by Suman Gupta
- Keeping up with the times; ICICI Lombard launches MaxProtect, high-value cover at an affordable price
Mumbai, 05 December, 2023: ICICI Lombard, India’s leading private non-life insurance company, launched its newest addition to the bouquet of customer-centric products, MaxProtect. A product specifically curated keeping in mind the ever-evolving lifestyle of our customers, MaxProtect is positioned to offer high-value coverage at an extremely affordable price, providing an inflation-adjusted solution to meet the healthcare needs of individuals and families.
MaxProtect provides a choice between two customer-focused insurance plans, MaxProtect Classic plan offers comprehensive coverage and ensures that you have ample financial protection for various scenarios. It provides coverage for various medical services, including advanced treatments, donor expenses, hospital stays (excluding suites), unlimited sum insured reset benefit, domiciliary hospitalization, and unlimited teleconsultation. On the other hand, the MaxProtect Premium plan stands out with its rich set of features, including global coverage, access to air ambulance services, and a distinctive claim protector feature. MaxProtect goes beyond standard coverage to provide a comprehensive and advanced level of protection. Coverage ranges from 1 Crore to an impressive 10 Crores, with an unlimited option available. Annual premiums start at just Rs. 9,367 for 1 Crore under floater policy for 2 adults, equivalent to approximately Rs. 26 per day, making it accessible to a broad range of customers. Notably, MaxProtect preserves the accrued no-claim bonus, which remains with the customer even in case of future claims, ensuring ongoing peace of mind throughout the insurance term.
Shaped by extensive consumer insights garnered through Consumer Research conducted by ICICI Lombard, MaxProtect seamlessly adapts to changing health insurance preferences. Fueled by surging medical costs, early-onset lifestyle ailments, and individual experiences, customers demand amplified coverage. Formerly content with 10-20 lakh amounted policies, they now seek 50 lakh or more. Indian health insurance buyers prioritize value, anchoring choices in meticulous price-benefit analysis.
In this context, Indian health insurance buyers now prioritize value-focused decisions, making thorough cost-benefit assessment a central part of their choices. Keeping that in mind, MaxProtect provides a comprehensive coverage with its extensive network of affiliated hospitals. Here, ICICI Lombard’s pioneering Anywhere Cashless feature truly shines as an exceptional addition. Policyholders can seamlessly access cashless hospitalization at any medical facility across India. They can raise the request via the IL Take Care app 24 hours prior to hospitalization, and enjoy benefits of the same.
Mr. Girish Nayak, Chief – Technology, Health UW & Claims, ICICI Lombard, said, “We have always been at the forefront of providing our customers with simple and technologically enabled risk solutions to their specific needs. MaxProtect embodies our dedication to providing holistic health insurance solutions that effortlessly align with the ever-changing requirements of our customers. With its health coverage ranging from ₹ 1 crore to ₹ 10 crore at budget-friendly premiums from as low as ₹ 26/day and ground-breaking innovations such as Anywhere Cashless, MaxProtect envelops you in a unique cocoon of reassurance, ensuring unwavering support in times of medical need.”
ICICI Lombard is a company that places customer-centricity at the heart of its operations and this enables the company to drive innovation in order to provide suitable insurance solutions to its customers. ICICI Lombard offers a variety of insurance solutions bundled with technology. In the past, the company has launched several innovative products that have revolutionized the insurance industry in India. For instance, the company introduced the Health Advisor feature, which is an AI-powered chatbot that provides personalized health advice to customers. The company has also launched a Motor OD policy that uses telematics technology to track driving behaviour and reward safe driving habits. ICICI Lombard’s focus on customer-centricity is evident in its 24×7 customer support, easy-to-use mobile app, and simplified claims process.
#ICICILombard #GirishNayak #NibhaayeVaade #ILTakeCare #AnywhereCashless #MaxProtect
About ICICI Lombard General Insurance Company Ltd. : ICICI Lombard is the leading private general insurance company in the country. The Company 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 of over 21 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaaye Vaade’. The company has issued over 32.7 million policies, settled 3.6 million claims and has a Gross Written Premium (GWP) of ₹217.72 billion for the year ended March 31, 2023. ICICI Lombard has 305 branches and 12,865 employees, as on March 31, 2023.
ICICI Lombard has been a pioneer in the industry and is the first large scale insurance company in India to migrate its entire core systems to cloud. With a strong focus on being digital led and agile, it has launched a plethora of tech-driven innovations, including the industry first Face Scan on its signature insurance and wellness App – IL TakeCare, with over 6.9 million user downloads. The company has won several laurels including ET Corporate Excellence Awards, Golden Peacock Awards, FICCI Insurance Awards, National CSR awards etc.
