NEW DELHI (India CSR): In a world increasingly driven by profit, it’s inspiring to witness corporations that go above and beyond their financial obligations to serve society. ICICI Prudential Life Insurance Company Limited stands as a beacon of such commitment, demonstrating that true success is measured not just in economic gains, but in the positive impact on human lives and the planet. For the financial year 2025, the company made a remarkable statement by voluntarily investing Rs 2.51 crore in Corporate Social Responsibility (CSR) initiatives, a powerful testament to its enduring vision of building a trusted institution that serves the protection and long-term saving needs of customers with sensitivity. This significant expenditure highlights a deep-rooted culture of responsibility, even when legal mandates didn’t require it.
A Commitment Beyond Mandates: Voluntary Spending for Greater Good
The Companies Act, 2013, typically outlines the mandatory CSR expenditure for eligible companies. However, for FY2025, ICICI Prudential Life Insurance was not legally obligated to allocate funds towards CSR activities, primarily due to applicable dividend exemptions and average net profit calculations. Yet, the company chose to embrace its broader social responsibility, reinforcing its values by voluntarily spending Rs 2.51 crore. This decision underscores a proactive approach to community development and a genuine belief that growth is most effective when it benefits a wider section of society. This voluntary effort positively impacted 1,991 beneficiaries during the year. The company’s CSR programs are a collaborative endeavor, implemented directly and through partnerships with entities like the ICICI Foundation, to which 70% of the annual CSR budget is contributed.
Key Facts Table: ICICI Prudential Life Insurance CSR Highlights (FY2025)
| Category | Key Highlights |
|---|---|
| CSR Spending | Voluntary investment of Rs 2.51 crore (despite no mandatory obligation) |
| Beneficiaries | 1,991 people directly impacted through CSR initiatives |
| Healthcare Support | – 252 children in 8 childcare homes (health program)- 50 cataract surgeries- 360 cancer patients supported |
| Skill Development | – ~1,200 youth trained- 5 skilling labs established via ICICI Foundation |
| Insurance Penetration | – Covered 1,196 gram panchayats across 4 states- Reached 15.45 lakh lives under rural coverage |
| Micro-Insurance & PMJJBY | – “Sarv Jana Suraksha” product: Rs 50 premium, Rs 39.6 crore cover- PMJJBY: 5.85 lakh lives covered- Total micro-insurance: 7.37 crore lives covered |
| Social Sector Coverage | 20.90% lives from vulnerable groups (exceeding 20% mandate) |
| Renewable Energy | – 59 offices powered by green energy- 3,642 MWh renewable energy (~29% of electricity use) |
| Green Certifications | – ICICI Tower (Mumbai): LEED Platinum– Janakpuri (Delhi): IGBC Platinum |
| Waste Management | – 42,679 kg e-waste responsibly recycled- ~400 trees saved via e-distribution |
| Carbon Footprint | Reduced 2,647 tonnes CO2e in FY2025 |
| Governance & ESG | – Maintained ‘AA’ MSCI ESG rating– First Indian insurer signatory to UNPRI– Launched “ICICI Prudential Sustainable Equity Fund” |
| Awards & Recognition | – Digital Insurer of the Year- Best Claims Management Award- Multiple accolades for ESG Report FY2024 |
Empowering Communities Through Core Initiatives
ICICI Prudential Life Insurance’s CSR framework is deeply rooted in its core proposition: the protection of life and health. This philosophy translates into multi-faceted programs designed to uplift vulnerable sections of society.
1. Enhancing Healthcare Outcomes: The company has partnered with Catalysts for Social Action on a three-year healthcare program, initiated in 2023. This program is dedicated to improving the health outcomes of 252 underprivileged, orphaned, or abandoned children residing in eight childcare homes across Maharashtra. Regular monitoring of health parameters, along with essential health, hygiene, and nutrition support, ensures these children achieve and maintain healthy scores. Beyond this, the company’s initiatives extended to supporting 50 cataract surgeries and assisting 360 underprivileged cancer patients, providing crucial aid where it’s needed most.
2. Fostering Skill Development and Sustainable Livelihoods: Recognizing the importance of economic empowerment, ICICI Prudential Life Insurance actively supports skill development for youth from economically weaker sections. In FY2025, approximately 1,200 trainees benefited from this initiative. The company also established 5 skilling labs through the ICICI Foundation and provided training through the ICICI Academy for Skills, equipping young individuals with the tools for sustainable livelihoods.
