Icici Final Report Kapil

8/11/2019 Icici Final Report Kapil

1/123

THE INDIAN INSTITUTE OF PLANNING AND MANAGEMENT

NEW DELHI

THESIS

ON

INSURANCE IN INDIA WITH SPECIAL REFERENCE

TO ICICI PRUDENTIAL

SUBMITTED TO: EXTERNAL GUIDE:

PROF. SUMANTA SHARMA Mr. JAGDEEP SINGHASSOCIATE DEANIIPM, NEW DELHI

SUBMITTED BY:

KAPIL AGGARWAL

BATCH: PGP/SS 2!"#

ALUMNI ID: DS!#"M$$#

IIPM% NEW DELHI


2/123

CERTIFICATE OF ORGINALITY

This is to certify that the thesis titled I&'(r)&*+ ,& I&-,) ,0 S1+*,)

R+3+r+&*+ 4 ICICI Pr(-+&,) is prepared and s!"itted !y "e to Indian

Institte of Plannin# $ Mana#e"ent, Ne% Delhi in partial flfill"ent for the a%ard of

the Master De#ree in &siness Ad"inistration, and this report has not !een s!"itted

else%here'

D)+:

KAPIL AGGARWAL

BATCH: PGP/SS 2!"#

ALUMNI ID: DS!#"M$$#

IIPM% NEW DELHI

ii


3/123

CERTIFICATE FROM GUIDE

This is to certify that this thesis titled I&'(r)&*+ ,& I&-,) ,0 S1+*,)

R+3+r+&*+ 4 ICICI Pr(-+&,) is prepared and co"pleted sccessflly !y K)1,

A55)r) nder "y #idance' The thesis has !een co"pleted to "y satisfaction and I

%ish hi" all the !est in his ftre endea(or'

D)+:

iii


4/123

ACKNOWLEDGEMENT

The present %or) is an effort to thro% so"e li#ht on *I&'(r)&*+ ,& I&-,) ,0

S1+*,) R+3+r+&*+ 4 ICICI Pr(-+&,) The %or) %old not ha(e !een possi!le to

co"e to the present shape %ithot the a!le #idance, sper(ision and help to "e !y

n"!er of people.

With deep sense of #ratitde I ac)no%led#ed the encora#e"ent and #idance

recei(ed !y Pr43. S(6)&) S0)r6) Associate Dean + IIPM, Ne% Delhi' I also

con(ey "y heartfelt affection to Mr. J)5-++1 S,&50%ho helped and spported "e

drin# the corse, for co"pletion of "y thesis'

K)1, A55)r)

i(


5/123

THESIS SYNOPSIS

INSURANCE IN INDIA WITH SPECIAL REFERENCE

TO ICICI PRUDENTIAL

Na"e + apil A##ar%al

Section + -N+.

/oll No + .0

Contact + 1234442567508

E+"ail id + )apil90770:yahoo'co"

Ar+): M)r7+,&5

T41,*; *INSURANCE IN INDIA WITH SPECIAL REFERENCE

TO ICICI PRUDENTIAL

O89+*,+:As "y research is on the insrance sector in India %ith special reference

to ICICI prdential life insrance 'The o!ic) ser(ice

De(elopin# and i"ple"entin# sperior ris) "ana#e"ent and in(est"ent

strate#ies'

I&r4-(*,4&:In this era of #lo!ali?ation as a "ar)eter it is essential to )no% the

plse of the cons"er and the "ar)et trends' Ths it is essential not only to ha(e

theoretical )no%led#e !t also to ha(e the feel of the "ar)et as %ell' Insrance is not

necessarily an in(est"ent, Nor it is #a"!lin#' Insrance is a %ay to share ris) %ith

(


6/123

others' ICICI Prdential Life Insrance Co'Ltd', India@s No'6 pri(ate life insrer has

!een in the forefront in offerin# financial soltions to deal %ith real %orld pro!le"s'

Or partnership %ith leadin# !siness schools across India %ill !e the )ey factors in

creatin# a tea" of %ell adestionnaire for different #rops of respondents'

Bestionnaire %ill !e floated a"on# respondents to collect data' Atte"pts %ill !e

"ade to contact and condct in depth inter(ie% %ith concerned persons'

(i


7/123

D+),' 43 M+&4r:

Na"e; Mr' ADEEP SINH

Desi#nation; Sr /elationship Eecti(e+&siness Loan &siness &an)in# rop'

Mar)etin#

Contact No'; 1234488822.2

(ii


8/123

THESIS APPRO;AL LETTER

Dear apil,

This is to infor" that the thesis topic I&'(r)&*+ ,& I&-,) ,0 S1+*,) R+3+r+&*+ 4

ICICI Pr(-+&,)%as proposed !y yo,has !een appro(ed 'This e"ail is an official

confir"ation that yo %old !e doin# yor thesis %or) nder the #idance of Mr'

a#deep Sin#h' Ma)e it a co"prehensi(e thesisF the o!


9/123

ABSTRACT

In this era of #lo!ali?ation as a "ar)eter it is essential to )no% the plse of the

cons"er and the "ar)et trends' Ths it is essential not only to ha(e theoretical

)no%led#e !t also to ha(e the feel of the "ar)et as %ell'

As I "a)e "y thesis on ICICI Prdential Life Insrance' The or#ani?ation had

assi#ned "e the tas) of Insrance in India and recritin# financial consltants for the

said prpose, follo%in# conditions %ere to !e analy?ed'

Potential of the co"panies in the "ar)et'

Net%or) of the e"ployeeJs to #et "ore and "ore p!lic interaction'

/ecrit"ent of talented people


10/123

Table of Contents

C0)1+r < I&r4-(*,4&""""""""""""""""""""""""""""""""""""""""""""


11/123

: Why to /ecrit

: The po%er rene%al co""issions

C0)1+r $ O89+*,+ 43 0+ S(-?"""""""""""""""""""""""""""""""""">$

C0)1+r"@ R+'+)r*0 M+04-445?""""""""""""""""""""""""""""">@">

: Pri"ary Data

: Scope of thesis

C0)1+r D)) A&)?','""""""""""""""""""""""""""""""""""""""">!"


12/123

CHAPTER 1INTRODUCTION

W0) I' I&'(r)&*+

Insrance is not necessarily an in(est"ent fro" %hich one epects to #et oneJs "oney

!ac), Nor it is #a"!lin#' A #a"!ler ta)es ris)s, %hile insrance offers protection

a#ainst ris)s that already eist' Insrance is a %ay to share ris) %ith others'

Since ancient ti"es, co""nities ha(e pooled so"e of their resorces to help

indi(idals %ho sffer loss' A!ot 8,22 years a#o, Moses instrcted the nation of

Israel to contri!te a portion of their prodce periodically for Kthe alien resident and

the fatherless !oy and the %ido%'

T0+ Or,5,&' 43 I&'(r)&*+

Insrance has eisted for thosands of years' A for" of credit insrance %as inclded

in the Code of Ha""ra!i, a collection of &a!ylonian la%s said to predate the La% of

Moses' To finance their tradin# epeditions in ancient ti"es, ship+o%ners o!tained

loans fro" in(estors' If a ship %as lost, the o%ners %ere not responsi!le for payin#

!ac) the loans' Since "any ships retrned safely, the interest paid !y n"eros ship+

o%ners co(ered the ris) to the lenders'

It %as li)e%ise in a "ariti"e settin# that later one of the %orldJs "ost fa"os

insrance pro(iders, LloydJs of London, %as !orn' &y 677, Ed%ard Lloyd %as

rnnin# a coffeehose %here London "erchants and !an)ers "et infor"ally to do

!siness' There financiers %ho offered insrance contracts to seafarers %rote their

na"es nder the specific a"ont of ris) that they %old accept in echan#e for a

certain pay"ent, or pre"i"' These insrers ca"e to !e )no%n as nder%riters'

ii


13/123

-inally, in 654, LloydJs !eca"e a for"al #rop of nder%riters that in ti"e #re% into

the fore"ost "ar)et for "arine ris)s'

W0) ,3 I )r+)-? 0)+ L,3+ I&'(r)&*+

As an indi(idal, for the etent of financial protection yo need is different fro" that

as a "arried "an %hich in trn is different fro" that as a parent' At each life sta#e, it

is necessary to re+e(alate the a"ont of protection and pro(ision yo re>ire and

ad


14/123

C4&*+1 43 H(6)& L,3+ ;)(+

enerally spea)in#, one can esti"ate the etent of life insrance !y calclatin# oneJs

KH"an Life aleK 1HL3' This is the net present (ale of oneJs ftre earnin#s' Pt

si"ply, it is the a"ont that a personJs fa"ily %old per"anently lose, shold

anythin# nfortnate happen to that person' As a th"! rle, a 82+year old shold

insre oneself for a!ot 7 ti"es his or her annal inco"e' At 8, this is a!ot ti"es'

Of corse, the eact a"ont "st !e ad


15/123

THE HISTORY OF INSURANCE IN INDIA:

The Indian Insrance "ar)et has a #rand history' The de(elop"ent of insrance dates

!ac) of the 64th centry %hen the Eropeans started the Oriental Life Insrance

Co"pany, Calctta in 6777' The first Indian Insrance Co"pany &o"!ay Mtal Life

Insrance ca"e into eistence in 6752 to co(er Indian li(es at nor"al rates' The year

6752 is also i"portant in the sense at &ritish o(ern"ent for the first ti"e act that

year' -or years later -iro? Shah Mehta one of the doyen of Indian -inancial Sector,

Oriental o(ern"ent esta!lished the Oriental o(ern"ent Secrity Life Assrance

Co"pany and after that, "any Insrance co"panies in srfaced on Indian soil'

Ho%e(er, the first Indian Insrance act %as passed on 646., a#ain in 6487 and an

a"end"ent in 642, %hen it %as nationali?ed ho%e(er the sector %as once a#ain

thro%n open to the pri(ate sector in Dece"!er 6444 follo%ed !y the esta!lish"ent of

I'/'D'A' 1Insrance /e#latory and De(elop"ent Athority3 in April .222'

