Claim Process made easier by ICICI Lombard

ICICI Lombard, the largest private general insurance company in India has launched a one of its kind Mobile Application for customers. Mr. N Eswarnatarajan, head of Operations and Technology, ICICI Lombard General Insurance announced the launch of mobile application “Insure” that will help the customer to intimate the claim through a mobile.

ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India's second largest bank with consolidated total assets of over USD 91 billion at March 31, 2012 and Fairfax Financial Holdings Limited, a Canada based USD 30 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.

ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 5,358 crore for the year ended March 31, 2012. The company issued over 76 lakh policies and settled over 44 laky claims and has a claim disposal ratio of 99% (percentage of claims settled against claims reported) as on March 31, 2012.

In this case, for example a customer can send the photographs of the damaged vehicle to the company through mobile application using “Insure” in case of an accident. The claim process of a Car Insurance Policy has been simplified for the customers and is expected to set the standards in the industry.

Mr. N Eswarnatarajan, head of Operations and Technology, ICICI Lombard said that to effectively utilize this application, customers have to download the application on their mobile phones and then can check all details of this policy through the online application.  He also added that company is planning to introduce many such products and for this company is investing in mobile application to make the customer’s experience better.