ICICI Lombard CEO Sanjeev Mantri backs foreign ownership in India
Big news for insurance in India: ICICI Lombard is all for the government's move to let foreign investors fully own insurance companies.
Its CEO, Sanjeev Mantri, says this could mean cheaper insurance "for the common man."
He shared these thoughts at the company's 25th anniversary celebration.
Mantri: agent commissions won't slow growth
Mantri explained that with more foreign money coming in, insurers can reach more people and offer better deals thanks to bigger customer pools and improved efficiency.
He also touched on new rules about agent commissions but reassured that these changes will not slow down growth: the industry is focused on expanding and making insurance more accessible.
ICICI Lombard unveils 25th anniversary innovations
To mark 25 years, ICICI Lombard launched 25 innovations, including pet insurance (paw care), women-focused policies, a digital branch at a Mumbai metro station, time-assured roadside assistance in multiple cities, cyber cover for smart vehicles, and an AI-powered voice platform for policy services.