R ARIVANANTHAM
CHENNAI, SEPT 4
ICICI Lombard, a leading private general insurer in India, on Tuesday announced the launch of its revolutionary health insurance product, ‘Elevate’. Powered with AI the first-of-its-kind health product is loaded with cutting-edge features and add-ons, offering personalised solutions to meet the needs of dynamic lifestyle, unforeseen medical emergencies and medical inflation in Chennai.
Launching the AI-Powered Health Insurance Policy ‘Elevate’ Suchit Tandon, Vice President- Health Agency, ICICI Lombard said, “This significant launch underscores ICICI Lombard’s commitment to pioneering advancements in the insurance industry delivering exceptional value to its customers.”
Say goodbye to limited coverage and embrace ICICI Lombard’s Infinite Sum Insured feature with Elevate, offering unlimited protection.
It’s like experiencing magic. ✨#ICICILombard #NibhayeVaade #HealthInsurance #PoweredByAI #Technology #Elevate #LotLikeMagic pic.twitter.com/SsFcp8sVG9— ICICI Lombard GIC (@ICICILombard) September 3, 2024
- It offers a suite of personalised customer-centric plans that prioritise comprehensive coverage and flexibility
- It comes power packed with 15 in-built covers and multiple personalization options, encompassing covers for; 20 critical illnesses
- With advanced features like ‘Infinite Sum Insured’ ‘Jump Start’ and ‘Power Booster,’ we are setting a new benchmark in the industry, providing our customers peace of mind and security: Priya Deshmukh, Head Health Product, Operations & Services at ICICI Lombard
Designed to cater to the rapidly evolving ecosystem, ‘Elevate’ offers a suite of personalised customer-centric plans that prioritise comprehensive coverage and flexibility. The key features of ‘Elevate’ include:
- Infinite Sum Insured: Addressing the concern of limited coverage and sum insured, this feature ensures that policyholders never run out of coverage.
- Infinite Claim Amount: This add-on offers comprehensive financial protection with infinite claim amount for one-time claim during the lifetime of policy without taking into purview the sum-insured amount.
- Power Booster Add-on: This add-on provides a 100% cumulative bonus annually, irrespective of claims, for an indefinite period.
- Reset Benefit: This feature triggers unlimited resets of your coverage, ensuring continuous protection irrespective of claims.
- Infinite Assurance: This jump-start add-on enables people with pre-existing disease conditions like asthma, diabetes, hypertension, hyperlipidaemia and obesity to start benefitting from the policy after 30th day as against the industry norms of waiting period of 3 years.
Leveraging the power of AI, ‘Elevate’ interprets customer inputs to deliver optimal coverage recommendations, ensuring that each policy is uniquely suited to individuals’ requirements. The bespoke approach to health insurance provides extensive protection while catering to personal health and financial considerations, making it more adaptable and responsive to customers’ needs.
Staying true to its motto – power of infinite personalisation, ‘Elevate’ also comes power packed with 15 in-built covers and multiple personalization options, encompassing covers for; 20 critical illnesses, personal accident, maternity, new born cover, accommodation and travel benefits, preventive care, inflation protector, air ambulance and personalised home care and many more.
Priya Deshmukh, Head Health Product, Operations & Services at ICICI Lombard, said, “Elevate”, represents a new era in health insurance, where innovation and customer focus go hand in hand. By harnessing the power of AI, we have created a product that adapts to the unique needs of each individual, offering a level of personalization and flexibility that is unparalleled. With advanced features like ‘Infinite Sum Insured’ ‘Jump Start’ and ‘Power Booster,’ we are setting a new benchmark in the industry, providing our customers peace of mind and security.”
Throwing light on “Infinite Claim Amount” add-on, Priya Deshmukh said, “This add-on removes the traditional sum insured restriction. If you have an Elevate plan with the “Infinite Claim Amount” add-on, the insurance company will cover the entire cost of your covered medical expenses, regardless of how much it exceeds the base sum insured amount. Let’s say you have an Elevate plan with a base sum insured of Rs 10 lakh and the “Infinite Claim Amount” add-on. Unfortunately, you experience a critical illness requiring hospitalization with a bill of Rs 20 lakh. With Elevate, the “Infinite Claim Amount” feature kicks in. The insurance company will cover the entire bill of Rs 20 lakh, even though it surpasses the base sum insured of Rs 10 lakh. This provides complete financial protection for that specific claim.”
ICICI Lombard is committed to customer-centricity by integrating innovation into every facet of its operations, especially personalized insurance solutions enhanced by cutting-edge technology.
Mr Seshadri, Regional Manager, ICICI Lombard also present at the launch.
