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ICICI Lombard Launches 'International Travel Insurance'

MUMBAI, November 27, 2012 /PRNewswire/ --

A Comprehensive Travel Insurance Product

  • The only international travel insurance policy providing coverage up to 85 years of age without any medical check-up
  • Pre-existing diseases covered under medical emergencies
  • First Insurer to offer assistance services for dependents in India: medical concierge services, automotive assistance services, lifestyle services

ICICI Lombard General Insurance Company Ltd., the country's largest private sector general insurance company, has launched a new travel insurance product "International Travel Insurance". Keeping in mind the unique needs of customers, the policy provides overseas medical insurance along with coverage for all trip related risks. A one-stop-solution, it caters to the needs of not only international travellers but also the insured's family back home.

ICICI Lombard's new "International Travel Insurance" policy provides coverage on a host of listed medical and non-medical expenses that the policy holder may incur while travelling abroad. The company's tie-up with the leading US based healthcare provider, United Health Care (UHC) helps take care of the insured's bill settlement directly while enabling the insured to avail cashless hospitalisation across a wide network of hospitals.

ICICI Lombard is the first insurer to provide insurance to traveller's up to 85 years of age without any medical check-up. Another unique feature is that this is the only travel insurance policy which provides value added assistance services for the insured's dependents in India. These include services pertaining to medical concierge, automotive assistance and lifestyle related amongst others offering additional convenience. Catering to the needs of frequent travellers, the policy also provides option of a multi-trip policy. One can purchase the policy online at www.icicilombard.com apart from the traditional offline route.

Speaking at the launch of the new product, Mr. Sanjay Datta, Chief - Underwriting & Claims, ICICI Lombard GIC Ltd. said, "International travel insurance has gained prominence in India given the increasing trend of travel abroad for business as well as leisure. Today, travel insurance is not restricted to trip related coverage but caters to a host of other benefits as well. In line with our customer centric approach, the new "International Travel Insurance" product is a comprehensive solution for trip related coverage along with medical and other value added benefits."

Summary of Product Features:

  • No medical check-up required: The insured is not required to undergo any medical check-up up to the age of 85 years
  • Pre-existing diseases: Pre-existing diseases are covered in emergency and life-threatening situations
  • Value added services: The insured's dependents back home enjoy a bundle of concierge services like - medical concierge, automotive assistance, lifestyle services like gifts or flower delivery assistance, home movers assistance, plumbing or electrical assistance etc.
  • Cover for hand baggage (in addition to check-in baggage)
  • Hassle-free stay: In case of trip extension or flight delay, the policy will ensure covering expenses for accommodation
  • Others benefits include cover pertaining to Political Risk and Catastrophic Evacuation, Emergency Financial Assistance, Compassionate Visit, Personal Accident, Personal Liability cover, Home Insurance cover, etc.

About ICICI Lombard General Insurance Company Ltd.:

ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India's second largest bank with consolidated total assets of over USD  91  billion at March 31, 2012 and Fairfax Financial Holdings Limited, a Canada based USD 30 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management. 

ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 5,358 crore for the year ended March 31, 2012. The company issued over 76 lakh policies and settled over 44 laky claims and has a claim disposal ratio of 99% (percentage of claims settled against claims reported) as on March 31, 2012.

The company has been conferred the "Golden Peacock Award 2012" for Corporate Social Responsibility, "Golden Peacock Innovation Award-2010" for Rashtriya Swasthya Bima Yojana. It also received the "Skoch Financial Inclusion Award-2011" in the micro finance category. The company has been conferred with 'NASSCOM - CNBC TV18 IT User Award 2010' for Best Technology Implementation in the Insurance Sector. It has been awarded CNBC Awaaz Consumer Award 2010 for being the 'most preferred brand' in the General Insurance category. ICICI Lombard Auto Insurance has been rated highest in customer satisfaction by J.D. Power Asia Pacific in India among 11 auto insurance providers. It was awarded Customer and Brand Loyalty award in the 'Insurance Sector - Non-Life' at the 3rd Loyalty awards, 2010 and the 'General Insurance Company of the Year' at the 11th Asia Insurance Industry Awards.

ICICI Lombard allows instant policy issuance and renewal through its website www.icicilombard.com for all retail insurance products including Car Insurance, Travel Insurance, Two Wheeler Insurance, Home Insurance and Health Insurance India. There are multiple payment options available including internet banking, credit card, debit card and cash card.

For more details about the company, log on to the website www.icicilombard.com.

Primary Media Contact: Sulakshna Mukherjee, sulakshna.mukherjee@icicilombard.com, 91-22-61961451

Secondary Media Contact: Suheil Merchant, suheil.merchant@icicilombard.com, 91-22-61961452

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