Last year we had the pleasure of speaking with Morgan Spillane of Legal & General’s U.K. Business. In this episode of Life Accelerated, our guest is Raju Seetharaman who is leading the digital transformation charge for Legal & General America.
It was interesting to hear Raju speak to the use of data in real time customizations for the policy holder during the buying experience, and about Legal & General America’s advanced pricing capabilities. The way Legal & General America is using AI to provide a highly customized and personalized experience is akin to many other customer facing interactions that U.S. consumers are already used to, but the company also has extraordinary strengths to bring to bear in its mission to achieve market dominance.
For example, notes Raju, “Underwriting innovation is the number one focus area for us, so we are always innovating and finding new ways to access information.”
Legal & General America can be seen as a threat to other domestic life insurance companies emerging from a powerful transatlantic company. But perhaps a better way to look at its impact on the North American life insurance industry is that it will help to drive competitors to higher levels of excellence.
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