Indian life insurance corporation (LIC) is expected to begin to propose a design paper for its public problems with the Effects and Western Exchange India (SEBI) in the third week of January, the Times of India reported.

The source told the newspaper that the top lic official signaled the date for global investors during interactions. This adds that the Ministry of Finance officials have months stated that the listing will be completed before FY22 ends, he said.

IPO Overwriving Insurance Life is ready to be the largest equity offer in India around Rs 1 Lakh Crore.

LIC officials also told investors that companies increase focus on non-participating products such as retirement, annuities, health insurance and Ulips as part of its plan to diversify the product mix, increase sales that do not participate and launch that do not participate and launch products, sources Added.

Another focus area is bancassurance, official said. LIC wants to increase the market share of the bancassurance channel and bind with more partners for this. The government managed insurance company also encourages digital adoption to increase productivity for Bancassurance partners, he said.

LIC wants to increase cross-selling and sales to individuals to increase intermediary productivity and expand the average ticket size.

The insurance giant also wants to employ more millennial agents to follow the changing demographics. About 67 percent of Indian populations are in the 15-64 year age group and the average age of nine years.