India, June 1 -- 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 j...