Infosys inks pact to build LIC’s new digital platform

17 Sep 2024 , 02:40 PM

On Monday, September 16, information technology behemoth Infosys announced a collaboration with Life Insurance Corporation of India (LIC) to accelerate its transformation project, Digital Innovation and Value Enhancement.

As part of the arrangement, Infosys will create a NextGen Digital Platform for LIC that would deliver seamless omnichannel engagement as well as data-driven, hyper-personalised experiences for its customers, agents, and staff.

The IT major will also provide complete system integration services, integrating AI capabilities from Infosys Topaz and DevSecOps solutions from Infosys Cobalt.

Infosys Cobalt provides a set of cloud-based solutions and platforms to accelerate cloud adoption, whereas Infosys Topaz extends them with AI-driven capabilities, such as generative AI.

Additionally, Infosys will assist in the construction of the essential infrastructure for this digital transformation and will provide ongoing monitoring and maintenance once the platform is fully operational.

The NextGen Digital Platform will help LIC meet the goals of its DIVE strategy by providing cutting-edge digital solutions for consumers, intermediaries, and marketing teams, according to the filing.

Furthermore, the platform will be an open system, allowing for seamless connection with FinTech firms and Bancassurance partners.

At around 2.25 PM, Infosys was trading marginally higher at ₹1,951.20 per piece, against the previous close of ₹1,950.20 on NSE. The counter touched an intraday high and low of ₹1,958.45, and ₹1,942.15, respectively.

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