Page 56 - Insurance Times July 2019

Glossary Do you think IRDAI & Insurance Council must
Poll launch a mass awareness campaign on

insurance?
Yes Results of Poll in our June 2019 Issue
No Do you think the new government will further
boost insurance sector?
Can’t say

Earthquake
Property coverages for losses resulting Poll Contest, The Insurance Times Yes 100
from a sudden trembling or shaking of 25/1, Baranashi Ghosh Street, Kolkata - 700 007 No 0
Phone : 2269 6035, 2218 4184, 4007 8428
the earth, including that caused by Can’t say 00
Email: insurance.kolkata@gmail.com
volcanic eruption. Excluded are losses
resulting from fire, explosion, flood or
tidal wave following the covered event.
Seeing the success of sachet products in the FMCG sector, ICICI Lombard Gen-
eral Insurance is planning to introduce small-ticket insurance products and is
EBNR - Earned but not reported
working with e-commerce players, wallet companies, payments and small finance
Premium amount insurer reasonably
banks for the same.
expects to receive for which contracts
are not yet final and exact amounts are "We are very conscious of the fact that we don't want to just push products but
not definite. create value for the customer," said Sanjeev Mantri, Executive Director, ICICI
Lombard, adding that the insurer is innovating on sachet-size products and is
EDP Policies partnering with digital platforms for distribution.
Coverage to protect against losses "E-commerce and wallet companies are a new channel, which none of the insur-
arising out of damage to or destruction ance companies had thought of three to four years ago. We have worked with
of electronic data processing equipment wallet companies and do contextual offering to the customer like a short-circuit
and its software. cover while paying electricity bill through a wallet," he said.

Previously, the general insurer has joined hands with Paytm to offer about eight
Elevators and Escalators Liability
products including group personal accident insurance cover, insurance for vec-
Liability coverage for bodily injury or
tor-borne diseases and mobile insurance.
property damage arising from the use of
It has also tied up with Mobikwik for insurance of household goods as well as a
elevators or escalators operated,
cyber cover that can be paid on a monthly basis.
maintained or controlled by the insured.
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56 The Insurance Times, July 2019