Infosys To Build Digital Platform For LIC, Streamline Life Insurance Solutions

Life Insurance Corp. of India has undertaken a digital transformation programme named DIVE (Digital Innovation and Value Enhancement). Under DIVE, LIC aims to boost its digital platform with an aim to provide superior experience to its customers, field force, partners and employees.

LIC has appointed Infosys Ltd. to build the new NextGen Digital Platform, which will be an integrated end-to-end digital insurance solution. The platform will provide customer service, business lifecycle management and operational activities for sales intermediaries and will be a digital front-end platform for branch employees.

The platform will be modular, flexible, cloud-native and have platform-driven architecture, which will be capable of adopting innovative technologies, new products and features, LIC said. It will form the foundation for building business applications such as customer and sales apps, portals and digital branch for LIC.

“Our vision is to transform LIC into a technology-enabled organisation providing life insurance solutions. We look forward to our partnership with Infosys in creating world-class digital solutions and providing best-in-class experience for all our stakeholders including customers and sales intermediaries,” said Siddhartha Mohanty, chief executive officer and managing director, LIC.

“Today we are living in a digitally connected era where customers expect their needs to be met instantly whether during on-boarding or post-sales service. Technology can help us generate greater insights about our customers and by leveraging India's advanced digital eco-system to help us serve better," Mohanty added.