ICICI Prudential Life Insurance has announced the launch of ICICI Pru GIFT Select, a long-term savings product designed to provide guaranteed income while preserving wealth. The product aims to help individuals manage inflation, navigate market fluctuations, and achieve their financial goals with certainty.
“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 income duration, a 5% annual compounding income feature, and a lump sum payout on maturity in a tax-efficient manner.
ICICI Prudential is also transforming life insurance distribution through digital innovations like the IPRU Edge mobile app. This platform equips agents with business leads, social media marketing tools, and a paperless sales process, leading to a 25% increase in agent productivity. Between April and December 2024, 98% of eligible agents received same-day commission payments, while AI-powered solutions enabled 50% of savings policies to be issued within a day.
With a 99.3% claim settlement ratio and an average claim processing time of 1.2 days, ICICI Prudential continues to set new industry benchmarks, reaffirming its commitment to customer-centric financial solutions.