Overview
ICICI Prudential Life Insurance announced the launch of its upgraded digital ecosystem, branded ICICI Life Partner Stack 2.0, aimed at enhancing the capabilities of its advisors and distribution partners. The new stack combines AI‑enabled tools, deeper system integrations and end‑to‑end digital functionalities across sales, onboarding and customer servicing.
AI‑Driven Advisor Tools
The eQuote App employs an AI‑based product recommender that suggests suitable life‑insurance solutions based on a customer’s segment and life stage, while also allowing advisors to generate and share personalised quotations instantly. In parallel, LIVA, an AI‑enabled chatbot, provides a conversational interface for advisors to retrieve product features and quotations during customer interactions.
Partner Integration and API Services
Partner Stack 2.0 now supports integration with more than 200 partner‑system interfaces and synchronises with partner CRM platforms for smoother customer‑journey management. Through API connectivity, partners can raise service requests directly from their own platforms, receive status updates digitally, and transmit member details, claim registrations and servicing requirements. Revamped retail and group partner portals grant access to client data, performance reports, remuneration details and other servicing capabilities.
National Database Connectivity and Onboarding Efficiency
The platform is linked to multiple national databases—including UIDAI (Aadhaar), CERSAI (CKYC), Vahan (vehicle ID), GSTN, EPFO, CAS and Perfios—enabling pre‑population of up to 70 % of the application form and reducing the need for manual collection of KYC and income documents. Customers can also make premium payments via ASBA and WhatsApp‑based payment channels. An AI‑enabled pre‑issuance video verification module strengthens underwriting by enhancing risk and fraud checks.
Digital Adoption Metrics (Q1 FY2027)
During the first quarter of FY2027, the insurer recorded 27 million digital service interactions. 54 % of savings policies were issued on the same day of application, reflecting rapid digital processing. The company achieved an industry‑leading claim settlement ratio of 99.3 %, with an average turnaround of one day for non‑investigated individual death claims.
Scale of Digital Ecosystem
Overall, 99 % of business applications are now received digitally. The digital ecosystem underpins the company’s operational efficiency and customer experience.
Financial Position (as of 30 June 2026)
At the end of June 2026, ICICI Prudential Life Insurance reported assets under management (AUM) of Rs 3.34 lakh crore and a total in‑force sum assured of Rs 48.06 lakh crore.
Corporate Update
The Board of Directors has approved a proposal to rename the company to "ICICI Life Insurance Limited", subject to the requisite regulatory approvals.
Executive Comment
Mr. Amish Banker, Chief Distribution Officer, stated that the new stack is designed to simplify everyday operations for advisors and partners, making processes faster and more seamless so they can focus on understanding and serving customer needs.
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