Icici Lombard General Insurance Co. Ltd. · NSE:ICICIGI
Icici Lombard General Insurance — Investor Day (January 2021)
34 slides from Icici Lombard General Insurance's investor day presentation, Jan 25, 2021
Slide 1: Digital Day
9 ICICI ELombard Digital Day January 25, 2021
Slide 2: The Indian insurance market continues to evolve
The Indian insurance market continues to evolve Fast Growing Industry Rising customer expectations Need for innovation Low insurance penetration Personalized experience Rising disposable incomes and solutions Increasing smartphone & Instant gratification and internet penetration Fast growi
Slide 3: Consumer preferences are changing
Consumer preferences are changing* Self- Social directed 80% of consumers would switch for more “personalized services” 57% willing to abandon purchase if not receiving “immediate response” Experiential 67% of consumers consider it “extremely Connected important” to be able to buy what they want, wh
Slide 4: Enabled by new age technologies
Enabled by new age technologies Big data & analytics Internet of things Consolidated view of all data and IoT space is heading towards generating value-creating insights greater maturity – telematics and via predictive models connected health Robotic process automation Cognitive services Automation
Slide 5: Digital solutions @ ICICI Lombard
Digital solutions @ ICICI Lombard 5
Slide 6: A quick glimpse of our solutions
A quick glimpse of our solutions
Slide 7: We build innovative solutions …
We build innovative solutions … Digital @ Scale Transformational innovation at scale Disrupt Transformational Impact Diffuse Innovation beginning to scale up Experiment Incremental innovation 7
Slide 8: … to engage with customers …
… to engage with customers … Reactive Customer Preparedness Customer Connect Proactive Empathy Assistive Transaction DIY Customer Empowerment 8
Slide 9: … across their journeys
… across their journeys Manage Process Engage Purchase Service Renew risk claims Partner Simplify Proactive Convenience Do It Yourself Connect Connected Ease of buying Manage risk & Simpler user Consumer Engaged throughout journey minimize loss experience empowerment customer 9
Slide 10: Engage
Engage Engage Datalake Drone iPartner Robo calling Nysa Instapolicy Telematics Phrasor Fraud Al Diet tracker ‘engines ello Doctor “ferent ior, COGNITIVE BOT irecre app Heath advisor NSUTe APP Breakin Al Whatsapp Healthscore™'* Health ee wackne etaspect | LTa keCa re icici @.Lombard Nibhaye Vaade 10
Slide 11: ILTakeCare app – Custodian of care platform
ILTakeCare app – Custodian of care platform Engage Enrolment 3,40,000+ Out patient Downloads Informatics services Health 16,00,000+ 3,00,000+ Claims Check-up Logins* Registrations 2,50,000+ 12.1 % Pharmacy Health Policy additions DAU : MAU ratio Records 5,000+ 16,000+ Tele-consults HRAs Activity Pro
Slide 12: ILTakeCare - Digital Ecosystem
Engage ILTakeCare - Digital Ecosystem 12
Slide 13: Purchase
A BuauD Purchase Purchase Vehicle tracking Health print Phrasor MyRA Nysa ee loT Telematics Datalake Instapolicy Freshlook Travel advisor API 2.0 Health advisor Insure app Breakin Al “tecihai SME Digital cietracer Whatsapp Cognitive BOT — Robo calling Fraud Al S phi IX Hello Doctor Drone l Pa rtner
Slide 14: MyRA – BOT for SME Policy & Endorsement
MyRA – BOT for SME Policy & Endorsement Purchase Quote Policy Endorsement • Empowering • Auto assignment • Automated partners with to UW endorsement instant quote • End-to-end • Pricing decisions • Channel digital process enablement 91% SME policies were issued digitally in Dec 2020 as compared to 8
Slide 15: SME Digital for young entrepreneurs
SME Digital for young entrepreneurs Purchase Zoya has started a new business and wants to insure her shipments. She goes to the website and gets a quote within seconds SME Digital portal launched in December 2020 allows startups and MSMEs to understand commercial insurance products, buy policies and
Slide 16: Nysa: New digital portal for distribution partners
Purchase Nysa: New digital portal for distribution partners Agent Service & Buying Flow Payment dashboard Claims • Web & mobile user • Partner with • Comprehensive • Rich endorsement interface payment specialist agent dashboard & claims module • Pre-fill 70% of fields • New ‘Lombard Pay’ • Multi-lin
Slide 17: Manage Risk
Manage Risk Manage risk API 2.0 Whatsapp SME Digital Insure app MyRA Health Al iPartner Hello Doctor Diet tracker Instaspect Soni Cognitive BOT ILTakeCare Nat Ca Instapolicy phinx Heatnscore Weahicle tracking Drone Hydrant loT "ene nortnysa Telematics Fraud Al Robo callin . ~poshlook Breakin Al voic
Slide 18: Holistic Risk Management Solutions
