Legal and General (L&G) – Digital Transformation Strategies
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Legal & General (L&G) Digital Transformation Strategies Report Overview
Legal & General (L&G) has been focusing on emerging technologies as a part of its digital transformation strategies. The annual ICT spending of L&G was estimated at $391.9 million in 2022. A major share of this spending is earmarked for acquiring software, hardware, and consulting from vendors. L&G provides insurance, saving, and investment products, it offers individual and group protection plans, annuities, mortgages, pension plans, and general insurance products.
Total ICT Spending 2022 | $391.9 million |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Cloud Computing, Blockchain and Robotic Process Automation |
The L&G Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
L&G is focusing on a digital first strategy by implementing new technologies such as the cloud, robotics, AI, data analytics, and blockchain to become more agile and competitive. It has launched its blockchain based Pension Risk Transfer (PRT) reinsurance platform “estua re”, leveraging Amazon Web Services (AWS) to replace all processes and systems with a single ecosystem. The company has also introduced a digital broker platform for online client management. L&G is leveraging robotic process automation (RPA) to improve its customer service. It has deployed NICE RPA into the organization, along with human employees, to maximize operational efficiencies and optimize call resolution times. The company is embracing mobile technology and allows its insurance customers to access quotes, apply, and review their policies via the same platform. Additionally, L&G is using cloud technology to streamline its global trading operations.
To gain more insights on digital transformation strategies and initiatives of L&G, download a free report sample
L&G Technology Theme Focus
L&G is utilizing number of emerging technologies including artificial intelligence, big data, blockchain, cloud computing and robotic process automation to improve operational efficiency, diversify product portfolio, and enhance customer experience.
L&G Technology Focus
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L&G Technology Initiatives
L&G has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, acquisitions, and technology investments over the past few years. For instance, L&G and Unitek partnered to automate the process of tracing pension claims. Unitek’s no-code automation platform uses AI technology to automate part of the tracing process, enabling L&G to trace 1.6 billion unclaimed pensions.
For more insights on other technology initiatives of L&G, download a free report sample
L&G ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
L&G ICT Spend by Function, 2022(%)
For more insights on ICT spending by function, download a free report sample
L&G ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
L&G ICT Spend by Channel, 2022(%)
For more insights on ICT spending by channel, download a free report sample
L&G External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
L&G External ICT Spend by Segment, 2022(%)
For more insights on external ICT spending by segment, download a free report sample
Scope
This report provides:
- Insight into L&G’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into L&G’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of L&G in 2022?
The annual ICT spending of L&G was estimated at $391.9 million in 2022.
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Which was the largest ICT spending category by function for L&G?
Data center was the largest ICT spending category by function for L&G in 2022.
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Which was the largest ICT spending category by channel for L&G?
Internal development and maintenance was the largest ICT spending category by channel for L&G in 2022.
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Which was the largest ICT spending category by segment for L&G?
Software (including cloud SaaS) was the largest ICT spending category by segment for L&G in 2022.
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What are the key technology themes in focus for L&G?
The key technological theme in focus for L&G are artificial intelligence, big data, blockchain, cloud computing and robotic process automation.
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