ICICI Lombard Awarded Prestigious Porter Prize

ICICI Lombard Awarded Prestigious Porter Prize PR Newswire MUMBAI, October 11, 2012 MUMBAI, October 11, 2012 /PRNewswire/ -- Award Conferred in the Category 'Creating Shared Value' for Achieving Responsible Economic Success Through Sustainable Business Models Recognizes ICICI Lombard's Initiatives in the Area of Mass and Micro Insurance for Economically Weaker Sections of Society ICICI Lombard General Insurance Company Ltd. (ICICI Lombard), India's largest private sector General Insurance Company, has been awarded the prestigious Porter prize in the category 'Creating Shared Value'. The award bestowed by the Institute of Competitiveness and named after Professor Micheal E. Porter recognizes ICICI Lombard's efforts in achieving responsible economic success in the area of mass and micro insurance for the economically weaker sections of the society. Commenting on the occasion, Mr. Bhargav Dasgupta, MD & CEO, ICICI Lombard GIC Ltd. said, "We are honored to receive the coveted Porter Prize in the category 'Creating Shared Value'. ICICI Lombard has been the frontrunner in terms of product innovation in the insurance industry having pioneered the Weather Based Crop Insurance Scheme which has covered over 3 million farmers across 11 states till date. This award is a testimony to the fact that companies can meet social needs while better serving existing markets, accessing new ones, or lowering costs through innovation." Dr.