ICICI Lombard and IIT Bombay crown winners of Igniting Minds 2025

MUMBAI: ICICI Lombard’s flagship case-study challenge, IL Igniting Minds 2025 season three, wrapped up in Mumbai with a burst of ideas, energy and campus talent. Run in partnership with IIT Bombay’s E-Cell, the competition drew more than 4000 student registrations from over 500 leading institutes, making this edition the most extensive yet.

Centred on the theme unlocking SME insurance growth in India, the challenge asked students to rethink how small and medium enterprises can access and adopt insurance. With over 6.3 crore SMEs powering India’s economy but still grappling with low insurance penetration, participants were encouraged to reimagine product design, digital pathways and smarter distribution strategies.

This year broadened the competition’s reach, building on earlier editions held with IIM Calcutta, IIM Lucknow and Nmims, which together engaged more than 4500 students across 700 campuses.

ICICI Lombard head of marketing, corporate communications and CSR Sheena Kapoor, said the response surpassed expectations. She noted that the season brought together thousands of young minds brimming with curiosity and purpose and praised the finalists for delivering sharply reasoned solutions backed by real-world insight.

The grand finale at ICICI Lombard’s Mumbai office saw students present their ideas to senior leaders. IIT Delhi claimed the winning title, while IIM Ranchi secured the first runner-up position. Both teams were felicitated by the company’s leadership, rounding off a season that proved both competitive and creatively charged.