ICICI Lombard Marks 25 Years with 25 Breakthrough Insurance Innovations

• Marks 25 Years of Keeping Promises with 25 customer-first innovative solutions
• New offerings across health, motor, home, travel and commercial insurance

ICICI Lombard General Insurance, India’s largest private general insurance company, today unveiled 25 Innovative solutions across multiple lines of business as part of its Silver Jubilee celebrations. The company has surpassed its earlier record of 14 new launches on one single day and is now launching 25 innovations on one day, with 5 industry-firsts. These solutions exemplify our customer first approach, uniting a customer centric mindset with the power of new age technologies like AI, across the insurance lifecycle.

Over the last 25 years, ICICI Lombard has evolved alongside the changing needs of customers, continually expanding the role of insurance beyond financial protection. Having served over 500 million customers* and settled more than 60 million claims*, the company is now shaping the next phase of protection through innovations that help customers not only recover from risks but increasingly anticipate and manage them.

Sanjeev Mantri, Managing Director & CEO, ICICI Lombard, said - For 25 years, the ethos of ICICI Lombard has been simple - to stand by our customers for promises we have made and innovate for every promise of tomorrow.

On the momentous occasion of our Silver Jubilee, I would like to express our gratitude to our entire ecosystem of stakeholders – customers, partners, employees, shareholders and Regulators for their trust and support. On this landmark day, we decided to renew our promises to our customers and as part of our celebrations, have launched 25 innovative solutions. These offerings will enable us to service diverse needs of our customers and help in making insurance more personalised, meaningful and future-ready.

Key highlights from the 25 innovations are as follows:

Next Gen Products

• Elevate Her: A life-stage-based modular Women Care product that integrates OPD, wellness, maternity, preventive care and women-cancer related financial protection into a single solution. For the first time in the industry, it offers four customised plans to support women across different life stages with a seamless transition as their needs evolve.
• Paw Care: A comprehensive pet insurance plan covering veterinary expenses, emergencies, illnesses, accidents, surgeries and routine care for pets. Features include long term coverage and RFID tag based discounts.
• Complete Home Protect: A modular lifestyle protection solution for homeowners, covering interiors, jewellery, art, collectibles, and furnishings. Offers cashless home assistance services, policy tenure options up to 30 years, fixed capital appreciation annually, and additional living expenses if the home becomes inhabitable.

Elevating Service Experience

• Digital Branch @Sidddhivinayak (Industry First): India’s first digital insurance branch in a metro transit environment, enabling policy purchase, renewals, claims registration, online KYC, document submission and digital servicing.
• Motor Service Assure (Industry First): A time-assured roadside assistance service with a 30-minute service commitment, 24x7, across 15 cities in India.
• Motor Sahayak: Premium service offering immediate assistance during vehicle emergencies, including legal facilitation and reimbursement of defence-related expenses.
• Specialised Service Desk: Personalised service desks for senior citizens and preferred customer groups with priority access and faster assistance.

AI-led Innovations

• Voice AI (Industry First): Conversational platform supporting natural voice interactions in Hindi & English, available 24x7, completing policy purchase and payment journeys.
• Personalised Travel Planner (Industry First): AI-powered trip planner in the IL TakeCare app, generating curated itineraries with embedded insurance offerings.
• Smart Health Underwriting (Industry First): AI-powered underwriting delivering faster, seamless, self-guided digital journeys with real-time evaluations.

As ICICI Lombard enters its next chapter, these innovations reaffirm a promise that has remained constant for 25 years, to be there for customers, wherever they are and protect everything they value.

About ICICI Lombard General Insurance Company Limited

ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 25 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaye Vaade’. The company has issued over 39.2 million policies, over 3.4 million claims processed and has a Gross Written Premium (GWP) of ₹ 306.18 billion for the year ended March 31, 2026. ICICI Lombard has 341 branches and 15,008 employees, as on March 31, 2026.
ICICI Lombard has been a pioneer in the industry, being the first large-scale insurance company in India to migrate its entire core systems to the cloud. With a strong focus on being digitally-led and agile, the company has introduced multiple AI-powered insurance solutions. The company’s flagship insurance and wellness app, IL TakeCare, which has received over 22 million downloads, also offers the industry’s first Face Scan feature. The company has won several prestigious awards including Insurance Asia, ICC Emerging Asia Insurance, ET BFSI Exceller, ET Corporate Excellence, Golden Peacock, FICCI Insurance, Assocham, Stevie Asia Pacific, and National CSR.
For more details log on to https://www.icicilombard.com/.
For details, contact:

ICICI Lombard GIC Ltd. Rima Mane rima.mane@icicilombard.com Tel: +91 99877 87103

Adfactors PR Nilisha Gandhat nilisha.gandhat@adfactorspr.com Tel: +91 70211 12940

*Consolidated data till March 31, 2026, basis Annual Reports of the Company
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Press Release:
ICICI Lombard launches 25 Innovations on its 25th Anniversary!

• Marks 25 Years of Keeping Promises with 25 customer-first innovative solutions
• New offerings across health, motor, home, travel and commercial insurance

Mumbai, 03 August 2026: ICICI Lombard General Insurance, India’s largest private general insurance company, today unveiled 25 Innovative solutions across multiple lines of business as part of its Silver Jubilee celebrations. The company has surpassed its earlier record of 14 new launches on one single day and is now launching 25 innovations on one day, with 5 industry-firsts. These solutions exemplify our customer first approach, uniting a customer centric mindset with the power of new age technologies like AI, across the insurance lifecycle.
Over the last 25 years, ICICI Lombard has evolved alongside the changing needs of customers, continually expanding the role of insurance beyond financial protection. Having served over 500 million customers* and settled more than 60 million claims*, the company is now shaping the next phase of protection through innovations that help customers not only recover from risks but increasingly anticipate and manage them.
Speaking on the occasion, Sanjeev Mantri, Managing Director & CEO, ICICI Lombard, said:
"For 25 years, the ethos of ICICI Lombard has been simple - to stand by our customers for promises we have made and innovate for every promise of tomorrow.
On the momentous occasion of our Silver Jubilee, I would like to express our gratitude to our entire ecosystem of stakeholders – customers, partners, employees, shareholders and Regulators for their trust and support. On this landmark day, we decided to renew our promises to our customers and as part of our celebrations, have launched 25 innovative solutions. These offerings will enable us to service diverse needs of our customers and help in making insurance more personalised, meaningful and future-ready.”
Key highlights from the 25 innovations are as follows:
Next Gen Products

• Elevate Her: A life-stage-based modular Women Care product that integrates OPD, wellness, maternity, preventive care and women-cancer related financial protection into a single solution. For the first time in the industry, it offers four customised plans to support women across different life stages with a seamless transition as their needs evolve.
• Paw Care: A comprehensive pet insurance plan covering veterinary expenses, emergencies, illnesses, accidents, surgeries and routine care for pets. Features include long term coverage and RFID tag based discounts.
• Complete Home Protect: A modular lifestyle protection solution for homeowners, covering interiors, jewellery, art, collectibles, and furnishings. Offers cashless home assistance services, policy tenure options up to 30 years, fixed capital appreciation annually, and additional living expenses if the home becomes inhabitable.

Elevating Service Experience

• Digital Branch @Sidddhivinayak (Industry First): India’s first digital insurance branch in a metro transit environment, enabling policy purchase, renewals, claims registration, online KYC, document submission and digital servicing.
• Motor Service Assure (Industry First): A time-assured roadside assistance service with a 30-minute service commitment, 24x7, across 15 cities in India.
• Motor Sahayak: Premium service offering immediate assistance during vehicle emergencies, including legal facilitation and reimbursement of defence-related expenses.
• Specialised Service Desk: Personalised service desks for senior citizens and preferred customer groups with priority access and faster assistance.

