LIC Partners with Infosys for Next-Generation Digital Platform Under DIVE Programme
| Aspect | Details |
|---|---|
| Organizations Involved | Life Insurance Corporation of India (LIC) and Infosys |
| Project Name | DIVE (Digital Innovation and Value Enhancement) Programme |
| Objective | Develop a next-generation digital platform for LIC |
| Platform Features | Modular, cloud-native, adaptable to emerging technologies, integrated end-to-end solution |
| Financial Details | Not disclosed |
| Previous IT Collaborations | Tata Consultancy Services (TCS) and Tech Mahindra |
| Expected Benefits | Enhanced customer services, streamlined business lifecycle management, improved operational activities for sales intermediaries, robust digital front-end for branch employees |
| Financial Performance (Q1 FY25) | Net profit: Rs 10,461 crore (9.61% increase), Premium income: Rs 1.13 trillion (15.66% rise), Individual premiums: Rs 67,192 crore (7.04% growth), Group premiums: Rs 46,578 crore (30.87% surge), Share price: Rs 1,027.75 apiece (0.60% decline) |