Life Insurance Corporation of India (LIC), the largest life insurance company in India, has selected Infosys to support its digital transformation initiative.
Infosys will provide LIC with system integration services using AI capabilities from Infosys Topaz and DevSecOps services from Infosys Cobalt.
In addition, Infosys will help establish the necessary infrastructure for digital transformation and ensure ongoing monitoring and maintenance once the platform is operational.
Siddhartha Mohanty, CEO & MD of LIC, said: “Our digital transformation will enhance our operational capabilities and offer more personalized experience to customer, agent and employees.”
Infosys has generated sales revenue of $18.562 billion in financial year 2023-24. Infosys has generated $464 million from India representing 2.5 percent of its total sales. Revenue from financial services and insurance customers was $5.08 billion, accounting for 27.4 percent of its total revenue.
Salil Parekh, CEO & MD, Infosys, said: “By leveraging Infosys’ 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.”