Manage risk Holistic Risk Management Solutions Impact Property Loss Prevention GPS Based Cargo Exercise for Risk Improvement Tracking Solutions 2500+ 500+ Corporates ODCs IOT To monitor Hydrant serviced Managed ODC Movement in difficult terrain Effectiveness 1600+ Marine Loss Control End-2-End AI Ba
Slide 19: Leveraging IoT to help customers manage their supply chain
Leveraging IoT to help customers manage their supply chain Manage risk 2014 2018 2019 2020 GPS based International Integration with Temperature sensitive cargo vehicle tracking Container tracking Indian Railways eg Vaccine movement Creating data driven resource optimization Management dashboard for
Slide 20: Virtual Risk Assessment
Manage risk Virtual Risk Assessment ABC Warehouse Assam Automated Risk Report ICICI Lombard, Mumbai • AI based risk recommendation • Risk Benchmarking 3.6 • Claims related to Gaps Time savings of 3-4 days per assessment in the risk 20
Slide 21: Service
pnaa Be Service Service Fraud Al Sphinx Ph ' steep Telematics Freshlook rasor yorant lol SME Digital Insure app Healthscore Health advisor Health print N ysa Hello Doctor Vericie tracking VWWhatsapp iPartner Nat cat noe callin Dict tacker M y RA relepolioy Datalake Breakin Al : API 2.0 Health Al Dro
Slide 22: Convenience of DIY for group health endorsement
Service Convenience of DIY for group health endorsement Platform Underwriting Dashboard • Interface for channel • Auto-assignment • Automated & customer for UW deviations comprehensive dashboards • Real-time • Instant delivery of endorsements e-cards The time taken to process group health endorsemen
Slide 23: Leveraging digital in retail endorsements
Service Leveraging digital in retail endorsements Category Channel Solutions • Nil vs non-nil • Traditionally • Movement to DIY endorsements comes through platforms call center and • Type of physical channels • Move to STP and endorsement varies real-time by product endorsements 45% of agency motor
Slide 24: Process claims
Process claims Process claims 24
Slide 25: Instaspect: Virtual Motor Survey
Instaspect: Virtual Motor Survey Process claims 672 CSMs and 4824 Garages enabled Average 1200 surveys daily 15K+ Photos uploaded daily 41% of motor OD claims were serviced through the Instaspect solution in December 2020 as compared to 25% in March 2020
Slide 26: Health AI: Cashless authorization in 90 seconds
Health AI: Cashless authorization in 90 seconds Process claims Auto inward of the Case details validated ML algorithms check request by the system admissibility + IL customer met with an accident and was admitted Hospital submits in hospital at cashless request at 12:30 am 12:57 am Auto tagging of c
Slide 27: Fraud AI: Identification at claim intimation
Process claims Fraud AI: Identification at claim intimation Fraud detection & decision matrix No Risk No investigation Low Risk Investigation on doctor’s perusal Medium Risk Machine learning algorithms High Risk Mandatory help in triggering claims for Very High Risk investigation investigation in
Slide 28: Renew
YO Renew Renew Nat cat Telematics Travel advisor Healthscore Vehicle tracking Health advisor Diet tracker | n S U re a p p sprin FYESAIOOK reuse VOICE BOT Sie vista MyRA Cognitive BOT mnsissea API 2.0 Breakin Al iPartner®°s:2 Robo calling Health Al Datalake Hello Doctor ILTakeCare Instapolicy Hydran
Slide 29: Ninja CRM: Scaling distribution with enhanced efficiency
Ninja CRM: Scaling distribution with enhanced efficiency Renew Core Lead Customer application Dashboard management engagement • Multi-lingual • RPA to pull data • Comprehensive • Customer DIY Android & iOS app directly from OEM real-time DIY renewal process portals dashboards • Automated lead • Auto
Slide 30: Proactive Voice BOT based renewals
Renew Proactive Voice BOT based renewals Orchestrates and measures customer experiences using BOT built-in capabilities Predictive engagement Intelligent AI BOT Bring in agents at the right moment Fast, personalized service Uniform user experience 30
Slide 31: Culture of Innovation @ ICICI Lombard
Culture of Innovation @ ICICI Lombard Digital @ Scale Solutions that scale up across our business Disrupt Use Data Science and AI to build disruptive solutions Diffuse Set up micro- enterprises for development and Experiment adoption of innovation Agile teams creating new solutions on cloud 31
Slide 32: Innovation @IL continues across customer journeys
Innovation @IL continues across customer journeys It is not the strongest of the species that survives, nor the most intelligent Manage Process that survives. It is the Engage Purchase risk Service claims Renew one that is the most adaptable to change Charles Darwin 32
Slide 33: Thank you
9 ICICI ELombard Thank you
Slide 34: Safe harbor
Safe harbor Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will' , 'would' , ‘indicating’ , ‘expected to’ etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These for
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