EXCELLENCE in customer service is one of the important tools for sustained business growth and Life Insurance Corporation of India is a real testimony to this.
After having served its loyal 60, 000 Fijian customers for the past 61 years, LICI has once again hit the hallmark in Fiji’s business arena when it was one of the awardees of the Fiji Business Excellence Prize at the recent Fiji Business Excellence Awards at the Sheraton Fiji Resort and Spa.
LICI general manager Fiji Operations Sanjay Dayal said that as a service organisation, customer service and customer satisfaction are our prime focus.
“Every customer big or small is important to us,” Mr Dayal said.
The cornerstones to LICI success are certain values based upon which LICI stands tall. These include;
nCaring and Courtesy;
nInitiative and Innovation;
nIntegrity and Transparency;
nQuality and Returns;
nParticipation and Relationship; and
nTrustworthiness and Reliability
Like any other business, the biggest challenge faced is lack of insurance awareness among Fijians.
Mr Dayal noted that only 12 per cent of Fiji’s population is covered under any form of insurance.
“Our more than 200 LICI agents went door to door, across islands, in order to create awareness about the necessity of saving today, in order to meet the future needs of family and also to inculcate a habit of saving.
“This award would not have been possible without the help of my colleagues. This includes LICI agents spread across the islands and staff members of LICI who have always been committed to providing Fijians with the best services.
“LICI has completed 61 years in Fiji now and we are serving more than 60,000 Policy Holders. We are a Market Leader with 63 per cent share in Policies and 70 per cent share in Premium.”
Today LICI offers 19 plans to cater to the needs of various segments of the society.
The most important aspect of LICI in Fiji has been its consistent and high level of bonus declared year after year.
It paid more than 58 million as policy payouts in 2016.
LICI has contributed handsomely in the development of the Fijian economy with an investment of over $500 million, mostly in the infrastructure sector of the economy.
