Infosys has announced its collaboration with the Life Insurance Corporation of India (LIC) to spearhead its digital transformation initiative called DIVE (Digital Innovation and Value Enhancement).

As part of this collaboration, Infosys will help create a cutting-edge NextGen Digital Platform focusing on delivering seamless omnichannel engagement and data-driven hyper-personalized experiences to LIC’s customers, agents and employees.

The company said it was selected by LIC for its extensive experience in executing large-scale digital transformation projects and its deep expertise in the banking, financial and insurance sectors.

Infosys will provide LIC with turnkey system integration services using AI capabilities from Infosys Topaz and DevSecOps services from Infosys Cobalt.

Infosys Cobalt is a set of services, solutions, and platforms for enterprises to accelerate their cloud journey, while Infosys Topaz, an AI-first offering suite, enhances Cobalt with Gen AI capabilities.

In addition, Infosys will help establish the infrastructure for digital transformation and ensure ongoing monitoring and maintenance once the platform is operational.

Siddhartha Mohanty, the CEO & MD of 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,”

The NextGen Digital Platform will enable LIC realise the objectives of DIVE -- to deliver best in class digital initiatives for all its stakeholders, customers, intermediaries and the marketing team. It will also serve as an open platform, enabling swift integration with FinTech companies and Bancassurance partners.

Salil Parekh, CEO & MD, Infosys, said, “Through this collaboration, we are confident LIC will be uniquely positioned to offer unparalleled service and value to their stakeholders.”