AI-led Innovations

• Voice AI (Industry First): Conversational platform supporting natural voice interactions in Hindi & English, available 24x7, completing policy purchase and payment journeys.
• Personalised Travel Planner (Industry First): AI-powered trip planner in the IL TakeCare app, generating curated itineraries with embedded insurance offerings.
• Smart Health Underwriting (Industry First): AI-powered underwriting delivering faster, seamless, self-guided digital journeys with real-time evaluations.

As ICICI Lombard enters its next chapter, these innovations reaffirm a promise that has remained constant for 25 years, to be there for customers, wherever they are and protect everything they value.
The complete list of launches is provided in the attached product briefing document.
#ICICILombard #Technology #IndustryFirst #SanjeevMantri #Innovation
About ICICI Lombard General Insurance Company Limited
ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 25 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaye Vaade’. The company has issued over 39.2 million policies, over 3.4 million claims processed and has a Gross Written Premium (GWP) of ₹ 306.18 billion for the year ended March 31, 2026. ICICI Lombard has 341 branches and 15,008 employees, as on March 31, 2026.
ICICI Lombard has been a pioneer in the industry, being the first large-scale insurance company in India to migrate its entire core systems to the cloud. With a strong focus on being digitally-led and agile, the company has introduced multiple AI-powered insurance solutions. The company’s flagship insurance and wellness app, IL TakeCare, which has received over 22 million downloads, also offers the industry’s first Face Scan feature. The company has won several prestigious awards including Insurance Asia, ICC Emerging Asia Insurance, ET BFSI Exceller, ET Corporate Excellence, Golden Peacock, FICCI Insurance, Assocham, Stevie Asia Pacific, and National CSR.
For more details log on to https://www.icicilombard.com/.
*Consolidated data till March 31, 2026, basis Annual Reports of the Company

ICICI Lombard Partners Swiggy Instamart to Reinforce 30‑Minute Roadside Assistance

• One of its kind marketing integration designed to bring motor insurance into the everyday digital surfaces where consumers already spend their attention

ICICI Lombard General Insurance has rolled out a brand integration with Swiggy Instamart that reinforces its ‘Service Assure’ 30-minute roadside assistance promise by connecting it with the everyday delivery experience of Mumbai consumers. As shoppers track their orders on the Instamart app, the rider icon moving toward their address now carries ICICI Lombard's branding, accompanied by an in-app banner reinforcing the message — bringing motor insurance into a moment when the consumer is already engaged with the idea of fast, dependable service.

Quick commerce has redefined service benchmarks, with platforms like Swiggy Instamart delivering essentials within minutes. Harping on the same we wanted to highlight that if Swiggy Instamart is known for instant delivery, ICICI Lombard we have a product offering “Service Assured” which is known for road side assistance in 30 minutes. We wanted to leverage the instant proposition

The collaboration reflects a deliberate shift in how the brand is choosing to show up, moving beyond insurance’s traditionally limited touchpoints—when consumers buy a policy or when something goes wrong—both of which are functional and transactional, offering little opportunity to build affinity. The Swiggy Instamart integration seeks to change that by repositioning the brand within moments of routine, daily ease rather than decision or distress, embedding it seamlessly into everyday life. In Mumbai alone, the initiative is expected to deliver over 800,000+ impressions and reach 80,000+ Instamart users and drive approximately, enabling the brand to build consistent, high-frequency visibility at scale within a familiar and convenient consumer context.

What makes the choice of surface interesting is its intentionality. Rather than a generic media buy, the brand has chosen a specific screen, a specific behaviour, and a specific audience. The Instamart tracking screen is one of the most attentively viewed surfaces in urban digital life today — checked frequently, watched closely, and associated with a positive emotional state. It allows ICICI Lombard to be seen in passing, in good light, by exactly the kind of urban consumer Service Assure is built for — without interrupting them.

Commenting on the collaboration, Ms. Sheena Kapoor, Head – Marketing, Corporate Communications & CSR, ICICI Lombard, said: "With ICICI Lombard Service Assure, we have made a simple promise to our customers—to reach them with roadside assistance in under 30 minutes. Our collaboration with Swiggy Instamart is a natural extension of that promise. As consumers track their Instamart orders in real time, they'll see our Service Assure message integrated into the delivery journey, connecting our commitment to fast, dependable assistance with an experience they already know and trust. It's a simple yet powerful way of reinforcing that speed isn't just about deliveries—it matters just as much when you're stranded on the road. By bringing our promise into an everyday consumer moment, we're making insurance feel more relevant, more relatable and, above all, demonstrating that when our customers need us most, we will be there—quickly, reliably and with complete peace of mind."

The Swiggy Instamart integration, live in Mumbai as a pilot, continues a marketing approach ICICI Lombard has been shaping over time — one that meets consumers in the cultural and digital spaces they already spend time in, rather than asking them to come to insurance. ‘Service Assure’ which handles typical issues that need road side assistance

1. Car mechanical failure / breakdown and need for towing.
2. Need for Minor on-spot repairs.
3. Flat tyre
4. Battery failure - need for battery jumpstart

‘Service Assure’ promises on-road help within thirty minutes for private car customers across Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Kolkata, Pune and Ahmedabad, fits naturally within that thinking — and the Mumbai collaboration is the latest, and perhaps most contextually relevant, expression of it.

ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 2 decades, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaye Vaade’. The company has issued over 39.2 million policies, over 3.4 million claims processed and has a Gross Written Premium (GWP) of ₹ 306.18 billion for the year ended March 31, 2026. ICICI Lombard has 341 branches and 15,008 employees, as on March 31, 2026.

ICICI Lombard has been a pioneer in the industry, being the first large-scale insurance company in India to migrate its entire core systems to the cloud. With a strong focus on being digitally-led and agile, the company has introduced multiple AI-powered insurance solutions. The company’s flagship insurance and wellness app, IL TakeCare, which has received over 21.0 million downloads, also offers the industry’s first Face Scan feature. The company has won several prestigious awards- including the Insurance Asia, ICC Emerging Asia Insurance, ET BFSI Exceller, ET Corporate Excellence, Golden Peacock, FICCI Insurance, Assocham, Stevie Asia Pacific, and National CSR in recognition of its various initiatives. For more details log on to https://www.icicilombard.com/.

ICICI Lombard & IIM Kozhikode Ignite Innovation with Season 4 Case‑Study Challenge on Account Aggregator Framework

• Receives 1,900+ Registrations from 35+ premier institutes of the country

ICICI Lombard, one of India's leading private general insurer, has concluded the Season 4 edition of its flagship business case-study competition, IL IGNITING MINDS, in collaboration with IIM Kozhikode – one of India's premier management institutes. Designed to give young innovators a real-world platform to solve meaningful industry challenges, the initiative received 1,900+ student registrations from 35+ unique premier institutes across India.

The theme for this year's challenge, "Leveraging the Account Aggregator (AA) Framework to Transform Insurance", invited students from IIMs and IITs to explore how the AA framework can reshape key insurance functions — Underwriting, Distribution, and Claims — across Health, Home, Motor, and SME Insurance verticals.

Launched under the Data Empowerment and Protection Architecture (DEPA) by the Reserve Bank of India (RBI), the Account Aggregator framework enables individuals and businesses to securely and seamlessly share their financial data through a consent-based mechanism. While insurance is inherently a data-driven industry, insurers often face challenges in accessing accurate, timely, and comprehensive information during critical processes such as underwriting, distribution, and claims. Much of this relevant data — including income details, credit history, transaction patterns, and business performance — remains fragmented across multiple financial institutions. By enabling insurers, as Financial Information Users, to access customer-permitted data from Financial Information Providers through secure and consent-driven data sharing, the AA ecosystem holds significant potential to transform how insurance products are designed, distributed, and serviced.

Through this competition, ICICI Lombard sought to foster innovation, bridge the gap between academia and industry, discover strategic opportunities, and identify high-potential talent who can contribute to shaping the future of insurance in India. For participants, the competition offered a platform to apply analytical thinking, creativity, and business acumen to real-world challenges, gain exposure to the evolving insurance ecosystem, and collaborate with industry leaders driving digital transformation.

