ICICI Prudential Life Insurance has introduced ICICI Pru GIFT Select, a long-term savings product aimed at ensuring wealth preservation and guaranteed income. As individuals seek investment options that balance capital safety and growth, this product provides a structured financial plan to manage inflation and achieve financial stability.
According to 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 tax-efficient lump sum payout on maturity. The initiative aligns with the growing demand for stable income sources amid economic uncertainties.
Additionally, the company is driving digital transformation in insurance distribution through 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% surge in agent productivity. Between April and December 2024, 98% of eligible agents received commissions on the same day, and AI-powered solutions enabled 50% of savings policies to be issued within a day.
ICICI Prudential further reinforces its industry leadership with a 99.3% claim settlement ratio and 1.2-day average claim processing time, solidifying its reputation as a trusted financial partner.
