Infosys partners with LIC India  to drive Digital Transformation

Infosys has joined hands with the Life Insurance Corporation of India (LIC) to accelerate the digital transformation process of theinsurance company through an initiative called DIVE (Digital Innovation and Value Enhancement). This partnership will leverage Infosys' advanced technologies to create a state-of-the-art NextGen Digital Platform aimed at delivering personalized, omnichannel experiences to LIC's customers, agents, and employees.

The collaboration marks a pivotal step for LIC, as it seeks to modernize its operations and enhance customer engagement. Infosys was selected for its deep expertise in digital transformation within the financial sector and its proven capabilities in large-scale, technology-driven projects. As part of the partnership, Infosys will integrate cutting-edge artificial intelligence (AI) and cloud services, combining the power of Infosys Topaz, a suite of AI-first offerings with Infosys Cobalt, a cloud solutions platform.

This new platform will not only offer seamless engagement across multiple channels, but it will also provide hyper-personalized services to LIC's stakeholders, enhancing the overall experience for its customers, intermediaries, and internal teams. Additionally, the platform will foster easier collaboration with FinTech firms and bancassurance partners, further expanding LIC’s digital ecosystem.

Shri Siddhartha Mohanty, CEO and MD of LIC, expressed excitement about the collaboration, stating, "Our partnership with Infosys represents a significant milestone in our digital journey. This initiative will enhance LIC’s ability to serve our vast network of customers, agents, and employees by providing them with more personalized and efficient services. By leveraging Infosys' technology, we are committed to bringing innovation and improvements to our offerings."

Salil Parekh, CEO and MD of Infosys, commented, "LIC is an iconic institution in India, and we are thrilled to partner with them on this transformative journey. With our deep expertise in AI, cloud, and digital infrastructure, we aim to provide LIC with the tools needed to deliver exceptional customer experiences, improve operational efficiencies, and adapt swiftly to market demands."

This strategic partnership between Infosys and LIC underscores both companies' commitment to harnessing the latest in AI and cloud technologies to revolutionize the insurance industry, setting a new standard for customer service and operational excellence.