♦ The Life Insurance Corporation of India (LIC) announced the launch of 'Jeevan Samarth'. This is an initiative aimed at transforming the agency ecosystem. To achieve this, LIC has partnered with a global consulting firm, which will undertake this agency transformation project by reviewing its existing agency framework on an end-to-end basis.

♦ It will also entail revamping the agency operations at the branch, division and zonal level directed towards establishing global best practices in the wake of the fast-changing industry and regulatory landscape of the insurance sector.