3. Expanding Rural and Social Sector Coverage: Aligning with the national vision of “Insurance for All” by 2047, ICICI Prudential Life Insurance is playing a pivotal role in increasing insurance penetration in underserved areas. The company was allocated 1,196 gram panchayats across Tamil Nadu, Uttar Pradesh, Bihar, and Karnataka in FY2025, and successfully achieved 10% population coverage in each, reaching an aggregate of 15.45 lakh lives. Furthermore, its specially designed micro-insurance products, such as “Sarv Jana Suraksha,” offer coverage for premiums as low as Rs 50 per annum, providing a total cover of Rs 39.6 crore as of March 2025. The company has also partnered with banks to promote the Pradhan Mantri Jeevan Jyoti Beema Yojana (PMJJBY), a vital social security initiative that covered approximately 5.85 lakh lives by March 31, 2025. Overall, micro-insurance products have extended protection to over 7.37 crore lives by March 2025. The company exceeded its social sector obligations for FY2025, covering 20.90% of lives from unorganized, informal, and economically vulnerable segments, surpassing the required 20%.
Green Initiatives and Environmental Stewardship
Despite being in the financial services sector with minimal direct environmental impact, ICICI Prudential Life Insurance demonstrates a robust commitment to environmental stewardship. The company’s initiatives focus on responsible consumption and recycling.
Pioneering Renewable Energy Transformation: Significant strides have been made in transitioning to renewable energy. Under its Green Tariff Initiative, 59 offices across India now operate on renewable energy, contributing 3,642 MWh and representing 29% of its total electricity consumption. A large Mumbai office also switched to green energy through a power purchase agreement. Energy efficiency is further enhanced by a lighting management system (LMS) and the use of eco-friendly refrigerants (R410a & R134a) in chillers at its Mumbai offices.
Sustainable Infrastructure and Waste Management: The ICICI Prudential Tower in Prabhadevi proudly holds a LEED PLATINUM certification in “Leadership in Energy & Environmental Design,” with the Janakpuri office in Delhi achieving IGBC Platinum certification, and 9 other offices in the process. The company also promotes responsible consumption by utilizing recycled paper for all printing needs. In FY2025, it successfully reduced its annual Greenhouse Gas (GHG) emissions by 2,647 tonnes of CO2e. The year-on-year GHG emissions per full-time equivalent (FTE) employee stood at 0.83 tCO2e. Additionally, the company responsibly disposed of 42,679 kilograms of e-waste through government-certified vendors in FY2025, and saved approximately 400 trees by opting for electronic distribution of its Annual Report.
Governance and Responsible Investing: The ESG Mandate
ICICI Prudential Life Insurance’s commitment extends to robust governance and ethical practices, with Environmental, Social, and Governance (ESG) principles forming a core pillar of its strategy. The company maintained its ‘AA’ rating by MSCI, positioning it as one of the highest-rated insurers in India for ESG practices. It was also the first Indian insurance company to become a signatory to the UN Principles for Responsible Investment (UNPRI), integrating ESG factors into its investment processes and actively reporting on these activities. The launch of its “ICICI Prudential Sustainable Equity Fund,” benchmarked against the NSE 100 ESG Index, further underscores its dedication to sustainable investing. The company’s ESG initiatives and reporting have been recognized with numerous awards, including ‘Digital Insurer of the Year’ and ‘Best Claims Management – Insurance’ awards, along with multiple accolades for its ESG Report FY2024. The Board Sustainability and Corporate Social Responsibility (BSCSR) Committee plays a crucial role in formulating, recommending, and monitoring these comprehensive CSR and ESG initiatives.
The Road Ahead: A Vision for Enduring Impact
ICICI Prudential Life Insurance’s performance in FY2025, particularly its voluntary CSR spending and comprehensive social and environmental programs, reaffirms its role as a responsible corporate citizen. With a strong financial foundation, a digital-first mindset, and an unwavering focus on customer-centricity, the company is well-poised to continue leading the way. Its consistent efforts to simplify life insurance and amplify trust resonate across its operations, from product development to claims processing, ensuring sustained value for its customers, shareholders, employees, and the environment. The future promises continued innovation, personalization, and simplification of product offerings to address evolving customer needs and deliver superior value, while deepening its positive societal footprint across India.
(India CSR)
