Life Insurance Corporation (LIC) on Monday announced that it has appointed Infosys to lead its digital transformation through the NextGen Digital Platform. The initiative will focus on delivering omnichannel experience and data-driven hyper-personalization for customers, agents, and employees. The company did not disclose the financial details of the deal.
“LIC has appointed Infosys to build its new advanced NextGen digital platform, which will be an integrated end-to-end digital insurance solution providing quality services to customers, business lifecycle management and operational activities to sales intermediaries, and a digital front-end platform to branch staff,” the company said in a release.
With the support of DIVE, LIC aims to significantly enhance its digital platform with the aim of providing a superior experience to its customers, field personnel, partners and employees, the company said.
Siddhartha Mohanty, CEO and Managing Director, LIC said, “Our vision is to transform LIC into a technology-enabled organization that provides life insurance solutions. We look forward to working with Infosys to build world-class digital solutions that provide a best-in-class experience to all stakeholders, including customers and sales intermediaries.”
What is the NextGen Platform?
The NextGen digital platform will be modular, flexible, cloud-native, and have a platform-driven architecture that will enable rapid adoption of innovative technologies, new products, and new capabilities. The platform will provide the foundation for building high-value business applications such as customer and sales super apps, portals, and LIC digital branches.
Highlighting the need for digital transformation, Mohanty added, “Today we live in a digitally connected era where customers expect their needs to be met instantly, be it during onboarding or post-sales service. Technology can help us understand our customers better and help us provide better services by leveraging India’s advanced digital ecosystem.”
Infosys will provide turnkey system integration services to LIC, leveraging the AI capabilities of Infosys Topaz and the DevSecOps services of Infosys Cobalt.
Infosys Cobalt comprises a suite of services, solutions and platforms designed to accelerate enterprises’ cloud journey, while Infosys Topaz enhances Cobalt by generating AI capabilities.
In addition, Infosys will assist in setting up the infrastructure required for digital transformation and provide ongoing monitoring and maintenance of the platform once it is operational.
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