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Life Insurance Corporation of India (LIC), owned by the government of India, is a provider of life insurance plans. The company offers endowment plans, money back plans, term assurance plans, pension plans, special plans, unit plans, group schemes, child plans, and health insurance plans. It operates through zonal offices in Mumbai, Kolkata, Chennai, Hyderabad, Delhi, Kanpur, Bhopal, and Patna. LIC offers its products in India through associates and agents. The company also has operations in Fiji, Mauritius, the UK, Bahrain, Nepal, Sri Lanka, Saudi Arabia, Kenya, Bangladesh, and Singapore.
This report provides insights into LIC’s fintech activities, including its digital transformation strategies, its technology initiatives, and its estimated ICT budget.
- LIC is strengthening its focus on the use of innovative technologies including cloud, cybersecurity, data analytics, and data centers to enhance its digital capabilities.
- LIC operates a unified data warehouse that acts as a single source of information for various business operations.
- LIC created a cybersecurity cell to ensure compliance with the Insurance Regulatory and Development Authority of India’s Guidelines on Information and Cyber Security for Insurers.
Reasons To Buy
- Learn about LIC’s fintech operations, including investments, product launches, partnerships, and acquisitions.
- Gain insight into its fintech strategies and innovation initiatives.
- Discover which technology themes are under the group’s focus.