LIC opens worlds largest data warehouse

Mumbai, Nov 28 | Updated: Nov 29 2006, 08:35am hrs
Public sector insurer Life Insurance Corporation of India (LIC), on Monday, launched Corporate Active Data Warehouse (CADW), the worlds largest warehouse in the life insurance sector and world class data centre to house its entire IT infrastructure relating to its core applications.

The CADW has been fed with data related to 28 crore policies and their transactions over the past 5 years of which 19 crore policies are live.

Moreover, over 14 crore unique customers from live policies have been allotted customer IDs to the customer data. The project would also help business users at various levels in the form of analytical reports.

Highlighting the benefits of the project TS Vijayan, chairman, LIC, said, The project will yield several benefits such as 360 degree view of customers across product lines and their buying patterns and preferences. It will also help in the performance appraisal of various channels and improve product innovation and better differentiation. More importantly, the regulatory compliance will get improved.

According to Vijayan the corporation has already exceeded its business targets.

The project covers complete data of LICs all business units.

Under the project, LICs 2048 branches, 71 pension and group business units, 7 zonal offices and the corporate office have been centralised in the CADW.