Infosys, the Bengaluru-based IT behemoth, has announced a strategic partnership with the Life Insurance Corporation of India (LIC), the country’s largest life insurance company. The collaboration is aimed at driving LIC’s digital transformation initiative, DIVE (Digital Innovation and Value Enhancement).

What Happened: Infosys revealed on Monday its alliance with LIC to fast-track the latter’s digital transformation initiative. The partnership is designed to create a state-of-the-art NextGen Digital Platform that focuses on omnichannel engagement and data-driven hyper-personalisation for LIC’s customers, agents, and employees, the company said in a press release.

See Also: Adani Power, Adani Green Gain Up To 7% On Power Agreement With Maharashtra Govt, Opposition Reacts

The platform will utilise Infosys’ AI capabilities from Infosys Topaz and DevSecOps services from Infosys Cobalt to deliver a seamless digital experience.

Siddhartha Mohanty, CEO at LIC, expressed his enthusiasm about the partnership, stating, “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.”

Salil Parekh, CEO at Infosys, echoed Mohanty’s sentiments, stating that the collaboration aims to equip LIC with a robust digital infrastructure that will enhance operational efficiency and enable rapid market responsiveness.

Price Action: Shares of Infosys were trading flat at ₹1,941.90 whereas LIC was muted at ₹1,034.60 on Monday morning.

Read Next: Why This Analyst Sees Garden Reach Shares Going Up Another 17%