ICICI Prudential Life Insurance has introduced ICICI Pru GIFT Select, a unique long-term savings product aimed at providing guaranteed income while preserving wealth. The initiative is designed to help individuals manage inflation, navigate market fluctuations, and achieve financial stability.
“Our goal is to help customers achieve their long-term financial aspirations with certainty,” said Mr. Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance. The plan offers flexibility in choosing income duration, an increasing income feature compounding at 5% annually, and a lump sum payout on maturity in a tax-efficient manner.
In a bid to modernize insurance distribution, ICICI Prudential has leveraged digital innovations like the IPRU Edge mobile app. The app empowers agents with business leads, social media marketing tools, and a paperless sales process. Between April and December 2024, agent productivity surged by 25%, with 98% of eligible agents receiving same-day commission payments. AI-powered solutions have enabled the issuance of 50% of savings policies on the same day. ICICI Prudential’s 99.3% claim settlement ratio and 1.2-day average claim processing time reinforce its commitment to financial security, setting new benchmarks in customer service and innovation.
