ICICI Lombard General Insurance Company Ltd. is one of India’s leading private non‑life insurance companies. Founded in 2001, the company provides a wide array of general insurance products—covering risks associated with health, motor vehicles, homes, travel, crop, marine, fire, liability, engineering, and more. Its motto or brand philosophy is “Nibhaaye Vaade” (which means “We Keep Our Promises”), emphasizing a commitment to reliability and fulfilling customer claims.

Key Features & Strengths

• Size and Reach: As of March 31, 2025, ICICI Lombard has issued over 37.6 million policies, processed upwards of 3.2 million claims, and operates from 328 branches across India.
• Financials: Gross Written Premiums (GWP) are around ₹282.58 billion for FY 2024‑25.
• Product Diversity: It offers both retail and corporate insurance solutions. For individuals there are motor insurance, health plans, travel insurance, home insurance, etc. For businesses or institutions, they offer liability insurance, engineering cover, fire insurance, marine insurance, group health, etc.
• Technology & Innovation: ICICI Lombard has shifted core systems to the cloud, has made strong digital offerings (e.g., mobile apps), and uses AI & data analytics to streamline processes like claim approvals and customer service.

Challenges & Considerations

• Claim Settlement vs Claims Frequency: As with all insurers, the ratio of premiums collected to amounts paid out in claims plus operational costs (combined ratio) is a key metric. There have been periods where claims have grown strongly, affecting profitability.
• Premium Increases & Policy Changes: Some customers have expressed concerns about rising premiums, especially during renewals. Claims about older policy plans being withdrawn or changed are also reported.
• Customer Service Feedback: There are mixed reviews regarding the speed and clarity of responses in claim settlement, as well as transparency in some policy terms among long‑term customers.

Conclusion

ICICI Lombard is a major player in India’s general insurance sector. Its strengths lie in its wide product range, large footprint, and adoption of technology. For someone considering purchasing a policy from them, it’s wise to:

1. Compare policy features, premiums, and exclusions carefully.
2. Review the renewal history and see how premiums have changed over time.
3. Check the claim settlement track record for the type of insurance you want.

If you like, I can send you a comparison of ICICI Lombard’s popular plans versus other companies, so you can see if you’re getting good value.