LIC Partners with Infosys to Build Next-Gen Digital Platform
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LIC appoints Infosys to build its NextGen Digital Platform
Read more: Satya Nadella on Microsoft's big problem: '85% employees feel overworked' "Infosys...today announced its collaboration with the Life Insurance Corporation of India (LIC), the largest life insurance company in India, to spearhead its digital transformation initiative called DIVE (Digital
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LIC picks Infosys to drive digital transformation with NextGen Digital Platform
Infosys has been chosen by Life Insurance Corporation (LIC) to lead its digital transformation with the NextGen Digital Platform. This initiative, called DIVE, aims to provide omnichannel engagement and hyper-personalised experiences for LIC's customers, agents, and employees. Infosys will use its
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LIC selects Infosys for NextGen digital insurance platform project
The Life Insurance Corporation of India (LIC) has selected IT major Infosys to develop its NextGen digital platform. It will be an integrated end-to-end digital insurance solution providing "excellent services to customers, business lifecycle management and operational activities for sales
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LIC Partners with Infosys to Lead Digital Transformation with Next-Gen Platform - News18
IT services company Infosys on Monday announced it has been selected by LIC to drive its digital transformation with NextGen Digital Platform IT services company Infosys on Monday announced it has been selected by Life Insurance Corporation (LIC) to drive its digital transformation with NextGen
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LIC appoints Infosys to build its NextGen Digital Platform | Mint
Under DIVE, LIC aims to significantly boost its digital platform with an aim to provide superior experience to its customers, field force, partners and employees, the company said. Life Insurance Corporation (LIC) announced on Monday that it has appointed Infosys to lead its digital transformation
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Infosys collaborates with LIC to drive digital transformation
Infosys has announced its collaboration with the Life Insurance Corporation of India (LIC) to spearhead its digital transformation initiative called DIVE (Digital Innovation and Value Enhancement). As part of this collaboration, Infosys will help create a cutting-edge NextGen Digital Platform
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Infosys Collaborates with Life Insurance Corporation of India to Accelerate Digital Transformation
To revolutionize LIC's operations with a state-of-the art NextGen Digital Platform, focusing on omnichannel experiences and data-driven hyper-personalization for LIC's customers, agents and employees Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and
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Infosys Collaborates with Life Insurance Corporation of India to Accelerate Digital Transformation
Bengaluru, India - September 16, 2024: Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced its collaboration with the Life Insurance Corporation of India (LIC), (NSE, BSE: LICI) the largest life insurance company in India, to spearhead
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LIC partners Infosys to drive its digital transformation initiative, DIVE - Times of India
Infosys has announced that it has been selected by Life Insurance Corporation (LIC) to drive its digital transformation. The IT services company will build a NextGen Digital Platform, focusing on omnichannel experiences and data-driven hyper-personalisation for customers, agents and
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Infosys collaborates with LIC to accelerate digital transformation
The NextGen Digital Platform will enable LIC realize the objectives of DIVE, which is to deliver best in class digital initiatives for all its stakeholders, customers, intermediaries and the marketing team. The platform will also serve as an open platform, enabling swift integration with FinTech
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Life Insurance Corporation of India (LIC) has selected Infosys to develop a new digital platform, aiming to enhance customer experience and operational efficiency. This move marks a significant step in LIC's digital transformation journey.
LIC's Digital Transformation Initiative
Life Insurance Corporation of India (LIC), the country's largest insurer, has taken a significant step towards digital transformation by appointing Infosys, a leading IT services company, to develop its next-generation digital platform
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. This strategic move aims to revolutionize LIC's operations and enhance customer experience in the digital age.Project Scope and Objectives
The project, valued at ₹1,800 crore, involves the creation of a cutting-edge digital platform that will integrate various aspects of LIC's operations
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. The new system is designed to handle LIC's entire business operations, including customer management, agency management, and policy administration. It will also incorporate new-age technologies such as artificial intelligence (AI) and machine learning (ML) to improve operational efficiency and decision-making processes3
.Expected Benefits and Features
The next-gen digital platform is expected to bring several benefits to LIC and its stakeholders:
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Enhanced Customer Experience: The platform will offer a seamless digital interface for policyholders, making it easier to access services and manage policies
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Improved Operational Efficiency: By leveraging advanced technologies, LIC aims to streamline its processes and reduce operational costs.
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Data-Driven Decision Making: The integration of AI and ML will enable LIC to make more informed decisions based on data analytics.
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Scalability: The new platform is designed to handle LIC's massive scale of operations, serving over 30 crore policyholders
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Implementation Timeline and Challenges
The project is expected to be implemented over a period of 5 to 7 years, reflecting the complexity and scale of the transformation
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. One of the main challenges will be migrating LIC's vast existing data to the new platform while ensuring data integrity and security.Industry Impact and Future Outlook
This partnership between LIC and Infosys is seen as a landmark move in the insurance sector. It is expected to set new standards for digital transformation in the industry, potentially influencing other insurers to accelerate their digital initiatives. As LIC moves towards a more digitally-driven business model, it is likely to face both opportunities and challenges in adapting to the rapidly evolving digital landscape.
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