ICICI Lombard General Insurance is a trusted name in India’s insurance landscape. Backed by ICICI Bank, one of India’s leading private sector banks, and Fairfax Financial Holdings, the company has built a reputation for providing innovative and customer-centric insurance solutions. With a strong digital footprint, extensive network, and diverse product range, it has emerged as a market leader in the general insurance sector.
In a country where financial protection is gaining importance, ICICI Lombard plays a pivotal role. Whether it’s safeguarding health, securing vehicles, or protecting businesses, it delivers peace of mind to millions of Indians every day.
The company offers a wide spectrum of products, including health, motor, travel, home, personal accident, SME, and liability insurance. Known for its tech-enabled claims process, customer service excellence, and product innovation, ICICI Lombard continues to be a front-runner in India’s general insurance industry.
Company Background
Origin and Formation
ICICI Lombard General Insurance was founded in 2001 as a joint venture between ICICI Bank and Fairfax Financial Holdings. The goal was to create a new-age insurer equipped to meet the growing needs of a rapidly changing India.
Timeline of Growth and Evolution
From launching India’s first telematics-based car insurance policy to digitising health claims, ICICI Lombard has consistently pushed boundaries. It was listed on the BSE and NSE in 2017, becoming the first general insurance company in India to do so.
Key Milestones and Highlights
- Launched India’s first AI-based claim settlement service.
- First insurer to introduce ‘cashless everywhere’ for health insurance in 2024.
- Entered into bancassurance partnerships with leading banks and NBFCs.
- Expanded reach to over 500+ branches across India.
Mission and Vision
Mission: To be the most value-creating and admired risk solutions company in India.
Vision: To simplify insurance and be accessible to every Indian.
Why Choose ICICI Lombard General Insurance?
1. Digital-first Approach
ICICI Lombard’s digital tools—like mobile apps, WhatsApp support, AI bots—simplify buying, renewing, and claiming insurance. From instant policy downloads to tracking claim status, everything is at your fingertips.
2. Comprehensive Product Range
From personal insurance needs like health and motor to commercial covers like marine and liability, ICICI Lombard’s offerings cater to individuals, families, and businesses of all sizes.
3. Fast and Hassle-free Claims
The company is known for its quick claim settlement process. Many health and motor claims are resolved within hours. The cashless network is wide and effective.
4. Pan-India Network
With over 500 branches and tie-ups with 14,000+ hospitals and 5,000+ garages, their network supports customers even in semi-urban and rural areas.
5. Customer-Centric Innovations
ICICI Lombard leads in introducing tech-led features such as wearable-based wellness incentives, self-inspection apps for motor claims, and AI-based underwriting.
6. Strong Financial Standing
The company boasts high solvency margins, consistent profitability, and a robust balance sheet—ensuring reliability even in large-scale disasters.
7. ESG and Community Initiatives
From green insurance efforts to road safety campaigns, ICICI Lombard invests in creating a better society alongside delivering value to policyholders.
8. Recognised and Rewarded
The insurer has bagged multiple industry awards for innovation, customer service, and digital excellence—making it a credible and trusted name.
Product Portfolio Overview
Health Insurance
ICICI Lombard offers tailored health insurance plans for individuals, families, and senior citizens. The plans include cashless hospitalisation, preventive healthcare, and wellness rewards.
Popular Plans:
- Complete Health Insurance: Covers hospitalisation, day-care, maternity.
- Arogya Sanjeevani Policy: Affordable, IRDAI-standardised plan.
- Health Booster: Top-up plan with higher sum insured at lower premium.
What is covered:
- In-patient hospitalisation
- Pre and post hospitalisation expenses
- Day-care procedures
- AYUSH treatments
- Annual health check-ups
What is not covered:
- Pre-existing conditions (initial waiting period)
- Cosmetic treatments
- Non-prescribed therapies
- Injuries due to substance abuse
- Dental treatment not related to hospitalisation
Car Insurance
ICICI Lombard’s car insurance provides both comprehensive and third-party liability cover with the benefit of cashless servicing across India.
Popular Plans:
- Comprehensive Car Insurance: Covers third-party and own damage.
- Third-Party Car Insurance: Mandatory cover under Motor Vehicles Act.
- Pay-as-you-use Add-on: Premium based on usage.
What is covered:
- Accidental damage
- Third-party legal liability
- Theft and fire
- Natural disasters
- Personal accident cover
What is not covered:
- Mechanical breakdown
- Driving without valid licence
- Drunk driving damage
- Wear and tear
- Unauthorised use of vehicle
Two-Wheeler Insurance
Provides extensive coverage for scooters and motorcycles, ensuring road safety and peace of mind for two-wheeler owners.
Popular Plans:
- Comprehensive Two-Wheeler Policy
- Third-Party Liability Cover
- Long-Term Package Policy
What is covered:
- Accidental damage
- Theft
- Fire and explosion
- Third-party liability
- Natural calamities
What is not covered:
- Electrical or mechanical failure
- Drunk driving
- Wear and tear
- Usage beyond limitations
- Consequential losses
Personal Accident Insurance
Covers accidental death and disability, making it essential for working professionals, businessmen, and families.
