ICICI Lombard General Insurance, the leading Private sector General Insurance Company, after successfully introducing 'Red Carpet', a unique and exclusive claims service initiative in the motor insurance segment, as a pilot project, has now, rolled out the initiative across the country.

Any ICICI Lombard customer insuring 50 vehicles is classified as a 'Red Carpet' customer and is a offered unique Red Carpet service proposition, which gives ease in terms of documentation andreduction in claimprocesses. In addition, ICICI Lombard has introduced a 24X7 toll free helpline, with customers across the country dialing '1800 209 8888' to seek assistance in time of distress.

The 'Red Carpet' service initiative entails relaxation in spot survey in case of a claim by allowing shifting of the vehicle from the loss location in case the ICICI Lombard surveyor does not turn up within 6 hours and offer full claim without any deduction. ICICI Lombard would make advance payment for claims over Rs. one lakh, by paying 50% of assessed liability upfront, with dues settled immediately after final invoice is raised.

The other service initiatives include Free Health and Eye Check-up camps, Driver Trainings on 'Am I a safe driver', exclusive access to national highway cashless network and scheduled visits to customers to collect and assess feedback and periodic sharing of claims MIS. The numbers of cashless garages are also continuously increased, especially on the national highways.

Speaking on the initiative, Mr. Eshwaranatrajan, Head – Motor Insurance, ICICI Lombard General Insurance said: "About 20 % of our valued clientele have already experienced our service levels offered under the 'Red Carpet '. The whole objective is to enable the customer to get the claim settled for his damaged vehicle at the earliest and with minimum documentation. We shall be enhancing our overall service, with special thrust for the Commercial Vehicle segment, which is considered the cornerstone for a rapidly developing economy like India."

- End -

About ICICI Lombard General Insurance

ICICI Lombard is a 74:26 joint venture between ICICI Bank Limited, India's second largest bank with $79 billion in assets and Fairfax Financial Holdings Limited, a Canada based $26 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.

ICICI Lombard is now the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 17,266 million for the half year ended September 30, 2007 with a market share of 12% and compounded annual growth rate of over 45% in the last two years.

ICICI Lombard was awarded the 'General Insurance Company of the Year' at the 11th Asia Insurance Industry Awards. The Company also won the NDTV Profit Business Leadership Award 2007 and was adjudged as the most Customer Responsive Company in the Insurance category at the Economic Times Avaya GlobalConnect Customer Responsiveness Award 2006. More to its credit, it has the Gold Shield for "Excellence in Financial Reporting" by the ICAI (Institute of Chartered Accountants of India) for the year ended March 31, 2006.

The company has been assigned a domestic rating of iAAA by ICRA (an associate of Moody's Investors Service) for highest claim paying ability and a fundamentally strong position. The prospect of meeting policyholders' obligation is the best.

The company presently has 5,150 employees in 245 offices spread across 190 locations. In the financial year ended March 31, 2007, the company issued over 3.14 million policies across India and serviced over 642,000 claims. The company has a claim disposal ratio of 96% (percentage of claims settled against claims reported) as on March 31, 2007.