NATIONAL INSURANCE ACADEMY

PUNE

 

P852 - PROGRAMME FOR MANAGER REINVESTMENT (LIC)

(2025 - 26)

Background:

 

LIC handles a vast claims portfolio, with significant amounts paid out every month as maturity claims. These payouts represent an opportunity to retain and reinvest funds by encouraging policyholders to take up new policies for themselves/ relatives, thereby ensuring continued financial protection and long-term wealth creation. To optimize this, the Manager (Reinvestment) will be responsible for engaging with claimants and offering suitable reinvestment options. This initiative will enhance policyholder retention, acquiring new customers, improve persistence, and contribute to LIC’s long-term business sustainability. The training module is designed to equip Managers (Reinvestment) with the knowledge, skills, and tools required to effectively encourage policyholders to reinvest their maturity proceeds into new policies, annuities etc. It will focus on customer relationship management, product knowledge, financial planning, and persuasive communication to maximize policy claim payment conversion to new policy contracts.

Objectives:

 

At the end of the programme participants will be able to:

 

§  Analyse LIC’s maturity claim trends and reinvestment potential.

§  Gain in-depth knowledge of endowment, pension, annuity, health and ULIP plans.

§  Align reinvestment strategies with policyholders' long-term goals and tax benefits.

§  Profile policyholders based on the STP model of demographics, financial needs, and reinvestment potential.

§  Build trust-based relationships and provide personalized reinvestment solutions.

§  Address policyholder concerns with confidence and persuasion.

§  Use technology to track claims, monitor reinvestment potential, and ensure follow-ups.

§  Adhere to IRDAI guidelines, avoid mis-selling, and maintain transparency.

§  Improve cross-selling, upselling, and customer retention strategies.

§  Engage in role-playing, case studies, and mock sales interactions for real-world readiness

 

Contents:

 

§  The Claims Portfolio and Reinvestment Potential: Overview of LIC’s maturity claims portfolio, customer behaviour post-maturity, Business impact of reinvestment on LIC.

§  Customer Profiling and Segmentation: Identifying different customer segments (retirees, professionals, HNIs, etc.), Analysing past policies and understanding customer needs, Digital tools for customer insights

§  LIC’s Reinvestment-Oriented Products – Part 1: Overview of traditional savings and endowment plans, Pension and annuity plans for long-term security, Product suitability based on different stages of customers’ life cycle.

§  LIC’s Reinvestment-Oriented Products – Part 2: ULIPs and wealth accumulation plans, Tax benefits and financial planning considerations, Product bundling strategies

§  Consultative Selling Approach for Reinvestment: Understanding customer motivations and concerns, Need-based selling and offering customized solutions, Building long-term customer relationships

§  Handling Customer Objections and Closing Sales: Common objections and how to address them, psychological aspects of decision-making, Effective follow-up strategies

§  Customer Relationship Management (CRM) for Reinvestment: Importance of a proactive customer engagement approach, Digital and offline touchpoints for communication, Personalized interactions for better customer experience

§  Role of Technology and Data Analytics in Reinvestment: Using CRM tools for tracking claims and reinvestment opportunities, Digital marketing strategies for reaching out to the customer and Leveraging automation for customer engagement

§  Regulatory Guidelines and Ethical Selling: IRDAI guidelines on solicitation and reinvestment, Ethical sales practices and avoiding mis-selling, Ensuring customers’ trust and transparency in sales.

§  Legal and Compliance Aspects of Claims Reinvestment: Documentation and customers’ rights, Ensuring informed consent in policy purchases, Dispute resolution mechanisms

§  Real-Life Case Studies and Success Stories: Analysis of successful claims reinvestment strategies, Learning from best practices in the insurance industry, Group discussion on real customer scenarios

§  Mock Sales Interactions and Role-Playing: Simulated sales meetings with different customer profiles, Peer and expert feedback on communication strategies, Final assessment and certification.

 

Participants’ Profile: 

 

Manager (Reinvestment) / Manager (Sales), in Divisional Offices and Secretaries/Dy. Secretaries of CRM Dept. in Zonal Offices and Central Office of Life Insurance Corporation of India to be nominated by HRD Depts. of respective offices.

 

Duration:       2 days

Dates:            

  I.      04.08.2025 - 05.08.2025  

II.      11.09.2025 - 12.09.2025  

III.      15.09.2025 - 16.09.2025

IV.      27.11.2025 - 28.11.2025

 V.      05.02.2026 - 06.02.2026