The Indian Insrance Indstry %as do"inated !y t%o states Insres i'e' The Life

Insrance Corporation in Life Insrance and The eneral Insrance Corporation in

#eneral insrance !efore .222 %hich %ere created after the nationali?ation of the Life

and non Life sector in 64 and 645. respecti(ely' In Dec@44, the I/DA Act %as

passed %hich li"ited forei#n in(estors to a . cap on e>ity participation, and

"ini"" capital re>ire"ent of .2 Million' At present, "ore than 6. pri(ate players

are in the "ar)et and so"e are in the pipeline' The ad(ent of the ne% )ids poses to

LIC to so"e%hat etent, for %hich LIC %ill ha(e to chan#e its crrent policies

re#ardin# "ar)etin# and prodct "ana#e"ent'

(


16/123

THE LIFE INSURANCE SCENARIO IN INDIA:

Since 64, %ith the nationali?ation if Insrance Indstry, the states rn Life

Insrance Corporation of India 1LIC3 has held the "onopoly in contry@s life

insrance sector' eneral Insrance Corporation of India 1IC3, %ith its for

s!sidiaries, %as its conterpart in the casalty sector' O(er the ti"e, ta)in#

ad(anta#es of its "onopoly and (irtal prero#ati(e in esta!lishin# the pre"i"s, LIC

has e(ol(ed into a "onolith' With arond 2,222 a#ents in e(ery noo) and corner of

the (ast contry, it has created an en(ia!le !rand na"e, particlarly a"on# the rral

poplation of the contry' It has arond 02 !illion as its financial sector' Ho%e(er,

on the >alitati(e side, it has e(ery little pride in, and there lies the potential for

players to challen#e this !ehe"oth'

As typical %ith "onopolies, the pre"i"s rates char#ed LIC are a"on# the hi#hest in

the %orld, and its trac) record in csto"er ser(ice can at !est !e called sha!!y' With a

h#e nioni?ed, ri#id %or)force "ostly in clerical cate#ory' LIC rn the ris) of hi#h

fied cost, %hich %ill !e the decidin# factor prodcti(ity in the co"petiti(e scenario'

While !oastin# fll+scale ato"ations of its operation, the trth is that its technolo#y

otdated' The ne% players, %ith the state+ of+the+ art technolo#y nder the !elt, %ill

!e in ad(anta#eos position' 72 of LIC@s !siness is procred !y .2 of its ill+

trained a#ent force' The forei#n player, %ith the do"estic partner@s strin# !rand

(ale, can test the ncon(entional distri!tion channels li)e !ro)ers, the Internet, the

!an)in# distri!tion syste" etc', altho#h forei#n players "ay !e te"pted to )eep

their operations in !i# cities for the Qcrea" layer@ of the society, the real "ar)et lies in

rral India, %hich acconts for the lions share of LIC@s present !siness' The forei#n

players "st adapt to Indian realities, the %ell p!lished failres of the %orld fa"os

(i


17/123

cons"er #oods co"panies li)e Electrol, Whirlpool, /ee!o), Ni)e etc' to #a#e the

Indian psyche and senti"ents de"onstrate the concept' They failed in the area of

realistic pricin#, prodct pro"otion and reachin# to the cons"er' The forei#n

co"panies )no% the *#rond realitiesR to the details'

WHY LIFE INSURANCE:

Life Insrance has co"e a lon# %ay fro" the earlier days %hen it %as ori#inally

concei(ed "edi" for short periods of to"e' co(erin# te"porary ris) sitation, sch

as sea (oya#es' As Life Insrance !eca"e "ore esta!lished, it %as reali?ed %hat a

sefl tool it %as for a n"!er of incldin#

TEMPORARY NEED / THREATS:

The ori#inal prpose of the Life Insrance re"ains an i"portant ele"ents, na"ely for

replace"ent of inco"e on death etc'

REGULAR SA;ING:

Pro(idin# for one@s fa"ily and oneself, as a "edi" to lon# ter" eercise 1thro#h a

series of re#lar pay"ent or pre"i"s3' This has !eco"e "ore rele(ant in recent

ti"es as people sect financial independence for their fa"ily'

IN;ESMENT:

Pt si"ply, the !ildin# p of sa(in# %hile safe#ardin# it for" the ra(a#es of

inflation' =nli)e re#lar sa(in# prodcts, in(est"ent prodcts are traditionally l"p

s" in(est"ent, %here the indi(idal "a)es a one off pay"ent'

(ii


18/123

RETIREMENT:

Pro(ision for later years !eco"e increasin#ly necessary, especially in a cltral and

social en(iron"ent' One can !y a sita!le insrance policy, %hich %ill pro(ide

periodical pay"ents in one@s old a#e'

L+ (' )7+ )& +)61+ 4 (&-+r')&- 0+ &++- 34r I&'(r)&*+:

Mr' A"it is 0 and self+e"ployed' His %ife Nandini, %ho is a hose%ife, loo)s after

their t%o children a#ed 8 and 5 years' They stayed in a rented acco""odation, %here

the rent is /s'6222+ per "onth' Mr' A"it has ta)en a loan of /s' . La)h' His

"onthly earnin#s on a(era#e are /s'02, 222+' Mr' A"it passes a%ay in an

nfortnate road accident' What are so"e of the financial i"plications of his death on

his fa"ily

T0+r+ 6)? 8+ '++r) 3,&)&*,) ,61,*),4&' 4& 0,' 3)6,?. S46+ 43 0+'+

)r+:

The "onthly inco"e, pre(iosly pro(ided %old stop'

His %ife and children "ay ha(e to see) financial assistance fro" other relati(es'

His %ife "ay not ha(e eno#h "oney to pay !ac) the loan of /s'. la)hs'

The fa"ilies ha(e to "o(e into a cheaper acco""odation'

The %ido% "ay ha(e to ta)e p %or) to earn "oney'

The edcation of their children "ay sffer'

This si"ple ea"ple illstrates the i"pact pre"atre death can ha(e on a fa"ily,

%here the "ain earner has no life co(er'

(iii


19/123

Had Mr' A"it ta)en a life co(er, his fa"ily %old not ha(e faced sch hardships in

the e(ent of his nfortnate death' A si"ple life insrance policy cold ha(e pro(ided

Mr' A"it@s fa"ily %ith a l"p s" that cold ha(e !een in(ested to pro(ide an

inco"e e>al to all or part of his inco"e'

In si"ple %ords, insrance protects a#ainst nti"ely losses' Insrance has !een fond

sefl in the li(es of persons !oth in the short+ter" and lon#+ter"' Short ter" needs

li)e sdden "edical costs and lon#+ter" needs li)e "arria#e epenses etc' can !e "et

%ith sin# life insrance'

i


20/123

Chapter 2Literatre Re!ie"

RE;IEW OF INSURANCE SECTOR:

India is ha(in# poplation of 6 &illion %ith a "iddle class poplation esti"ated p to

822 "illion' It !ein# the th lar#est econo"y in the %orld in ter"s of Prchasin#

Po%er Parity 1PPP3 has a DP #ro%th rate of o(er per year on an a(era#e for the

last decade' The sa(in# rate is esti"ated to !e a!ot . of the DP' In the total

poplation, the insred the poplation is esti"ated to !e a!ot 52 "illion'

PRI;ATIATION OF INSURANCE:

The Indian Insrance Sector has finally opened p and it is %ith "ch anticipation

that ne% players are a%aitin# their share of "ar)et' License ha(e !een issed to !oth

Indian and -orei#n Players+ /eliance, HD-C Standard+Life, Ma India+Ne% Gor),

/oyal Sndara" Alliance, ICICI Prdential, I--CO+To)yo Marine, &a


21/123

LIBERALIATION OF INSURANCE SECTOR:

Li!erali?ation co""it"ent of the contry to help in disciplinin# ftre econo"ic

policies %ill inclde the insrance refor"s' When %orld o(er insrance "ar)et has

!een opened p' India cannot re"ain in isolation' History has sho%n that it is (ery

difficlt to proper in isolation'

lo!ali?ation is the ne% econo"ic reality, %hich is here to stay, heraldin# a ne% era

of Insrance in India' With the openin# of the insrance indstry, Indian stands to #ain

%ith the follo%in# "aic)er ser(ice

It %ill enhance the sa(in# rate'

Lon#+ter" fnds for infrastrctre de(elop"ent %ill !e a(aila!le to the contry'

It %ill secre for India lar#er inflo% of forei#n capital need to sstain or DP

#ro%th

AD;ANTAGES OF LIBERLIATION:

The openin# p %ill ena!le the contry to sa(e "ore and in(est "ore for the

de(elop"ent in infrastrctre'

With ne% insrance inter"ediaries and "ore distri!tion channels the "ar)et is

!ond to de(elop !y leaps and !onds

In the net fe% years it is esta!lished that the Indian insrance sector %ill de(elop

a !etter nderstandin# of cons"er re>ire"ent leadin# to "ore satisfaction of

cons"ers'

i


22/123

Lead to increase in e"ploy"ent'

Social and rral o!li#ations %ill also !e ser(ed as I/DA has co"e ot %ith clear

re#lation in this re#ard, %hich "a)es the de(elop"ent in this area "andatory'

lo!al co"petition %ill help in !ildin# epertise %ith their #lo!al practice'

=nli)e %est, in India, insrance is sold as the instr"ent of sa(in#' A!ot 67 of the

policies are sold as death ris) consideration' I"pression a!ot LIC is that they are not

"eant for the "ar)et re>ire"ents' They are only intended to find csto"ers'

Insrance a%areness is therefore lo%' =nit lin)ed insrance prodcts are not

a(aila!le' Insrance co(ers are epensi(e and retrns are lo%' Trn o(er the a#ent is

hi#h' The choice a(aila!le to the insrin# p!lic is inade>ate in ter"s of ser(ices,

prodcts and prices' These are the areas of %ea)ness, %hich "ay act as opportnities

for ne% players %ho "ay %or) to offer policies to the csto"er %ith the (ale

additions at a co"petiti(e pre"i" %ith "ch i"pro(ed ser(icin#'

