Economy · India

ICICI Lombard Uses AI for Customer Service and New Product Launches

ICICI Lombard General Insurance has implemented artificial intelligence to handle 70% of its customer calls. The company launched 25 new products and features to commemorate its 25th anniversary, many of which are powered by AI and technology. This move signifies a shift in the insurance sector, with AI playing a role in addressing challenges like mis-selling and focusing on risk management over simple risk transfer.

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