Building on past editions conducted with institutes such as IIM Calcutta, IIM Lucknow, NMIMS, and IIT Bombay (E-Cell), the IIM Kozhikode edition marks yet another significant step in expanding the competition's reach across India's top campuses.

Ms. Sheena Kapoor – Head Marketing, Corporate Communications & CSR, ICICI Lombard, said, “Season 4 of IL Igniting Minds reaffirmed our belief that the future of insurance will be shaped by a powerful blend of technology, trust, and human insight. With over 1,900+ student registrations from 35+ premier institutions, including leading IIMs and IITs, we witnessed young minds engaging deeply with this year’s case study topic — ‘Leveraging the Account Aggregator Framework to Transform Insurance.’

What stood out was their ability to look beyond efficiency and focus on making insurance more accessible, intuitive, and relevant to people’s everyday financial lives. Their ideas reflected not just innovation, but also empathy and responsibility — qualities that will define the next chapter of the industry. For us, IL Igniting Minds is more than a competition; it is a window into the thinking and leadership of the next generation.”

IL Igniting Minds business case-study competition, Season 4 was conducted at ICICI Lombard Head Office, where the finalist teams had an opportunity to showcase their ideas to the senior management of the company.

ICICI Lombard Becomes One of The 1st Indian Insurer with Fully Automated AWS Multi-Region DR, Enabled by TCS

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) a global leader in IT services, consulting, and business solutions, has successfully enabled ICICI Lombard to achieve fully automated AWS multi-region Disaster Recovery (DR) switchover. This establishes ICICI Lombard as one of the first insurance companies in India to achieve fully automated multi-region resilience on the Amazon Web Services (AWS) Cloud.

The innovative DR solution—designed to ensure business continuity in the face of unexpected disruptions—leverages automation-first, infrastructure-as-code approach. It leverages AWS-native technologies to enable intelligent, automated failover for key systems with minimal downtime or manual effort. With TCS as its growth partner, ICICI Lombard has been operating on AWS Cloud since 2021. To strengthen business continuity and achieve geographical redundancy, TCS helped the insurer establish a robust, scalable and fully automated DR setup.

Girish Nayak, Chief – Technology and Health (Underwriting & Claims), ICICI Lombard, said, “With resilience at the core of our digital operating model, and TCS as our strategic technology partner, we’ve been able to transform our disaster recovery capabilities into a truly agile, automated and cloud-native setup. This not only enhances our readiness for unexpected infrastructure disruptions but also reinforces our commitment to uninterrupted service to our customers. I would like to thank and congratulate TCS for enabling this automated disaster recovery solution by leveraging their cloud expertise in the insurance domain.”

TCS brought on board its deep domain expertise in the insurance industry and used its contextual knowledge of ICICI Lombard’s systems to deliver a best-in-class DR solution. The automation solution was built using highly performant data driven serverless architecture designed for large scale orchestration. This implementation not only improves operational resilience and reduces recovery time but also sets a new industry benchmark for automated disaster recovery in the BFSI sector.

Ujjwal Mathur, President & Country Head – India Business, TCS, said, “This engagement highlights our commitment to helping clients achieve next-generation resilience through cloud-native innovation. This intelligent, automation-led DR solution sets a new benchmark for BFSI organizations by enabling seamless, fast and scalable disaster recovery with zero touch. We are proud to partner with ICICI Lombard to reimagine infrastructure resilience in this digital era.”

TCS has been ICICI Lombard’s strategic IT partner since 2006 and has been managing their datacenter operations since 2013. TCS has been instrumental in seamlessly migrating all the ICICI Lombard applications to public cloud in 2021 and has since been supporting the ICICI Lombard cloud environment. It is now modernizing the insurer’s systems – Project Orion – with TCS BaNCS™ Insurance being deployed as part of the program. TCS is a leading player in the BFSI sector, partnering with top banks, leading insurance firms, prominent capital market entities, major investment banks, and wealth management companies globally.

TCS BaNCS™ for Insurance is a comprehensive offering suite, supporting a range of insurance products and functions, including customer management, product definition, plan management, policy administration, claims management, insurance accounting and reinsurance, along with a digital suite that can be tailored based on persona, among several options

IIT Bombay’s BETIC Gets ₹70 Cr Boost from ICICI Foundation to Advance Biomedical R&D

Indian Institute of Technology (IIT) Bombay and ICICI Foundation for Inclusive Growth (ICICI Foundation), the CSR arm of ICICI Bank, have forged a partnership to expand the biomedical innovation hub at the country’s premier technology and engineering institute. Under this partnership, ICICI Foundation has pledged ₹70 crore to set up additional floors at the Biomedical Engineering and Technology Innovation Centre (BETIC) at IIT Bombay and equip this area with advanced facilities.

The MoU was signed by Prof. Shireesh Kedare, Director, IIT Bombay and Mr. Sanjay Datta, President, ICICI Foundation in presence of Mr. Pradeep Kumar Sinha, Chairman, ICICI Bank.

The new floors, named ‘IIT-ICICI BETIC Hub’, will significantly expand IIT Bombay’s capabilities in biomedical engineering, increasing its space five-fold to 19,700 sq. ft. The hub will foster collaboration among researchers, clinicians, and industry leaders to develop affordable, cutting-edge medical devices and diagnostic solutions. It will be equipped with state-of-the-art resources for product development, medical grade manufacturing, safety testing, inspection, and packaging. This enhanced ecosystem will support med-tech startups and companies, train professionals in healthcare innovation, and generate high-value jobs, ultimately benefiting millions of patients.

Speaking on the collaboration, Prof. Shireesh Kedare, Director, IIT Bombay, said, "This partnership exemplifies how industry-academia alliances can drive innovation towards real-world impact. With ICICI Foundation’s generous support, IIT Bombay is poised to revolutionise biomedical research and technology, addressing critical healthcare gaps in India, fostering home-grown solutions that are accessible, affordable, and scalable.”

Commenting on the partnership, Mr. Pradeep Kumar Sinha, Chairman, ICICI Bank, said, “Healthcare is a key focus at ICICI Foundation’s CSR initiatives. India’s unique healthcare challenges -- high disease burden, vast rural populations, and affordability constraints—demand indigenous innovations in biomedical, tailored to its needs. Homegrown advancement will not only reduce dependency on imports but also foster cost-effective, cutting-edge medical solutions that can empower healthcare professionals and benefit millions across the country. The partnership between ICICI Foundation and IIT Bombay aims to meet this objective. The ‘IITB-ICICI BETIC Hub’ will facilitate the development of indigenous medical innovations ensuring affordable healthcare solutions to patients. We are delighted to collaborate with IIT Bombay to drive a meaningful change in the healthcare ecosystem.”

So far, ICICI Foundation has positively impacted over 2.5 million lives to receive treatment in 550 hospitals across the country through its initiatives in the healthcare sector. This includes building capacity in curative care, including cancer care, cardiac care, eye care, trauma and emergency care.

About BETIC:

BETIC is the only lab in an academic setting in India with ISO 13485 certification—an internationally recognised quality management system standard for medical devices. It has identified 450 unmet needs after detailed discussions with hundreds of doctors across various specialisations, created 240 novel prototypes, and has filed 70 patents. It has developed 43 medical devices, out of which 23 have been taken to market by startups formed at BETIC; while the remaining 20 devices have been licensed to Indian companies. A recipient of 61 prestigious awards, BETIC has impacted several million lives till date. For more details on BETIC’s work, visit Medical Device Innovation –BETIC, Mumbai

ICICI Lombard Partners with Singapore-based actyv.ai to Introduce Revolutionary Insurance Solutions for SMEs

The partnership aims to enhance supply chain risk protection for enterprises and their partners

ICICI Lombard, India's leading private general insurance company, has announced a strategic partnership with actyv.ai, a Singapore-based enterprise SaaS platform with embedded B2B, BNPL (Buy Now Pay Later) and insurance. This collaboration aims to co-create innovative insurance products specifically tailored for enterprises and their supply chain partners, empowering sustainable growth and mitigating business risks in the evolving market landscape.