The I/DA #o(erns the critical aspect of Insrance Sector Incldin#;

The n"!er and role of Pri(ate Sector operates incldin#+/o"an area

inter"ediaries'

/e#late co(erin# in(est"ent, sol(ency nor"s

Prodct /an#e

Accontin# Practices

Cons"er Protection Nor"s

Ensrin# the /ral and Health Insrance are de(eloped

-iin# of License fee

ii


23/123

Perhaps all the "ost critical re#lation is the . e>ity Capital for -orei#n Insrers'

This re#lation !rin# in isses re#ardin# "ana#e"ent control and one of the reasons

for


24/123

WHY INSURANCE IN INDIA:

Only .. of the insrance poplation has !een etended co(er' Mar)et

penetration is lo% and the potential to eploit is hi#h'

Insrance pre"i" per capita is (ery lo%'

Lac) of co"prehensi(e social syste" !enefit and %elfare "eans that de"and for

pension prodcts is hi#h'

H#e "iddle class of approi"ately 822 Million'

Eistin# insrance co"pany score lo% on csto"er ser(ice front'

The insrance "ar)et re#istered #ro%th in the Asian re#ion e(en tho#h India@s share

in #lo!al insrance is less than 2' 164773 as co"pared to =SA 1.0'.3 and apan

1.63' Stdies ha(e re(eled that in an e"er#in# "ar)et, as disposa!le inco"e rises,

Insrance pre"i"s as a ratio of DP shoots p' The confederation of Indian Indstry

pro


25/123

"ar)et' Therefore, pri(ate insrers %ill !e !est ser(ed !y "iddle "ar)et approach,

tar#etin# the csto"er se#"ents that are presently neploited'

Ho% "any Indians are a%are that LIC has "ore than 2Prodcts and IC has "ore

than 672Prodcts Not only there is a redction in the pre"i"s of Life Insrance

prodcts ha(e lon# o(erde since Indian "orality rate has decreased three folds in the

last 2years' There is also scope to increase the yield on life insrance policies

1presently 3 %ith proper ris) "ana#e"ent in place'

It is !een de!ated that insrance !siness does not prodce profit in the first fi(e years

cross s!sidi?ation is a featre of Indian "ar)et' E(en the first portfolio (ote that is

considered profita!le, cross s!sidi?es other depart"ents' Tariffs redction is li)ely to

redce profitsF frther insrers ha(e to institte proper clai"s "ana#e"ent pro#ress in

order to etract efficiencies' At present life insrance !siness in the contry is taed

at 6.' of the profit in financial year' The #o(ern"ent is soon to present a ne%

"odel of tain# life insrance co"panies at international rates'

Ne% entrants shold !e %ell ad(ised to loo) ahead to the sta#e %here !rand stren#th

%ill !e a co"petiti(e ad(anta#e and s)etch their alliances accordin#ly' In fact, %e

!elie(e that alliance related to distri!tion rather than to prodce or technolo#y %ill

pro(e "ost (ala!le in the lon# rn'

&an)s and financial co"panies %ill e"er#e, as attracti(e distri!tion channel for this

insrance trend %ill !e led !y t%o factors, %hich already apply in other %orld "ar)et'

-irst &an)in# food insrance, fnd "ana#e"ent and other financial ser(ices

co"panies are !ein# to increase their profita!ility and pro(ide "ai"" (ale to

their csto"ers'

(


26/123

Therefore, they are the"sel(es loo)in# for a ran#e of prodcts to distri!te'

In other "ar)et nota!ly EropeF this has reslted in !an) assrance' &an) enterin#

into the insrance !siness in India to !an) hope to "ai"i?e epensi(e eistin#

net%or) !y sellin# a ran#e of prodcts "ore of a loss alliance !et%een insrance and

!an) than a for"al o%nership' So"e Indian entrants li)e ICICI, HD-C and /eliance

hope to ride their eistin# net%or) and csto"er !ases'

NEED OF BRAND NAME IN INSURANCE:

&randin# is the ne% )ey challen#e in the financial ser(ices indstry' Life in the .6st

centry %ill !e lon#er %ith "ore choice in "ore field of acti(ity' The financial

conse>ence of the increased life span is particlarly li)ely to !e to#h' Ine(ita!ly,

this %ill lead to "ore co"pleity, %hich in trn necessities #reater clarity and appeal

fro" the ser(ice pro(iders'

&randin# is "ore i"portant in the financial ser(ices "ar)et %hich not only faces the

pro!le" of secrin# and retainin# csto"ers in an increasin# co"petiti(e "ar)et

place !t also eperience the need for hei#htened rele(ance of the !rand positionin#

in a %orld %here !rand has !een ter"ed as ne% reli#ion'

Life Insrance Co"pany Pre"i"s S" Assred

LIC 2'8. '.

ICICI Prdential 2'5 82'6

HD-C Standard+Life '45 622

&irla Snlife 60244' .,28,27'.7

-ocs and strate#ies are essential for de(elop"ent of !rand in any sector !t the less

tan#i!le %orld of financial prodcts historically has escaped the !randin# isses that

ha(e #o(erned de(elop"ent and cltre in other indstries'

(i


27/123

If there %as an indstry, %hich is least, considered as an essentiality it %old !e the

insrance indstry' It %as al%ays felt as a!stract ser(ices or a fall !ac), "ore li)ely a

safety net' &t it is "ore of shiftin# thro#h co"petiti(e prodcts to select "ost

appropriate one, !t %ith li!erali?ation of the indstry, players ha(e to reali?e the

need for !randin# in a co"petiti(e en(iron"ent' Insrance co"panies need to stri(e

for a #reater csto"er focs re#ardless the csto"er is the end or the inter"ediary'

M)r7+ S0)r+ )64&5 Pr,)+ C461)&,+':

M)r7+ P4+&,) 34r Pr,)+ L,3+ I&'(r)&*+ C461)&,+' ,& I&-,):

It has !een fond ot that;

7 percent of the Indians prefer LIC than any other insrance co"panies'

(ii


28/123

JPre(ention of LossJ, JAssred /etrnsJ and JLon# ter" In(est"entJ are the

i"portant factors inflencin# Indians in optin# for Life Insrance

Only fe% of the Indians are a%are of pri(ate life insrance co"panies'

Most of the Indians are of the opinion that pri(ate insrance co"panies %old !e

a!le to perfor" %ell in the lon# rn'

Most of the Indians are interested in JMoney !ac)J policies than others

Most of the" are interested in insrin# for an a"ont of /s' 6+ . la)hs

There is si#nificant relationship eistin# !et%een "onthly hosehold inco"e and

a"ont insred

&ased on the "onthly hosehold inco"e, Indians prefer to their in(est"ent needs

li)e !an) deposit, post office sche"es, real estate, insrance, #old, chit fnds,

shares etc'

A#ents are "ostly responsi!le for sellin# insrance prodcts in India'

(iii


29/123


30/123

O(r ,',4&:

To "a)e ICICI Prdential the do"inant Life and Pensions player !ilt on trst !y

%orld+class people and ser(ice'

This %e hope to achie(e !y;

=nderstandin# the needs of csto"ers and offerin# the" sperior prodcts and

ser(ice

Le(era#in# technolo#y to ser(ice csto"ers >ic)ly, efficiently and con(eniently

De(elopin# and i"ple"entin# sperior ris) "ana#e"ent and in(est"ent

strate#ies to offer sstaina!le and sta!le retrns to or policyholders

Pro(idin# an ena!lin# en(iron"ent to foster #ro%th and learnin# for or

e"ployees

And a!o(e all, !ildin# transparency in all or dealin#s'

The sccess of the co"pany %ill !e fonded in its nflinchin# co""it"ent to core

(ales ++ Inte#rity, Csto"er -irst, &ondary less, O%nership and Passion' Each of

the (ales descri!es %hat the co"pany stands for, the >alities of or people and the

%ay %e %or)' We do !elie(e that %e are on the threshold of an ecitin# ne%

opportnity, %here %e can play a si#nificant role in redefinin# and reshapin# the

sector' i(en the >ality of or parenta#e and the co""it"ent of or tea", there are

no li"its to or #ro%th'


31/123

Pr464+r':

ICICI B)&7:

ICICI &an) is India@s second+lar#est !an) %ith total assets of a!ot /s'66., 2.0 crore

and a net%or) of a!ot 02 !ranches and offices and a!ot 652 ATMs' It offers a

%ide ran#e of !an)in# prodcts and financial ser(ices to corporate and retail

csto"ers thro#h a (ariety of deli(ery channels and thro#h its specialised

s!sidiaries and affiliates in the areas of in(est"ent !an)in#, life and non+life

insrance, (entre capital, asset "ana#e"ent and infor"ation technolo#y' ICICI &an)

posted a net profit of /s'6, 85 crore for the year ended March 86, .220' ICICI

&an)JJse>ity shares are listed in India on stoc) echan#es at Chennai, Delhi, ol)ata

and adodara, the Stoc) Echan#e, M"!ai and the National Stoc) Echan#e of

India Li"ited and its A"erican Depositary /eceipts 1AD/s3 are listed on the Ne%

Gor) Stoc) Echan#e 1NGSE3'

Pr(-+&,) 1*:

Esta!lished in London in 6707, Prdential plc, thro#h its !sinesses in the = and

Erope, the =S and Asia, pro(ides retail financial ser(ices prodcts and ser(ices to

"ore than 6 "illion csto"ers, policyholder and nit holders %orld%ide' As of ne

82, .220, the co"pany had o(er =S822 !illion in fnds nder "ana#e"ent'

Prdential has !ro#ht to "ar)et an inte#rated ran#e of financial ser(ices prodcts

that no% incldes life assrance, pensions, "tal fnds, !an)in#, in(est"ent

"ana#e"ent and #eneral insrance' In Asia, Prdential is the leadin# Eropean life

insrance co"pany %ith a (ast net%or) of .0 life and "tal fnd operations in

t%el(e contries + China, Hon# on#, India, Indonesia, apan, orea, Malaysia, the

Philippines, Sin#apore, Tai%an, Thailand and ietna"'

i


32/123

M)&)5+6+&:

B4)r- 43 D,r+*4r':

The ICICI Prdential Life Insrance Co"pany Li"ited &oard co"prises repted

people fro" the finance indstry !oth fro" India and a!road'

Mr' '' a"ath, Chair"an

Ms' alpana Morparia, ice Chairperson

Ms' Chanda ochhar, Director

Mr' &arry Sto%e, Director

Mr' H'T' Phon#, Director

Prof' Marti ' S!rah"anya", Director

Mr' Mahesh Prasad Modi, Director

Ms' /a"a &i


33/123

S+*r+)r?

