In an exclusive Republic Day interview, Debashis Prasad Pattanaik, CEO and Executive Director of LIC International BSC, detailed the company’s remarkable 36-year journey serving non-resident Indians across GCC nations. The insurance giant has established a formidable presence since commencing operations in 1989, providing dollar-denominated financial solutions specifically tailored for expatriate requirements.
The United Arab Emirates represents a particularly strategic market for LIC International, hosting one of the largest Indian diaspora communities globally. Pattanaik emphasized the UAE’s combination of robust regulatory frameworks, financial transparency, and rapid technological adoption as key factors making it an ideal environment for long-term financial planning. The dollar-denominated policies offered in the region provide customers with currency stability when planning for education, retirement, and intergenerational wealth transfer.
Despite significant market volatility throughout 2025, the company achieved sustainable growth through a disciplined long-term investment strategy. Rather than reacting to short-term market fluctuations, LIC International focused on appropriate asset allocation within their Unit Linked Insurance Plans (ULIPs) aligned with individual risk profiles and life stages. This approach enabled policyholders to continue building wealth in US dollars while maintaining essential life insurance coverage.
Digital transformation played a pivotal role in the company’s 2025 success story. Enhanced digital onboarding processes, online policy management systems, and real-time fund performance tracking capabilities allowed customers worldwide to manage their investments with unprecedented convenience. The organization is now advancing its technological infrastructure through artificial intelligence integration to further streamline product accessibility and service delivery.
Social media engagement has emerged as a crucial component of LIC International’s outreach strategy, particularly for connecting with younger NRI demographics. These platforms serve as educational tools that help potential customers make informed financial decisions through better product understanding.
Pattanaik highlighted that trust remains the cornerstone of their relationship with the Indian diaspora, earned through 36 years of consistent service delivery, transparent processes, and reliable claim settlements. This trust factor proves especially critical for NRIs who must navigate complex cross-border financial planning involving multiple currencies and regulatory environments.
Concluding with Republic Day greetings, the CEO encouraged global Indian communities to continue contributing positively to both their host countries and homeland while preserving India’s rich cultural heritage for future generations.