ICICI Lombard is known to be a pioneer in introducing innovative concepts in the Indian Insurance sector. Be it the floater concept, the critical illness cover, the tax gain policy or the student medical insurance plans with University Tracker, all these were first introduced by ICICI Lombard. It was also one of the first general insurance companies in India to have a robust online system in place for buying and renewing policies.

ICICI Lombard General Insurance has been conferred the Customer and Brand Loyalty award in the “Insurance Sector - Non-Life” at the 2nd Loyalty awards, 2009. It was awarded the ‘General Insurance Company of the Year’ at the 11th Asia Insurance Industry Awards. The company also won the NDTV Profit Business Leadership Award 2007 and was adjudged as the most Customer Responsive Company in the Insurance category at the Economic Times Avaya Global Connect Customer Responsiveness Award 2006. It has the Gold Shield for "Excellence in Financial Reporting" by the ICAI (Institute of Chartered Accountants of India) for the year ended March 31, 2006.

The company has been assigned a domestic rating of iAAA by ICRA (an associate of Moody’s Investors Service) for highest claim paying ability and a fundamentally strong position.