Ms' Anita Pai, Chief + Csto"er Ser(ice and Operations

Mr' Pneet Nanda, Chief In(est"ents

Mr' Sh!hro ' Mitra, Chief + H"an /esorces

Mr' Dipan &hattacharya + Chief Infor"ation Technolo#y

-act Sheet

iii


34/123

THE COMPANY

ICICI Prdential Life Insrance Co"pany is a ity !ase stands at /s' 4. crore %ith ICICI &an) and Prdential

plc holdin# 50 and . sta)e respecti(ely' In the financial year ended March 86,

.22, the co"pany #arnered /s 670 crore of ne% !siness pre"i" for a total s"

assred of /s 68,572 crore and %rote nearly 6,222 policies' -or the past for years,

ICICI Prdential has retained its position as the No' 6 pri(ate life insrer in the

contry, %ith a %ide ran#e of flei!le prodcts that "eet the needs of the Indian

csto"er at e(ery step in life'

DISTRIBUTION:

ICICI Prdential has one of the lar#est distri!tion net%or)s a"on#st pri(ate life

insrers in India, ha(in# co""enced operations in 50 cities and to%ns in India' These

are; A#ra, Ah"eda!ad, A


35/123

Na#pr, Nasi), Noida, Ne% Delhi, Patiala, Pne, /aipr, /a


36/123

PRODUCTS

Life is npredicta!le' &t in face of ad(ersity, or responsi!ilities to%ards or

parents, children and lo(ed ones need not !e co"pro"ised' Insrance plannin# e>ips

yo to s"ooth ot the ncertainties and ad(ersities that life "i#ht send yor %ay, so

that the !est that life has to offer, secre in the )no%led#e that yor !elo(ed ones are

%ell pro(ided for'

ICICI Pr offers a co"plete ran#e of insrance prodcts

6' Protection Plans

.' Sa(in#s Plans

8' Child Plans

0' In(est"ent Plans

' /etire"ent Plans

' rop Plans

5' /ral Plans

7' Plans for N/Is

4' ey"an Plans

62' /iders

(i

I&'(r)&*+ P)&'
http://www.iciciprulife.com/ipru/protection1.jsphttp://www.iciciprulife.com/ipru/savings1.jsphttp://www.iciciprulife.com/ipru/childplan1.jsphttp://www.iciciprulife.com/ipru/investment1.jsphttp://www.iciciprulife.com/ipru/retire1.jsphttp://www.iciciprulife.com/ipru/groupplan1.jsphttp://www.iciciprulife.com/ipru/ruralplan1.jsphttp://www.iciciprulife.com/ipru/nriplan1.jsphttp://www.iciciprulife.com/ipru/keymanplan1.jsphttp://www.iciciprulife.com/ipru/riders.jsphttp://www.iciciprulife.com/ipru/protection1.jsphttp://www.iciciprulife.com/ipru/savings1.jsphttp://www.iciciprulife.com/ipru/childplan1.jsphttp://www.iciciprulife.com/ipru/investment1.jsphttp://www.iciciprulife.com/ipru/retire1.jsphttp://www.iciciprulife.com/ipru/groupplan1.jsphttp://www.iciciprulife.com/ipru/ruralplan1.jsphttp://www.iciciprulife.com/ipru/nriplan1.jsphttp://www.iciciprulife.com/ipru/keymanplan1.jsphttp://www.iciciprulife.com/ipru/riders.jsp


37/123

ICICI Prdential Life Insrance offers Lifeard + a set of pre protection plans'

Choose fro" a"on#st three different prodct strctres to insre yor life and pro(ide

total secrity to yor fa"ily, at a (ery afforda!le cost'

L++ T+r6 A''(r)&*+ ,0 r+(r& 43 1r+6,(6

On death the entire s" assred %ill !e paid'

On "atrity, all the pre"i"s paid %ill !e retrned'

L++ T+r6 A''(r)&*+ ,04( r+(r& 43 1r+6,(6


No sr(i(al or "atrity !enefits'

Go can also enhance the a!o(e t%o policies !y addin# Accident $ Disa!ility &enefit

/iderand Wai(er of Pre"i" /ider 1WOP3'

L++ T+r6 A''(r)&*+ " S,&5+ 1r+6,(6:


No sr(i(al or "atrity !enefits

(ii

Pr4+*,4& P)&'
http://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#f


38/123

ICICI Prdential offers a (ariety of policies that #i(e yo the !enefits of protection

and the opportnity to sa(e for i"portant assets or e(ents, li)e a ho"e, a car or a

%eddin#'

I&+' S0,+- C)'0

A re#lar pre"i" nit+lin)ed insrance plan %ith an assrance of Capital

aranteeV %ith the added ad(anta#e of flei!le li>idity option' An ideal plan for

lon# ter" plannin# %ith the !enefit of li>idity'

T0+ 7+? 3+)(r+' 43 0+ 1)& )r+:

-lei!ility to choose a specific le(el of protection 1S" Assred3, !ased on a

"ltiple of the annal pre"i"' Go can also choose the ter" of the plan'

At the end of the ter", the hi#her of the (ale of nits or the #aranteed (ale is

paid' On death, S" Assred alon# %ith the hi#her of (ale of nits or the

#aranteed (ale is paya!le'

-acility to "a)e %ithdra%als fro" the th policy year on%ards till the end of the

policy ter"' E(ery year %ithdra% p to 62 of the (ale of nits'

Additional credits paya!le as a percenta#e of the initial annal pre"i" are paid

alon# %ith the death or "atrity !enefit'

(iii

S),&5' P)&'


39/123

Additional insrance for 62 years after the "atrity, for an a"ont of 2 of the

S" Assred'

-lei!ility to "a)e additional in(est"ent %ith the help of the top+p facility'

-lei!ility to increase decrease yor annal pre"i" a"ont

-acility of Ato"atic Pre"i" Pay"ent+ With this facility yo can ta)e a

te"porary !rea) fro" pre"i" pay"ent'

Total transparency %ith the pre"i" allocations, and other char#es declared

pfront'

The #aranteed (ale of the nit fnd is the (ale of all in(ested pre"i"s

1pre"i"s net of all char#es3 alon# %ith the declared !ons interests'

With Ato"atic Pre"i" Pay"ent facility, yo can a(ail a te"porary !rea) fro"

pre"i" pay"ent for a "ai"" of 6 year' This facility is a(aila!le once if the

pre"i" payin# ter" is less than 6 years and t%ice, if it is 6 years or "ore'

The capital #arantee is applica!le only on the in(ested pre"i" and the declared

!ons interests'

Go can also enhance yor policy !y addin# Accident $ Disa!ility &enefit /ider,

Wai(er of Pre"i" /iderand Critical Illness /ider'

I&+' S0,+- L,3+

A re#lar pre"i" nit+lin)ed insrance plan %ith an assrance of Capital arantee

An ideal plan for yor lon#+ter" sa(in#s and protection re>ire"ent'

i
http://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#ahttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#a


40/123


41/123

Go can also enhance yor policy !y addin# Accident $ Disa!ility &enefit /ider,

Wai(er of Pre"i" /iderand Critical Illness /ider'

I&+' S0,+- 54-

A nit+lin)ed insrance plan %ith an assrance of Capital aranteeV, %hich offers

yo the !enefit of a li"ited pre"i" pay"ent ter"' An ideal plan for protection %ith

%ealth creation that offers the flei!ility of a li"ited pre"i" payin# ter"'

-lei!ility to choose a pre"i" pay"ent ter" of , 5 or 62 years for a "atrity

ter" of 62, 6 or .2 years respecti(ely'

-lei!ility to choose a specific le(el of protection 1S" Assred3, !ased on a

"ltiple of the annal pre"i"'

At the end of the ter" 1"atrity3, the hi#her of the (ale of nits or the #aranteed

(ale is paid' On death, S" Assred alon# %ith the hi#her of (ale of nits or

the #aranteed (ale is paya!le'


alon# %ith the death or "atrity !enefit'

-acility to "a)e %ithdra%als fro" the th policy year on%ards till the end of the

policy ter"' E(ery year %ithdra% pto 62 of the (ale of nits




pfront'

The #aranteed (ale of the nit fnd is the (ale of all in(ested pre"i"s

1pre"i"s net of all char#es3 alon# %ith the declared !ons interests'

li
http://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#ahttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#a


42/123


!ons interests'

Go can also enhance yor policy !y addin# Accident $ Disa!ility &enefit /iderand

Critical Illness /ider'

Pr+6,+r L,3+

Presentin# Pre"ier Life The Preferred plan for the Preferred Csto"er' The )ey

featres of the plan are;

Li"ited pre"i" pay"ent option; Choose fro" a"on# a 8, , 5 or 62 year

pre"i" payin# ter"'

Choice of s" assred; Choose a s" assred, %hich is a "ini"" "ltiple of 6

and a "ai"" "ltiple of . ti"es the annal contri!tion'

Additional allocation of nits on a periodic !asis'

-acility to top+p yor in(est"ent any ti"e yo ha(e srpls fnds'

Choose fro" a"on# for fnds, !ased on yor in(est"ent o!


