AI meets Health Insurance: ICICI Lombard Launches ‘Elevate’ Plan
ICICI Lombard Health Insurance Company has combined with AI to launch its new health insurance plan. Elevate, is the new AI-powered health insurance plan that provides customers with more personalised coverage plans. The Elevate health insurance plan is launched with appealing riders like ‘Infinite Claim amount’ and ‘Infinite Sum Insured’ and seems to be much more beneficial for customers as ICICI Lombard has extended the benefits of Health Insurance.
With the merger with AI, the claim process and approval are expected to be much faster than before. Moreover, AI can customise medical insurance plans to tailor make health insurance plans exactly according to the requirements of people. Elevate health insurance comes with exciting new features such as a Wellness program, BeFit, Claim protector, Inflation Protector, etc.
Infinite Sum Insured: This add-on has impressed the customers and seemed impossible until now. Adding this rider to your Elevate insurance plan provides you with unlimited coverage which eliminates the chances of exhausting your cover.
Infinite Claim Amount: Getting an Infinite claim amount add-on enables you to take infinite cover but in a single claim.
Infinite Cumulative Bonus: This feature gives a 100% cumulative bonus. To access this feature you need to purchase the power booster add-on.
Reset Benefit: This add-on allows you to reset the cover amount infinite times during the period of a policy along with resetting the benefits of a policy.
Jumpstart: Jumpstart reduces the waiting period in cases of pre-existing diseases like Asthma, Diabetes, Hypertension, Obesity, etc. to 30 days.
Wellness Program: This feature motivates you towards a healthy and fit lifestyle by providing a discount of 30% on participating and completing fitness targets.
Inflation Protector: Regardless of the claims you make, your sum insured will increase every year to beat the effect of inflation.
Claim Protector: The claim protector covers non-payable expenses in a claim like gloves and masks. This provides a smooth claim experience and eliminates the miscellaneous expenses you earlier had to make.
All the newly introduced benefits and features have caught the attention of new and existing policyholders.
While all industries are rapidly moving towards AI, ICICI Lombard has now established itself as an insurer in the market which is keen on working towards technological advancement. The response from customers is under watch but utilising AI to this extent has placed ICICI Lombard on a pedestal as a forward-moving futuristic company among the top insurance companies. . Until now AI was helping insurance companies by providing assistance in smartphone-enabled online inspection and via chatbots. The approach towards Elevate, which is the generation of personal health insurance plans has raised the bar of research and development in the insurance industry and will inspire competitors to apply AI to enhance customer experience and would thrive to take it to the next level.
