LIC, UTI bank tieup for IT-enabled premium collection

Chennai, Feb 26 (UNI) Life Insurance Corporation of India (LIC) and UTI Bank have joined hands to bring a unique business-to-business technology integration for facilitating collection of LIC premimum at the branch extension counters of UTI bank.

The process permits an LIC customer to pay his renewal premimum at any branch or extension country of UNI bank, LIC regional manager Latan said in an official release here today.

The facility opens in the Mumbai branches of UTI bank from February 23 and within a couple of weeks the same facility would be extended in all UNI bank branches in the country.

To start with, ULIP policies have not been covered in this system.

UTI Bank had a network of 455 branches, 53 extension counters and 2223 ATMs across the country, he added.

UNI