ICICI Lombard Scores Highest in Customer Satisfaction - Reveals Consumer Survey Commissioned by Ministry of Consumer Affairs

NEW DELHI, August 29, 2013 /PRNewswire/ --

• ICICI Lombard Rated
  • Highest in Terms of Overall Customer Satisfaction With score of 8.61 out of 13 General Insurance/Stand Alone Health Insurance Companies
  • Most Recommended Company With 87.7% Respondents Planning to Recommend the Insurer to Their Friends and Relatives
  • Rated the Best in Terms of Overall Satisfaction With an Insurance Firm in Settling Claims With Score of 8.33
• Survey Commissioned Across 8 Cities by Dept. of Consumer Affairs, Ministry of Consumer Affairs, Govt. of India
• Research Conducted by Consumer Voice Society (Under Jago Grahak Jago Campaign) Across 3312 Customers who had Claimed of 13 General Insurance and Standalone Health Insurance Companies 

ICICI Lombard has received the top ratings out of 13 general insurance/stand alone health insurance firms in a consumer survey commissioned by Dept. of Consumer Affairs, Ministry of Consumer Affairs, Govt. of India. The findings of the survey were unveiled at an event in New Delhi, presided by Mr. D D Singh, Member - Consumer Affairs, IRDA. The survey was conducted with the objective of assessing consumer satisfaction and quality of health insurance services in India. It covered 3312 respondents across 8 cities which included the 4 metros, Bangalore, Ahmedabad, Lucknow and Hyderabad. The findings gain relevance since the responses are based on actual claim experience of the respondents who had utilized health insurance policies of different insurers.

In another testimony to the company's claim settlement processes, ICICI Lombard was also the most recommended company with 87.7% respondents planning to recommend the insurer to their friends and relatives. It was also rated the best in terms of overall satisfaction with an insurance firm in settling claims with a score of 8.33.

Speaking at the occasion, Mr. Bhargav Dasgupta, MD & CEO, ICICI Lombard, said, "We are honored to have been rated the highest in customer satisfaction. This is a testimony to our claim processing capabilities and customer centric approach. It motivates us to raise our customer service benchmark to even higher levels."

The research was conducted by Consumer Voice society under the Jago Grahak Jago campaign. Commenting on the research, Mr. Ashim Sanyal, COO, Consumer Voice said, "Consumer Voice is a Not for Profit organization supported by Ministry of Consumer Affairs. It endeavors to seek genuine customer response thereby helping retail consumers at large to benefit from an unbiased feedback on various products and services. We congratulate ICICI Lombard for having received the top ratings for overall Customer satisfaction and also being the most recommended company in the Health Insurance category."

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 total assets of over USD 99 billion at March 31, 2013 and Fairfax Financial Holdings Limited, a Canada based USD 37 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 64.20 billion for the year ended March 31, 2013. The company issued over 9.18 million policies and settled over 5.07 million claims as on March 31, 2013.

The company has been conferred the "ASTD BEST Award 2012" for Learning and Development, "Porter Prize 2012" for creating Shared Value, "Golden Peacock Award 2012" for Corporate Social Responsibility and "Golden Peacock Innovation Award-2010" for Rashtriya Swasthya Bima Yojana. It also received the "Product of the Year" award in the General Insurance category for FY2012-13 and was voted the No 1 Health Insurance Product in the survey of 18,000 people over 23 cities in India, a study done by Nielsen. The company has been conferred with 'Celent Asia Insurance Technology Award 2012' under the category Best Mobile Applications.

ICICI Lombard allows instant policy issuance and renewal through its website www.icicilombard.com

About Consumer Voice Society

Consumer Voice is a not for profit organization supported by Dept. of Consumer Affairs, Ministry of Consumer Affairs, Govt. of India. The organization conducts various activities focused on providing relevant and unbiased information to consumers under the 'Jago Grahak Jago' campaign. As a part of these activities, the organization has been conducting research exercises to assess the quality of service studies since 2005. These are conducted under the grant received from Consumer Welfare Fund (CWF), Ministry of Consumer Affairs & Public Distribution, Govt. of India.

Primary Media Contact: Girish J Kalra, [email protected], 91-22-61961461

Secondary Media Contact: Santosh Setty, [email protected], 91-22-67574444