ICICI Lombard and IIM Kozhikode draw 1,900 student entries for insurance case challenge

Sheena Kapoor, Head of Marketing, Corporate Communications and CSR at ICICI Lombard, said Season 4 of IL Igniting Minds brought student perspectives on making insurance more accessible, intuitive and relevant.

ICICI Lombard and IIM Kozhikode have concluded the fourth edition of IL Igniting Minds, the insurer’s business case study competition that drew more than 1,900 student registrations from over 35 institutes across India.
This year’s challenge asked students from IIMs and IITs to examine how the Account Aggregator framework could influence underwriting, distribution and claims across health, home, motor and SME insurance.
The Account Aggregator framework, introduced under the Data Empowerment and Protection Architecture by the Reserve Bank of India, allows individuals and businesses to share financial data through a consent based system. The competition focused on how such access could address long standing data gaps in insurance decision making, including income records, credit information, transaction history and business performance data.

ICICI Lombard said the competition was intended to connect academic thinking with industry challenges while identifying ideas and talent relevant to insurance’s digital evolution.
The fourth season follows previous editions conducted with institutions including IIM Calcutta, IIM Lucknow, NMIMS and IIT Bombay’s entrepreneurship cell.
Sheena Kapoor, Head Marketing, Corporate Communications and CSR, ICICI Lombard, said, “Season 4 of IL Igniting Minds reaffirmed our belief that the future of insurance will be shaped by a powerful blend of technology, trust, and human insight.”

She said student teams looked beyond operational efficiency and considered accessibility and user relevance in their ideas.
The final round of the competition was held at ICICI Lombard’s head office, where shortlisted teams presented their solutions before the company’s senior management.
ICICI Lombard said the initiative remains part of its wider engagement with emerging talent and conversations around the future of insurance in India.

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