Company: ICICI Lombard General Insurance Company Limited
Company Description: ICICI Lombard is the leading private general insurance company in India. 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.
Nomination Category: Customer Service & Call Center Awards Achievement Categories
Nomination Sub Category: Best Use of Technology in Customer Service - Financial Services Industries
 Nomination Title: Revolutionizing Customer Experience through Cutting-Edge Digital Solutions
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the nominated achievement since July 1, 2021, OR written answers to the questions? (Choose one):
A video of up to five (5) minutes
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.
ICICI Lombard's Digital Initiatives: customersupport-icicilombard.kpoint.com/web/videos/gcc-c9ae1945-a200-44b6-a55c-1e28eaf91a58/play?id=icicilombard
- Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 197 words used.
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 'Nibhaye Vaade. The company has issued over 32.7 million policies, settled 3.6 million claims and has a Gross Written Premium 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 4.6 million downloads. The company has won several laurels including ET Corporate Excellence Awards, Golden Peacock Awards, FICCI Insurance Awards, National CSR awards etc. for its various initiatives.
- Outline the nominated achievement since July 1 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 247 words used.
In today's digital era, the demand for seamless interactions from tech-savvy customers has intensified. We’re dedicated to crafting an ecosystem ensuring smooth customer journeys at every touchpoint. Through a blend of technology and service excellence, we've introduced innovative solutions tailored to enhance engagement and streamline processes, bolstering customer satisfaction while fortifying our business sustainability and risk management capabilities.
Our digital initiatives include AI-Based Claim Processing, revolutionizing claim processing speed with real-time approval of motor claims through features like InstaSpect, slashing approval times from 60 to just 15 minutes, crucial for emergencies.
RIA (Responsive Intelligent Assistant), our human avatar and face of our customer communication, operates seamlessly on WhatsApp and our website, handling around 100,000 monthly transactions and boasting impressive customer satisfaction scores.
Our Voicebot, equipped with speech recognition capabilities, comprehends lengthy narratives and continuously improves accuracy to handle high volumes in multiple languages. Visual IVR has notably reduced monthly contacts and facilitated outbound calls, contributing to exceptional customer satisfaction scores.
The IL TakeCare App offers real-time motor claim approvals and health monitoring through features like 'Face Scan,' receiving overwhelmingly positive responses. With a comprehensive list of features including Face Scan, Mental Wellbeing, IL Hello Doctor, Health records, vehicle inspection, and more.
Interactive videos provide engaging customer experiences and facilitate guided videos on health and motor claim status and processes, vehicle self-inspections, and more.
These technology-driven solutions underscore our commitment to customer-centric excellence, setting new benchmarks for enhanced experiences and service efficiency in the digital age.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
- Explain why the achievement you have highlighted is unique or significant. If possible compare the achievement to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 222 words used.
The highlighted achievement, encompassing RIA as Voicebot, Visual IVR, and Chatbot, the IL TakeCare App, and Interactive videos, has been remarkable for its transformative influence on customer interactions and service efficiency within the insurance sector.
The introduction of RIA has revolutionized customer support, managing 100,000 monthly transactions with a remarkable 91% satisfaction score on our website and 71% on WhatsApp, surpassing industry norms.
Similarly, our Voicebot's impressive 89% accuracy showcases its effectiveness in understanding customer queries, while our Visual IVR's efficiency in reducing monthly customer contacts by 20,000 and facilitating over 30,000 outbound calls reflects its unparalleled effectiveness in enhancing customer engagement and satisfaction, surpassing industry benchmarks once more.
Our IL TakeCare App serves as a comprehensive policy management tool, offering purchase, claim intimation, renewal, and mobile self-inspection for motor claims specifically—all with over 84,85,026 downloads* and 8,96,914+ app registrations as of December 2023, placing insurance solutions directly at our customers' fingertips.
Moreover, our Interactive videos, accumulating over 1,050,000 minutes of watch time and guiding thousands of claim intimations and vehicle self-inspections, underscore our commitment to innovative customer service experiences, setting a new benchmark for customer-centric excellence in the digital realm.
These achievements reflect our dedication to delivering measurable advantages to our customers, exceeding industry standards, and elevating service efficiency to unprecedented levels.
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