General Insurance company ICICI Lombard launches new range of products

Offers for senior citizens without an age cap

General Insurance company ICICI Lombard has come up with a line-up of 14 new Insurance solutions across Health, Motor and Corporate segments. The offerings are propelled by the recently introduced “Use and File” framework from IRDA and new types of risks emerging in all sectors be it pandemic, climate change or data privacy.

In the health segment, products like Golden Shield focuses on the senior citizens who find it difficult to find health insurance in old age. Golden Shield doesn’t have an age cap in obtaining the policy and covers expenses pertaining to room rent, ICU, doctor fees, anaesthesia, blood, oxygen, OT charges and medicines etc. It also provides services of a healthcare professional assisting the senior individual take care of their health and keep the family members informed. Other products in the health segment include Health AdvantEdge which gives a worldwide international cover and BeFit which offers cashless OPD policy that covers common ailments like cough/cold or minor injuries not requiring hospitalization.

In the motor segment, the Motor floater Insurance allows a single policy with a single renewable date and premium for all motor policies. It also allows a Telematics add-on which converts the base motor product into an ‘Asset cum Usage’ based product wherein the premium charged for insurance would depend partially on the usage. In the Pay-As-You-Use (PAYU) Plan , the premium for the policy is limited only to the extent the vehicle is used or estimated to be used by the customer. Whereas, in the Pay-How-You-Use (PHYU) Plan, a customer with good driving behaviour can avail of attractive discounts over the base premium of the policy.

The corporate segment, while focussed on the Ultra high net-worth individuals, offers products like Club Royale Home Insurance which provides coverage for multiple properties and locations in a single policy all the while covering the family , pet and appointed staff. Voyager Travel Insurance focusses on both domestic and overseas travel up to one year. Drone Insurance caters to drone manufacturers, operators, or logistic companies and offers a comprehensive coverage against theft/loss or damage caused to the drone including the payload.

The company also has the IL take care App which allows the policy holders to speak to doctors for assistance. The app allows the consumer to enter their details which would then be sent to the relevant specialist who would then provide assistance and prescription via WhatsApp.