Popular Plans:
- Personal Protect Policy
- Workmen Compensation Insurance
- D&O Liability Cover for Professionals
What is covered:
- Accidental death
- Permanent total disability
- Temporary total disability
- Medical expenses post accident
- Funeral expenses
What is not covered:
- Death due to illness
- Adventure sports injuries
- Suicide or self-harm
- War or civil unrest injuries
- Influence of drugs/alcohol
Home Insurance
Protects your house and contents against fire, burglary, natural disasters, and man-made risks.
Popular Plans:
- Home Structure and Contents Cover
- Tenant Insurance
- Landlord Insurance
What is covered:
- Fire and allied perils
- Burglary and theft
- Earthquake and floods
- Electrical breakdown
- Personal liability
What is not covered?
- Willful damage
- Loss due to wear and tear
- Unoccupied homes for over 30 days
- Loss due to war
- Loss not reported in time
Travel Insurance
Ensures a stress-free trip by covering medical emergencies, baggage loss, and travel delays.
Popular Plans:
- Overseas Travel Insurance
- Student Travel Insurance
- Senior Citizen Travel Plan
What is covered:
- Emergency hospitalisation
- Loss of passport or baggage
- Trip cancellation/delay
- Personal liability
- Emergency evacuation
What is not covered?
- Pre-existing illness
- Travelling against medical advice
- Participating in hazardous sports
- Self-inflicted injuries
- War-related risks
Fire Insurance
Protects residential, commercial, and industrial properties from fire and associated perils.
Popular Plans:
- Standard Fire and Special Perils Policy
- Industrial All-Risk Policy
- Office Package Policy
What is covered:
- Fire and explosion
- Lightning and natural perils
- Riot and strike
- Impact damage
- Leakage from automatic sprinklers
What is not covered?
- Loss due to arson
- War and nuclear risks
- Damage to stock due to spoilage
- Gross negligence
- Property under construction
Marine Insurance
Covers loss or damage to cargo during transit by road, rail, air, or sea.
Popular Plans:
- Inland Transit Policy
- Marine Open Policy
- Specific Voyage Policy
What is covered:
- Loss/damage during transit
- Fire or explosion
- Collision of transport
- Natural disasters in transit
- Theft during transit
What is not covered?
- Delay in delivery
- Poor packaging
- Inherent vice
- War and strikes
- Use of unseaworthy vessels
Liability Insurance
Designed for professionals and businesses to protect against third-party claims.
Popular Plans:
- Directors & Officers (D&O) Liability Insurance
- Product Liability Insurance
- Public Liability Insurance
What is covered:
- Legal costs
- Settlements and damages
- Allegations of negligence
- Defence expenses
- Data breach liabilities
What is not covered?
- Intentional wrongdoing
- Contractual liabilities
- Criminal acts
- Known claims before policy period
- Fines and penalties
SME Insurance
Catered for small and medium businesses, offering bundled solutions to secure assets, employees, and operations.
Popular Plans:
- Business Shield Insurance
- Shopkeepers Insurance
- Office Package Policy
What is covered:
- Fire and burglary
- Business interruption
- Liability to third parties
- Employee compensation
- Electronic equipment damage
What is not covered?
- Illegal business activity
- Loss from cyberattack (unless added)
- Intentional loss
- Gradual wear and tear
- Loss due to poor maintenance
Claims Process
ICICI Lombard ensures an easy, transparent, and quick claim settlement experience.
Steps:
- Inform the insurer through call, app, or website.
- Submit required documents.
- Undergo claim inspection (if applicable).
- Receive approval or query for additional info.
- Claim is processed—cashless or reimbursement.
Renewal Process
You can renew your policy online in just a few clicks without documentation.
Steps:
- Visit ICICI Lombard website or app.
- Enter your policy number or vehicle registration.
- Review your existing details.
- Modify/add coverage or riders.
- Make payment and download renewed policy.
Distribution Network
ICICI Lombard operates through 500+ branches and a strong agent network. Its focus extends to:
- Community Engagement: Through financial literacy workshops and school programs.
- Green Insurance: Paperless policies, carbon offset programs, and electric vehicle coverage.
- Health & Wellness: Offers FitSnap app integration, fitness tracking, and lifestyle-based rewards.
Awards and Recognitions
- Golden Peacock Award for Risk Management
- BFSI Digital Innovation Award
- ISO 9001:2015 Certification for claims
- Recognised among Top 100 Great Places to Work
Final Thoughts:
ICICI Lombard stands tall among India’s general insurers due to its innovation, customer focus, and robust financials. With a wide range of products and unmatched service delivery, it remains a top choice for individuals and businesses alike. Whether you are insuring a car or safeguarding your health, ICICI Lombard offers peace of mind and reliable protection for every step of your journey.
