ICICI Lombard
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| Type | Public Listed Company |
|---|---|
| Industry | Insurance |
| Founded | 2001[1] |
| Headquarters | Mumbai, India |
| Key people | Bhargav Dasgupta, MD [2] |
| Products | General insurance |
| Net income |   144 crore (US$31.68 million) |
| Employees | 4634 (as March 2010) |
| Parent | ICICI Bank, Fairfax Financial |
| Website | ICICI Lombard |
ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India[3] with a Gross Written Premium (GWP) over 3,694.80 crore (US$812.86 million)as of March 2010. The company issued over 44 lakh policies and settled over 62 lakh claims and has a claim disposal ratio of 96% of total reported claims. ICICI Lombard GIC Ltd. is a 74:26 joint venture between ICICI Bank Limited, India’s second largest bank and Fairfax Financial Holdings Limited,[4] a Canada based USD 30 billion diversified financial services company.[5] The company has strength of 4,634 employees working in 350 branches across India.[6]
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[edit] Channels
Channel is the term used for the various approaches a company uses to tap its customers. ICICI Lombard uses a multi channel approach to sales, service and other allied activities.
The channels used by ICICI Lombard can be broadly stated as under:
[edit] Online
ICICI Lombard has developed a web-based system to meet all the pre and post-policy transaction . One can get quotes, buy, renew and track their policies online through the website.
[edit] Buying Insurance Online
ICICI Lombard was among the first companies to make their insurance products available online in India.[7] ICICI Lombard has web-based systems to meet all pre and post-policy transactional needs of its customers. One can compare plans, get quotes, buy, renew and keep a track of their insurance policies online.
ICICI Lombard offers its customers retail general insurance products online. These products are Car Insurance, Two Wheeler, Health Insurance[8], Travel Insurance, Student Travel, Personal Accident and Home Insurance.
[edit] Telecalling
ICICI Lombard was the first general insurance company in India to start telesales operations due to its inherent profitability. However in recent times, public outburst against pushy and intrusive telecalling in general has led to a reduction in cold calling and the introduction of 'do-not-call' (opt-out) lists similar to the US 'Do Not Call Registry'. ICICI Lombard too has the Do Not Call option and respects the privacy of their customers.[citation needed]
[edit] External links
- Mutual Fund Expert ICICI Lombard General Insurance Advisor Website
- PolicyDeal.IN ICICI Lombard General Insurance Advisor Website
[edit] References
- ^ "ICICI Lombard General Insurance | Agriculture and Industry Survey". Agricultureinformation.com. http://www.agricultureinformation.com/mag/?p=5402. Retrieved 2010-07-16.
- ^ "Health insurance to drive growth: ICICI Lombard-Economy-Sunday ET-Features-The Economic Times". Economictimes.indiatimes.com. 2009-07-05. http://economictimes.indiatimes.com/Features/The-Sunday-ET/Economy/Health-insurance-to-drive-growth-ICICI-Lombard/articleshow/4739103.cms. Retrieved 2010-07-16.
- ^ "PSU insurers' market share drops to 73%". The Hindu Business Line. 2006-05-11. http://www.thehindubusinessline.com/2006/05/11/stories/2006051103650600.htm. Retrieved 2010-07-16.
- ^ "ICICI Lombard Company Profile". Insuremagic.com. http://www.insuremagic.com/Content/PlanInfo/icicilombard_companyprofile.asp. Retrieved 2010-07-16.
- ^ "'Nirmaya' to enlarge: ICICI Lombard". Rupee Times. http://www.rupeetimes.com/news/home_loans/nirmaya_to_enlarge_icici_lombard_1629.html. Retrieved 2010-07-16.
- ^ "ICICI Lombard General Insurance delivers strong growth in profits". Indiaprwire.com. http://www.indiaprwire.com/pressrelease/insurance/2010051050220.htm. Retrieved 2010-07-16.
- ^ "ICICI Lombard India’s No. 1 private general insurance company - Health Insurance, Travel Insurance, Home Insurance, Motor Insurance". Icicilombard.com. http://www.icicilombard.com/app/ilom-en/Interviews.aspx?rssID=67858. Retrieved 2010-07-16.
- ^ "Health Insurance - ICICI Lombard Official Website". Official Website One Sample Product Tag To give authority insight. https://www.icicilombard.com/health-insurance/family-floater.cms.