Under this partnership, ICICI Lombard will collaborate with actyv.ai to design comprehensive insurance offerings for the entire supply chain ecosystem, encompassing distributors, retailers, and suppliers. By providing group insurance options to supply chain partners, enterprises can foster continuous growth, while simultaneously ensuring the wellbeing and security of all stakeholders. Leveraging actyv.ai's technological capabilities, ICICI Lombard will embed bite-sized insurance products within the actyv.ai platform, enabling seamless access to enterprises and small businesses alike.

Sanjeev Mantri, Executive Director at ICICI Lombard, highlighted the significance of the partnership: “We recognize that MSMEs are the driving force behind the economy, and we are committed to safeguard their interests through accessible and comprehensive insurance policies. Through our collaboration with actyv.ai and their advanced technology platform, we aim to offer customized insurance products to the supply chain ecosystem that is an integral component of the MSME business, thereby shielding them from potential business disruptions We have been pioneers in the MSME insurance space from offering seamless digital solutions to settling claims of Rs. 5 lacs within just 10 days, and are happy to offer yet another feature that is customised to their unique needs.”

“Through our partnership with ICICI Lombard, we will now be able to offer innovative insurance products, embedded on our technology platform, to all enterprises and their distributors, retailers, and suppliers. We are excited about our partnership, and together, we are eager to leverage technology to enable relevant risk-protection to the MSME segment. Our combined offerings will ensure sustainable growth for all players in the supply chain ecosystem, allowing for an environment of surety and support”, said Raghu Subramanian, Founder and Global CEO of actyv.ai.

This partnership signifies a crucial step in fortifying the long-term success and sustainability of MSMEs in India by offering robust and accessible insurance solutions. ICICI Lombard and actyv.ai are committed to empowering businesses with the necessary risk protection, fostering growth, and contributing to the overall economic development of the country.

ICICI Lombard is the first in India to establish a digital platform specifically designed for MSMEs to acquire risk coverage (sme.icicilombard.com). This platform is a testament to our dedication in partnering with MSMEs through their journey towards growth and effective risk management.

About ICICI Lombard General Insurance Company Limited

ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 21 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaaye Vaade’. The company has issued over 32.7 million policies, settled 3.6 million claims and has a Gross Written Premium (GWP) of ₹217.72 billion for the year ended March 31, 2023. ICICI Lombard has 305 branches and 12,865 employees, as on March 31, 2023.

ICICI Lombard has been a pioneer in the industry and is the first large scale insurance company in India to migrate its entire core systems to cloud. With a strong focus on being digital led and agile, it has launched a plethora of tech-driven innovations, including the industry first Face Scan on its signature insurance and wellness App - IL TakeCare, with over 4.6 million downloads. The company has won several laurels including ET Corporate Excellence Awards, Golden Peacock Awards, FICCI Insurance Awards, National CSR awards etc. for its various initiatives. For more details log on to www.icicilombard.com

About actyv.ai:

actyv.ai is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance, transforming the global B2B supply chain by making business transactions faster and easier. Through its partnerships with financial institutions, actyv.ai enables enterprises, suppliers, distributors and retailers to grow. actyvGo, actyvScore, actyvPayLater, actyvInsure and actyvInvest are the various product categories on the platform. For more information, please visit: https://www.actyv.ai, 

ICICI Bank Introduces EMI Facility for UPI Payments by Scanning QR Code

Representative Image

• Customers can avail of the facility using PayLater, the Bank’s ‘buy now, pay later’ service
• First bank to offer such a facility
• Lakhs of customers of the Bank can opt for flexible EMIs of 3, 6 or 9 months

ICICI Bank has announced that it has introduced easy EMI facility for UPI payments made by scanning QR code. Customers eligible for PayLater, the Bank’s ‘buy now, pay later’ service can avail of the EMI facility in an instant, easy and seamless manner. This first-of-its-kind facility enhances affordability of lakhs of the Bank’s customers as they can now instantly buy products or services just by scanning the required merchant QR code at a store and making payments in EMIs.

The facility can be availed across a host of categories such as electronics, groceries, fashion apparels, travel and hotel bookings. Customers can pay transaction amount above ₹10,000 in easy instalments in three, six or nine months. The EMI facility for PayLater will shortly be extended for online shopping as well.

Talking about the new facility, Mr. Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank, said “We, at ICICI Bank, always aim at launching products and services to improve convenience of our customers and to provide unique solutions to address their evolving credit needs. We have seen that maximum payments these days are made through UPI. In addition, we have observed that customers are increasingly opting for UPI transactions from PayLater, the Bank’s ‘buy now, pay later’ service.

Combining these two trends, we are introducing the facility of instant EMI for UPI payments done through PayLater. With this facility, lakhs of our customers making UPI payments by scanning a merchant QR code can shop for mid to high value items and pay in easy EMIs. We believe, this facility provides immense convenience and improves affordability of our customers, as they can purchase high-value products on EMIs in a secure, instant and digital manner.”

ICICI Bank was the first bank to introduce PayLater facility in 2018 to enable customers to buy small ticket items immediately in a completely digital and paperless manner. PayLater facility enables customers to shop online, pay bills and pay to any merchant UPI ID at physical stores instantly.

Below are easy steps to avail the EMI facility on PayLater:

1. Visit any physical store and choose your preferred product or service
2. To make the payment, use iMobile Pay app and choose ‘Scan any QR’ option
3. Select PayLater EMI option if transaction amount is ₹10,000 or more
4. Select tenure among 3, 6 or 9 months
5. Just confirm the payment and the transaction is completed successfully

To know more about the PayLater facility, please visit https://www.icicibank.com/Personal-Banking/paylater.page.page?

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICIBank

For media queries, write to: corporate.communications@icicibank.com

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹ 15,21,748 crore at December 31, 2022.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.go

In An Industry's First, ICICI Lombard Risk Management Gets Patent for An IoT System

ICICI Lombard risk management receives a patent for IoT-enabled System to avert fire-hazards

In an industry-first move, ICICI Lombard to offer this product to SME and Corporate institutions

In recent years, the evolution and development of IoT (Internet of Things) devices have provided exciting capabilities and services to the end user. IoT devices have also been introduced in different areas to prevent unexpected mishaps caused by human error or malfunctioning of devices. One such mishap that can happen due to malfunctioning of devices is a fire disaster. ICICI Lombard, India’s leading private non-life insurance company, has identified this area to innovate an IoT-based device that protects properties from various electrical hazards. The company has been awarded a patent to offer this product to its customers.

This is an industry-first initiative undertaken by ICICI Lombard General Insurance Company, and this patented electrical IoT solution is a B2B device geared towards SMEs and corporates. The solution monitors electrical hazards to notify and control if necessary on real time basis. Using this patent, the company aims to strengthen its resources to provide technologically robust and quality customer solutions.

Speaking about the recently approved patent, Sanjay Datta, Chief of Underwriting, Claims and Reinsurance, ICICI Lombard, said, “We have been able to see a high rise in the number of fire incidents in commercial as well as residential buildings, which only goes to show that a lot of infrastructure across our nation, especially in densely populated metros, are vulnerable to fire. However, there is an essential need for advanced technology to plan, manage, monitor, and control electricity delivery to enable a safe and reliable system. Technology has always been a major driving force for us at ICICI Lombard to provide cutting-edge risk solutions to millions of customers."

"With this patent approval of an IoT-based - system, we aim to provide not just insurance covers to our customers but also ensure their safety and prevent hazards. This device will serve as a new-risk solution for customers and having introduced several innovative, tech-enabled insurance solutions in the past years gives ICICI Lombard an edge over his peers.”

