ICICI Lombard General Insurance Company Limited is the largest private-sector non-life insurer in India based on gross direct premium income in fiscal 2018. The company offers a comprehensive and well-diversified range of products including motor insurance health insurance personal accident insurance crop insurance fire insurance marine insurance and engineering and liability insurance through multiple distribution channels. The key distribution channels of the company include direct sales individual agents bank partners other corporate agents brokers and online through which the company service its individual corporate and government customers.The company was established as a joint venture between ICICI Bank - India's largest private sector bank in terms of consolidated total assets at Rs 9.9 trillion end March 2017 and Fairfax Financial Holdings - Canadian based holding company which through its subsidiaries is engaged in property and casualty insurance and reinsurance and investment management with US$ 43.38 billion of total assets end December 2016.The Company was incorporated on October 30 2000 as ICICI Lombard General Insurance Company Limited a public limited company. The Company obtained the certificate of commencement of business on January 11 2001 from the Registrar of Companies Mumbai. It is registered with IRDAI for carrying out the Class of Business pursuant to the registration certificate dated August 3 2001. At that time ICICI Bank and Lombard Canada Ltd. (a nominee of Fairfax) held 74% and 26% of the company's then issued and paid-up capital respectively. On July 6 2017 FAL Corporation (Affiliate of Fairfax Financial Holdings Limited) transferred 48101387 Equity Shares constituting 10.60% of the Company's issued and paid-up capital to certain private equity/financial investors. On July 7 2017 FAL transferred 7211596 Equity Shares constituting 1.59% of the Company's issued and paid-up capital to a financial investor. Thereafter ICICI Bank and FAL held 285605284 Equity Shares and 99464479 Equity Shares constituting 62.92% and 21.91% the company's issued and paid-up capital respectively. ICICI Lombard General Insurance Company started operations during the year 2000-2001. During the year 2003-04 it became the largest private sector general insurer in India. During the year 2005-06 the company crossed the mark of 1 million policies and crossed the receipt of Rs 1000 crore of Gross Direct Premium Income (GDPI). In 2009-10 the company settled more than 5 million claims. During the year 2013-14 the company's profit after tax crossed Rs 500 crore mark and the number of policies issued by the company crossed 10 million. During the year 2014-15 the company's investment book size crossed Rs 10000 crore mark. During the year 2015-16 the company became the first general insurance company in India to issue subordinated debt. During the year 2016-17 ICICI Lombard General Insurance Company crossed Rs 10000 crore GDPI mark. In September 2017 ICICI Lombard General Insurance Company Limited came out with an initial public offer wherein ICICI Bank and FAL proposed to sell 31761478 Equity Shares and 54485709 Equity Shares constituting 7.00% and 12.00% of the Company's issued and paid-up capital to the public respectively. There was no fresh issue of shares from ICICI Lombard General Insurance Company. The shares of ICICI Lombard General Insurance c were listed on the bourses on 27 September 2017 and it became the first pure play general insurance company in India to list on the stock exchanges. On 5 April 2018 Ola India's leading and one of the world's largest ride-sharing companies announced the launch of a comprehensive intrip insurance program for its customers across India in partnership with Acko General Insurance Ltd and ICICI Lombard General Insurance Company. The first-of-its-kind program is being rolled out for customers in major metros and will be scaled up to all cities covering the entire base in the coming weeks. The comprehensive insurance program provides benefits in cases of loss of baggage or laptops missed flights accidental medical expense ambulance transportation cover and much more. The optional intrip insurance program can be purchased through the Ola app. The claims can be made through the Ola app as well as the provider's website mobile app and call center.On 2 May 2018 ICICI Lombard General Insurance Company announced that it has become the 1st company in India to be certified by the British Standard Institution (BSI) for compliance with the revised ISO 31000:2018 Enterprise Risk Management (ERM) Guidelines released in February 2018. ICICI Lombard has been awarded Certificate of Compliance for a period of 3 years from 16 April 2018 to 15 April 2021 on successful completion of the ISO 31000:2018 compliance process for its ERM systems. On 20 August 2018 ICICI Lombard General Insurance Company announced that it has launched India's first Artificial intelligence (AI) based technology to facilitate instant health insurance claims approval. As a result the traditional cashless claim request which takes an average of 60 minutes of processing has been drastically brought down to a minute using AI.On 23 August 2018 ICICI Lombard General Insurance Company announced that it has implemented host of initiatives to support the customers affected by Kerala floods. The company has written premium of Rs. 85.98 crs (primarily motor property & health insurance) during FY 2017-18 which comprises 0.7% of gross direct premium income (GDPI) during FY 2017-18 (1.57% of the GDPI for all non-life insurance companies from Kerala State) and Rs. 19.24 crs during Q1 FY 2018-19 which comprises 0.51% of gross direct premium income (GDPI). As of now the number of claims received are limited considering that the flood waters are yet to recede in the State of Kerala. The company has put in place a well-defined retention limit for each product segment which defines its maximum per risk and per event exposure to protect its balance sheet and reduce volatility of its earnings.On 17 September 2018 ICICI Lombard General Insurance Company announced the launch of the industry's first application to facilitate speedier claim verification process. Currently claim settlement cases that need to be verified takes from a day to more than a week in some cases. This time intensive process will be reduced drastically to a few hours with the app. The state of the art technology deployed in the app will also benefit the company as it will be able to identify incidents of fraud claim quickly making the process more efficient and ensuring that genuine cases are resolved in a speedy manner. Further the solution will integrate with the company's health claims management system that has inbuilt alerts to trigger suspect claims for verification.