providers to offer on-line
premium collection facility in selected cities. LIC’s ECS and ATM premium payment
facility is an addition to customer convenience. Apart from on-line Kiosks and IVRS,
Info Centres have been commissioned at Mumbai, Ahmedabad, Bangalore, Chennai,
Hyderabad, Kolkata, New Delhi, Pune and many other cities. With a vision of providing
easy access to its policyholders, LIC has launched its SATELLITE SAMPARK offices.
The satellite offices are smaller, leaner and closer to the customer. The digitalized records
of the satellite offices will facilitate anywhere servicing and many other conveniences in
the future.
LIC continues to be the dominant life insurer even in the liberalized scenario of Indian
insurance and is moving fast on a new growth trajectory surpassing its own past records.
LIC has issued over one crore policies during the current year. It has crossed the
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Public Relations Of LIC Of India
milestone of issuing 1,01,32,955 new policies by 15th Oct, 2005, posting a healthy
growth rate of 16.67% over the corresponding period of the previous year.
It has a network of over 2000(2048) branches and more than nine lakh agents. Over
47 years, LIC has become a household name for providing security for a lifetime and
is synonymous to life insurance in India.
LIC ranks No.1 in the list of top 500 companies on the basis of Net Worth(Rs. 15, 47,
951 million) as well as Net Profit(2,66,277 million)- Dun & Bradstreet (India 500
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Public Relations Of LIC Of India
Conduct all aspects of our business keeping in view the interests of the community and
the national priorities; Provide insurance cover and financial security to every insurable
segment including the socially and economically weaker sections of the society.
provide them prompt, efficient and courteous service; act as trustees of their funds and
invest them to their best advantage; build and maintain enduring relationship;
keep them informed about our products and services etc.
promote a sense of participation and make them partners in progress; work towards
ensuring their job satisfaction and sense of pride; provide an environment and the
opportunities for growth to enable them to realize their full potential; take steps to
develop professional skills to enable them to handle their assignments more efficiently.
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Public Relations Of LIC Of India
Budget:
The management allocates Rs. 2-3 crores (approx.) annually to the PR Department. This
amount is then further allocated to the various Zonal Offices which prepare their
individual budgets according to their requirements.
Staffing Of PR Department
The Director-PR operates from the central office and has under him a Chief PRO. Each
Zonal Office has a Zonal Manager-PR under whom is the Regional Manager-PR. Further
under him is the Assistant Secretary who works with his Subordinate staff to fulfill the
day-to-day activities of the PR Department.
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Public Relations Of LIC Of India
Advertising
Press conferences are organized occasionally, generally when a new policy is released or
when the annual financial results are announced or if something of significance has
happened.
Press Releases are issued both by the central office as well as the various zonal offices.
LIC has time and again joined itself with various community development and awareness
programmes for the cause of rural development and infrastructure development.
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Public Relations Of LIC Of India
INTERNAL PUBLICS
Employees
Employee’s families
Staff Unions
EXTERNAL PUBLICS
Customers i.e. policy holders
Prospective Customers
Government Agencies
Banks and Financial Institutions
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Public Relations Of LIC Of India
EMPLOYEE RELATIONS
LIC shares a good rapport with its employees. There are various staff unions to take care
of the employees rights. The company shares a cordial and harmonious relationship with
these unions.
Fully utilizing its people’s talents and capabilities to promote skills and
competencies and broaden their perspective;
Handsome remuneration and perks.
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Public Relations Of LIC Of India
I. HOUSE JOURNALS
II. INTERACTION
The corporation also conducts open houses, meetings, seminars, workshops. This is done
with the aim of facilitating two-way communication.
III. REWARDS
Prizes are awarded to top performers at staff meetings and conferences. Rewards are
given in the form of holiday, a family trip or some monetary gain.
In consonance with the changes taking place in the insurance market, the corporation has
undergone a transformation, simultaneously requiring a revamp in its image. Systematic
and focused PR initiatives and widespread publicity have resulted in markedly improved
visibility. The corporation has emerged with a much younger and sleeker image.
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Public Relations Of LIC Of India
A conscious effort was made to bring about a transformation in the corporate image.
Through various campaigns, the corporation tried to depict the organization as one
oriented towards the younger generation.
The corporation advertising campaigns assisted the marketing strategies.
The business of insurance is purely service which cannot be seen or held. Hence, the
consumer relations activities of LIC concentrate on the customer public and building
relations with prospective customer.
The corporation has time and again made endeavors to reach out to the consumers,
interact with them and keep them satisfied.
