Digitalization in the Insurance sector has constantly played a very imperative role in the operations of every insurance company. The swift innovation in the area of information and communication technology has stood with serious challenges for the insurance industry in India. Digitalization has facilitate insurance companies to collect premium easily and reduce operating cost. Sound management is crucial for the financial stability of insurers. It is very difficult; however, to find any direct quantitative measure of management soundness, the indicator of operational efficiency is likely to be correlated with general management soundness. Unsound efficiency indicators could flag potential problems in key areas, including the management of technical and investment risks. The efficient management shall reflect in operating expenses, and gross premium, affecting overall operating efficiency of the insurance concerns, reflecting management soundness. Thus, the research paper is an attempt to examine impact of digitalization on growth of Life Insurance Corporation of India (LIC) and SBI Life Insurance Co. Ltd by analyzing management soundness of both the companies.