LIC (Photo: Shutterstock) State-owned Life Insurance Corporation of India (LIC) has committed Rs 600 crore towards its digital transformation journey, said Sunder Krishnan, chief risk officer (CRO), LIC, on Wednesday. Additionally, the insurance giant is aiming to become completely "paperless" in two years’ time, he said. Speaking at an event organised by the Bengal Chamber of Commerce in Mumbai, Krishnan said, “We have already hired a large system integrator for more than Rs 400 crore; we have hired a consultant for digital transformation for Rs 100 crore; and Rs 100 crore for agency transformation. So, in total, Rs 600 crore is being spent on digital transformation.” Click here to connect with us on WhatsApp Earlier this week, the life insurer announced that it had roped in tech giant Infosys to develop its next-generation digital platform, which will lay the foundation for building high-value business applications, including customer and sales super apps, portals, and digital branches for the corporation. This is part of the life insurer’s digital transformation programme – Digital Innovation and Value Enhancement (DIVE). The programme is aimed at strengthening the insurance company’s digital platform to provide a superior experience for its customers, field forces, partners, and employees. […]
Click here to view original web page at www.business-standard.com
