ICICI Lombard Partners with Policybazaar to Expand Insurance Distribution

In a strategic move aimed at enhancing insurance distribution across India, ICICI Lombard General Insurance Company has forged a partnership with Policybazaar. This collaboration aims to leverage Policybazaar’s digital platform to offer a wide range of insurance products to approximately 10 million customers.

Expanding Product Offerings

The collaboration between ICICI Lombard and Policybazaar encompasses various insurance products, including motor insurance, health insurance, travel insurance, home insurance, and business insurance. Through this partnership, these products will be made accessible to retail customers, corporates, and channel partners through Policybazaar’s platforms such as ‘Policybazaar.com’, ‘PB for Business’, and ‘PB Partners’.

Driving Insurance Accessibility

Sarbvir Singh, Joint Group CEO of PB Fintech, expressed excitement about welcoming ICICI Lombard to Policybazaar, emphasizing the shared commitment to making insurance accessible to all by 2047. This collaboration aims to significantly boost insurance distribution, ensuring comprehensive coverage reaches every corner of the nation via a seamless digital platform.

Empowering Consumers

Anand Singhi, Chief – Retail & Government Business of ICICI Lombard, highlighted the importance of digital distribution in enhancing insurance penetration. Through this partnership, ICICI Lombard aims to democratize insurance in India by offering consumers an accessible and comprehensive platform to purchase insurance seamlessly. The goal is to empower nearly 10 million consumers with choice and transparency, aligning with the evolving needs of the market.