Insurance giant LIC is actively considering establishing a fintech arm either through strategic investment or organic way to cater to its growing digital needs, CEO and MD R Doraiswamy said.
“Naturally, to meet the modernisation requirement and particularly to bring innovation, we are engaging both fintech and insurtech players and we are getting a lot of new things being developed by such players,” Doraiswamy told PTI in an interview.
On the other side, he said, “we are a big financial institution investing in multiple organisations and we also look at strategic investments in any specialised player as a way of improving the returns on the policyholders’ funds.”
Talking about Life Insurance Corporation of India’s IT journey, he said, it was one of the early adopters of digital technologies.
“We have built our own core competence in developing our business applications by building up a software development centre. We have sizable number of people working in our IT department creati​Insurance giant LIC is actively considering establishing a fintech arm either through strategic investment or organic way to cater to its growing digital needs, CEO and MD R Doraiswamy said.
“Naturally, to meet the modernisation requirement and particularly to bring innovation, we are engaging both fintech and insurtech players and we are getting a lot of new things being developed by such players,” Doraiswamy told PTI in an interview.
On the other side, he said, “we are a big financial institution investing in multiple organisations and we also look at strategic investments in any specialised player as a way of improving the returns on the policyholders’ funds.”
Talking about Life Insurance Corporation of India’s IT journey, he said, it was one of the early adopters of digital technologies.
“We have built our own core competence in developing our business applications by building up a software development centre. We have sizable number of people working in our IT department creati ​Latest News [ SOBAN NEWS: International and National ]
