Infosys Collaborates with Life Insurance Corporation of India to accelerate Digital Transformation

Infosys (NSE, BSE, NYSE: INFY), a global leader in nextgeneration 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 its digital transformation initiative called DIVE (Digital Innovation and Value Enhancement). As part of the collaboration, Infosys will enable the creation of a cutting-edge NextGen Digital Platform, which will focus on delivering seamless omnichannel engagement and data-driven hyper-personalized experiences to LIC's customers, agents and employees.

Infosys was selected by LIC for its extensive experience in executing large-scale digital transformation projects and its deep expertise in the banking, financial and insurance sectors. Infosys will provide LIC with turnkey system integration services using AI capabilities from Infosys Topaz and DevSecOps services from Infosys Cobalt. Infosys Cobalt is a set of services, solutions, and platforms for enterprises to accelerate their cloud journey, while Infosys Topaz, an AI-first offering suite, enhances Cobalt with generative AI capabilities. In addition, Infosys will help establish the necessary infrastructure for digital transformation and ensure ongoing monitoring and maintenance once the platform is operational.

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 companies and Bancassurance partners.

Shri Siddhartha Mohanty, CEO & MD, LIC, said, "Our collaboration with Infosys marks a significant milestone in our digital transformation journey. It will not only enhance our operational capabilities, but also enable us to cater to our vast customer, agent and employee base with newer, more personalized experiences. We are committed to leveraging the latest technologies that Infosys has to offer, including Cloud and Enterprise AI, to drive innovation and improve our offerings."

Salil Parekh, CEO & MD, Infosys, said, "LIC is a name that resonates across generations of Indians and we are delighted to collaborate on their transformation journey. By leveraging Infosys' extensive experience in digital transformation initiatives and prowess in AI and Cloud, we aim to equip LIC with a robust digital infrastructure that will deliver superior customer engagement, enhance operational efficiency and enable rapid market responsiveness. Through this collaboration, we are confident that LIC will be uniquely positioned to offer unparalleled service and value to their stakeholders."

Shares of Infosys Limited was last trading in BSE at Rs. 1944.30 as compared to the previous close of Rs. 1950.35. The total number of shares traded during the day was 300090 in over 9679 trades.

The stock hit an intraday high of Rs. 1958.70 and intraday low of 1935.45. The net turnover during the day was Rs. 585279824.00.

Source : Equity Bulls

Keywords

Infosys INE009A01021 INFY LIC DigitalTransformation DIVE