43/123

L,3+ T,6+ L,3+ T,6+ II

Presentin# Life Ti"e $ Life Ti"e II nit lin)ed plans that "eets yor chan#in#

needs o(er a lifeti"e' These soltions ha(e !een de(eloped to "eet yor sa(in#s,

protection and in(est"ent needs at e(ery sta#e in life'

Pr4+*,4&

Choose a specified le(el of protection 1a(aila!le only %ith Life Ti"e3'

T%o le(els of S" Assred to choose fro" 1a(aila!le only %ith Life Ti"e II3'

-lei!ility to increase or decrease yor s" assred'

Add+on riders to protect yo a#ainst any e(entality'

S),&5'

-lei!ility to increase or decrease yor contri!tion'

-acility of Pre"i" Holiday, %herein the policy contines e(en if there is a

te"porary !rea) in the pay"ent of annal contri!tion 1a(aila!le only %ith

Lifeti"e3'

-acility of Ato"atic Co(er Continance, %herein the policy contines e(en if

there is a te"porary !rea) in the pay"ent of annal contri!tion 1a(aila!le only

%ith Lifeti"e II3'

-acility to top+p yor in(est"ent any ti"e yo ha(e srpls fnds'

Additional allocation of nits on a periodic !asis'

Loans a#ainst the policy'

liii


44/123


45/123

The flei!ility to choose a"on#st three le(els of co(er 1in the for" of s"

assred3 for the sa"e a"ont of total annal contri!tion'

The flei!ility of shiftin# !et%een the three le(els of co(er, as yo re>ire'

The flei!ility of recei(in# yor "atrity proceeds as a l"p s" or in e>al

annal install"ents o(er 8 or years'

The flei!ility of %ithdra%in# p to 62 of the acc"lated (ale of yor policy,

after the first policy years'

Go can also enhance yor policy !y addin# ariety of /iders

S)+&Pr4+*

An ideal plan for those %ho %ant to acc"late fnds on a re#lar !asis %hile

en


46/123


47/123

S6)r K,- E-(*),4& P)&'

As a responsi!le parent, yo %ill al%ays stri(e to ensre a hassle+free, sccessfl life

for yor child' Ho%e(er, life is fll of ncertainties and e(en the !est+laid plans can

#o %ron#' Here@s ho% yo can #i(e yor child a 622 safe and assred to"orro%,

%hate(er the ncertainties' S"art id is especially desi#ned to pro(ide flei!ility and

safe#ard yor child@s ftre edcation and lifestyle, ta)in# all possi!ilities into

accont' Choose fro" a"on#st a !as)et of 0 plans;

S"art id re#lar pre"i"

S"art id nit+lin)ed re#lar pre"i"

S"art id nit+lin)ed re#lar pre"i" II

S"art id nit+lin)ed sin#le pre"i" II

l(ii

Child Plans


48/123

A 0+'+ 1)&' 433+r ?4(:

F,&)&*,) B+&+3,':/e#lar pay"ents at critical sta#es in yor child@s life, li)e

&oard ea"inations, radation and Post+#radation'

Total peace of "ind, e(en if yo are not arond

S(6 A''(r+- ,' 1),- ,66+-,)+?: Ensres that yor lo(ed ones stay

financially secre, e(en in yor a!sence'

A 3((r+ 1r+6,(6' )r+ ),+-:Ensrin# that yor fa"ily is not financially

!rdened in yor a!sence'

P4,*? 8+&+3,' *4&,&(+: The edcational !enefits of the policy contine,

ensrin# that yor child can reali?e his or her drea"s %ithot any hassles'

D++416+& A4)&*+:S"art id #arantees re#lar inco"e to secre yor

child@s edcational career and also ensres his or her all+rond de(elop"ent, for a

no"inal additional a"ont' The Inco"e &enefit /ider ta)es care of this thro#h an

annal pay"ent of 62 of the s" assred, to yor child, till the "atrity of the

policy, in the nfortnate e(ent of the death of the parent'

All S"artid plans can !e enhanced %ith the Accident $ Disa!ility &enefit /iderand

Inco"e &enefit /ider' Go can also an Accident &enefit /iderto a S"art id /e#lar

Pre"i" policy, and a Wai(er of Pre"i" /ider 1WOP3 to S"art id nit+lin)ed

re#lar pre"i" policy'

l(iii
http://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#ehttp://www.iciciprulife.com/ipru/riders.jsp#dhttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#ehttp://www.iciciprulife.com/ipru/riders.jsp#dhttp://www.iciciprulife.com/ipru/riders.jsp#f


49/123

LifeLin) II is a ni>e plan that co"!ines the secrity of a life insrance policy %ith

the opportnity of en


50/123

Life Epectancy has !een risin# rapidly and today yo can

epect to li(e lon#er than yor earlier #enerations' -or yo, this increase %ill "ean a

lon#er retire"ent life, stretchin# into a cople of decades' ICICI Prdential presents

/etire"ent Soltions that co"!ine the !est of insrance and in(est"ent' These

soltions are de(eloped to ensre yor peace of "ind for the years to co"e'

Why plan for retire"ent

Ho% "ch shold I set aside for retire"ent

The i"pact of inflation on yor retire"ent sa(in#s

Why plan early

A!ot Annities

W0? 1)& 34r r+,r+6+&

-or too "any people, the


51/123

H4 6(*0 6(' I '+ )',-+ 34r r+,r+6+&

To ensre a co"forta!le retired life, yo %old !e %ise to in(est "oney into

additional a(enes li)e pension plans' Ho% "ch yo need to in(est can !e ans%ered

!y ans%erin# so"e >estions sch as;

Ho% lon# do yo ha(e to sa(e that a"ont !efore retire"ent

Where can yo in(est yor retire"ent "oney

Ho% "ch ris) are yo %illin# to ta)e on yor in(est"ents

li


52/123

I61)* 43 I&3),4&:

Inflation i"plies the chan#e in the %orth of "oney o(er a period' &y the ti"e yo

retire, yor "oney %ill !e %orth a lot less than %hat it is today' So, its i"portant to

factor this in %hen yo in(est for yor #olden years'

In order to deter"ine


53/123

The #raph de"onstrates the redcin# prchasin# po%er of /s' 62,222 after so"e

years'

W0? P)& E)r?

*/etire"ent, that@s .2 years fro" no%' Why shold I thin) a!ot it no%R Isn@t that

the standard ans%er that %e all #i(e %hen as)ed a!ot retire"ent plannin#' Ho%e(er,

to !ild a healthy retire"ent )itty, it is necessary to start plannin# early, as e(ident in

the ea"ple !elo%;

As can !e seen the cost of delayin# is hi#h' Sitation A is %hen yo are sa(in# /s

62222 annally fro" the a#e of . to 80

years and Sitation & is %hen yo sa(e the

sa"e annal a"ont fro" the a#e of 8 to

4 years' As can !e seen in the ea"ple,

e(en after in(estin# yor "oney for a .'

ti"es lon#er dration, the "atrity (ale in

the second case is "ch lesser 1the fi#res

are !ased on a hypothetical interest rate of 623' The lon#er yor "oney is allo%ed to

#ro% at a co"ponded rate, the "ore dra"atic %ill the difference !e e(entally'

liii


54/123

I&+' '0,+- 1+&',4&

A re#lar pre"i" nit+lin)ed pension plan %ith an assrance of Capital aranteeV'

A flei!le pension plan to secre yor retire"ent years'

-lei!ility to choose a le(el of protection 1S" Assred3, !ased on a "ltiple of

the annal pre"i" and ter"' Uero S" Assred can also !e chosen' Go can

choose the ter" of the plan'

At the end of the ter", the hi#her of the (ale of nits or the #aranteed (ale is

sed to prchase an annity 1pension3' On death, S" Assred 1if chosen3 alon#

%ith the hi#her of (ale of nits or the #aranteed (ale is sed to prchase an

annity or can !e ta)en as l"ps", !y the no"inee'


alon# %ith the death !enefit or at (estin# 1/etire"ent date3'

-lei!ility to choose fro" a"on#st different annity options at (estin#

1/etire"ent date3'



-acility of Ato"atic Pre"i" Pay"ent+ With this facility yo can ta)e a

te"porary !rea) fro" pre"i" pay"ent'


pfront'

The #aranteed (ale of the nit fnd is the (ale of all in(ested pre"i"s 1pre"i"s

net of all char#es3 alon# %ith the declared !ons interests'

With Ato"atic Pre"i" Pay"ent facility, yo can a(ail a te"porary !rea) fro"

pre"i" pay"ent for a "ai"" of 6 year' This facility is a(aila!le once if the

li(


55/123

pre"i" payin# ter" is less than 6 years and t%ice, if it is 6 years or "ore'


!ons interests'

Go can also enhance yor policy !y addin# Accident $ Disa!ility &enefit /iderand

Wai(er of Pre"i" /ider'

l(
http://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#fhttp://www.iciciprulife.com/ipru/riders.jsp#chttp://www.iciciprulife.com/ipru/riders.jsp#f


56/123


57/123

Gr4(1 T+r6 A''(r)&*+; Helps pro(ide afforda!le co(er to "e"!ers of a #rop'

Gr4(1 Gr)(,? P)&; Helps e"ployers fnd their stattory #ratity o!li#ation in a

flei!le and hassle+free "anner'

Gr4(1 S(1+r)&&(),4& P)& ; A flei!le sche"e 1defined !enefit and defined

contri!tion3 to pro(ide a retire"ent )itty for each "e"!er of the #rop'

Gr4(1 T+r6 A''(r)&*+:

ICICI PrJs flei!le #rop ter" soltion helps pro(ide afforda!le co(er to "e"!ers of

a #rop' The co(er cold !e nifor" or !ased on desi#nationran) or a "ltiple of

salary, and can !e etended to all e"ployees !et%een the a#es of 67 and years' The

!enefit nder the policy is paid on the e(ent of the "e"!er@s death to the !eneficiary

no"inated !y the "e"!er' It is a one+year rene%a!le policy %here one "aster policy

co(ers all proposed e"ployees co"prisin# the #rop, %ith a "ini"" #rop si?e of

. persons' Ne% "e"!ers can


58/123

H,50,50' ,&*(-+:

reater con(enience for the e"ployees %ith relaed nder%ritin# and "edical

re>ire"ents'

K-ree Co(er Li"itsK %ith si"plified nder%ritin# dependin# pon the n"!er of

e"ployees in the #rop and the le(el of co(er chosen'

G()r)&++- 8+&+3,:On death drin# the ter" of the contract 1%hile in ser(ice3,

the s" assred %ill !e paid to the !eneficiary of the e"ployee'

Choice of additional co(era#e in for" an Accident and Disa!ility &enefit /ider and

Critical Illness Co(er

Pre"i" is (ie%ed as a !siness epense in the year of pay"ent'

Gr4(1 Gr)(,? P)&:

ICICI PrJs #rop #ratity plan helps e"ployers fnd their #ratity o!li#ation in a

scientific "anner' E"ployers can a(ail of the ta !enefits as applica!le to appro(ed

#ratity fnds' The plan can also !e csto"i?ed to strctre sche"es that can pro(ide

!enefits !eyond the stattory o!li#ations'

Hi#hli#hts inclde;

W,-+r *04,*+ 43 ,&+'6+&' ,0 M)r7+ L,&7+- P)&' " to "eet the di(erse

financial #oals' We offer 0 in(est"ent options 1short+ter" de!t, de!t and !alanced and

capital #arantee plan3 %here in(est"ents %ill !e "ade in accordance %ith the fnd

o!


