LIC Eyes Fintech Foray, Weighs Organic Build & Partnership-Led Model

by · Inc42

SUMMARY

  • Insurance major is mulling a fintech arm via organic build or strategic investments as part of its digital push
  • The insurer is engaging fintech and insurtech firms to modernise its technology stack and improve efficiency
  • LIC said no final decision has been taken yet, while it continues to focus on upgrading IT systems and improving agility amid growing competition in the insurance sector