New users per day
Premium transactions per day
Combined downloads on App Store and Play store
Average rating across iOS and Android apps
LIC was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation. Thus LIC is now an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹29,80,622 crore with over 23,00,000 agents working across India.
Millennials represent nearly a third of India’s population, forming a major part of the country’s workforce, both urban and rural. In keeping with their mobile usage habits, the largest insurance carrier of India set out to boost its digital footprint across various devices and channels. The carrier wanted to create a digital storefront for all aspects of selling and servicing insurance policies.
The carrier had a significant holdover of legacy technology, particularly their in-house policy system and processes. A monolithic heavy-weight server was responsible for fielding all service requests originating from various customer, agent and staff touch points. This inevitably slowed down the requests.
The earlier customer portal of the insurer was not intuitive and its look-and-feel lacked the appeal. It had limited features, for example, it did not provide customers the option to make interest payments on against policy-related loans. They were forced to visit a physical branch for this and few other transactions.
The carrier wanted to build a formidable presence on mobile devices. They chose Intellect SEEC’s Distribution and Service Suite product to digitally transform their existing portals and move to a full service portal with a robust architecture.
Intellect SEEC team performed a thorough review of the insurer’s previous IT architecture and infrastructure, and decided that a single code base should serve both the digital portal and the apps on mobile and web.
We implemented a Business Rules Management System (BRMS) and notably improved configurability for business users. With nearly zero code, users can configure business rules with the newly developed rule engine.
We also set up a Content Management System (CMS) through which notifications, alerts and flash messages can be served on the portal and the mobile apps.
We overhauled the insurers existing e-portal which had limited capability. For instance, it allowed customers to lookup their details, but not modify them.
Our solutions strategy ensured user-friendly experience to the users, allowing for maximum configurability of systems built on the framework of a strong architecture.
Architecture and Design
This digital transformation initiative when fully completed will launch the insurer into the exponential league. We have used their existing IT systems to facilitate rapid development and deployed of a suite of competitive enterprise applications for improved business responsiveness. The initiative will touch the lives of customers, agents, merchants, service and management staff.
Future-proofing our client
Future-proofing our client
Our solution has delivered a host of benefits to the end users, and the results have started to show. Within a few days of the re-launch of the web portal, there were 7,500 new user registrations daily, approximately 50,000 premium payment transactions on a daily basis.
Omni-channel, Omni-device, Responsive Design
Authentication and Identity Management
Quick Access to Information