ICICI Lombard’s approach to corporate social responsibility is centered on addressing critical societal challenges through long-term, scalable solutions. The company’s key initiatives span healthcare, road safety, environmental sustainability, and rural development, demonstrating its commitment to creating a safer, healthier, and more sustainable world.
ICICI Lombard’s approach is guided by three strategic pillars: road safety, health, and environmental sustainability. The company’s framework ensures long-term alignment with societal needs through strategic focus on areas where it can deliver meaningful impact. Employee volunteering plays a crucial role in driving social change, with ICICI Lombard’s Caring Hands program reaching over 500,000 children across 2000 schools in India.
The company’s initiatives have made significant strides in addressing social challenges. For instance, its Solar Panel Initiative has installed solar panels in over 350 schools, reducing carbon emissions and benefiting over 150,000 children. Its road safety programs have achieved an SRoI of 6.91 and 5.21 in FY2023, demonstrating the value created through these initiatives.
ICICI Lombard’s approach to CSR is collaborative, recognizing the value of partnerships in amplifying its reach and impact. The company works with NGOs and government authorities to design and implement programs that address specific community needs. For example, its Niranjali program has installed over 4,500 water purifiers across diverse locations, benefiting over 500,000 children.
The company faces challenges in implementing and scaling its CSR initiatives, including ensuring equitable distribution of resources, measuring sustainable impact, and maintaining quality control during rapid scaling. However, ICICI Lombard is addressing these challenges by sharpening its focus on its core pillars, leveraging technology, and refining its implementation models.
In the next five years, ICICI Lombard plans to deepen its commitment to its core pillars, including road safety, health, and environmental sustainability. The company will continue to evolve its approaches to maximize impact, exploring new programs and partnerships to address emerging social challenges.
For Ms. Sheena Kapoor, Head of CSR, leading ICICI Lombard’s CSR initiatives is fulfilling because of the transformative power of targeted interventions in people’s lives. She has witnessed the impact of the company’s programs firsthand, including the emotional connection between employees and beneficiaries. Her passion for social impact stems from seeing the change that ICICI Lombard’s corporate resources and employee engagement can create when directed toward genuine community needs.