ICICI Lombard Health Insurance Review

ICICI Lombard started as a joint venture between ICICI Bank, one of India’s largest financial institutions, and Fairfax Financial Holdings. 

With ICICI Bank as its sole promoter, ICICI Lombard has achieved a 54% growth in its total health portfolio in  FY 2026. This surge effectively boosted the company's retail health market share from 3.3% in FY2025 to 4.1% in FY2026. It signals a deliberate push into retail health, a segment where the company has historically been a smaller player relative to its overall scale. 

But is it the right fit for your needs? Let’s discuss in detail.

Note: All data is sourced from IRDAI Annual Reports and ICICI Lombard's public disclosures.

Key Takeaways from ICICI Lombard Insurance’s Metrics: 

• CSR: The insurer’s CSR is lower than the industry average, particularly compared with other insurers such as HDFC ERGO, which maintains a CSR of 96.71%. 
• ICR: Its ICR falls within a healthy range (between 50% and 80%), indicating the insurer is financially stable and well-positioned to honor claims consistently over time.
• Complaint Volume: With a complaint volume far below the industry average, the insurer genuinely shines at providing a smooth claims experience. 
• GWP: Nearly double the industry average indicates that ICICI Lombard is a trusted insurer with a loyal customer base over the last 25 years. 

In addition to the above metrics, ICICI Lombard has a network of over 10,200+ hospitals, comfortably above our recommended benchmark of 10,000+. If you’d like to know whether your nearest hospital is part of their network,  check their official website. 

Top Plans Offered by ICICI Lombard

Elevate

ICICI Lombard Elevate is the insurer’s flagship plan, offering a sum insured ranging from ₹5 lakh to unlimited, depending on underwriting. It stands out for its surrogate and oocyte cover, no copayment, no disease-wise sub-limits, 90 days pre- and 180 days post-hospitalization, daycare, and domiciliary cover. The plan also offers unlimited restoration for any illness, has a specific illness waiting period of 2 years, and a Pre-Existing Disease (PED) waiting period of 3 years. Policyholders receive a wellness benefit: a 30% discount on renewal premiums. A family floater policy can cover up to 2 adults and 3 children. 

Add-ons (Not Exhaustive)

• Reduction in PED: You can reduce the applicable PED waiting period from 3 years to 2 or 1 year. 
• Jumpstart: For Asthma, Diabetes, Hypertension, Cholesterol, Obesity, or Coronary Artery Disease (PTCA performed within the past 1 year), the PED waiting period can be reduced to 30 days.
• Reduction in Specific Illness Waiting Period: With this rider, the insurer reduces your waiting period from 2 years to 1 year. 
• Power Booster: The plan provides an additional 100% bonus (up to infinity), regardless of any claims in the previous year. 
• Room Modifier: With this add-on, the insurer modifies the room-rent restriction from a single private room to either any room or twin-sharing. 

Health AdvantEdge

ICICI Lombard Health AdvantEdge provides a sum insured ranging from ₹5 lakh to ₹3 crore. There are no copayments or disease-wise sub-limits. You get 60-day pre- and 180-day post-hospitalization cover, along with daycare and domiciliary care covered up to the sum insured. The plan also provides unlimited restoration for any illness. However, there’s a room-rent restriction: a single private room with a sum insured up to ₹20 lakh. 

Add-ons

• Maternity Benefit pays up to ₹1 lakh (up to 10% of the sum insured) for delivery, pregnancy complications, and pre- and postnatal care, after a 2-year waiting period. 
• The Newborn Baby Cover pays for hospitalization until the baby is 90 days old, and the vaccination cover pays up to ₹10,000 for vaccinations until the baby is 1 year old.

Activate Booster Plan 

The ICICI Lombard Activate Booster is a super top-up plan with deductibles ranging from ₹3 lakh to ₹20 lakh. Policyholders can opt for a sum insured between ₹10 lakh and ₹3 crore. There’s a room-rent restriction of a single private AC room. You also get 60 or 90-day pre- and 90 or 180-day post-hospitalization cover (depending on the variant chosen) with daycare and domiciliary being covered up to the sum insured. The specific illness waiting period is 2 years, and the PED waiting period is 3 years. 

Add-ons

• Jumpstart: Policyholders can reduce their PED waiting period from 3 years to 30 days for specific conditions like Diabetes, Hypertension, Hyperlipidemia, Obesity, and Asthma.
• Waiver of Deductible: You can convert your super top-up into a standard base policy in the future without any fresh medical underwriting. This is only possible if you’ve bought the policy before you’re 50 and can exercise it when the eldest member is between 55 and 65.
• Guaranteed Deductible Reduction: Policyholders can reduce their deductible by 10% at each renewal (up to a maximum of 50%). However, this is available only for policies with a minimum deductible of ₹5 lakh.
• Room Modifier: You can either downgrade or upgrade your eligible room category. For example, you can move from a twin-sharing to a single private AC room. 

In this table, A stands for adult and C stands for child. 

For this example, we’ve considered premiums for healthy profiles of individuals living in a tier-1 city like Delhi (pin code: 110010) with a sum insured of ₹15 lakh. The add-ons added are room-rent upgrade, consumables (Claim Protector), and annual health checkup.

ICICI Lombard: Contact Details and Address

• Toll-Free Number: 1800 2666 (Available 24/7)
• Senior Citizen Helpline: seniorcitizencare@icicilombard.com
• Email: customersupport@icicilombard.com
• WhatsApp: +91 7738282666
• Website: www.icicilombard.com
• Mobile App: You can download the ICICI Lombard TakeCare App from the Play Store for Android or App Store for iOS.
• Address: ICICI Lombard House, 414, P Balu Marg, Off Veer Savarkar Road, Near Siddhivinayak Temple, Prabhadevi, Mumbai, 400025. 

ICICI Lombard ranks ninth among the best health insurance companies in India. While its CSR is below the industry average, it excels by maintaining a low complaint volume and a high business volume. Both factors indicate a reliable, well-managed insurer. 

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Confused about the right insurance? Speak to Ditto’s certified advisors for free, unbiased guidance. Book your call or chat over WhatsApp with our advisors.

Ditto’s Take on ICICI Lombard

ICICI Lombard stands out for offering modern, feature-rich health insurance plans with flexible coverage options. Plans like Elevate, in particular, offer benefits such as no copayments, no disease-specific sub-limits, and strong restoration features.

The insurer also performs well in operational efficiency and scale. However, its CSR remains below the industry average and lags behind top competitors like HDFC ERGO and Bajaj General. This is an important factor to consider, especially if claim reliability is your top priority.

Overall, ICICI Lombard can be a good choice if you value innovative features and competitive pricing, but it may not be the best pick out there. Instead, you can check our guide on the best health insurance plans in India to find policies with comprehensive features from insurers with stronger performance across key operational metrics.