Infosys Joins Forces with LIC to Drive Digital Transformation with NextGen Platform Infosys Topaz, a generative AI suite, will drive automation and personalization efforts, while Infosys Cobalt will help LIC accelerate its cloud transformation
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Infosys, a global leader in digital services and consulting, has announced its partnership with Life Insurance Corporation of India (LIC) to spearhead the latter's digital transformation initiative, DIVE (Digital Innovation and Value Enhancement). LIC, one of India's largest life insurance providers, aims to revolutionize its operations with a state-of-the-art NextGen digital platform designed to deliver seamless, omnichannel experiences and hyper-personalized services for its customers, agents and employees.
Under this collaboration, Infosys will leverage its extensive expertise in executing large-scale digital transformation projects within the banking, financial and insurance sectors. The tech giant's AI-powered offerings, Infosys Topaz and Infosys Cobalt, will play a pivotal role in the initiative. Infosys Topaz, a generative AI suite, will drive automation and personalization efforts, while Infosys Cobalt will help LIC accelerate its cloud transformation, providing infrastructure and security through DevSecOps services.
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."
The NextGen digital platform is expected to transform LIC's digital landscape by offering an integrated, data-driven solution to engage stakeholders across various channels. For customers, it will enable tailored experiences, while LIC's agents and employees will benefit from streamlined processes and enhanced tools for customer interaction and operational efficiency. Additionally, the platform will support open integration with FinTech companies and Bancassurance partners, allowing LIC to seamlessly collaborate with external partners and expand its ecosystem.
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."
