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  5. Infosys collaborates with LIC to accelerate digital transformation; shares flat

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Infosys collaborates with LIC to accelerate digital transformation; shares flat

Upstox
By Upstox News Desk

2 min read | Updated on September 16, 2024, 13:13 IST

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SUMMARY

As part of the collaboration, Infosys will enable the creation of a cutting-edge NextGen Digital Platform, which will focus on delivering seamless omnichannel engagement and data-driven hyper-personalised experiences to LIC’s customers, agents, and employees.

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LICI
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Last seen, Infosys was trading 0.12% lower at ₹1,941.90

Last seen, Infosys was trading 0.12% lower at ₹1,941.90

Infosys, India's second-largest IT services company, on Monday, September 16, announced its collaboration with the Life Insurance Corporation of India (LIC), the largest life insurance company in India, to spearhead its digital transformation initiative called DIVE (Digital Innovation and Value Enhancement). 

As part of the collaboration, Infosys will enable the creation of a cutting-edge NextGen Digital Platform, which will focus on delivering seamless omnichannel engagement and data-driven hyper-personalised experiences to LIC’s customers, agents, and employees.
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Infosys 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 generative AI capabilities. In addition, Infosys will help establish the necessary infrastructure for digital transformation and ensure ongoing monitoring and maintenance once the platform is operational, the press release added. 

Commenting on collaboration, Salil Parekh, CEO & MD, Infosys, said, “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."

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"Through this collaboration, we are confident that LIC will be uniquely positioned to offer unparalleled service and value to their stakeholders," Parekh adds. 

Shares of the companies were trading flat post the announcement. Last seen, Infosys was trading 0.12% lower at ₹1,941.90 while LIC shares were trading nearly 0.4% lower at ₹1,030.05 on the BSE.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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