- ‘Elevate’ empowers customers with personalised plans
- This health plan promises extensive coverage and flexibility, with a particular focus on addressing concerns about limited sum insured amounts
- ‘Elevate’ also comes power packed with 15 in-built covers and multiple personalization options, encompassing covers for; 20 critical illnesses –
NE BUSINESS BUREAU
AHMEDABAD, AUGUST 9
ICICI Lombard, a leading private general insurer in India, on Friday 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. This health plan promises extensive coverage and flexibility, with a particular focus on addressing concerns about limited sum insured amounts.
This significant launch underscores ICICI Lombard’s commitment to pioneering advancements in the insurance industry delivering exceptional value to its customers.
One of the key features of Elevate is the “Infinite Claim Amount” add-on. This provides policyholders with comprehensive financial protection, eliminating worries about exceeding the sum insured limit in a single claim situation.
Anand Singhi, Chief of Retail and Government at ICICI Lombard, stated, “‘Elevate’ embodies our steadfast dedication to pioneering innovation and customer-centricity. As a ground-breaking industry first, powered by an AI-Engine ‘Elevate’ will redefine health insurance, ensuring a deeply personalised experience tailored to customers’ unique needs. With add-ons such as ‘Infinite Care’ and ‘Power Booster,’ we have set a new standard in the health insurance, empowering our customers with unparalleled peace of mind in an increasingly dynamic world.”
Throwing light on “Infinite Claim Amount” add-on, Singhi 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.”
Customer-Centric Plans
- 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 for pre-existing diseases: 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.
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.