In 1956, all life insurance companies were nationalized to form LIC to incr...
Life Insurance Corporation (LIC) of India’s "Aadhaar" project launched by Union Finance Minister Pranab Mukherjee.
“Aadhaar” is based on biometric data to eliminate duplicates and ensure uniqueness. This biometric data will hold an individuals' iris scan, fingerprints and photograph. It was distributed by the Union Minister in presence of T S Vijayan, Chairman, LIC and R S Sharma, Director General and Mission Director, UIDAI along with other dignitaries; at Raghunathganj under Jangipur sub division of Murshidabad in West Bengal.
Unique Identification Authority of India (UIDAI) headed by Nandan Nilenkani, is a project of national importance. State run LIC had signed a Memorandum of Understanding (MoU) with the UIDAI earlier in June 2010. Since then, LIC has used all its efforts to ensure speedy distribution of the UID cards for national identity of Indian residents.
LIC has a database containing names, addresses, date of birth, sex etc of over 21 crore policyholders across the country. These cards will ensure that the benefits of insurance reach out to individuals in a seamless and effortless manner.
Each Aadhar card distributed by LIC had a 12-digit identity number unique to a particular individual. LIC has implemented many customer relationship management initiatives over the last 6 years. This new development will be a significant milestone for LIC, as it will enable them to administer various Social Security Schemes that they manage on behalf of the Government of India.