59/123

Transparency thro#h Daily disclosre of =nit ale and re#lar disclosre of the

portfolio of each of the in(est"ent option flei!ility thro#h s%itchin# and

contri!tion redirection option to ena!le reshfflin# of portfolio &ndled Life Co(er

#reater (ale to the e"ployee !y pac)a#in# life insrance co(er %ith the #ratity,

%ith "ini"al a"ont of nder%ritin#'

Actarial ser(ices to pro(ide a scientific esti"ation of the #ratity lia!ility' Lo%

eplicit char#e strctre %ith the conditions for eit specified pfront' Enhanced

ser(ice le(els thro#h faster clai" settle"ent, easier access to infor"ation and re#lar

state"ents' Co"plete end to end soltion in the le#al and re#latory appro(al process

for sche"e set p or transfers

E614?++ B+&+3,':

The contri!tion "ade !y the e"ployer is not inclded in the (ale of taa!le

per>isites in the hands of the e"ployee'

ratity recei(ed p to /s 82222 is ee"pt fro" Inco"e ta nder Sec 621623

E614?+r B+&+3,':

Annal contri!tion p to 7'88 of salary !ill in a financial year is allo%ed a

dedction for the prpose of co"ptation of profits and #ains of !siness'

Contri!tion to%ards past ser(ice lia!ility is allo%ed as dedction as per the

Inco"e Ta rles'

li


60/123

Gr4(1 S(1+r)&&(),4& P)&:

ICICI Pr@s Sperannation Sche"e 1for !oth Defined &enefit and Defined

Contri!tion fnds3 offers s!stantial !enefits to !oth e"ployers and e"ployees' The

e"ployer and e"ployee can a(ail of ta !enefits applica!le to an appro(ed

sperannation trst' The sche"e %ill pro(ide for a retire"ent fnd for each

participatin# e"ployee' An e"ployee %old !e a!le to choose fro" (arios annity

options or opt for partial co""tation of corps at retire"ent'

H,50,50' ,&*(-+:

W,-+r *04,*+ 43 ,&+'6+&' ,0 M)r7+ L,&7+- P)&' " to "eet the di(erse

financial #oals' We offer in(est"ent options 1short+ter" de!t, de!t, !alanced,

#ro%th and capital #arantee plan3 %here in(est"ents %ill !e "ade in accordance

%ith the fnd o!


61/123

ICICI PrLife /ral Prodcts are desi#ned to "eet the needs of the rral cons"ers'

These prodcts offer the follo%in# featres;


62/123

ICICI Pr( S(r)7'0) " R+5()r Pr+6,(6:

ICICI Pr Sra)sha is a re#lar pre"i" policy %ith the follo%in# featres;

Indi(idal policy

Only Life co(er

Ter" + 8 $ Grs

A#e independent pre"i"

A#e at entry 67 + 0 Grs

S" Assred Sin#le

Pre"i" Gear /s 2 .22

MatrityDeath !enefit /s',222 + .2,222

Death &enefit S" Assred

lii


63/123

NRI P)&':

&ein# a%ay fro" India doesnJt "ean yo ha(e to co"pro"ise the safety and secrity

of yor lo(ed ones' In fact, yor sa(in#s fro" yor ti"e o(erseas can !e easily

channelised to "eet yor fa"ilyJs needs + no% and in the ftre' So, %hether its yor

drea" to retire in yor ho"eto%nF to secre fnds for yor childrenJs edcationF or to

!ild assets, ICICI Prdential has a ran#e of soltions that can !e csto"i?ed to "eet

yor needs'

In(est"ent Plans

Sa(in#s Plans

/etire"ent Plans

Child Plans

I&+'6+& P)&':

Go can hed#e yor in(est"ents %ith in(est"ent li)e LifeLin) II (ehicles that

pro(ide yo %ith a di(ersified portfolio'

S),&5' P)&':

Endo%"ent policies are a #ood %ay of pttin# aside yor sa(in#s today for a ftre

#oal + %hether itJs to !y a hose in India or fnd yor entreprenerial (ision' Or

sa(in#s+oriented policies are desi#ned to "a)e yor sa(in#s #ro% and ha(e the"

a(aila!le to yo at the end of a fied n"!er of years or thro#h the ter" of the plan'

liii

P)&' 34r NRI'
http://www.iciciprulife.com/ipru/nriplan1.jsp#ahttp://www.iciciprulife.com/ipru/nriplan1.jsp#bhttp://www.iciciprulife.com/ipru/nriplan1.jsp#chttp://www.iciciprulife.com/ipru/nriplan1.jsp#dhttp://www.iciciprulife.com/ipru/investment1.jsphttp://www.iciciprulife.com/ipru/nriplan1.jsphttp://www.iciciprulife.com/ipru/nriplan1.jsphttp://www.iciciprulife.com/ipru/nriplan1.jsp#ahttp://www.iciciprulife.com/ipru/nriplan1.jsp#bhttp://www.iciciprulife.com/ipru/nriplan1.jsp#chttp://www.iciciprulife.com/ipru/nriplan1.jsp#dhttp://www.iciciprulife.com/ipru/investment1.jsp


64/123

S+*(r+ P(' " an insrance plan that #i(es added protection sa(in#s and "ltiple

options, all in oneX

C)'0 P(' " an insrance plan that #i(es added protection sa(in#s, "ltiple

options, pls the po%er of li>idity'

L,3+T,6+ II+ a co"plete "ar)et+lin)ed insrance plan that adapts itself to yor

chan#in# protection and in(est"ent needs, thro#hot a lifeti"e'

S)+&Pr4+* " a traditional endo%"ent sa(in#s plan that offers !oth hi#h

retrns and protection'

C)'0B)7 " an endo%"ent sa(in#s plan that allo%s yo to #et !ac) s!stantial

sr(i(al !enefits %ithot ha(in# to %ait till the "atrity date'

Pr+6,+r L,3+" A "ar)et lin)ed insrance plans that "eets yor In(est"ent and

Protection needs'

R+,r+6+& P)&':

Many of s pictre orsel(es en


65/123

S+*(r+ P(' P+&',4& :A re#lar pre"i" deferred pension plan that #i(es yo the

flei!ility to choose !et%een 8 le(els of s" assred for the sa"e le(el of total annal

contri!tion'

L,3+L,&7 P+&',4& II:A sin#le pre"i" lin)ed deferred pension plan that #i(es yo

the freedo" to choose the a"ont of pre"i", and in(est in "ar)et+lin)ed fnds, to

#enerate potentially hi#her retrns'

F4r++r L,3+; A re#lar pre"i" deferred pension plan that helps yo sa(e for yor

retire"ent %hile pro(idin# yo %ith life insrance protection'

C0,- P)&':

As a responsi!le parent, yo %ant to ensre a hassle+free, sccessfl life for yor

child' Ho%e(er, life is fll of ncertainties and e(en the !est+laid plans can #o %ron#'

S"artidEdcation Plans are desi#ned to pro(ide flei!ility and to safe#ard yor

childJs ftre edcation and lifestyle, ta)in# all possi!ilities into accont' S"artid

Child Plans has a !o>et of three prodcts %hich can help yo secre yor child@s

edcation'

=nit+lin)ed /e#lar Pre"i"

=nit+lin)ed Sin#le Pre"i"

/e#lar Pre"i" S"artid

l(
http://www.iciciprulife.com/ipru/rplan2.jsphttp://www.iciciprulife.com/ipru/rplan3.jsphttp://www.iciciprulife.com/ipru/rplan4.jsphttp://www.iciciprulife.com/ipru/childplan1.jsphttp://www.iciciprulife.com/ipru/rplan2.jsphttp://www.iciciprulife.com/ipru/rplan3.jsphttp://www.iciciprulife.com/ipru/rplan4.jsphttp://www.iciciprulife.com/ipru/childplan1.jsp


66/123

K+?6)& I&'(r)&*+ P)&':

A )ey"an is an indi(idal %ho directly affects the profita!ility and the continity of a

!siness and %hose a!sence "ay ha(e an ad(erse effect on the health and continity

of the !siness' ey"an insrance is a life insrance policy ta)en !y the co"pany on

the life of sch a )ey person'

The o!


