Park+ Partners with ICICI Lombard to Offer Digital Car Insurance

In a significant development for India's automotive sector, Park+ has announced a strategic partnership with ICICI Lombard to integrate car insurance services into its auto-tech platform. The collaboration, revealed on May 19, 2025, will enable Park+ users to access ICICI Lombard's motor insurance solutions through a digital process designed to simplify insurance acquisition and claims.

The partnership is set to benefit Park+'s user base of over 20 million car owners, who will now be able to obtain insurance coverage for both new and used vehicles through the platform. According to the companies, the integration focuses on delivering a hassle-free experience with digital insurance issuance that can be completed within minutes.

A key advantage of this collaboration is the streamlined claims process, facilitated by Park+'s existing connections with service centers throughout India. This integration allows users to manage their entire insurance journey—from initial purchase to claim settlement—within a single platform.

Amit Lakhotia, Founder and CEO of Park+, emphasized that the partnership aligns with the company's mission to improve the car ownership experience. "We wanted to enhance their potential/existing car ownership experience by making car insurance simpler, easier and affordable," Lakhotia stated.

Representing ICICI Lombard, Mr. Anand Singhi, Chief of Retail & Government Business, expressed enthusiasm about the partnership's potential to transform India's car insurance landscape by increasing accessibility and efficiency.

Park+, founded in 2019, has established itself as a comprehensive service provider for car owners, addressing challenges ranging from parking and FASTag management to vehicle access control systems and EV charging stations. The company maintains a presence in over 5,000 residential societies, 250 offices, and 50 malls across more than 30 Indian cities, including metropolitan areas such as Delhi NCR, Bangalore, and Mumbai.

The Indian motor insurance market has seen increasing digitization in recent years, with traditional insurance providers partnering with technology platforms to reach customers more effectively. This collaboration represents another step in the ongoing digital transformation of financial services in India's automotive sector.