An Industry First Health Insurance Product
FinTech BizNews Service
Mumbai, July 01, 2024: ICICI Lombard, a leading private general insurer, announces 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 significant launch underscores ICICI Lombard’s commitment to
pioneering advancements in the insurance industry delivering exceptional value to its
customers.
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 30 th 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.
Mr. 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."
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.
