ICICI Lombard General Insurance has launched 25 innovative solutions, including 5 industry-firsts, to mark its 25th anniversary. These customer-centric offerings span health, motor, home, travel, and commercial insurance, leveraging new-age technologies like AI. The company aims to enhance customer experience by providing personalized, meaningful, and future-ready insurance solutions.
ICICI Lombard Celebrates 25 Years with Major Innovation Drive
As ICICI Lombard General Insurance celebrates its Silver Jubilee, the company has unveiled a significant portfolio of 25 new innovations, comprising 5 industry-first solutions. This strategic move underscores the company’s commitment to customer-centricity and its evolution beyond traditional financial protection.
Key Innovation Highlights
The newly launched innovations are designed to address diverse customer needs across various insurance lines, including health, motor, home, travel, and commercial insurance. These solutions aim to exemplify a customer-first approach by integrating AI and other advanced technologies to enhance the entire insurance lifecycle. Highlights include:
Next-Gen Products
- Elevate Her: A modular women’s health product covering OPD, wellness, maternity, and cancer protection, with four customized plans for different life stages.
- Paw Care: A comprehensive pet insurance plan covering veterinary expenses, emergencies, illnesses, and routine care, featuring long-term coverage and RFID tag discounts.
- Complete Home Protect: A modular solution for homeowners offering protection for interiors, jewelry, and art, with extended policy tenures up to 30 years and fixed capital appreciation.
- Motor Cyber Cover: Protects against cyber incidents affecting connected vehicles, including unauthorized access, hacking, and cyber extortion.
- Enhanced Compulsory Personal Accident – Motor: Option to increase owner-driver personal accident cover up to ₹50 lakh.
- Power Booster Plus – Elevate: A renewal time coverage enhancer for existing Elevate policyholders, offering an immediate boost to health cover.
- Private Car IDV Booster: Enables enhancement of the vehicle’s Insured Declared Value beyond standard depreciation-based IDV for better financial protection.
Elevating Service Experience
- Digital Branch @ Siddhivinayak (Industry First): India’s first fully digital metro insurance branch for seamless access to health, motor, and travel insurance services.
- Motor Service Assure (Industry First): A time-assured roadside assistance service with a 30-minute commitment in top 15 cities.
- Motor Sahayak: Premium service offering immediate assistance for private car emergencies, including legal and procedural facilitation.
- Specialised Service Desk: Personalized service for senior citizens and priority groups, offering faster and seamless assistance.
AI-led Innovations
- Voice AI (Industry First): An AI-driven platform for natural, human-like voice interactions across the insurance journey, available 24×7 in Hindi and English.
- Personalised Travel Planner (Industry First): An AI-powered trip planner integrated into the IL TakeCare app, offering curated itineraries and seamless travel insurance booking.
- Smart Health Underwriting (Industry First): AI-powered underwriting for health insurance, delivering faster, seamless, and intuitive end-to-end customer experience.
- Intelligent Risk Monitoring (Industry First): An AI platform for faster, fairer health claims processing, focusing on fraud detection and leakage.
- Real Time Social Intelligence: AI platform to monitor customer sentiments and identify emerging issues for quick grievance redressal.
- Augmented Sales IQ: AI-powered sales enablement platform for corporate and SME sales teams.
- Auto Ninja 2.0: Mobile first CRM for partners: A next-generation CRM platform for channel partners enhancing renewal efficiency and customer servicing.
- Account Aggregator for faster claim settlement: Leverages RBI-regulated framework for simplified and transparent motor claim verification.
- Drive Smart: Mobile Telematics for Personalised Driving Insights: Feature within the IL TakeCare app offering personalized driving scores and insights.
Company Vision
Sanjeev Mantri, Managing Director & CEO, ICICI Lombard, stated, “For 25 years, the ethos of ICICI Lombard has been simple – to stand by our customers for promises we have made and innovate for every promise of tomorrow.” The company has served over 500 million customers and settled more than 60 million claims, aiming to shape the next phase of protection where customers can not only recover from risks but also anticipate and manage them.
The information regarding these innovations will also be available on the company’s website at https://www.icicilombard.com.
Source: BSE
