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Business EconomyPosted at: Jun 27 2016 6:30PM


ICICI Lombard long-term 2-wheeler insurance crosses 5 lakh policy mark

New Delhi, Jun 27 (UNI) Long-term two wheeler insurance launched by ICICI Lombard, one of India’s leading General Insurance companies, has crossed the 500,000 plus policy mark.
ICICI Lombard was among the first companies to have launched the product in India.
The product allows two wheeler owners to purchase a policy with a longer duration cover of two or three years instead of the conventional annual renewal duration.
According to a statement issued here by ICICI Lombard, the milestone achieved in the very first year of product launch proves that an innovative yet simple product can go a long way in reinvigorating a category.
Speaking on the occasion, Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance Company Ltd. said, "We are excited to have achieved this milestone of 5 lakh policies in the first year of launch of the Long Term Two Wheeler Insurance product. I am sure that this innovative yet simple product backed by our distribution muscle and digital prowess will significantly address the issue of 60-70 per cent two wheelers currently plying on roads without insurance. Being an industry leader, we shall continue to lead the curve in terms of introducing innovative solutions for the benefit of Indian consumers.”
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