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About ICICI Lombard General Insurance

It is a combined undertaking between India’s second prime bank- ICICI Bank Ltd with its total assets summing up to USD 100 billion- and Fairfax Financial Holdings Ltd.- a Canada-based financial services company.

With its 257 branches spread across the nation, it provides its services in general insurance, reinsurance, insurance claim management and investment management. Basing its plans on a customer-centric approach, the services on its offer keep changing to ensure customer satisfaction.

It offers policy insurance. It has initiated many support programs in areas like preventive healthcare, disaster support, and road safety. Its strong capitalization level and satisfactory underwriting performance have paved its way to becoming the largest private sector General Insurance company in India.

It has established its strong market leadership through their quick and efficient claim processes owing to the prompt responsivess and immediate assistance.

Accomplishments and Accolades received by it

  • It has a Gross Written Premium of Rs. 83.07 billion
  • With its overall market share of 8.4%, it has maintained its leadership in private sector
  • It has witnessed an increase in its policy volumes by 13.90%
  • It holds the record of settling 99.09% health insurance claims in the fiscal year 2016, within 30 days of claim filing
  • They settled a total of 1.62 million claims in the fiscal year 2016 which totals to an average of 3 claims every minute
  • It received the award of ‘Claim Leader- General Insurance’
  • It was assigned the rating of i-AAA by ICRA indicating its highest claim paying ability
  • It is the first company in the industry to come up with online sales channel
  • It is the first ever ISO certified general insurance company
  • It is the first insurance company to introduce weather insurance
  • It exhibited its excellence in product innovation by launching three ground breaking insurance plans- comprehensive bus insurance policy for interstate travelers, two-wheeler insurance plan with 3 years tenure and health insurance plans with coverage for OPD expenses
  • It launched self-service application called ‘Insure’ for customers to facilitate easy and fast policy purchase and renewal, GPS enabled notifications and tracking their claim status
  • It achieved top rating for being ‘Most Recommended Company’ in a survey conducted in 2013
  • It was awarded ‘Porter Prize’, ‘ASTD Best Award’, ‘Celent Asia Insurance Technology Award’ and ‘Golden Peacock Award’ in 2012
  • Bagged the award for ‘Best Claim Leader’ in Annual Indian Insurance awards 4th edition
  • Won the Golden Peacock Award For Business Excellence, Technology Innovation Award, Claim Service Leader Award in 2016

Product offered by ICICI Lombard General Insurance and the product details:

This policy covers the loss or damage to vehicle against natural calamities, man-made calamities, personal accident cover, and third party legal liability.

Though it does not cover normal wear and tear and general aging of the vehicle, depreciation or any consequential loss, mechanical/electric breakdown and any loss/damage due to war, mutiny or nuclear risk. It offers cashless repair across a wide network of garages along with free pickup, towing facility and wash benefit at selected garages.

It conducts a loss assessment survey of the vehicle within 4 hours and gives 6 months quality assurance on all repairs. In case the vehicle is serviced in a garage outside the purview of their network, then you can claim reimbursement for it.

irdai

Licensed by
IRDAI/WBA 18/14

CIN: U66000DL2011PTC214078


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