ICICI Prudential Life Insurance has launched ICICI Life Partner Stack 2.0, an upgraded digital and AI-enabled ecosystem designed to streamline sales, onboarding, and customer servicing for its extensive advisor and distribution network.
Key Features of Partner Stack 2.0
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AI-Powered Sales Tools: The upgraded platform features the eQuote App, which leverages an AI-based product recommender to suggest tailored solutions based on customer segments and life stages, alongside LIVA, an AI conversational chatbot that assists advisors with product features and instant quotations.
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Streamlined Onboarding: Through deep database integrations with national networks (including UIDAI, CERSAI, CKYC, Vahan, GSTN, EPFO, CAS, and Perfios), the platform can pre-fill up to 70% of application forms, sharply reducing paperwork and onboarding time.
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Enhanced Partner Integration: With over 200 partner-system integrations, the platform links seamlessly with CRM platforms and enables partners to raise and track service requests directly via APIs.
Digital Scale and Performance (Q1 FY2027)
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Digital Adoption: 99% of business applications are received digitally, supported by 27 million digital service interactions in Q1 FY2027 alone.
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Fast-Track Issuance: Automated underwriting and AI-driven pre-issuance video verification helped secure a milestone where 54% of savings policies were issued on the same day.
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Claims Leadership: The insurer reported an industry-leading claim settlement ratio of 99.3%, with a rapid 1-day average turnaround time for non-investigated individual death claims.
(Note: The Board of Directors has also recently approved a proposal to rename the company to ‘ICICI Life Insurance Limited’, pending regulatory and statutory approvals.)
