ICICI Lombard Launches Revolutionary AI-Powered Health Insurance Product ‘Elevate’
ICC AI-Driven ‘Elevate’ for Infinite Coverage and Personalization
BILKULONLINE
Ahmedabad, Aug 9: ICICI Lombard, a leading private general insurer in India, proudly announces the launch of its innovative health insurance product, ‘Elevate’. This AI-powered, first-of-its-kind health insurance offering is equipped with cutting-edge features and add-ons, designed to provide personalized solutions for dynamic lifestyles, unforeseen medical emergencies, and rising medical costs. This significant launch highlights ICICI Lombard’s commitment to pioneering advancements in the insurance industry, delivering exceptional value to its customers.
Comprehensive Coverage and Flexibility
Designed to cater to the rapidly evolving healthcare ecosystem, ‘Elevate’ offers a suite of personalized, customer-centric plans that prioritize comprehensive coverage and flexibility. The key features of ‘Elevate’ include:
Infinite Sum Insured: This feature ensures that policyholders never run out of coverage, addressing concerns of limited coverage and sum insured.
Infinite Claim Amount: This add-on offers comprehensive financial protection with an infinite claim amount for a one-time claim during the policy’s lifetime, regardless of the sum-insured amount.
Power Booster Add-on: Provides a 100% cumulative bonus annually, irrespective of claims, for an indefinite period.
Reset Benefit: Triggers unlimited resets of coverage, ensuring continuous protection regardless of claims.
Infinite Assurance: This jump-start add-on allows individuals with pre-existing conditions like asthma, diabetes, hypertension, hyperlipidemia, and obesity to benefit from the policy after 30 days, as opposed to the industry norm of a 3-year waiting period.
AI-Driven Personalization
Leveraging the power of AI, ‘Elevate’ interprets customer inputs to deliver optimal coverage recommendations, ensuring each policy is uniquely suited to individual requirements. This bespoke approach to health insurance provides extensive protection while catering to personal health and financial considerations, making it more adaptable and responsive to customer needs.
Diverse In-Built Covers and Personalization Options
True to its motto – the power of infinite personalization, ‘Elevate’ comes packed with 15 in-built covers and multiple personalization options. These include coverage for 20 critical illnesses, personal accident, maternity, newborn cover, accommodation and travel benefits, preventive care, inflation protector, air ambulance, personalized home care, and more.
Leadership Perspective
Anand Singhi, Chief of Retail and Government at ICICI Lombard, stated, “‘Elevate’ embodies our steadfast dedication to pioneering innovation and customer-centricity. As a groundbreaking industry first, powered by an AI-Engine, ‘Elevate’ will redefine health insurance, ensuring a deeply personalized experience tailored to customers’ unique needs. With add-ons such as ‘Infinite Care’ and ‘Power Booster,’ we have set a new standard in health insurance, empowering our customers with unparalleled peace of mind in an increasingly dynamic world.”
ICICI Lombard’s Legacy
ICICI Lombard is committed to customer-centricity by integrating innovation into every facet of its operations, especially personalized insurance solutions enhanced by cutting-edge technology. As the leading private general insurance company in the country, ICICI Lombard offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance.
With a legacy spanning over two decades, ICICI Lombard remains dedicated to its brand philosophy of ‘Nibhaye Vaade’. The company has issued over 36.2 million policies, honored over 2.9 million claims, and reported a Gross Written Premium (GWP) of ₹255.94 billion for the year ending March 31, 2024. With 312 branches and 13,670 employees as of March 31, 2024, ICICI Lombard continues to lead the industry, being the first large-scale insurance company in India to migrate its entire core systems to the cloud.
The launch of ‘Elevate’ marks a significant milestone in ICICI Lombard’s journey, showcasing its commitment to innovation and customer-centricity. By harnessing AI and offering unparalleled features, ‘Elevate’ sets a new benchmark in health insurance, providing customers with comprehensive, flexible, and personalized coverage.
