ICICI Lombard, a private general insurance company, on Tuesday announced that it has entered into a partnership with Policybazaar, an insurance platform. The strategic partnership brings together the comprehensive product portfolio of ICICI Lombard and the wide reach of Policybazaar, promising accessible insurance solutions for Indian consumers, the company said in an exchange filing.
This collaboration opens doors to nearly 10 million customers, introducing them to a broad spectrum of insurance products ranging from motor, health, and travel to home and business insurance. The partnership extends across Policybazaar’s diverse business lines, including its retail platform policybazaar.com, PB for Business catering to corporates, and PB Partners focusing on channel partners.
This integration is expected to enhance insurance distribution, making comprehensive coverage accessible to every corner of the country through the convenience of a seamless digital platform.
Anand Singhi, Chief – Retail & Government Business at ICICI Lombard, expressed his enthusiasm for the partnership, stating, “On the auspicious occasion of Gudi Padwa, we are pleased to join forces with Policybazaar to offer our innovative insurance solutions to customers.”
He further stated that the company aims to democratise insurance in India by offering consumers an accessible and comprehensive platform to purchase insurance seamlessly.
Sarbvir Singh, Joint Group CEO of PB Fintech, stated, “This partnership will bring ICICI Lombard’s exceptional insurance products and customer experience to our customers. It also builds on our shared commitment to driving the vision of “Insurance for All by 2047” in the country.”