- About Coverfox
ICICI Lombard General Insurance Company Ltd. is one of the leading general insurance companies operating in India. It is one of the top private sector general insurance companies formed through a joint venture through a joint venture between ICICI Bank Limited and Fairfax Financial Holdings Limited based out of Canada. It offers insurance coverage for car, bike, health, travel, home, student travel, and more.
For the year ending March 31, 2020, it has a Gross Written Premium (GWP) of Rs. 135.92 billion. The company has also issued over 26.2 million policies and settled over 1.86 million claims as on March 31, 2020.
For F.Y. 2020, ICICI Lombard General Insurance has settled 99.9% health insurance claims and 93.2% motor insurance claims within 30 days of claim filing. Customers can avail cashless health claims from 6500+ network hospitals and 8800 partner garages.
ICICI Lombard has been assigned an iAAA rating by ICRA (an Associate of Moody's Investors Service). This rating indicates ICICI Lombard General Insurance Company Limited's highest claims-paying ability.
The company aims to be the most value creating and admired risk solutions company in India with a global footprint. Following are some of the awards bagged by ICICI Lombard General Insurance.
ICICI Lombard has secured a good reputation, especially when it comes to the claim settlement. The company has a claim ratio of 99.87% and 93.14% for health insurance and motor insurance (own damage), respectively within 30 days of claim filing for FY 2019.
The online policy renewal process
Follow the below mentioned steps to renew the policy under ICICI Lombard General Insurance:
The offline policy renewal process
You may visit the nearest ICICI Lombard branch office to renew your policy. Fill up the renewal form and make premium payment before the expiry of the policy grace period.
Follow the below-mentioned steps to file a claim with ICICI Lombard General Insurance policy:
Call: 1800 2666 (toll-free number)
Alternative number: 8655 222 666 (chargeable)
For crop insurance: 1800 266 9725
Address: ICICI Lombard General insurance company Limited, 401 – 402, Interface building no. 11, Link Road, Malad (West), Mumbai - 400064
What is the list of documents required to buy ICICI Lombard General Insurance Plans?
The documents required for buying ICICI Lombard general insurance plans depends on the plan chosen, however the general documents required are Filled Application Form, Age Proof, Identity Proof, Address proof, Recent Passport size photographs.
Does the company offer corporate insurance plans?
Yes, ICICI Lombard offers a range of corporate insurance plans to cover different risks faced by corporates and industries.
What is the tenure of general insurance policies?
Typically, general insurance policies are for one year. However, there are plans which provide a higher duration, one must carefully go through the sales literature to know more about the same.
Is there any facility to receive policy related updates on WhatsApp?
Yes, the company does provide this facility. You can opt to receive WhatsApp notifications at the time of opting for a policy. You can also opt for this service later by visiting the nearest branch or by calling the customer care department.
What is the claim settlement ratio of ICICI Lombard?
ICICI Lombard General Insurance has a good reputation when it comes to the claim settlement process and the ratio. It has a claim settlement ratio of 99.87% for health insurance and 93.14% in the case of motor insurance (own damage), respectively within 30 days of claim filing for FY 2019.
Does ICICI Lombard have a mobile application?
Yes. The company has a mobile app, which is called ICICI Lombard APP that can be installed from Google Play or App Store.
Does ICICI Lombard have customised business plans?
Yes, ICICI Lombard offers the following customised business plans. Office package policy Electronic equipment insurance policy Event insurance Shopkeepers insurance Project insurance Contractors all risk policy Burglary insurance
What should I do if my insurance policy expires?
You need to pay the renewal premium before the due date of your policy. If you fail to make the next premium payment, the policy will expire. However, the company offers a grace period of 30 days from the expiry date of the policy within which you can renew the plan.
What does lifelong renewability mean?
Lifelong renewability is a facility given to the policyholder to enjoy the lifelong protection of the insurance policy without any restrictions or age bar. Lifelong renewability helps the policyholder not only to meet sudden expenses, but also to enjoy protection for their entire life time.
How can I find the nearest ICICI Lombard branches?
It is quick and easy to find ICICI Lombard branch office with the branch locator service of the company. Visit www.icicilombard.com/branches and select the state and city in which you reside to find the nearest branch.
Is it possible to track policy claim under ICICI Lombard?
Yes. You can track your claim under “Self Help” section on the official website of ICICI Lombard.
What are the types of vehicle that I can insure under motor insurance plan?
Currently, the company allows you to insure private car and two-wheeler under vehicle insurance.
What is No Claim Bonus?
No Claim Bonus (NCB) is a discount on the premium of the own damage portion of your vehicle when you renew your motor insurance, provided you have not made any claim during the last policy tenure. The No Claim Bonus can be accumulated up to 50% of the own damage premium.
You can transfer the full benefits of No Claim Bonus, even if you shift your motor insurance plan to ICICI Lombard from any other insurance provider.