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ICICI Lombard General Insurance’s photo quote app feature

The aim is to help customers renew their motor insurance policies. Here's a look at how it works

ICICI Lombard General Insurance Ltd has launched a photo quote feature on its mobile app, IL Insure. The aim is to help customers renew their motor insurance policies. Here’s a look at how it works.

HOW DOES IT WORK?

The app, IL Insure, can be downloaded from iOS and Android platforms for free. Click a picture of the existing motor insurance policy and send it to the insurer through the app to renew the policy. Since this is for renewal, customer details such as name, address and phone number will already be present with the company. Once these details are populated, confirm details of the renewal premium quote. It takes about 10 minutes for the quote to be generated.

If you have a motor insurance policy from another company and want to switch to ICICI Lombard, you just need to take a picture of the existing policy and send it to the insurer through the app. The insurer processes it and generates a quote in about 10 minutes.

The quote will contain details of the customer (name, age, address, phone number and email address); details of the new policy (no-claim bonus, insured declared value, add-on cover, zero depreciation and new premium); and car details (chassis number and manufacturing year). This is the notification of the car insurance policy. If the premium and other details are acceptable, you can make the payment through the app using a credit or debit card or Net banking. The hard copy of the policy will reach the customer in about a week.

WHAT YOU SHOULD KNOW

It works for renewals as well as for first-time buyers, who can use it by taking a picture of the car purchase invoice (which will have vehicle’s details). The quote generated is valid for seven days. If the customer doesn’t accept it within that time, she will have to take a new quote.

The app is designed to “read" details from the document pictures. If details are missing, the insurer’s customer care executive will call to ask about it. The customer can change details such as phone number or address later also. If the policy has expired, the insurer will inspect your car. Depending on the feedback from the company’s vehicle survey team, you will receive a new policy notification in a day’s time. Before that, one can get a soft copy through the app.

MINT MONEY TAKE

The photo feature of the app offers convenience, especially since vehicle and personal details don’t have to be filled in again. The customer can change some features so that premium also changes, if she is not happy with it. This can be done through the website or by calling the customer service.

The app feature is more for convenience than a cost advantage—there is no difference in premium between renewing through the app or the website or an agent. If one wants a better quote than what is being offered, she should first check what other insurers are offering.

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