The Life Insurance Corporation of India (LIC) announced on Friday its partnership with Sahaj Insurance Services Private Limited to enhance insurance penetration in rural and semi-urban regions throughout the country.

This partnership will leverage Sahaj’s assisted digital service network to improve access to LIC’s life insurance products and services. It aims to help consumers comprehend, manage, and enroll in policies, especially in areas where awareness about insurance has typically been low.

A dedicated insurance division has been established to provide affordable and easy-to-understand products, aided by trained experts who assist clients with onboarding, servicing, and claims, as indicated in the statement.

“Our partnership with Sahaj Insurance Services Private Limited will enable us to penetrate further into rural and semi-urban areas, ensuring that a larger number of citizens can benefit from the security and assurance that LIC provides,” stated Soumendranath Bandyopadhyay, Regional Manager of LIC.

Biswajit Chatterjee, Director of Sahaj Insurance Services Private Limited, remarked that the collaboration represents a crucial advance in making insurance more accessible, simpler, and genuinely inclusive for the people of Bharat.

This partnership is anticipated to enhance awareness, bolster policy servicing, and promote wider acceptance of life insurance, thereby contributing to India’s overarching goals of financial inclusion and social security, according to the release.

Sahaj centers will also provide access to government-backed insurance and social security programs, in addition to life and health insurance products, as part of efforts to enhance financial inclusion.

The company aims to sell around 10 crore insurance policies during its first year of operations, concentrating on low-premium and highly relevant products designed for rural and semi-urban households.

Sahaj Insurance Services operates as a wholly owned subsidiary of Sahaj Retail and is part of the Kanoria Foundation initiative.