ICICI Lombard General Insurance on August 3 unveiled 25 new solutions — including five industry firsts — to mark its 25th anniversary. CFO Gopal Balachandran said the idea is to create new-age products, an elevated customer experience, and greater speed and convenience through technology.
The five industry-firsts: Motor Service Assure, a time-assured roadside assistance service promising a service executive within 30 minutes in India's top 15 cities and one hour elsewhere; a fully digital insurance branch at Siddhivinayak Metro station in Mumbai, offering health, motor and travel insurance services via self-service kiosks; Voice AI, a conversational multi-lingual solution for end-to-end policy purchase with over one million calls already completed; a Personalised Travel Planner, an AI-powered trip planner that curates daily itineraries and recommends tailored travel insurance; and Smart Health Underwriting, AI-enabled real-time health underwriting with a self-guided digital journey.
Next-generation products include Elevate Her (modular, life-stage based women's health cover integrating OPD, wellness, maternity, preventive care and cancer-related financial protection), Paw Care (comprehensive pet insurance with RFID tag-based discounts), Complete Home Protect (modular home insurance), Motor Cyber Cover, enhanced compulsory personal accident cover up to Rs 50 lakh, and a private car IDV booster add-on. The company also launched service desks for senior citizens and customised solutions for MSMEs.
CEO Sanjeev Mantri confirmed the industry, via the General Insurance Council, is petitioning for a motor third-party premium revision — noting the sector has not received a TP increase in about five years.
Sources: Fortune India, Deccan Chronicle, afaqs (August 3-4, 2026)