Majority of fires in India are caused due to electrical installations. Maximum number of disasters in industries are due to electrical problems such as voltage fluctuations, overheating, and ageing of the material and electrical gadgets. Further, causing huge losses and burdens on small industries. Therefore, the launch of such a solution is more relevant.

At ICICI Lombard we work with customers to develop best in class risk management and mitigation practices. Understanding of risk is fundamental to our business. Today, we have made it a key component of risk management and identified ways to view the risk landscape qualitatively and quantitatively. Our risk management cell has been instrumental in enhancing the overall safety culture for several clients. Risk solutions such as Safety Studies, Risk assessments, Sector wise Solutions, etc. have been developed to create awareness among customers. On the technological front, we have started introducing IoT solutions for key components. We have specifically focused on the problems plaguing the MSME and SME segment and their lack of access to quality risk management services. Accordingly, we have reinvented our offerings to include hard data on the electrical, fire and process safety. It is interesting to see how safety and efficiency go together especially with respect to electrical safety. We are starting to see increased awareness as customers and elevate their risk preparedness.

In the past, ICICI Lombard has developed various technological advancements that have ensured a seamless customer experience. The Company is leveraging natural language processing and robotic process automation technology to automate the quote generation process and policy booking for corporate and SME customers. Under SME segment which is close to 90% of the business sourcing is done through digital solutions. Approximetly 97% of ICICI Lombard’s policies today are issued electronically. With the use of AI-based motor break-in solutions for lapsed policy renewal, drones for motor video surveillance, and agent hiring and on boarding moving digital, the use of AI as well as ML in underwriting and risk management has significantly increased for the Company making it the most tech-enabled companies in the sector.

About ICICI Lombard General Insurance Company Ltd

ICICI Lombard is one of the leading general insurance companies and the leading motor insurer in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 20 years, ICICI Lombard is committed to customer centricity with its brand philosophy of ‘Nibhaaye Vaade'. The Company has issued over 29.3 million policies, settled 2.3 million claims and has a Gross Written Premium (GWP) of ₹185.62 billion for the year ended March 31, 2022. ICICI Lombard has 283 branches and 11,085 employees as on March 31, 2022.

ICICI Lombard has been a pioneer in the industry and migrated its entire core systems 100% to the cloud. With a strong focus on being digital led and agile, it has launched a plethora of tech-driven innovations, including Face Scan and Cal Scan on its signature insurance and wellness App - IL TakeCare, with over 3.0 million downloads. The Company has won several laurels including the 'Emerging Company of the Year at ET Corporate Excellence Awards, 'Best General Insurance Company at Annual Best & Emerging Insurance Company Awards, 'ACEF Asian Leadership' for 'Combatting COVID 19' initiatives, Guinness World Record for its CSR initiatives and many more. The awards are a testament to the trust reposed in the Company by its customers, partners, and other stakeholders. For more details log on to www.icicilombard.com

ICICI Bank Launches Four Digital Banking Units

ICICI Bank today announced the launch of four Digital Banking Units (DBUs) to offer banking services to its customers digitally. The launch is part of the government’s plan to set up 75 DBUs in as many districts to commemorate 75 years of India's independence. Shri Narendra Modi, Honourable Prime Minister of India inaugurated the 75 DBUs virtually today in the presence of Smt. Nirmala Sitharaman, Honourable Finance Minister and Shri Shaktikanta Das, RBI Governor. ICICI Bank has set up the DBUs at Dehradun in Uttarakhand, Karur in Tamil Nadu, Kohima in Nagaland and Puducherry.

A DBU comprises two distinct areas— a Self-service Zone and a Digital Assistance Zone. The Self-service Zone houses an ATM, a Cash Deposit Machine (CDM) and a Multi-Functional Kiosk (MFK) that offers a number of services including printing of passbook, depositing cheque and accessing internet banking. Further, it has a Digi Branch Kiosk that offers all services available on iMobile Pay, the Bank’s mobile banking app. The Zone also provides a digital interactive screen where customers can interact with a chatbot in order to find product offers and mandatory notices. The Self-service Zone is operational 24x7.

At the Digital Assistance Zone, branch officials assist customers to undertake various financial and non-financial transactions. These include opening of saving account, current account, fixed deposit and recurring deposit; availing of home loan, auto loan, personal loan and applying for credit card. These services are offered in a completely digital manner through a tablet device, using Aadhaar based eKYC. In addition, branch officials will help customers download and start using the mobile banking app as well as internet banking.

The Digital Assistance Zone remains open from 9:30 am to 3.00 pm on Monday to Friday as well as, on the first, third and fifth Saturdays of the month.

Speaking on the new initiative, Mr. Rakesh Jha, Executive Director (Designate), ICICI Bank said, “We are delighted to be part of the initiative of setting up DBUs across the nation, under the aegis of RBI. They operate like digital branches where customers can undertake banking transactions digitally, at a time of their convenience. They can also seek guidance from experts on banking services at these units.

In the last few years, we have seen that the customer’s behaviour at branches has evolved. Customers are now more keen to seek advice and guidance at branches for complex transactions, loans and investments while they prefer doing simple transactions on their own through digital channels like internet and mobile banking. We have designed the DBUs to meet these evolving requirements of our customers.”

In addition to offering banking services, the DBUs will conduct Digital Literacy Programmes regularly to spread awareness around safe banking, digital banking and cyber security.

ICICIdirect Acquires Multipie, an Investor Community Based Networking Platform

Multipie offers strong content, community and engagement proposition

A great platform to activate and engage with market enthusiasts

Second startup investment by the company, post its investment in Asknbid in Oct 2021

ICICIdirect, one of India’s leading equity houses, today said that it has acquired the startup Multipie, a web and app based networking platform for the investor community which enables them to discuss, exchange ideas and share views on stocks and other investment assets. The transaction involves acquisition of Multipie App, technology, brand, domain name, user base and other related matters.

Multipie App was launched in October 2021 and has been growing at 40%+ month-on-month and enjoys a rating of 4.9 on Playstore and 4.7 on App Store. Within a short period, the Multipie community has grown to be highly engaging on the back of high quality content (newsletters, infographics, blogs etc.) and moderated discussion boards where users gain market insight. The platform is intuitive and socially integrated, enabling users to export content to their social media handles. Users can link their portfolio with the platform, allowing monitoring as well as participating in focused discussions.

Multipie has features like stock discovery ideas, import stock portfolio, content creation with stock tags, user tags with Twitter integration and others. Being social, the platform enables members follow each other and also share their portfolio only with people they chose to. There are a number of other great features in the pipeline, which shall be released over time.

This is the second such investment by ICICIdirect, post its investment in Asknbid, a start-up in the financial gaming space in October 2021, when it picked up a significant minority stake. Founded by two IIT engineers, Asknbid is focused on building algorithmic investing-based technology products. It has created ‘Dstreet Games’, a learning platform that uses engaging experience along with content and community learning to create a practical learning approach. The platform is focused on College Students, Young Professionals (Millennials, Gen Z) + Tier 2/3 Audience.

About ICICI Securities

ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services.

I-Sec operates www.icicidirect.com, India’s leading virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its four lines of businesses -- broking, distribution of financial products, wealth management and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

I-Sec is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For details, visit: www.icicisecurities.com

ICICI Bank Introduces a Slew of New Digital Facilities on Its ‘Money2World’ Platform

• First bank to offer instant video KYC to on-board users on a money remitting platform
• Customers of other banks can remit up to USD 250,000 a year
• Integrates the remittance platform with its mobile banking app enabling customers to remit fund anytime, on the go

ICICI Bank today announced the launch of an array of new facilities on its online outward remittances platform, ‘Money2World’ (M2W), to provide improved convenience to users including those who do not have accounts with the Bank.