67/123


68/123

contines till "atrity' Pre"i"s paid nder this rider are eli#i!le for ta !enefits

nder Section 72D'

M)94r S(r5,*) A'',')&*+ R,-+r:

This rider pro(ides assistance to the policyholder a#ainst 08 sr#ical procedres'

These sr#ical procedres are di(ided into 8 cate#ories and the etent of assistance

pro(ided depends on the type of procedre'

Ma


69/123

A**,-+& D,')8,,? B+&+3, R,-+r:

B+&+3,' 1)?)8+ 4& -+)0 -(+ 4 )& )**,-+&

If the policyholder dies de to an accident, 622 of the rider s" assred is paid

in addition to the !asic s" assred'

In case the policyholder dies in a land srface, "ass p!lic transport syste"

%herein the policyholder %as tra(elin# as a fare+payin# passen#er, then .22 of

the rider s" assred is paid'

&enefits paya!le in case of per"anent disa!ility de to an accident

If the policyholder sr(i(es an accident !t !eco"es per"anently disa!led then

the pre"i" for the !asic plan is co"pletely %ai(ed off to the etent of the rider

s" assred'

Pls, 62 of the rider s" assred is paid for the net 62 years, %hich helps in

pro(idin# that etra "oney and ta)es care of sdden financial set !ac) that occrs

after a tra#ic disa!ility'

Accident $ Disa!ility &enefit rider is a(aila!le %ith Sa(e n@ Protect, Cash !ac),

S"art id, Child Plans, Pre"ier Life, Life Ti"e, Life Ti"e II, Life Ti"e Pension II,

-ore(er Life, Secre Pls, Cash Pls, Secre Pls Pension, Life ard /OP, Life

ard W/OP, rop Ter" Plan, In(est Shield Life, In(est Shield Cash, In(est Shield

old and In(est Shield Pension ' In case of Lifeti"e II, Lifeti"e Pension II, Secre

Pls, Cash Pls, Life ard /OP and

Life ard W/OP, the %ai(er of pre"i" !enefit is not a(aila!le'

Pre"i"s paid nder this rider are eli#i!le for ta !enefits nder Section 77'

li


70/123

A**,-+& B+&+3, R,-+r:

If the policyholder dies de to an accident, 622 of the rider s" assred is paid in

addition to the !asic s" assred'

Accident &enefit rider is a(aila!le %ith Sa(e n@Protect, Cash&a), S"art id re#lar

pre"i", -ore(er Life, Secre Pls, Cash Pls and Secre Pls Pension'


I&*46+ B+&+3, R,-+r:

In case of death of the life assred drin# the ter" of the policy, 62 of the rider s"

assred is paid annally to the !eneficiary, on each policy anni(ersary till "atrity of

the rider'

Inco"e &enefit rider is a(aila!le %ith S"art id Child Plans, Secre Pls and Cash

Pls'


W),+r 43 Pr+6,(6 R,-+r WOP:

On total and per"anent disa!ility de to an accident, all ftre pre"i"s for !oth the

!ase policy and rider1s3 %ill !e %ai(ed till the end of the ter" of the rider or death of

the life assred, if earlier' Wai(er of Pre"i" rider is a(aila!le %ith Secre Pls,

Cash Pls, Life#ard /OP, Life ard W/OP, S"art id =nit+lin)ed re#lar

pre"i" II, Lifeti"e II, Life Ti"e Pension II, Secre pls Pension, In(est Shield

Life, In(est Shield Cash and In(est Shield Pension'


l


71/123

CHANNEL DE;ELOPMENT

Why to recrit

Who to recrit

Ho% to recrit

/ecrit"ent acti(ities

What to chec) %hile %e are recritin#

/ole of ad(isor

Wor)in# en(iron"ent

Do yo possess

Spport pac)a#e for scccessfl ad(isor

Etensi(e trainin# for sccessfl ad(isor

Etensi(e in(est"ent in ad(isor trainin#

Pay"ent $ !enefit co""ission strctre

/eco#nition pro#ra"s

Icici pr star cl! !enefit

Career pro#ression $ ftre opportnities

li


72/123

W0? T4 R+*r(,

There are t%o aspects of e"ploy"ent in the insrance sector today' One is Per"anent

E"ploy"ent, for sales, operation, IT spport, !ac) office ser(ices and So on' We are also

offerin# the other )ind of e"ploy"ent for people to sell Life Insrance they are called

QLife Ad(isors@' Or Q-inancial Ad(isors@' This is a !i# area of e"ploy"ent'

&ecase %e are spposed toXX

That the %ay to do this !siness'

More recrits, "ore acti(e ad(isors, "ore &DA

W04 4 R+*r(,

Bality Deptt' has #i(en so"e indicators in ter"s of %hat are the co""on traits 1B+

SCO/E3 of or sccessfl ad(isors+

T0+ *4664&),,+' +r+

A5+ : !et%een 82 +0

E-(*),4& : #radate

F)6,? I&*46+ : a!o(e /s' . lacs p'a'

The i"portant fact to re"e"!er is that 6 of or /ED cate#ory ad(isors do not fall

into any of this cate#ory'

This is a !road pointer for s to re"e"!er %hat are the hisher profile

So"e other pointer fro" Bality

Most of the /ED cate#ory ad(isors -AILED in the DISC profile %hich

"eans that DISC is #ood indicator of chanced of sccess or failre

lii


73/123

Sccessfl ad(isors sally ha(e . years of %or) ep' In their crrent

profession

S"all ti"e !siness"en entrepreners (' sccessfl profile

Wo"enHose%i(es are (ery sccessfl+ ho%e(er they ha(e not !een

sstaina!le o(er lon# periods' They sally ha(e !eco"e inacti(e after 5

"onths of


74/123

A+r)5+ Pr43,+

Wo"en

Stdents

/S retired Personnel

A4,-)8+ Pr43,+'

Ne% to the City

Inco"e Profile Appro /s'6 Lac P'A'

People %ho do not o%n their transport

THE MOST SUCCESSFUL PROFILE The Person Who Has &een Mana#ed Well

&y Go'

H4 4 R+*r(,

Thin#s %hich yo shold ha(e %hile "eetin# the prospect'

&OP Presenter'

/e%ard points !oo)let O/ ta)e a copy of the catalo# fro" the %e!site sho% the

#ifts, a prospect %oldn@t nderstand points, !t %ill (ale the #ifts'

Ad(isor Manal + can sho% ho% the "anal can ans%er "any procedral isses'

Tal) a!ot e"ail id $ tech spport the prospect %old li)e to )no% %hat all ill

the co"pany #i(e

My Mar)et sho% 622 sho% the !oo)let and stress its i"portance'

Copy of any certificate MD/T certificates, Sales Cha"pion certificate etc to

sho% reco#nition'

Insist on doin# the &OP presentation it #i(es a co"plete pictre of %hat yo

ha(e to present $ ans%ers a lot of >estions'

li(


75/123


76/123


77/123

S46+ 64r+ )?' 4& 04 4 r+*r(,:

Data!ase Attac) can !e done thro#h a trainee'

Cold Callin# helps a lot as the respondent does not %aste yor ti"e !y dilly

dallyin#'

/WA Acti(ities Ta"!ola or children paintin# co"petition+ #i(es real ti"e

leads, cost effecti(e per lead'

Loo) at le(el M&A colle#es for Pinnacle pro!a!le'

Sorce local data!ases Ca!le T Ser(ice pro(iders, ho"e deli(ery caterers'

-ish &o%l Acti(ity+ in hi#h foot!all places'

T0,&5' 4 *0+*7 0,+ r+*r(,,&5:

ENE/G, ENE/G al%ays chec) the person@s ener#y le(els, as this career is all

a!ot "eetin# ne% people, findin# ne% prospects and "ore so handlin# re


78/123


79/123

W4r7,&5 +&,r4&6+&:

To !e part of a %orld class sales tea"'

Wor) fro" yor o%n office or residence'

Wor) fll ti"e or part ti"e'

Earn co""ission, !ons incenti(es'

No pper li"its in earnin#s'

-lei!le career'

Y4(r 4114r(&,?:

No startp capital re>ired'

-lei!le %or)in# en(iron"ent'

&e yor o%n !oss'

=nli"ited earnin# potential'

To !e part of %orld + class tea"'

li


80/123


81/123

S46+ 43 4(r 0,50 1+r34r6+r' 5+.

GEA/ 6 GEA/ . GEA/ 8

N"!er of policies sold 2 5 622

A(era#e Pre"i" /s' 6222 6222 6222

Total pri"i" earned /s'722222

6.22222 622222

A(era#e co""ission incldin#!onses esti"ates : ..' 672222

.52222 82222

Earnin#s fro" ne% !siness /s 672222 .52222 82222

Co""ission on rene%al pre"i":

07222 5.222

-or year .,8 $ 8 after that 07222

Earnin#s fro" rene%al !siness/s

07222 6.2222

Total earnin#s /s' 672222 867222 072222

Dependin# on the prodct "i co""ission can #o pto 8 in of first year,

5' in the .nd year $ 8rd year $ 0th year on%ards

li
mailto:[email protected]%25mailto:[email protected]%25


82/123

R+*45&,,4& 1r45r)6':

-orei#n trips $ se"inars'

Select cl! "e"!erships;

President@s cl!'

ICICI Pr star cl!'

MD/T Me"!ership'

C)r++r 1r45r+'',4& 3((r+ 4114r(&,,+':

Eclsi(e pro#ra" for hi#h potential achie(ers'

Hand pic)ed ad(isors'

A fast trac) career path'

/eco#nition as *Ti#er *

Contine doin# yor !siness'

Criteria'

+A#e . 02 years

+At least 6 year in syste"

+Case cont . per "onth

Part ti"e career as a Trainer'

Condct fondation pro#ra"s'

Share !est flied practices'

/eplicate yor !siness'

Contine doin# yor !siness'

Criteria'

+A#e .+0 years

lii


83/123

+At least "onths s in syste"

+ . case cont per "onth

F)' r)*7 1,&&)*+ 1r45r)66+':

A fll ti"e career as adit "ana#er

ro%th %ithin ICICI Prdential

reater earnin# potential

Personal De(elop"ent

Perfor"ance criteria

+A#e .+0 years

+At least "onth in syste"

+82 issance %ithin "onths

P,&&)*+ 1r45r)66+':

A fll ti"e career as a nit "ana#er

ro%th %ithin ICICI prdential

reater earnin# potential

Personal De(elop"ent

Perfor"ance criteria

+A#e .+0 years

+At least 6 year in syste"

+A(era#e . case cont per "onth

liii


84/123


85/123

Chapter)*Resear&h +etho'olo,(

M+04-445?: The research is a for"al eploratory stdy to %or) on "aestionnaire for different #rops of respondents' Bestionnaire has

!een floated a"on# respondents to collect data' Atte"pts ha(e !een "ade to contact

and condct in depth inter(ie% %ith concerned persons'

