New Delhi, April 15: Life Insurance Corporation of India (LIC) has gone high-tech to understand the usage profiles of its customers and policies taken in order to customise offerings and bundles and effectively manage them.

Metadata, a division of NCR Corporation, today bagged an order of about Rs 5 crore to provide data warehousing solutions to LIC. The corporate active data warehouse (CADW) of Metadata is a 60-terabyte solution and the largest data warehouse project of its kind in India.

This will also help the largest insurance company to track large volumes of cash transactions per day.

According to the Insurance Regulatory and Development Authority of India, Life Insurance Corporation issued 169.16 lakh policies during April to February, 2004-05.

One terabyte is 1,024 giga bytes of data. One giga byte has the capacity to store and process a book with a crore of words in it.

The CADW will cater to business volumes larger than 160 million insurance policies of 130 million policyholders with large volumes of cash transactions per day.

With more that 24.5 million policies sold every year, LIC is one of the largest life insurance companies in the world. It has a 77 per cent market share.

T. S. Vijayan, managing director of LIC, said, ?Being the largest life insurance company in India, LIC is constantly evolving its offerings to best suit the changing needs of its customers. We envisage Teradata?s data warehousing solutions will empower LIC with tremendous analytical capabilities and help in designing customer-oriented insurance products.?