One of the new services empower customers of other banks to complete the KYC (Know Your Customer) process via video conferencing to register themselves on M2W, an industry-first initiative. Another new facility enables customers, having account with any other bank, to remit upto USD 250,000 in a financial year under the Liberalised Remittance Scheme (LRS), 10 times of their previous limit. Further, ICICI Bank has integrated its mobile banking app ‘iMobile Pay’ with the M2W platform. This integration enables its customers to send money overseas, choose and set their desired exchange rate, and enter a one-time instruction to schedule recurring payments through ‘iMobile Pay’.

Users of ‘Money2World’ can remit funds to 21 currencies for a host of purposes including education, maintenance of close relatives, gift and travel.

Mr. Sriram H. Iyer, Head - International Banking Group, ICICI Bank said, “We, at ICICI Bank, believe in leveraging the latest technology to bring in new and improved digital banking solutions to users of our products and services. As part of this philosophy, we are offering convenient and digital facilities on the ‘Money2World’ platform to our customers as well as customers of other banks. In an industry-first initiative, customers of any other bank in India can register on ‘Money2World’ through a secure, AI driven, video KYC facility and start sending money abroad. They can also remit up to USD 250,000 under LRS in a financial year. 

Further, the integration of ‘Money2World’ with ‘iMobile Pay’ app offers an enhanced convenience to our customers as it allows them to conduct transactions on the go, from their mobile phone. We believe that all the latest offerings will help customers to remit funds overseas 24x7 with confirmed exchange rates, in a completely contactless, digital and safe manner, even if they do not have an account with ICICI Bank.”

Below are some of the key benefits of ‘Money2World’ platform:

• Video KYC facility: An official of the Bank helps an individual, who is eager to join the M2W platform but does not hold an account with ICICI Bank, to complete the KYC process through a video call. It brings forth the convenience of significant time-saving as it takes only a few minutes against the paper intensive, physical KYC verification process at a branch.
• Enhanced LRS limit: Customers of any other bank can now remit up to USD 250,000 under LRS through M2W platform and fulfill their need to send large amount overseas.
• Transact through ‘iMobile Pay’: The Bank’s customers can remit money via ‘iMobile Pay’. They can just log into the app, choose the ‘Send Money’ option and finally send money abroad by selecting ‘Transfer Overseas’.
• Rate alert: The Bank is first in the industry to provide customers with personalised forex rate alerts through SMS/e-mail so that they can automatically initiate transactions at their desired exchange rates.
• Standing instructions: This feature enables customers to enter a one-time instruction to schedule recurring payments. The payment will be executed automatically on the scheduled due date, as specified by customers.

To know more about the video KYC for non-ICICI Bank account holders, please visit - https://www.icicibank.com/campaigns/VKYC-M2W/lp/index.html

To know more about the ‘Money2World’ facility, please visit - https://www.icicibank.com/internet-banking/fund-transer/outward-remittance/money2world.page

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICIBank

For media queries, write to corporate.communications@icicibank.com

ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 14,11,298 crore at March 31, 2022.


Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov

ICICI Bank On-Boards 70 Leading Corporates on ‘Corpconnect’, a Digital Platform for Banking and Supply Chain Finance

• First-of-its-kind digital banking platform
• Offers data analytics driven instant financing to channel partners ∙ Companies can undertake instant payments / collections with channel partners

ICICI Bank today announced that it has on-boarded 70 leading companies on ‘CorpConnect’, the digital platform that it launched last year to enable corporates to undertake instant payments and collections to/from their channel partners. ‘CorpConnect’, a first-of-its kind initiative, also offers instant and collateral free digital channel financing solutions such as dealer finance for distributors and vendor finance/ reverse factoring for suppliers.

The list of these companies include ArcelorMittal Nippon Steel India Ltd., Asian Paints Ltd., Blue Star Ltd., Crompton Greaves Consumer Electricals Ltd., Exide Industries Ltd., Hero Cycles Ltd., Hindustan Unilever Ltd., Kansai Nerolac Paints Ltd., Nayara Energy Ltd., Orient Electric Ltd., Somany Ceramics Ltd., V-Guard Industries Ltd. and Voltas Ltd. (in alphabetical order) among others. These companies-- many of them are members of the ‘S&P BSE 200 Index’-- represent various industries namely FMCG, consumer durables, auto ancillaries, steel, oil, cement, textiles, paints, tiles/ sanitary wares, pipes, chemicals, engineering goods and agriculture commodities.

Through ‘CorpConnet’, companies can directly integrate with the Bank’s systems and embed the banking solutions such as channel financing, vendor bill/ invoice discounting, payable finance and factoring within their ERP systems. This can be done either with API integration with the Bank or with host-to-host SFTP (Secure File Transfer Protocol) solution. The use of these cutting-edge technologies reduces integration time significantly, thereby enhancing operational and financial efficiencies of the companies significantly.

Speaking on the announcement, Mr. Anuj Bhargava, Head- Global Clients Group, ICICI Bank said, “ICICI Bank believes in leveraging the latest technology to bring in new and improved digital banking solutions to its customers. In line with the philosophy, we launched ‘CorpConnect’ last year to help companies and their channel partners with the facility of seamless collection/payment, reconciliation and financing on a day-to-day basis. We are pleased to share that we have on-boarded 70 leading corporates on ‘CorpConnect’.

‘CorpConnect’ undertakes average monthly transactions worth few thousand crores of rupees. We believe that ‘CorpConnect’ has immense potential to simplify the document-intensive supply chain management by bringing all stakeholders on a single platform and providing them with instant, digital and seamless solutions.”

The benefits offered by ‘CorpConnect’ for companies:

• Digital ecosystem: Corporates can interact and transact digitally with their channel partners- suppliers and dealers—on a single platform
• Digital process: End-to-end digital and paperless processes for banking and operations helps corporates with speed and higher productivity
• Instant payments & collections: Corporates can undertake instant payments and collections to/from their channel partners. The integration with ERP ensures automation of transaction updates in ERP on real-time basis and automated reconciliation
• Instant finance: Corporates can avail the facility of factoring, payable finance and early pay on the platform
• Financial efficiencies: Reduced working capital and operational cost brings in significant operational and financial efficiencies
• MIS dashboard: Customised MIS reports updated in ERP on real-time basis improves forecasting of corporates by combining operations and financial data

The benefits for suppliers and dealers:

• Instant finance: Availability of instant and collateral free digital channel financing solutions like dealer finance for distributors and vendor finance/ reverse factoring for suppliers at competitive rates. Digital and quick processing in a hassle-free way; no requirement of lengthy and tedious paperwork
• Wide reach: The online finance facility is across the nation
• Real time information: Availability of invoice-wise details to channel partners on a real time basis with adjustment of debit/ credit notes and cash discount, if applicable ∙ Multiple payment options: There are multiple payment options namely current account, channel finance OD account, Pay2Corp – virtual account set up, payment gateway and others
• Customised MIS: Real-time access to customised MIS reports

To know more about ‘CorpConnect’ digital solution, please visit, https://www.icicibank.com/sme/digital-finance-supply-chain page ; corporates can contact their ICICI Bank account manager or write to us at < dfsc@icicibank.com> for any further information.

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICIBank

For media queries, write to: corporate.communications@icicibank.com

ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹ 16,04,053 crore at September 30, 2021. ICICI Bank's subsidiaries include India's leading private sector

insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 15 countries, including India.

ICICI Bank to Offer Instant Overdraft (OD) to Sellers Registered on Amazon.in

• Enables sellers on amazon.in to avail OD of upto Rs 25 lakh instantly and digitally
• First bank to automate scorecard-based mechanism that allows instant approval to sellers
• Customers of ICICI Bank can use the OD immediately

ICICI Bank today announced that it has partnered with Amazon India to offer overdraft (OD) facility upto Rs 25 lakh to individual sellers and small businesses registered on the e-commerce company’s online marketplace, www.amazon.in, instantaneously and digitally. Driven by API integration, the partnership enables sellers to avail an OD from the Bank in a process--from application to sanction to disbursement-- that is entirely digital. Even customers of other banks can avail the OD facility from ICICI Bank, if they are registered as sellers with amazon.in.

