NewsVoir
Mumbai (Maharashtra) [India], January 23: As India's startup ecosystem continues to scale rapidly, founders are increasingly navigating a complex risk landscape spanning cyber threats, regulatory scrutiny, people-related challenges, and operational disruptions. While innovation and growth remain the primary focus, a single unforeseen incident can significantly impact business continuity, reputation, and investor confidence if risks are not planned for early.
Recognising this gap, ICICI Lombard General Insurance, India's leading private general insurer hosted 'Startup Shield - The Risk Readiness', a focused awareness initiative designed to help Indian start-ups identify, assess, and mitigate key business risks through structured risk planning and appropriate insurance solutions.
The exclusive event brought together over 100 participants, including startup founders, private equity and venture capital investors, CXOs, industry experts, and risk professionals, for interactive discussions on building resilient and future-ready businesses. The initiative aimed to move the conversation beyond risk avoidance, encouraging founders to adopt a proactive approach to risk preparedness as they scale.
The event saw participation from prominent voices across the start-up ecosystem, including representing the investor and broader ecosystem perspective. The presence of founders and investors at different stages of the startup lifecycle enriched discussions around practical risk planning and long-term business resilience.
Startup Shield focused on risk preparedness across different growth stages, highlighting how early planning can strengthen governance, improve operational resilience, and enhance investor confidence. Sessions addressed emerging and critical risk areas such as cyber and data security, employee health and wellness, professional indemnity, directors and officers (D&O) liability, asset protection, and business interruption.
Experts from ICICI Lombard shared real-world case studies demonstrating how timely insurance coverage and structured risk management have helped startups recover from unexpected disruptions, manage legal and financial exposures, and continue their growth journeys with minimal impact on operations.
The discussions also underscored how risk readiness is increasingly becoming a key consideration during investor due diligence, enterprise partnerships, and board-level decision-making, positioning it as a growth enabler rather than a compliance exercise.
Speaking on the initiative, Mr. Sandeep Goradia - Chief Corporate, International & Bancassurance, ICICI Lombard, said, "India today is the third-largest startup ecosystem in the world, with over 1.8 lakh DPIIT-recognised startups driving innovation, employment, and global competitiveness. As Indian startups build ambitious, high-growth businesses, their exposure to unforeseen risks is also rising. Through Startup Shield, we aim to shift the conversation from reacting to risk to anticipating it -- helping founders protect their people, strengthen their businesses, and build lasting stakeholder trust. In doing so, we aspire to become their long-term risk partners, enabling them to scale with resilience, responsibility, and sustainable profitability."
Through Starup Shield, ICICI Lombard reinforced its commitment to supporting entrepreneurship, innovation, and sustainable business growth in India. The initiative forms part of the company's broader efforts to engage with the startup ecosystem and enable founders to build resilient businesses that are prepared not just to grow, but to withstand uncertainty.
About ICICI Lombard General Insurance Company Limited
ICICI Lombard is the leading private general insurance company in the country. The Company offers a comprehensive and well-diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. With a legacy of over 2 decades, ICICI Lombard is committed to customer centricity with its brand philosophy of 'Nibhaye Vaade'. The company has issued over 37.6 million policies, over 3.2 million claims processed and has a Gross Written Premium (GWP) of ₹ 282.58 billion for the year ended March 31, 2025. ICICI Lombard has 328 branches and 15,123 employees, as on March 31, 2025.
ICICI Lombard has been a pioneer in the industry, being the first large-scale insurance company in India to migrate its entire core systems to the cloud. With a strong focus on being digitally-led and agile, the company has introduced multiple AI-powered insurance solutions. The company's flagship insurance and wellness app, IL TakeCare, which has received over 18.4 million downloads, also offers the industry's first Face Scan feature. The company has won several prestigious awards- including the Insurance Asia, ICC Emerging Asia Insurance, ET BFSI Exceller, ET Corporate Excellence, Golden Peacock, FICCI Insurance, Assocham, Stevie Asia Pacific, and National CSR in recognition of its various initiatives.
For more details log on to www.icicilombard.com.
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