ICICI Lombard Unveils AI-Powered Health Insurance Product 'Elevate'

The AI engine tailors policy recommendations based on customer inputs, ensuring coverage aligns with individual health and financial needs.

ICICI Lombard, one of India's leading private general insurers, has launched an AI-powered health insurance product named 'Elevate'.

This new offering is designed to meet the demands of modern lifestyles, provide protection against unexpected medical emergencies, and counter the effects of rising medical costs.

Sharing thoughts, Anand Singhi, chief of Retail and Government at ICICI Lombard, said, "With 'Elevate', we are not just launching another health insurance product; we are pioneering a new era in health insurance."

Per the insurance company, the AI-powered engine behind 'Elevate' ensures a personalized experience that caters specifically to the diverse needs of our customers along with offering advanced features such as 'Infinite Care' and 'Power Booster'.

Features of 'Elevate'

Per the company, 'Elevate' is designed to adapt to the fast-evolving healthcare landscape, offering customized plans emphasizing comprehensive coverage and flexibility.

Its "Infinite Sum Insured" feature offers continuous protection throughout the policy term along with eliminating concerns over limited sum insured amounts.

The "Infinite Claim Amount" add-on offers extensive financial security by allowing an infinite claim amount for a one-time claim during the policy's lifetime, removing the constraints typically imposed by the sum insured. This feature ensures that policyholders are adequately covered for significant medical expenses without worrying about policy limits.

Moreover, with the "Power Booster Add-on" feature, customers are awarded a 100% cumulative bonus each year. It also ensures enhanced protection offering added financial security.

The "Reset Benefit" feature provides unlimited coverage resets, ensuring protection even if multiple claims are filed within the policy term. This allows policyholders to maintain robust coverage without concerns about depleting their benefits.

Additionally, the "Infinite Assurance" add-on allows individuals with pre-existing conditions, such as asthma, diabetes, hypertension, hyperlipidemia, and obesity, to start benefiting from the policy after just 30 days, in contrast to the typical three-year waiting period. This feature offers timely access to necessary coverage, promoting better health outcomes and financial security.

AI-Driven Personalization

'Elevate' leverages AI to tailor policies to individual needs. The AI engine analyzes customer inputs to recommend optimal coverage, ensuring each policy uniquely suits the user's specific health and financial requirements.

The company suggests that this bespoke approach to health insurance makes 'Elevate' more adaptable and responsive to its customers' varied needs.

In addition to its core features, 'Elevate' includes 15 built-in covers and multiple customization options.

It covers 20 critical illnesses, personal accidents, maternity and newborn care, accommodation and travel benefits, preventive care, inflation protection, air ambulance services, and personalized home care, among others.