Description

Date - 24th Jun 2021

The Life Insurance Corporation (LIC) has launched a centralized workflow-based IT platform called e-PGS. LIC launched this platform for its group business operations. The e-PGS project was launched by LIC Chairman M. R. Kumar at the headquarters in Mumbai.

The first digital receipt created on the new IT platform was received by Rakesh Sharma, Managing Director and Chief Executive Officer of IDBI Bank.

The new e-PGS technology platform was developed to provide a centralized collection and accounting of payments with a high level of integration with banks. It will provide collection across the host-to-host connection. It was designed to provide highly innovative seamless and integrated banking with automatic reconciliation.

This system is capable of providing comprehensive self-service capabilities through a customer portal. Through this portal, corporate clients will be able to view their data, initiate processes requiring action, and submit and track complaints. It has been designed to meet the expectations of high-tech corporate clients.

It will provide high-level integration services with customers' technological systems for seamless data and service transfer.

About LIC

LIC is an Indian government insurance and investment corporation. It is owned by the Ministry of Finance. It was established on September 1, 1956 by the Life Insurance Act of India.

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