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Infosys Partners with LIC for AI-Powered Digital Transformation

Infosys, a global leader in digital services and consulting, has announced a strategic partnership with Life Insurance Corporation of India (LIC), the country's largest life insurance provider, to spearhead LIC's digital transformation initiative, DIVE (Digital Innovation and Value Enhancement).

This collaboration aims to revolutionize LIC's operations, empowering it 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.

Leveraging AI and Cloud Technologies for Digital Transformation

• 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.
• Infosys Cobalt will help LIC accelerate its cloud transformation, providing infrastructure and security through DevSecOps services.

NextGen Digital Platform for a Seamless Customer Experience

• 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.
• The platform will support open integration with Fintech companies and Bancassurance partners, allowing LIC to seamlessly collaborate with external partners and expand its ecosystem.

Empowering LIC with AI-Driven Innovation

Siddhartha Mohanty, CEO & MD, LIC, highlighted the significance of this partnership, stating, "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."

Transforming LIC's Digital Landscape with AI and Cloud

Salil Parekh, CEO & MD, Infosys, expressed confidence in the partnership, stating, "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."