(Image source: ICICI Prudential homepage.)
ICICI Prudential Life Insurance (Mumbai) has upgraded its Partner Stack with new AI-enabled and digital capabilities for advisors and distribution partners.
The insurer has positioned the upgraded platform as ICICI Life Partner Stack 2.0, according to an ICICI Prudential Life Insurance statement. The stack brings together AI-enabled tools, partner-system integrations and digital capabilities to support sales, onboarding and customer servicing.
Amish Banker, Chief Distribution Officer, ICICI Prudential Life Insurance.
The upgrade is designed to help advisors and distribution partners identify relevant insurance products, generate personalized quotations, onboard customers and support digital servicing.
The insurer’s eQuote app uses an AI-based product recommender to suggest products based on customer segment and life stage. The app also enables advisors to generate and share personalized quotations. LIVA, an AI-enabled chatbot, gives advisors a conversational interface for accessing product features and quotations during customer interactions.
“Our advisors and distribution partners play an important role in helping customers understand and access life insurance solutions,” comments Amish Banker, Chief Distribution Officer, ICICI Prudential Life Insurance. “ICICI Life Partner Stack 2.0 is aimed to give them digital and AI-enabled tools that make everyday operations simpler and customer friendly—from identifying suitable solutions and generating quotations to onboarding and servicing.”
Banker says the integration of those capabilities with partner systems is intended to make processes faster and more seamless, allowing partners to focus on understanding and serving customer needs.
Digital Distribution and Servicing
Partner Stack 2.0 includes deeper integration with partner systems, including CRM platforms for synchronization and customer journey management.
Through API integrations, partners can raise customer service requests from their own platforms and receive digital status updates. Group partners can also use API services to send member details, register claims and share servicing requirements.
The revamped retail and group partner portals give partners access to client details, reports, remuneration details and servicing capabilities.
ICICI Prudential Life Insurance says the platform is integrated with multiple national databases, including UIDAI for Aadhaar, CERSAI for CKYC, Vahan for IDV, GSTN, EPFO, CAS and Perfios. Those integrations can pre-fill up to 70 percent of the application form, reducing the need to collect and upload KYC and income documents.
The platform also provides multiple premium-payment options, including ASBA and WhatsApp-based payments. AI-enabled pre-issuance video verification supports underwriting by strengthening risk and fraud checks, according to the statement.
ICICI Prudential Life Insurance says its digital ecosystem includes more than 200 partner-system integrations, with 99 percent of business applications received digitally. In Q1 FY2027, the company reported 27 million digital service interactions and said 54 percent of savings policies were issued on the same day.
The company also reported a claim settlement ratio of 99.3 percent in Q1 FY2027, with an average turnaround time of one day for non-investigated individual death claims.
ICICI Prudential Life Insurance provides life insurance products in protection and savings categories. The company says its board recently approved a proposal to rename the company ICICI Life Insurance Limited, subject to approvals.