ICICI Lombard creates DIY solution for customers to transform customer experience

In an intensely competitive market, every market player in insurance has been trying to boost customer satisfaction using digital initiatives. ICICI Lombard, one of the biggest players in this market, has been trying to keep pace with the evolving market and consumer dynamics by embracing and embedding innovation that revolves around the customers and their needs.

Saya Anirvan Saha, VP-Technology, ICICI Lombard, “With the emergence of a hyper-connected world, we are able to fulfill customer expectations of positive and seamless experience at every touch point. Keeping this at the core, ICICI Lombard has introduced Do-It-Yourself (DIY) claim management solutions for customers and network partners at various stages of the policy booking and claim process with the aim of reducing turn-around times, eliminating non-value adding activities, improving efficiency with enhanced control on quality parameters leading to increased customer satisfaction.”

The firm has introduced a mobile application solution allowing customers to upload photos of their vehicles in case of a break in policy using mobile technology. This helps ICICI Lombard understand the pre-existing damages, while an Artificial Intelligence (AI) solution determines any damages to the vehicle. This helps the customer get instant approval of the policy.

Another mobile solution allows network partners and customers to intimate a claim and get the inspection of the vehicle done instantly by connecting with an ICICI Lombard claim manager over a live video stream. This helps in getting immediate approval for the claim. Another garage claim mobile application empowers garages to intimate motor claims.

ICICI Lombard has also developed the FNOL (First Notification of Loss) Mobile App, which helps garages to initiate motor claims. It is equipped with a user-friendly UI with voice recording capability for claim description and automatic policy details uploading and intimation to the customer service manager.

Today, over 90% of the claim intimation from the 7000+ network garages is happening through the mobile app. Over 30% of all two-wheeler claims are being conducted over live video streaming through virtual survey solution. A live video inspection feature for customers has helped in faster claim approvals. Over thousand break-in surveys are being conducted on a monthly basis. Underwriters approve break-in cases over uploaded videos and claims managers based in branch locations conduct surveys over live video streaming. All these initiatives have led to a reduction of call volumes at the call center.

Additionally, the claims manager has access to several data points from different systems while evaluating the loss, allowing him to take an informed decision when approving the claim. This has led to better control on frequency and loss ratios at a portfolio level. Productivity has also gone up, as virtual customer service executives can today service a significantly higher number of claims.