Vakrangee ties up with LIC for micro insurance products
May 26, 2020
Mumbai (Maharashtra) [India], May 26 : Vakrangee Ltd said on Tuesday it has tied up with Life Insurance Corporation of India (LIC) to distribute micro insurance products in unserved and underserved areas through its centres across the country.
Further, renewal premium collection for all micro insurance policies of LIC will be enabled at Vakrangee kendras irrespective whether these policies have been procured at the kendra or not.
Vakrangee currently has more than 23,000 kendras (10,000 operational and 13,000 under on-boarding process) spread across 30 states and union territories, 500 districts and 6,150 postal codes.
More than 70 per cent of these outlets are in tier 5 and 6 towns. Vakrangee's planned target is to reach at least 25,000 next-gen kendras by the year-end.
Incorporated in 1990, Vakrangee is a technology-driven company focused on building a network of last-mile retail outlets to deliver real-time banking and financial services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets.