Leveraging advanced data analytics, ICICI Bank has developed this new facility that functions on the back of an industry-first scorecard to instantly evaluate credit worthiness of sellers based on their financial profile including Credit Bureau scores.

The new credit assessment method offers significant convenience to the sellers as it does away with the paper-intensive bank statements or income tax returns for assessing credit worthiness. Further, it empowers small businesses and individual sellers who are ‘new-to-credit’ and ‘existing MSME borrowers’ to unlock the value of their digital transactions and get access to instant credit.

Sellers having current account with ICICI Bank can immediately start using the OD to meet their working capital requirements. Customers of other banks can avail the OD by simply opening a current account with the Bank digitally.

Speaking on the initiative, Pankaj Gadgil, Head- Self Employed Segment, SME & Merchant Ecosystem, ICICI Bank said, “ICICI Bank has always believed that access to timely credit and ease of doing business are key parameters for the growth of the MSME businesses. In line with this, we are pleased to launch the OD facility for sellers registered on amazon.in instantly and digitally. The partnership stands to enable sellers to avail instant overdraft up to Rs. 25 lakh in a completely digital manner. They can start using the OD amount immediately to meet their working capital requirements. We have specially curated a new way of assessing credit worthiness of the sellers on the basis of their Credit Bureau score as well as their transaction history on amazon.in. This new and improved process will help the sellers, who may otherwise not get access to adequate credit when assessed in the traditional way of using only balance sheets, bank statements and tax returns. We believe that this new proposition resonates our effort in developing path breaking innovations for MSME customers and will empower them with new avenues of business expansion."

Vikas Bansal, Director – Amazon Pay India said, “We are prioritizing our efforts to help sellers on amazon.in bounce back from the disruption owing to COVID-19. Our mission is to enable easy and trusted access to credit for sellers with transparent policies and at low costs. Our partnership with ICICI Bank will provide sellers across India with an OD facility instantly and digitally at affordable rates to meet all their current and future requirements.”

Here are the benefits of ‘InstaOD’ for amazon.in sellers:

• Online loan application: Sellers registered on amazon.in can apply for the OD instantly online through amazon.in in a completely digital and paperless manner
• Easy process: The Bank evaluates sellers instantly on the basis of their Credit Bureau score and their transaction history on amazon.in, making the loan approval process easy and quick. This is a marked improvement over the typical process which demands sellers to go through the tedious paper-intensive process of submitting income tax returns, bank statements and GST returns
• Instant sanction and disbursal: The approved OD amount is instantly sanctioned and disbursed into the seller’s current account
• Pay for what you use: Sellers only need to pay interest on the amount of OD utilised by them
• Auto-renewal facility: The OD is renewable on an annual basis, depending on the repayment track records of the seller

Below are quick steps for the sellers to avail the ‘InstaOD’:

• View offer: Eligible sellers can find the ICICI Bank offer on their account of Amazon Seller Central, online portal for sellers registered on amazon.in
• Click on banner: The seller is redirected to ICICI Bank’s ‘InstaOD’ platform upon clicking on the banner on Seller Central
• Fill details: The seller needs to login and fill in the digital application form
• Confirm to sanction amount: Upon confirmation of the amount from the seller, the OD is instantly sanctioned. If the seller already has a current account with ICICI Bank, then the seller can immediately start using the OD
• Account opening for new-to-bank seller: Sellers new to ICICI Bank, will be redirected for instant opening of current account and KYC validation.

Sellers registered on amazon.in can avail the ‘InstaOD’ facility through Amazon Seller Central or by clicking on the following link: https://sellercentral.amazon.in/lending/ph/offers

Organisations and Partners can get in touch with the Bank for API integrations through https://www.icicibank.com/business-banking/finance/insta-overdraft.page

ICICI Bank Germany Launches Digitally-Blocked Account for Indian Students

• Students can instantly open the account digitally
• ICICI Bank Germany is the first bank to offer completely digital Blocked Account* along with a complimentary Current Account
• The account comes with a VISA debit card as well

Mumbai: ICICI Bank Germany, a part of ICICI Bank, today announced the launch of a digital and instant Blocked Account* for students aspiring to study in Germany. A Blocked Account* is a special type of account wherein students are required to keep a certain amount of money in order to get a Balance Confirmation Certificate (BCC), a mandatory requirement for a student Visa in Germany. Only banks, which are authorized by German Federal Foreign Office, can offer the Blocked Account*.

The new ‘ICICI Bank Germany Student Blocked Account’ enables students to deposit the required amount with the Bank and get the BCC. Students can open this account online from the comfort of their homes in India before their Visa applications, without visiting an ICICI Bank branch. This account offers students a complimentary Current Account, that they can use in Germany. It also comes with a VISA debit card which can be used anywhere in the world. The debit card will be delivered to the students at their address in India before they leave for Germany.

ICICI Bank Germany is the first bank to offer the dual advantage of a completely digital ‘Blocked Account’ and a complimentary Current Account to students. It is a marked improvement from the existing industry practice where students typically open these accounts with two different banking entities and can open the Current Account only after reaching Germany. The Current Account is equivalent to a savings account in India, and can be used by students for their daily banking requirements in Germany.

Speaking about the launch, Mr. Sriram H. Iyer, Head- International Banking Group, ICICI Bank, said, “At ICICI Bank, we recognize the unique banking requirements of students, and we always endeavor to provide them. ICICI Bank Germany has been servicing the Indian diaspora for more than a decade. ‘ICICI Bank Germany Student Blocked Account’ is the first account that offers the dual advantage of a ‘Blocked Account’ along with a complimentary Current Account to the Indian students. It also offers a VISA debit card which can be used worldwide.

Germany is a popular destination for Indian students looking to pursue higher studies. ‘ICICI Bank Germany Student Blocked Account’ helps them apply for a ‘Blocked Account’ and get the BCC, a prerequisite for applying for a German Visa. The Current Account and the VISA debit card help them to take care of their day-to-day banking requirements in Germany. Students and their parents in India have a strong connect with ICICI Bank. We look forward to serving the needs of the students while they study in Germany, and their parents in India for facilitating their overseas banking needs in a convenient, safe and secure manner."

Key benefits of the blocked account:

• Fully digital process: Students can open the ‘Blocked Account’ in a complete digital and seamless manner; and get the account number instantly
• Debit card: Students receive the VISA debit card before they leave for Germany
• Complimentary local current account: Students get an additional Current Account as a local bank account for their daily banking requirements in Germany
• Available 24X7: The facility of digitally opening a ‘Blocked Account’ is available 24X7

Aspirants can apply for the ‘ICICI Bank Germany Student Blocked Account’ in four easy steps:

1. Registration with ICICI Bank Germany: Students can register themselves on ICICI Bank Germany through the website https://www.icicibank.de/. Once that is done, an email with an authentication link will be shared with them. This activates the application portal and a secured mailbox for receiving further instructions, updates and BCC.
2. Submission of online application: Students can fill in the details in the online application form, upload their Passport copy, address proof and the college admission/acceptance letter and get a ‘Blocked Account’ number instantly.
3. Funding the account: Students can transfer funds to their ‘Blocked Account’ with the pre-requisite amount immediately using any bank account in India and within one day of receipt of funds, they get the BCC in their secured mailbox and the VISA debit card dispatched to their address in India.
4. Activation of the local bank account/ current account: Students can complete a quick online video identification process and update the local address after reaching Germany. This will activate their local bank account and VISA debit card for their local banking requirements in Germany.

To know more about ‘ICICI Bank Germany Student Blocked Account’ application process, please visit https://www.icicibank.de/germany/hello-europe/blocked-account.html and watch a quick video: https://youtu.be/1M3Vd1zthYo

For any support before or during application, students can reach at blockedaccount@icicibank.com or call the customer care number at +91 40 7140 3336.

