The IPO-bound Life Insurance Corporation of India has pursued Expression of Interest (EoI) from bidders to provide consultancy services for its digital transformation.
The EoI has been invited from eligible management and strategy consultants who can evaluate the insurer's current IT setup, map it with current trends and best practices in Banking, Financial Services, and Insurance (BFSI) sector globally, and articulate a strategy roadmap for its business-led digital transformation.
The strategy should be in order of LIC's business strategy aiming for organizational growth, sustainable competitive advantage, increased productivity of intermediaries, creating a unique as well as best value for customers.
LIC is one of the pioneering organizations in India who introduced the leverage of Information Technology in servicing and in their business. Data concerning almost 10 crore policies is being held on computers in LIC. We have gone in for relevant and appropriate technology over the years.
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