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ICICI Lombard Awarded the Asia Insurance Technology Award for "Best Mobile Application"

MUMBAI, December 5, 2012 /PRNewswire/ --

ICICI Lombard General Insurance Company Ltd., the country's largest private sector general insurance company, has been awarded the prestigious Asia Insurance Technology Award for the "Best Mobile Application" in the non-life insurance sector. This award recognises those insurers who exhibit true innovation in the use of mobile technology. ICICI Lombard General Insurance was bestowed the award for implementing the 'Enterprise Mobility Initiative', having launched several mobility applications targeting diverse stakeholders including end customers, agents, claims surveyors, and internal employees, thus providing quick service and information access at the touch of a button.

The winners for Asia Insurance Technology Award 2012 were chosen from a highly competitive field that included nominations from India, Japan, Sri Lanka, Singapore, Hong Kong, China, Australia and New Zealand. Commenting on the achievement, Mr. Eswaranatarajan N, Chief-Operations & Technology, ICICI Lombard GIC Ltd. said, "We are honoured to have received the award for 'Best Application Award' from Asia Insurance Review and Celent. At ICICI Lombard, customer-centric product innovation remains an imperative for sustaining growth. By migrating our services to the technology platform, we have been able to enhance our service delivery both in terms of reducing the number of processes as well as the time required for settling claims. We shall strive to continuously set new industry benchmarks by bringing in best practices and enhancing our products, processes and service deliverables."

About: Asia Insurance Technology Award

Asia Insurance Technology Awards recognises excellence and innovation in the use of technology within the insurance industry. The second Asia Insurance Technology Award was given on the Asia Insurance CIO Summit on 9 Nov 2012 in Marina Mandarin Singapore.

Asia Insurance Technology Awards is organised by Celent together with Asia Insurance Review. Twenty nine nominations were received this year from India, Japan, South Korea, Sri Lanka, Singapore, Hong Kong, China, Australia and New Zealand, and eight winners were selected by Celent AITA evaluation team consisting of analysts from Asia, Europe and North America.

About: ICICI Lombard General Insurance Company Ltd.

ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank Limited, India's second largest bank with 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 laky 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.

ICICI Lombard allows instant policy issuance and renewal through its website for all retail insurance products including Car Insurance, International Travel Insurance, Two Wheeler Insurance, Home Insurance and Health Insurance in India. There are multiple payment options available including internet banking, credit card, debit card and cash card.

For more details about the company, log on to the website

Primary Media Contact: Girish J Kalra, [email protected], 91-9167226767

Secondary Media Contact: Sulakshna Mukherjee, [email protected], 91-22-61961451

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