ICICI Lombard introduces "Photo Quote" feature

In a bid to increase its market-share in the automobile insurance sector, ICICI Lombard has introduced a new feature called Photo Quote. Under this feature, the company will send motor policy renewal quotes if customers send a picture of their old policy document using the ICICI Lombard mobile app.

ICICI Lombard claims that once the customer sends the picture to the company, it will submit a detailed quote within a few minutes via an automated message. The details of the customer and vehicle will be pre-populated. If the customer agrees to the quote, he can pay the amount. He will not have to spend time filling up forms.

According to ICICI Lombard, due to the use of digital technology, 85% of insurance policies are issued to customers without them physically stepping into a branch of the company.

ICICI Lombard General Insurance has issued over 13.87 million policies and settled over 3.41 million claims as on March 31, 2015.

Source: mydigitalfc.com