ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India's second largest bank with consolidated total assets of over USD 91 billion at March 31, 2012 and Fairfax Financial Holdings Limited, a Canada based USD 30 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. 5,358 crore for the year ended March 31, 2012. The company issued over 76 lakh policies and settled over 44 lakh claims and has a claim disposal ratio of 99% (percentage of claims settled against claims reported) as on March 31, 2012.
The company has been conferred the "Golden Peacock Award 2012" for Corporate Social Responsibility, "Golden Peacock Innovation Award-2010" for Rashtriya Swasthya Bima Yojana. It also received the "Skoch Financial Inclusion Award-2011" in the micro finance category. The company has been conferred with 'NASSCOM - CNBC TV18 IT User Award 2010' for Best Technology Implementation in the Insurance Sector. It has been awarded CNBC Awaaz Consumer Award 2010 for being the 'most preferred brand' in the General Insurance category. ICICI Lombard Auto Insurance has been rated highest in customer satisfaction by J.D. Power Asia Pacific in India among 11 auto insurance providers. It was awarded Customer and Brand Loyalty award in the 'Insurance Sector - Non-Life' at the 3rd Loyalty awards, 2010 and the 'General Insurance Company of the Year' at the 11th Asia Insurance Industry Awards. The company also won the NDTV Profit Business Leadership Award 2007 and was adjudged as the most Customer Responsive Company in the Insurance category at the Economic Times Avaya Global Connect Customer Responsiveness Award 2006. It has the Gold Shield for 'Excellence in Financial Reporting' by the ICAI (Institute of Chartered Accountants of India) for the year ended March 31, 2006.
ICICI Lombard allows instant policy issuance and renewal through its website www.icicilombard.com for all retail insurance products including Car Insurance, Health Insurance, Travel Insurance, Two Wheeler Insurance and Home Insurance. There are multiple payment options available including internet banking, credit card, debit card and cash card.
ICICI Lombard is a 74:26 joint venture between ICICI Bank Limited, India’s second largest bank with USD 75 billion in assets and Fairfax Financial Holdings Limited, a Canada based USD 27 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.
ICICI Bank is India's second-largest bank. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one of Canada's oldest property and casualty insurers. It is a leading insurance management company responsible for providing insurance management services for all of the Lombard group's commercial, personal, and specialized insurance companies. Lombard Canada Ltd. has its head office in Toronto, Canada and has annual sales in excess of $977 million and is a wholly owned subsidiary of Fairfax Financial Holdings Limited (FFH on Toronto Stock Exchange). It has received an A- rating from A.M. Best Company and claims paying ability received an A+ rating from Duff & Phelps Credit Rating Co.
Corporate Social Responsibility (CSR) is a conscious approach adopted by an organization to integrate the social, ethical and environmental concerns of the society and participate actively to encourage the community development and growth, regardless of legality. ICICI Lombard GIC LTD understands the responsibilities of being a corporate citizen and values the importance of the activities done under CSR.
ICICI Lombard has been able to seamlessly integrate the social, ethical and environmental concerns of the society in its business model. It has proactively participated in community well-being and growth efforts with its employees contributing to various philanthropic initiatives under the aegis of ICICI Foundation.
Recognizing every ICICI Lombard employee as a powerful agent of positive change, the organisation offers them an opportunity to ideate and participate in a planned social community service activity as individual volunteers. Recently, ICICI Lombard launched an employee driven CSR initiative - "Giving beyond the Workplace Campaign". With the focus to enhance the quality of health among children belonging to the underprivileged section of the society, employees of ICICI Lombard got together to organize free health camps in municipal school across cities with the help of doctors from reputed hospitals. The employee engagement programme benefited around 12,400 underprivileged children from 67 municipal schools at 64 locations through free dental and health check up camps.
Our recent initiative amongst other activities is to help provide free nutritional support to underprivileged children studying in Government & Municipal schools.
Every year our organization distributes calendars to its different stakeholders. For Calendar 2010, we came up with an innovative idea to extend this proposition through which we can reach out to these children and help showcase their talent and instill in them, a sense of pride. The concept of Calender 2010 is to focus on Comprehensive Health Insurance for the Family since our Health Insurance plan stands for providing 'Poorey Parivaar ki Poori Suraksha' and the theme given for the drawing competition was "my family". A drawing competition was conducted in the following schools in Mumbai to promote the mid day meal program:
Smt. Shantidevi B. Banerji Vidyalaya,Tardeo - November 25, 2009
Bhausaheb Hiray Vidyalaya,Prathmik Shala,Tardeo - November 26, 2009
Yusuf MeherAli Vidyalaya,Tardeo - November 26, 2009
The theme of the competition was- "my family" and the children enthusiastically participated in the competition. The ISKON and ICICI Lombard executives selected 12 best paintings to be featured on the annual calendar of 2010. Each month on this Calender features one painting that bears a small description of the painting and the name of the child who painted it. These paintings can be perforated and can also be sent as picture postcards. The calendar carries a note on the aspect of free nutritional support provided to underprivileged children as well. ICICI Lombard supports this cause of mid day meals by giving a certain amount of money for each calendar distributed. Please click on the 'View Gallery' button to view the paintings created by children.