New Delhi: State-owned Life Insurance Corporation (LIC) said in a regulatory filing on Monday that it has opened a new office under the Bharthana branch in the Agra division named, 'Lakhna Satellite Office'. Lakhna is a town located in the Etwah district of Uttar Pradesh. Further, the new office aims to expand the corporation's reach and its services to wider audiences.

What is the role of LIC's satellite offices?

The new office of the corporation is a satellite office. Satellite offices of LIC serve as smaller, decentralised branches that operate under the jurisdiction of a parent branch or division. These satellite offices are established in various locations to expand LIC's presence and improve accessibility to its insurance products and services for customers. The digitalised records of these satellite offices will facilitate anywhere servicing and many other conveniences in the future.

As per the LIC's website, the corporation has 2,048 branches and 1,570 satellite offices across the country until now. All these branches and satellite offices are covered under front-end operations, and they are connected through Wide Area Network (WAN). 

The corporation has also introduced new policy servicing modules pertaining to both ordinary and SSS policies in its Front-End Package catering to loans, claims, and other office operations. All these modules help to reduce time lag and ensure accuracy.

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