ICICI Lombard General Insurance Ltd. is an insurance company based in India offering insurance coverage for motor, health, travel, home, student travel, etc. The company has been serving thousands of people all around the country in the past years. Now, as per the latest reports from the officials, they are in the forefront of adopting some latest technology advancements to improve the customer satisfaction. With the latest additions to their tech sector, the company expects to provide a holistic experience to its customers throughout the customer engagement.
The company had early adopted many basic technology advancements and digital tools in areas such as Underwriting & Claims, Operations, Sales & Distribution etc. And moreover, they are the first general insurer to launch an online sales platform which was in 2005. So, there is no questioning in terms of the efforts taken by the company in providing the quality of customer interactions as well as improving their business. The new additions will surely add to it improving the company potential considerably.
Technology Enabled Customer Solutions (B2C)
For any company to reach their customers effectively in an easy manner, it is necessary to integrate the technology with their day-to-day actions. Knowing this, the ICICI Lombard have already seeded the mediators such as a nice website and a user-friendly smartphone app. Users will be effortlessly able to understand every information they need without really being on a call with their support guy. Just visit their website and you will get all the information you needed regarding the insurance services.
The website is completely mobile-friendly enabling the easy smartphone browsing throughout the site. The app has the features like Mobile Self Inspection which lets the customers capture a video of their vehicle and send it for the inspection traveling to their office. This is really a helpful feature as it takes few minutes to renew and review your motor insurance policy.
The app also comes with the Photo Quote feature which enables a customer to share a photo of the motor policy and receive a renewal quote with all insured and vehicle details populated. The policy can be of any company without any restrictions. If the price is ok for the customer, they can directly initiate the payment right from the application.
So, all in all, the company has already stepped into the advanced technical features and integrated them wisely with the business. Anyone can easily reach them, signup for a policy, and claim it whenever suitable.
Solutions for Channel Partners (B2B)/ intermediaries and Networks
In addition to the customers, the ICICI Lombard General Insurance also serves their partners and businesses very well. With various features such as the iPartner which makes it extremely easy to issue a policy as an intermediator, the company favors their partners to the extreme. The iPartner allows channel partners to obtain offline quotes, share quotes through What’s app, email and even directly SMS to their clients. It can Auto-populate customer details from the Aadhaar, Provide customer service facilities, Send payment links to the customers, and can do a lot more.
Another feature is the Risk Assessment app which can capture risk information of low sum insured property risks. Users can take photos using the application and geocode them to identify risk location. The app automatically calculates the risk score and share it with you as well as the ICICI employee in order to start the procedures. The app even doesn’t necessarily need the internet connection as it is coming with the syncing feature.
Mobile printers which are connected to onsite laptops helps a ground personnel to instantaneously issue a policy document in no time. The policies are then synced with their servers for further proceedings.
E-cashless module is yet another functionality which enables hospitals to create cashless requests directly in the claims processing system. As per the company, they are processing around 70% of hospital transactions through the e-cashless module.
In addition, they also automated the claim processing to reduce the workload and increase the productivity alongside serving the customers effectively. Customers can also get assistance by uploading their vehicle video which will be reviewed by the manager. Once it is approved, they will be able to accept the claim. They can check the status of the claim from the application provided by the company.
Value added services
The above-mentioned features are provided by the company for completely free of cost in order to serve their customers and the partners better. In addition to those free services, they also do have a number of value added services.
IL Assist is the major and most crucial VAS provided by the ICICI insurance. It helps the company to offer 24×7 support to the customers, real-time update on vehicle location, customized vehicle alerts, geo- fencing, usage report, etc. It is basically a device which notifies the users about speeding, geo-fence violation, towing and even vehicle health. A very useful and effective function provided by the company to make it extremely easy to protect your vehicles and in case of any accidents, to claim the insurance quickly as possible.
As a part of automating the processes completely, the company is also developing ChatBots to perform various actions. As per the officials, there are 4 ChatBot projects in the implementation. Some are implemented, and few are under development. Even more projects will be added to the list in the near future. We are listing them below.
- Purchase / Renewal of Two Wheeler policy: This is a ChatBot which is already published by the company and started to serve the customers. It automates and enhances the end to end purchase/renewal. This drastically reduced the manual actions improving the easiness in renewing or purchasing the policies.
- Email based quotation for Fire insurance purchase: Another ChatBot which is currently live. It enables the direct communication from agent to the robot to seek quotes on proposed fire risk. It helps in faster quote generation and policy issuance.
- ChatBot on Yammer for Employees: This one is also live which is a tool where in the employees can get their queries resolved on HR policies real time. It can also perform employee life cycle transactions. There is no need for any human to be involved in the process.
- Renewal of Health policy through ChatBot on Facebook: Unfortunately, the development of this ChatBot is not completed yet. It has a similar benefit to two wheeler purchase/renewal ChatBot, but the interactions will be using the Facebook interface. This is an alternate bot for the first one which can be utilized by anyone through Facebook.
So, now we know the ICICI Lombard General Insurance Ltd. is seriously working on adopting technology solutions to enhance the customer experience. If you have any more doubts regarding their service, head to their website and ask hem directly through the live chat available there.