Underscores benefits of reliable and timely claims processing during health exigencies
- Over 50 lakh health claims settled in FY 2009-10
- In-sourced the health claims settlement process as “ICICI Lombard Healthcare” in 2008.
ICICI Lombard General Insurance Company Ltd. the country’s largest private sector General Insurer launched a television campaign to highlight the large number of health claims it settled in 2009-10. The company settled more than 50 Lakh claims last year across customer segments including corporate, retail and rural. The campaign features instances of real life claim experience of ICICI Lombard customers who honour the company as their “hero” for taking care of their families in the hour of need. The campaign emphasizes the customer-centric approach of the company.
The new advertisement features a young man who intently narrates his experience with ICICI Lombard. He begins his story with a line “Yeh hai mere hero ki kahani” and recalls his positive experience with the company during his father’s illness. He honours ICICI Lombard as his “hero” who protected his father and his family and delivered on the promise of ‘Poorey Parivar ki Poori Suraksha’ on time. The second version shows a mother who narrates a similar positive experience of dealing with the company during her daughter’s illness. Both the versions of the advertisement represent true stories and use actors only for illustrative purpose.
Announcing the campaign Mr. Kartik Jain, Head-Marketing & Direct, ICICI Lombard said, “The moment of truth in health insurance is at the time of a claim. Our research into customer needs suggested that our customers are essentially buying into our promise to pay claims at the time of need. With over 50 lakh health claims settled last year this campaign re-emphasizes our commitment to our customers”
ICICI Lombard realised the importance of owning the customer experience at the time of claims and set up “ICICI Lombard Healthcare”, its in-house claims settlement team in 2008. This has helped the company to streamline the process including its relationship with hospitals and effectively manage all claim requests.
The new campaign has been scripted by Ogilvy One and produced by Soda Films.
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Mr. Burzin Mehta, Creative Director, OgilvyOne Worldwide said ”While health insurance is sold on a number of parameters, we figured that the moment of truth for a customer is when the expenses are actually being incurred or when a claim has to be honoured. As a customer, I would like to be re-assured that when a crisis strikes, the settlement of my claim is not something I need to worry about. With over 50 lakh claims honoured last year, ICICI Lombard offers just that kind of assurance. This campaign aims to convey this through a series of ads based on the true-to-life experiences of customers.”
About ICICI Lombard General Insurance Company Ltd.
ICICI Lombard GIC Ltd. is a 74:26 joint venture between ICICI Bank Limited, India’s second largest bank with consolidated total assets of over USD 100 billion at March 31, 2010 and Fairfax Financial Holdings Limited, a Canada based USD 30 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.
ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs. 3,694.7 crore for the year ended March 31, 2010. The company issued over 44 lakh policies and settled over 62 lakh claims and has a claim disposal ratio of 96% (percentage of claims settled against claims reported) as on March 31, 2010. The company has 4,201 employees and 315 branches as on November 30, 2010.
The company has been assigned a domestic rating of ‘iAAA’ by ICRA (an associate of Moody’s Investors Service) for highest claim paying ability and a fundamentally strong position, for the fifth consecutive year. The company has recently received ‘NASSCOM – CNBC TV18 IT User Award 2010’ for Best Technology Implementation in the Insurance Sector. It has been awarded CNBC Awaaz Consumer Award 2010 for being the ‘most preferred brand’ in the General Insurance category. ICICI Lombard Auto Insurance has been rated highest in customer satisfaction by J.D. Power Asia Pacific in India among 11 auto insurance providers. The company has been conferred the Golden Peacock- Eco Innovation Award of 2009 for weather insurance and the Customer and Brand Loyalty award in the ‘Insurance Sector - Non-Life’ at the 3rd Loyalty awards, 2010. It was awarded the ‘General Insurance Company of the Year’ at the 11th Asia Insurance Industry Awards. The company also won the NDTV Profit Business Leadership Award 2007 and was adjudged as the most Customer Responsive Company in the Insurance category at the Economic Times Avaya GlobalConnect Customer Responsiveness Award 2006. It has the Gold Shield for ‘Excellence in Financial Reporting’ by the ICAI (Institute of Chartered Accountants of India) for the year ended March 31, 2006.
ICICI Lombard allows instant policy issuance and renewal through its website www.icicilombard.com for all retail insurance products including Car Insurance, Health Insurance, Travel Insurance, Two Wheeler Insurance and Home Insurance. There are multiple payment options available including internet banking, credit card, debit card and cash card.
For more details about the company, log on to the website www.icicilombard.com