LGI Makes Plans to Leverage IDOL To Make a Radical Difference

British insurer Legal & General Insurance (LGI) has appointed Nick Frankland as managing director of its newly created business Fintech, effective Aug. 1. This newly created business will build and buy into a range of fintech companies that use the latest technology and innovative approaches to help and engage customers. Turns out LGI, through its fintech subsidiary Investments Discounts Online (IDOL), has been helping customers for many years get better value insurance products operating as an online comparison tool for life, travel and pet insurance. Last year more than 2 million travel policies were arranged via the IDOL comparison tool. IDOL will form a key part of the new fintech business area. This is IDOL:

And this is why I question the definition of “arranged via the IDOL comparison tool”:

“I am looking forward to joining LGI to lead the fintech business. There are a number of exciting ventures already in the pipeline that will allow us to launch new offerings to customers. We have the capability and the opportunity using technology to make a radical difference and further grow our business” – Nick Frankland.