About ICICI Bank UK PLC: ICICI Bank UK PLC, a wholly owned subsidiary of ICICI Bank Limited, is a full-fledged bank with an asset base of approximately USD 2.85 billion as at June 30, 2021. It offers a comprehensive suite of financial solutions to cater to personal, commercial, corporate, investment, treasury and trade requirements.

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹15,72,772 crore at June 30, 2021. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 15 countries, including India.

ICICI Bank launches ‘Salute Doctors’, a comprehensive banking solution for doctors

Offers medical equipment loan up to Rs. 10 crore

Provides banking as well as value-added services

Doctors can avail customized solutions for various life-stages

Mumbai: ICICI Bank today announced the launch of the country’s most comprehensive banking solutions for medical doctors. Called ‘Salute Doctors’, it provides customized banking as well as value-added services for every doctor, beginning from a medical student to a senior medical consultant to an owner of a hospital or a clinic. The solutions, which are mostly digital and instant, are designed to take care of the professional, business, lifestyle and wealth banking requirements of doctors and their families. The initiative is powered by ICICI STACK, a digital banking platform with nearly 500 services that helps customers of the Bank to avail the services digitally and seamlessly.

‘Salute Doctors’ provides doctors with an array of innovative services. One, a range of premium savings and current accounts for personal and business banking. Two, specially curated suite of loans for home, auto, personal, education, medical equipment, setting up clinic or hospital and business. Three, industry first value added services, which are offered in association with partners, to help doctors fulfill their lifestyle needs, manage clinic/hospital better and digitally, get updates on latest medical developments, take care of accounting needs, expand and procure medical supplies.

Mr. Pranav Mishra, Head- Liabilities, ICICI Bank said -

We, at ICICI Bank, hold doctors in high esteem for their selfless service to society. Today on National Doctor’s Day, we have launched ‘Salute Doctors’ banking solutions to express gratitude and salute our lifesavers for their service and sacrifice. This proposition is an extension of ‘ICICI STACK’ which we launched a year ago to offer all banking services digitally from one platform. We have done extensive research on doctors across various stages of their career-- right from medical students, senior doctors and owners of hospitals/ clinics- to understand their banking needs.

Based on our research insights, we have created a 360-degree proposition that brings in a host of instant and digital services, customized for doctors at different stages of their career. For example. We have specially curated education loan for doctors, loans for medical equipment for new purchases and refurbished medical equipments, loan for purchase, construction or expansion of clinic or hospital business loans for working capital requirement of clinic and hospital as well as personal loan for all their other needs. We have designed a Business Credit Card and Expressions Debit Card for their business and personal expenses respectively. Further, we are offering value added services, which are first in the industry. We believe that this specially curated holistic proposition helps doctors in our country to fulfill their personal and professional banking requirements.”

The main offerings of ‘Salute Doctors’ are:

1. Premium bank accounts for personal and business requirement:
   
   
• Salute Doctors Savings Account:
  
  This premium savings account is available in three variants- Wealth, Platinum and Gold. Some of the distinctive features of the account that provide enhanced convenience to the doctors are, an unique Expressions Debit Card with an image selected by the customer and ‘Dr.’ embossed on it; a dedicated Relationship Manager; flexibility to manage balance requirements across savings account, fixed deposit and current account; solutions for digital investment solutions, real-estate remittances and insurance requirements for personal and professional needs. The account comes with ‘Family Banking’ benefit, wherein the doctors can extend their premium banking services to the family members. Additionally, doctors are offered a set of exclusive offers for their professional needs and to spend quality time with family. Doctors can also apply for premium collection of ICICI Bank Credit Cards.
  
  
• Salute Doctors Current Account:
  
  Doctors are offered premium current account in three variants- Platinum, Gold and Silver. They can apply online through the Bank’s website or InstaBIZ app. Some of the benefits of this account include dedicated Relationship Manager, selecting account number of choice, no requirement of keeping a minimum balance in the account for the first year if the customer is transacting digitally, and convenience of ‘no cheque-bounce charges’ for third party cheques. Doctors also get the Bank’s ‘EazyPay’ facility to accept instant cashless payments through POS/QR code and ‘Connected Banking’ platform for automated payments and collections with instant bank reconciliation. They get free subscription of ZOHO Books, an accounting software to carry out their accounts. Along with all this, doctors get to experience the Bank’s state-of-the-art InstaBIZ app with 115 business banking services and Corporate Internet Banking (CIB) platform for their business banking requirement and to carry out seamless digital transactions. Doctors can also apply for a Business Credit Card which has the feature of segregating personal and business spends; and has name of the hospital or clinic embossed on it.
  
  
2. Specially curated suite of loans:
   
   
• Mortgage loans:
  
  Doctors, including who are not existing customers of the Bank, can avail loan upto Rs. 5 crore for the range of mortgage loans like home loan, home loan balance transfer, loan against property and loan for purchase, construction or expansion of clinic or hospital. They can apply digitally for the mortgage loans through the Bank’s website. Pre-approved customers of the Bank have the convenience of getting sanction letter instantly for loans upto Rs. 10 crore.
  
  
• Medical equipment loan:
  
  This is available for all doctors, no matter they are customers of the Bank or not. They can avail the medical equipment loan upto Rs. 10 crore to purchase new and refurbished medical equipment. They can SMS HCF to 567677 to avail this facility.
  
  
• Business loan: Doctors get business loan up to Rs. 40 lakh without collateral for their working capital needs or other business related expenses like refurbishing of clinic/ hospital and purchase of medical equipment. Pre-approved customers of the Bank get instant disbursal of the loan amount.
  
  
• Personal loan:
  
  The Bank offers digital personal loan up to Rs. 25 lakh with simple online documentation and quick processing. Pre-approved customers of the Bank can avail this loan digitally through iMobile Pay app or the internet banking platform and get instant disbursal. Other customers can apply at branch with a digital led process through tablets and get the disbursal within few hours.
  
  
• Education loan:
  
  The Bank offers industry first medical education loan up to Rs. 1 crore called ‘Doctor Select iSMART Education Loan’. Doctors can avail this loan for themselves or their children's studies in medical colleges in India or overseas. They can apply online through the website. Pre-approved customers of the Bank can apply through the internet banking platform and get instant sanction letter.
  
  
• Auto loan:
  
  The Bank offers auto loan up to Rs. 50 lakh for doctors. The Bank has curated a special repayment scheme called ‘Flexi EMI’, which provides customers the flexibility of selecting low EMI for first six months; thereafter the EMI is higher. Pre-approved customers of the Bank can apply online through internet banking or iMobile Pay app and get instant sanction letter. Other customers can avail the auto loan at branch or dealers in a fully digital application process through tablets.
  
  
3. Industry first value added services:
   
   
• Business assistance concierge:
  
  The Bank in partnership with a leading support-solutions provider, offers doctors an array of services to set-up their clinics. Doctors get discounted prices on services like staffing, clinic management, material procurement, travel related services, taxation, security solutions among others through a dedicated concierge helpline or via an email or an app.
  
  
• Online clinic set-up:
  
  The Bank has tied up with an expert digital concierge company to help doctors create online profile of their clinic or hospital. It offers a one-stop solution ranging from website development, online video consultation, chat based consultancy, prescription management and other digital assistance. ICICI Bank customers are offered the digital services at an exclusive discounted price by a partner through a dedicated helpdesk, email and an enquiry form.
  
  
• Additional privileges: In partnership with multiple companies, the Bank offers discount for online procurement of medical equipment from leading medical supplies e-commerce platform and provides exclusive access to various health and medical journals. Doctors who open Wealth Savings Account, get complimentary Taj Epicure membership and also get a dedicated concierge desk for all their lifestyle requirements.

Doctors can avail all the specially curated services of ‘Salute Doctors’, whether or not ICICI Bank customer. Please visit, https://www.icicibank.com/Personal-Banking/account-deposit/doctors-savings-account/index.page