The corporation tries to achieve its objective through a number of means
Oral Communication
Oral communication with the consumer public is the most effective means of
presenting facts and creating understanding of the organization’s policies and practices.
Employee-Consumer Communication:
The harmonious relationship that LIC has, through the years , built and maintained with
its customers has only been possible due to its dedicated and committed team of
Development Officers and scores of Insurance Agents throughout the country.
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Press Conferences
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Public Relations Of LIC Of India
Audio-Visual Communication
Television and Radio broadcasts are a basic medium of consumer communication. Now –
a-days it gaining a lot of importance.
Trans-slides
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Public Relations Of LIC Of India
The Corporation has placed trans-slides at strategic places, like Railway Stations and
Airports, for maximum exposure to public at large.
Printed Communication
At LIC printed communications are used in conjunction with oral communication media.
Press Release
Press releases are frequently handed out to the media by the local PR department on
behalf of the company. These generally comprise of any subject or issue concerning the
company, containing information for policy holders or any item of news value to the
media and its readers.
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Public Relations Of LIC Of India
The corporation takes out its annual working results and several other publications from
time to time to keep the public abreast of the happenings and achievements at LIC.
Financial Results
The annual financial report of the corporation is published in the National dailies and is
also circulated amongst the shareholders to keep them informed. It also aims at attracting
new investors.
Booklets, Brochures and Pamphlets are generally taken out to inform its internal and
external public about its various new schemes and act as an effective medium of print
communication.
These tools are not only an advertising medium but also a very effective PR tool. LIC
uses posters and hoardings to get quick public notice. Posters and hoardings are widely
placed throughout the city at busy intersections like subways, railway stations, roadsides,
bus shelters, etc.
Website
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Public Relations Of LIC Of India
LIC has tied up with HDFC Bank, ICICI Bank, UTI Bank, Bank of Punjab, Global Trust
Bank, Corporation Bank, The Federal Bank Ltd., Citibank, and service providers like Bill
Junction.com, timesofmoney.com to offer the online premium payment facility to its
customers in select cities.
Information Kiosks
The corporation has installed online information kiosks at prominent places across the
country. This provides information about the Products, services and policy status reports
to the customers.
The purpose of such a campaign is ‘to strengthen the relationship with the customers and
to build bridges of understanding.
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Public Relations Of LIC Of India
To communicate with them and to keep them informed of the company’s progress several
activities are undertaken by the PR Dep’t.
LIC regularly provides ‘Health vans’ to various organizations across the country. The
corporation also sponsors many sports events at the national level. Numerous publicity
projects with a social purpose are undertaken at the zonal level.
Recently the North Zone (Delhi) associated itself with the ‘Perfect Health Mela’ to
propagate the cause of good health.
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A. CORPORATE IDENTITY
B. CORPORATE IMAGE
C. CORPORATE CITIZEN
A. CORPORATE IDENTITY
Company Logo
The company’s logo has become synonymous with insurance and security in India. It
helps to identify the company easily.
Sign-up Line
Company Publications
The company has a host of publications that comprise of in-house journals, external
newsletters, annual reports, etc.
Citizens Charter
The company philosophy goes a long way in creation of harmonious relations with its
publics. The citizen’s charter is a comprehensive statement of the company’s philosophy
towards its publics.
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Public Relations Of LIC Of India
B. CORPORATE IMAGE
The above listed image communicators have been very successful in creating a corporate
image of LIC in the minds of the people over the years since its establishment.
C. CORPORATE CITIZEN
With all its PR initiatives and activities, since its establishment, LIC has proved to be a
successful corporate citizen.
Public Relations aims at building-up and maintaining sound, effective and productive
relations with the public so as to help the organization to understand and interpret the
environment as also help the public and the society at large to appreciate the performance
and limitations of the organization. Public Relations has the responsibility to build and
maintain two-way relations between the Public and the Organization at all levels.
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Public Relations Of LIC Of India
Mission
Establish understanding and develop awareness of mutual aspirations of LIC and the
Public.
Goals
1. Promote within the Corporation greater awareness of the changing environment and
he need to align the corporate policy to the emerging situation.
Strategy
1. Develop excellent relations with the totality of the media-print,electronic and agency
owners and reporters by regular exchange of information with them.
2. Establish relations-and develop understanding with the Govt. -Central, State & Local
bodies through legislators and Govt. officials.
3. Develop full understanding with the workers-employees at all levels and agents on
Organizational goals, policies, practices and programmes.
