LIC processes millions of transactions daily through cash counters, banks, digital wallets, and Direct Debit (NACH). Because of this high volume, discrepancies occasionally occur between the money received and the exact premium due.
: Manages the master maintenance of the business, including tracking agent commissions and hierarchical structures. Evolving to "eFEAP-Next"
When transactions move to electronic modes—such as National Electronic Funds Transfer (NEFT), Electronic Clearing Service (ECS), National Automated Clearing House (NACH), or online payment gateways—the system creates an window. lic efeap full form
: Includes roughly 60 modules catering to functions like marketing, accounting, claims, and individual pension plans. licindia.in Technical Context Data Volume : The system manages approximately of data across 125 separate instances. Tech Stack : Built using a custom-developed structure utilizing Java/STRUTS for business logic and for its database management. Modernization
: Seamlessly integrated with other LIC systems, including the Enterprise Document Management System (EDMS), to manage policy and agency dockets. Wide Reach LIC processes millions of transactions daily through cash
Storing data for millions of customers, including agent commissions, bonuses, and policy details.
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Disclaimer: This information is based on public records from LIC regarding IT modernization up to mid-2026.
While the specific monetary limits are revised periodically via internal circulars, the core features typically include: Tech Stack : Built using a custom-developed structure
LIC is not resting on its laurels. The corporation has already initiated the next phase of its IT evolution, aptly named