Agartala, December 12, 2022: ICICI Lombard, India’s leading private non-life insurance company, launched its latest line-up of 14 new or enhanced insurance solutions, including riders/add-ons and upgrades across Health, Motor, Travel and Corporate segments.
The slew of offerings, announced at a press conference in Agartala on Monday, offers a comprehensive array of products across categories for a wide spectrum of customers. The product suite shall transform the way consumers experience insurance, providing them a seamless journey and tech-enabled solutions.
The insurance industry is now seeing new types of risks emerging, be it pandemic, climate change or data privacy and this calls for comprehensive coverage steered by the changing customer behaviour and driven by the advent of new technological solutions and opportunities. This was the core thought behind the new offerings and propelled by the recent revolutionary announcement of Use and File’ framework from the IRDAI (Insurance Regulatory and Development Authority).
ICICI Lombard’s Arun Sharma and Dipanjali Sharma briefed the media persons highlighting the wide array of insurance offerings by segment and broad details.
Golden Shield provides financial security against uncertain health-related risks for senior citizens, a target segment that has remained underserved by the industry. The product provides customizable policies that cover exhaustive hospitalization expenses that are more relevant to customers in an older age bracket. The coverage includes expenses pertaining to room rent, ICU, doctor fees, anaesthesia, blood, oxygen, OT charges, medicines and more. It also includes medical expenses for day-care procedures/treatments requiring less than 24 hours of hospitalization, and for modern treatments including stem cell therapy, balloon sinuplasty, oral chemotherapy, robotic surgeries, deep brain stimulations and more. This comes with a unique add-on care coverage that provides the services of a healthcare professional assisting the senior individual take care of their health and keep the family members informed.
Health AdvantEdge, a flagship offering for the Global Citizen, includes domestic and worldwide international cover. It also includes enhancement of pre- and post-hospitalization, unlimited teleconsultation, air ambulance, and emergency assistance services.
BeFit: Introduced recently and a first of its kind in the industry as a cashless OPD policy, is BeFit that covers common ailments like cough/cold or minor injuries not requiring hospitalisation. It is an add-on rider to indemnity health products, which enables holistic coverage for routine OPD consultations, diagnostic tests, physiotherapy and pharmacy bills.
Comprehensive Health Insurance (CHI) & Health Booster: We have a host of products across segments and age groups like CHI, Health Booster, Criti Shield and Family Shield which offer a comprehensive spread of retail health products and in line with company’s continuum of care philosophy.
Motor Floater Insurance: Customers can enjoy the convenience of a single policy, a single renewal date, and a single premium for all their motor policies with a Motor Floater Policy. Customers opting for this product are provided with an affordable premium for their multiple vehicles insured under this offering.
Telematics add-on: This add-on covers converts the base motor product into an Asset cum Usage’ based product wherein the premium charged for the insurance of the base motor vehicle would depend partially on the usage.
Pay-As-You-Use (PAYU) Plan: Customers are provided with the flexibility to choose from different kilometre plans’ depending on usage. Hence, the premium for the policy is limited only to the extent the vehicle is used or estimated to be used by the customer.
Pay-How-You-Use (PHYU) Plan: Under this plan, the premium charged changes as per the driving behaviour score. A customer with good driving behaviour can avail of attractive discounts over the base premium of the policy.