ICICI Lombard bets on technology to improve underwriting
In short
ICICI Lombard is using technology to try to lower costs, grow faster and improve how it prices risk.
The company’s combined ratio is still above 100%, so profits are under pressure. The report does not say which tech changes will work or when results will improve.
What the reporting says
ICICI Lombard is betting on technology to cut costs, accelerate growth and improve underwriting, according to a Mint Markets summary. The reported concern is that the insurer’s combined ratio remains above 100%, which puts pressure on profitability despite the digital push. The reporting does not say which tools are being deployed or when the benefits may show up.
Why it matters
ICICI Lombard is reported to be using technology to improve underwriting and reduce costs while trying to support growth. The main challenge highlighted is a combined ratio above 100%, which suggests the insurer is still spending more on claims and expenses than it earns in premiums. The reporting does not specify the exact tech initiatives or the timing of any profit improvement.