Pr,6)r? -)): Pri"ary data has !een collected thro#h inter(ie% sessions and

>estionnaire sr(eys in NC/ Delhi

S)61+ ',+: 622

S)61+ )r+): NC/ Delhi

S)61+ U&,: Csto"ers of insrance prodcts $ officials of ICICI Prdential in the

tar#et area

S)61,&5 6+04-: /ando" sa"plin# "ethod has !een e"ployed to collect the

sa"ple for the research

S),',*) 44': Si"ple statistical tools li)e ta!lation, !ar dia#ra"s, pie charts

ha(e !een sed to analy?e the collected data

l(


86/123

S*41+ 43 T0+',':The scope of the research at cons"er end is li"ited to the areas

in Delhi and for co"pany perspecti(e it is li"ited to %ithin the co"pany and its

people' Pri"ary data is collected thro#h floatin# >estionnaire a"on# csto"ers and

co"pany officials' In case of Secondary data, it has !een collected !y co"pany@s

official %e!sites, and !y co"parin# it %ith I/DA report,


87/123

Chapter -Data Anal(sis

l(ii


88/123

l(iii


89/123

F,&-,&5

A&)?',':

In the ICICI Pr "ai"" Ad(isors are %or)in# !et%een one to t%o years' The

findin#s sho% the ad(isors #ro%th in the co"pany'

c(ii


98/123

F,&-,&5' #

A&)?',':

The findin#s sho%s that "ai"" Ad(isors %or)in# and %or)ed in other co"panies

then they ha(e "ai"" eperience in sales fields'

c(iii


99/123


100/123

M),& Pr43+'',4& 43A-,'4r'

8%3%

22%

3%

11%3%0%

50%

Engineer Doctor CA/ICWA/CFA/CS Lawer

!eacher "#A #u$ine$$man ther$

F,&-,&5'


101/123

F,&-,&5'


102/123


103/123

F,&-,&5'


104/123

F,&-,&5' alification' Most of

the" are #radate and post #radate'

F,&-,&5'"sho%s, !ecase 6 ad(isors are "arried so the dependent person on

the" are sa"e'

F,&-,&5'"!sho%s "ost of the ne% ad(isors are en#a#ed in different fields' So"e are

#o(t' e"ployee, so"e are en#a#ed in pri(ate ser(ice and so"e ha(e their o%n

!siness'

F,&-,&5'">All "ost 2 of the ne% ad(isors #i(e fll ti"e to their profession' This

sho%s ho% ne% ad(isors are dedicated to%ards their ne% profession'

ciii


114/123

F,&-,&5'"#Most of the ne% ad(isors ha(e a (ery #ood fa"ily spport' The annal

fa"ily inco"e of "ost of the ne% ad(isors are o(er 62,222 %hich is (ery

encora#e"ent

F,&-,&5'"=Most of the ne% ad(isors !elon#s to a "iddle inco"e #rop so they are

not in a position to


115/123

S.OT ANAL/SIS

STRENGTH:

Mlti+channel distri!tion and one of the lar#est distri!tion net%or)s in India'

I"ple"entin# Si+Si#"a process'

Csto"er centric prodcts and ser(ices'

Sperior in(est"ent and ris) "ana#e"ent fra"e%or)

6 Million Policies sold %ithin 8 and half years'

Co"pany has "ai"" n"!er of MD/T as %ell as #ood n"!er of HNI

ad(isors'

Trainin# process of the co"pany is (ery stron#'

Different plan for different peoples

Accordin# to the chan#e in srrondin# en(iron"ent li)e chan#es in csto"er

re>ire"ent'

c(


116/123

WEAKNESS:

COMPANG does not penetrate on the rral "ar)et at a ti"e'

There is no plan for the lo% inco"e #rop'

-ees for the ad(isor is hi#h than the other co"pany'

OPPORTUNITY:

Insrance "ar)et is (ery !i#, %here co"pany can epand its hori?on in

insrance indstry'

Tho#h #ood in(est"ent and insrance it is easy to top Indian csto"ers'

The h#e insrance "ar)et 1553 is left so co"pany has opportnity to

epand or prodcts'

To associate %ith the "ore n"!er of HNI'

THREATS:

QOLD HA&ITS DIE HA/D@; Its still difficlt tas) to %in the confidence of

p!lic to%ards pri(ate co"pany'

The co"pany is facin# "a


117/123

Chapter 0Con&lsion

The "ar)et potential for pri(ate insrance co"panies is fond to !e #reater in the

lon# rn as "ost of the Indians are of the opinion that, pri(ate insrance co"panies

%old !e a!le to perfor" %ell in the ftre' The pri(ate and forei#n insrance

co"panies ha(e to ta)e i""ediate steps in appointin# "ore n"!er of a#ents andor

ad(isors in addition to the e"ployees as it has !een fond ot that a#ents are the !est

channel to reach the #eneral p!lic re#ardin# sellin# of insrance prodcts' The

pri(ate and forei#n insrance co"panies ha(e to concentrate on the factors li)e

JPre(ention of LossJ, JAssred /etrnsJ and JLon# ter" In(est"entJ' They can also

focs on an insrance a"ont of /s' 6 . la)hs %ith J"oney !ac) policiesJ' Hence,

the "ar)et has potential' The pri(ate and forei#n insrance co"panies that are ta)in#

i""ediate steps can tap it easily $ rapidly'

c(ii


118/123

Chapter Biblio,raph(

*/ESEA/CH METHODOLOGR;+ DEEPA &HATTACHA/GA

* ECONOMIC ENI/ONMENT O- &=SINESSR;+ -/ANCIS

CHE/=NILLAM

WWW'ICICIP/=LI-E'COM

AAILA&LE COMPANG &/OWCH=/ES'

c(iii
http://www.iciciprulife.com/http://www.iciciprulife.com/


119/123

APPENDI3UESTIONNAIRE

O89+*,+: + To no% the perception of indi(idal re#ardin# ICICI prdential and

a%areness re#ardin#

P)r I

6' Na"e ZZZZZZZZZZZZ' .' Address ZZZZZZZZ

8' Tel' No' Mo!' No ZZZZZZZZZZZZZZZZZZZZ'''

0' E+"ail ZZZZZZZZZZZZZZZZ''

' A#e ZZZZZZZZZZZZZ ' Se 1M-3ZZZZZZZ''

5' Marital Stats ZZZZZZZZZZZZZZZZZZZZZZ''

7' No of Dependent ZZZZZZZZZZZZZZZZZZZZZ'

4' Balification; + ZZZZZZZZZZZZZZZZZZZZZZ

.< O**(1),4&:

1a3 Stdent 999 1!3 o(t' Ser(ice 9999

1c3 &siness 999 1d3 P(t' Ser(ice 9999

1e3 Hose Wife 999 1f3 Other 1Specify3ZZ'

.2 A&&() I&*46+:"

1a3 [ 6, 22,222 999 1!3 6, 22,222 ., 22,222 999

1c3 ., 22,222+0, 22,222 999 1d3 A!o(e 999

ci


120/123

.$ Ar+ ?4( )''4*,)+- ,0 )&? C(8 4r S4*,) Or5)&,),4& Y/N...

.@ Ar+ ?4( I&+r+'+- ,& +)r&,&5 +r) ,04( I&+'6+& Y/N

. D4 ?4( 0)+ )&? ,&'(r)&*+ 14,*? Y/N

.! Ar+ ?4( '),'3? ,0 ?4(r 1r+'+& ++ 43 r+(r& Y/N

.> D4 ?4( ,7+ 4 0)+ 8++r ,&+'6+& )&- 8++r '+r,*+ Y/N

.# H)+ ?4( 0+)r- )84( 0+ -,33+r+& ,&+'6+& 1)&' 433+r+- 8?

ICICI

.= Ar+ ?4( ))r+ )84( ULIP 43 ICICI Pr(-+&,)

1a3 Ges 999 1!3 No 999

B'62 If Ges specify the sorce %hich "ade yo a%are a!ot it

1a3 Tele(ision 999 1!3 Ne%s Paper Ma#a?ine 999

1c3 Lip Ser(ice 999 1d3 Internet 999

1e3 &anner Po"p lets Hoardin#s 999

B'66 If yo #ot an opportnity to ta)e an insrance policy %ith any of these

Co"panies %ho %old yo prefer;+

1a3 ICICI 999 1!3 &a


121/123

P)r II

O89+*,+: " T4no% the perception of indi(idal re#ardin# %or)in# as an ad(isor

for ICICI 1r(-+&,)and a%areness re#ardin#

.< O**(1),4&:

1a3 Stdent 999 1!3 o(t' Ser(ice 9999

1c3 &siness 999 1d3 P(t' Ser(ice 9999

1e3 Hose Wife 999 1f3 Other 1Specify3ZZ'

.2 A&&() I&*46+:"

1a3 [ 6, 22,222 999 1!3 6,22,222 .,22,222 999

1c3 ., 22,222+0,22,222 999 1d3 A!o(e 999

.$ Ar+ ?4( )''4*,)+- ,0 )&? C(8 4r S4*,) Or5)&,),4& Y/N

.@ Ar+ ?4( I&+r+'+- ,& +)r&,&5 +r) ,04( I&+'6+& Y/N:

. D4 ?4( 0)+ )&? ,-+) )84( +)r&,&5 43 ) F,&)&*,) A-,'4r

1a3 Ges' 999 1!3 No 999

ci


122/123

.! D4 ?4( 7&4 )&? 4&+ 04 ,' ,&+r+'+- ,& +)r&,&5 +r) 0r4(50 1)r ,6+

4r7

1a3 Ges' 999 1!3 No 999

B'5 Are yo Interested in any of this field ;+

1a3 Insrance 999 1!3 IT 999

1c3 &an)in# 999 1d3 Teleco" 999

.# I3 ?4( 54 )& 4114r(&,? 4 4r7 ,0 )&? 43 0+'+ C461)&,+' 04 4(-

?4( 1r+3+r;+

1a3 ICICI 999 1!3 &a


123/123

.

Icici Final Report Kapil

Documents

Transcript of Icici Final Report Kapil