It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. Sources said LIC expected to drastically reduce the cost of running the applications by making processing happen on the desktop. ![]() By making applications accessible through the web, LIC expects to reduce the load on its servers and improve the processing time. The contract, which involves upgrade of LIC’s front-end IT application programmes (FEAP) to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years, a highly-placed source told Business Standard. In another affirmation of its growing clout in the domestic market, Wipro Infotech, the India and Middle East information technology services business of Wipro Ltd, has clinched an IT outsourcing deal from Life Insurance Corporation (LIC) by piping its large Indian rivals. ALSO READ LIC hikes stake in UBI to 9 % buys shares worth Rs 142 cr LIC Housing hits 52-week high, slips 3% Music body launches licencing initiative to curb piracy State to strengthen police force M J Antony: Disposal of public property.
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