ICICI Lombard, one of India's leading insurance providers, showcased its digital ecosystem at Analyst Day 2024. The event highlighted the company's commitment to innovation and technology-driven solutions across various product categories.

Stressing on Cloud, Data, AI/ML, and IoT-led digital transformation, ICICI Lombard reflected how these advancements have enhanced the agility, efficiency, reliability, and security of its service delivery to customers. The organisation revealed that this transformation has resulted in a remarkable 10 times increase in response time and a 30 per cent improvement in the productivity of its customer support team.

A key highlight of the event was the introduction of the humanised avatar of RIA (Responsive Intelligent Agent), an NLP-enabled chatbot powered by generative AI. The advanced chatbot assists customers in resolving queries related to policy downloads, purchases, renewals, and claim statuses, among other aspects.

Using innovative Object Recognition Technology, ICICI Lombard showcased milestones, distribution reach, alliances, partnerships, and salient features across different product categories through 3D cutouts. The event also provided attendees with an immersive experience using Virtual Reality, bringing real-life customer stories to life.

These stories demonstrated the ease of raising motor claims through the IL Take Care App and the convenience of 90-second cashless health authorizations under the 'Anywhere Cashless' scheme.

Moreover, ICICI Lombard highlighted its IoT, telematics, and data-led preventive insurance solutions for marine insurance, including sensors for temperature, GPS, fuel, and e-locks. The company showcased its commitment to innovation through three booths focusing on its flagship mobile app ILTakeCare, RIA for DIY chat and voice-based servicing, and AI/Gen AI capabilities.

By deviating from traditional formats and investing in immersive experiences for analysts, ICICI Lombard has differentiated itself in the BFSI category. This marks the second consecutive year that the company has showcased its technological prowess in a disruptive manner, following last year's innovative displays featuring 3D anamorphic walls and projection devices.