Comparative Study of General Insurance Companies: ICICI Lombard VS LIC General Insurance

Author(s): Sarthak Jain and Dr. Jyoti Sah

Abstract:

Due to rising knowledge, shifting regulations, and technological improvements, the general insurance market in India has expanded significantly. This study compares two major participants in the Indian general insurance market: LIC General Insurance, a public-sector organization, and ICICI Lombard, a leading private insurer. The study assesses customer service, product offerings, market positioning, financial performance, and the effectiveness of the claim settlement process. According to the findings, LIC General Insurance benefits from robust government backing and a wide distribution network, while ICICI Lombard excels in digital transformation and customer-centric innovations. The study provides insights for policyholders, investors, and industry stakeholders, identifying key obstacles and opportunities for insurers.

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Pages: 112-115     |    2 View     |    0 Download