5. Build an atmosphere of goodwill and understanding inside and outside the organization
leading .to better appreciation of the corporation's policies and performance.
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Public Relations Of LIC Of India
6. Help to evolve effective machinery for quick and satisfactory redressal of grievances
of the public.
Action Plan
1. Keeping the objectives, philosophy and the strategies in view, drawing-up annual PR
plans by Branches, Divisions, Zones & Corporate Office.
6. Organize events like inauguration of new B.O., D.O., Z.O. or any arm of the
Corporation (diversification) etc. as public functions to project corporate image.
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7. Actively participate in at least one important scheme in each of the States and in two
or three national level schemes to help improve the quality of social life and establish
the social relevance of LIC.
PRESS CONFERENCE
Press conference & interview are arranged periodically by all L.I.C. offices - i.e. ,
Central, Zonal, Divisional and Branch offices at the time of launching any new scheme
and to inform about the policies , programmes and activities to the press so that it can be
publicized.
LIC has its own web site Licindia.com which provides information about LIC and its
subsidiaries and the products offered by them.
With a view to providing quick and accurate service its Customers LIC has introduced
on-line service through front – end terminals in 1993 branches and soon all our customers
will be able to benefit by this.
LIC has established an elaborate Grievance Redressal machinery in order to deal with
problems of customers. The grievance redressal cells are operative at all levels i.e.
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Public Relations Of LIC Of India
Branch, Divisional, Zonal and Corporate offices. Specially designated officers attend to
policyholder's complaints.
RALLY ORGANISATION
LIC has organized a massive rally to pay homage martyrs of Kargil to provide moral
support to the Indian army.
PR And Publicity Conferences
A claims review committee was being formed at the corporate level with a retired Judge
as one of the members and it handles grievances arising out of repudiation of claims etc.
Similar committees are also constituted at Zonal level.
Press Releases
Press releases regarding important news are released from time to time so that people are
kept informed and they know about them.
Customer Meets
Periodical customer meets are organized at Divisional and Branch level to facilitate
greater interaction with policyholders.
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Public Relations Of LIC Of India
Publicity Pavilion
Publicity Pavilion are arranged to display information about PR and Publicity activities of
LIC.
A high profile committee has been constituted by the Central office with eminent persons
from the consumer’s movement being its member to advice and guide LIC on maters
concerning consumer interests.
Exhibitions
LIC arranges its various schemes and exhibitions so that it can display its various
schemes and plans.
Citizens Charter
The corporation has adopted a Citizens Charter wherein commitments have been made to
its customers for higher standards in servicing.
A unique facility of free phone call service is being provided to the policy holders of
Mumbai city to enable them to have easy access to grievance redressal officers over the
phone.
Sponsorship
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Public Relations Of LIC Of India
LIC distributes dairies and calendars to its employees and also to the general public every
year.
Publicity Stalls
Publicity stalls are been put up by LIC at different fairs and melas to publicize the
corporation and its schemes and plans.
Public Functions
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Public Relations Of LIC Of India
Posters and banners are set up at strategically important public places such as Airports,
Railway stations, Bus terminals, shopping counters an at the reception counters of the
business premises. This enables the policy holders to access information about LIC & its
products etc.
Insurance Week
An insurance week was arranged by LIC through which people were exposed to various
insurance schemes of LIC.
Advertisement about LIC are frequently been telecast on radio and satellite channel.
LIC has also advertised about its products and the corporation even in Kumbh Mela.
Training Programmes
Training programmes are arranged by LIC for its employees so that they can be trained
for the purpose of public relation activities.
Meetings
Meetings of Development officers are arranged by LIC to train their employees for public
relation activities.
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Public Relations Of LIC Of India
CONCLUSION
Public Relation came into existence by the belief that if we do something good for people
then only the people will say well about the organization. Today's is an age of
competition. And to remain firm in the competition depends on how efficiently the
Organization manages its PR & projects the company's image.
Public Relation will not sell goods and Services but it is bound to create an atmosphere
which will make the free enterprise, a responsible enterprise. Public Relations, in fact
Will prove to be the most effective tool for communicating with the
People who are still remote from industry for convincing them that
Corporate objectives are ultimately in the interest of the public.
The PR Mantra has now become pervasive. Neither a individual nor the organization &
not even the government Or a UN body can thrive or sustain in this age without
effectively strategizing PR.
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Public Relations Of LIC Of India
Bibliography
• LIC India.com
• AltaVista.com
• Find Articles.com
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