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ICICI Lombard Milestones
Progressive Growth at ICICI Lombard
 | Aug 6, 2001 - ICICI Lombard commences Business |
| 2002 - 2003 - Becomes one of the first private sector general insurance players to achieve break-even levels in the first full year of its operations |
| 2003 - 2004 - Achieves underwriting breakeven in the second year of operations |
| Sept 7, 2004 - Becomes first general insurer to be ISO certified |
| Nov 2005 - Crosses the Rs. 10 billion GWP mark |
| March 31, 2006 - Ranked as the largest private sector General Insurance Company of India |
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July 26, 2005 – ICICI Lombard's Strong Disaster Response Mechanism that put Mumbai back to its feet
The devastating floods that severely affected Mumbai on July 26, 2005 resulted in the largest insurance loss India has witnessed till date. This unprecedented catastrophic floods in Mumbai tested ICICI Lombard on five parameters:
| Robust Reinsurance Program: The gross claim impact amounted to Rs.200 crores, of which 90% were settled due to the robust and conservative reinsurance support. |
| Responsiveness: The very next day after the flood, in-house customer service managers from around the country were brought in and teams were deployed on the ground. |
| Reach: A special help desk was set up whose contact numbers were prominently advertised in mainline news channels and calls to ICICI Lombard’s Mumbai call centre were diverted to the back-up call desks in Hyderabad to maintain 24x7 accessibility. |
| Service: Teams were present at various garages to speedily approve repair estimates. |
| Claims Settlement: A number of low lying houses that were flooded were assessed and customers’ home insurance claims were finalised on the spot with minimal paperwork. Proactive contact was made, damages were assessed and claims settled at the earliest. |
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