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    SUBMITTED TO: SUBMITTED BY:

    DR.RAGHBIR SINGH KANIKA KHOSLA

    ROLL NO. 1052

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    INTRODUCTION REVIEW OF LITERATURE ABOUT IRDA COMPANY PROFILE

    COMPANY PRODUCTS OBJECTIVES OF THE STUDY RESEARCH METHODOLOGY LIMITATIONS OF THE STUDY SWOT ANAYSIS ANALYSIS AND INTERPRETATION FINDINGS SUGGESTIONS

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    WHAT IS LIFE INSURANCE? Insurance is an agreement that guarantees

    the payment of a stated amount of

    monetary benefits at the end of specifiedterm or on the death of life insured.

    Factors affecting insurance cost

    Age

    Health income

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    Financial security Familys protection

    Childs education

    Savings Retirement

    health

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    ADVENT OF EAST INDIA COMPANY

    ORIENTAL COMPANY,1818

    INSURANCE ACT,1870

    NATIONALISATION OF LIFE INSURANCE,1956

    PRIVATISATION,1991

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    ICICI prudential lifeinsurance company is ajoint venture between ICICIbank and prudential plc.

    ICICI bank holding a stakeof 74% and prudential plc

    holding 26%. Began operations in 2000. 2100 branches. 1,116 micro offices. 2,90,000 advisors. 18 bancassurance partners.

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    Understanding needs

    Leveraging technology

    risk management

    Learning environment

    transparency

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    UNIQUE PAYERWAIVER BENEFIT(PWB)

    IN CASE OF DEATH OFPARENT, COMPANY PAYSALL FUTURE PREMIUMS ONBEHALF OF THE PARENT

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    ICICI Prudential GroupGratuity Plan

    ICICI Prudential GroupSuperannuation Plan

    ICICI Prudential GroupTerm Plan

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    FOREVER LIFE

    LIFETIME PENSION

    INVEST SHIELDPENSION

    SECURE PLUSPENSION

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    Accident &disability benefitAccident benefitMajor surgicalassistance benefitIncome benefitCritical illnessbenefitWaiver of premium

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    LIFE STAGE WEALTH ELITE WEALTH

    FUTURE SECURE

    PINNACLE SUPER WEALTH BUILDER

    WHOLE LIFE

    LIFETIME PREMIER

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    To understandcustomer attitude

    towards insurance

    and the company.

    To measuresatisfaction level

    of the customers.

    To create an

    image of the

    company.

    To determine the

    potential buyers.

    To understand

    the needs.

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    JUSTIFICATION

    TO IDENTIFY SHORTCOMINGS

    TO BE AWARE OF COMPANYS PROFILE

    TO CREATE EFFECTIVE DATABASE

    TO CREATE BRAND AWARENESS

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    DATA COLLECTING METHODS

    questionnaire

    interview

    Primary

    directory

    Database

    from internet

    secondary

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    Time constraint Limited study

    Some outdated telephone numbers

    Less interested respondents Wrong perception about private insurance co.

    Difficulty in getting appointment

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    2ndLargest ininsurancesector in

    India

    Initialpaid upcapital:

    150Crores

    Presentpaid upcapital:8114

    Crores

    No ofpolices:1 Million

    Premium:1584

    Crores

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    Non-governmentorganization -people arehaving more faith on L.I.C.Not reachable to the village

    area still.

    Most of the people are ofthe thought that private lifeinsurance company will not

    last for long and hence, theyprefer to invest in

    Government undertaking

    Slightly less brandawareness for brand of ICICI

    Prudential.

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    opportunities

    Biggestfinancialorganizationin India

    Over 76%people in Indianot

    insuranced

    Goodinfrastructure.

    Now daysmore peopleare conscious

    about theinsurance.

    threats

    competition heavymarketing.

    Rational

    decision

    making

    Monopolyof LIC

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    OVERALL AWARENESS RATE IN LIFE INSURANCE -MEDIUM

    AWARENESS RATE ABOUT THE CO.- 86%

    USAGE- 58%

    BRAND IMAGE- 25%

    PREFERRED INVESTMENT AREA- 36%

    RELIABILITY ON ANOTHER CUSTOMER VIEWS- 73%

    SATISFACTION RATE - 70%

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    Satisfactory services Good usage rate

    Slightly less awareness

    Low awareness in rural areas

    Less usage in lower income groups

    major competitor LIC

    Major reason for opting the co. is attractive

    policies

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    increase the awareness of insurance.

    concentrate on interest rates.

    introduce quality products.

    decrease the premium of the products.

    concentrate on rural areas.

    update the customers about changes

    Consider the middle level families

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    OVERALL BRAND IMAGE OF ICICI PRUDENTIALLIFE INSURANCE COMPANY IS AT NO. 1AMONG THE PRIVATE PLAYERS IN THEINDUSTRY.

    TO COMPETE WITH LIC IT NEEDS TO INCREASEBRAND AWARENESS

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