Life Insurance Corporation (LIC) has selected Infosys to advance its digital transformation by adopting next-generation digital platforms. According to information provided by Infosys, under this initiative the focus will be on better experiences and data-driven personalization for customers, agents and employees. The company did not disclose the amount of this deal. At present, LIC customers have to rush to the local branch to get many kinds of work done. Whereas this is not the case with banks. Customers can walk into any bank branch to get similar work done. Let us also tell you how Infosys is going to transform LIC.
Infosys Diving Program
According to a statement, Infosys today announced its collaboration with Life Insurance Corporation of India, India’s largest life insurance company, to launch a digital transformation program called LIC DIVE (Digital Innovation and Value Enhancement). Under the agreement, Infosys will build a next-generation digital platform that will focus on delivering better engagement and data-driven personalized experiences for LIC customers, agents, and employees. The statement said that LIC chose Infosys considering its deep knowledge and experience in the banking, finance, and insurance sectors. This digital platform will be modular, flexible, and cloud-native.
Will such facilities be available?
Infosys will lay the foundation for LIC to build high-value business applications like super apps for customers and sales, portals and digital branches through this platform. On the other hand, LIC customers will get many types of services including end-to-end integrated digital insurance from this Infosys platform. Apart from this, this platform will provide the facility of a digital user interface platform for branch employees. Currently, LIC is focusing on new technologies. This is the reason why LIC has chosen Infosys.
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What does the LIC CEO say?
Siddharth Mohanty, MD and CEO of LIC, said that his aim is to transform LIC into a company that provides life insurance solutions. He said that LIC has partnered with Infosys to provide world-class digital facilities to its customers and employees. He said that technology can help us gain better insights about our customers and provide better service by leveraging the country’s advanced digital ecosystem.
