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    ICICI Prudential Life Insurance: Presented By: Rakesh Beriwal

    Uploaded by

    Dipesh Vaishnav
    ICICI Prudential Life Insurance Company was established in 2000 as a joint venture between ICICI Bank and Prudential Plc. It offers a variety of insurance products including term life insurance, wealth insurance, child insurance, health insurance, retirement plans, and group insurance. It has over 2100 branches and 1,116 micro-offices. Products are targeted at different demographic and socioeconomic segments across urban and rural India. The company distributes its products through agency channels, bancassurance partners, brokers, and direct digital channels. It has a workforce of over 13,000 professionals to service its customers.

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    ICICI Prudential Life Insurance: Presented By: Rakesh Beriwal

    Uploaded by

    Dipesh Vaishnav
    40 views19 pages
    ICICI Prudential Life Insurance Company was established in 2000 as a joint venture between ICICI Bank and Prudential Plc. It offers a variety of insurance products including term life insurance, wealth insurance, child insurance, health insurance, retirement plans, and group insurance. It has over 2100 branches and 1,116 micro-offices. Products are targeted at different demographic and socioeconomic segments across urban and rural India. The company distributes its products through agency channels, bancassurance partners, brokers, and direct digital channels. It has a workforce of over 13,000 professionals to service its customers.

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    ICICI Prudential Life Insurance Company was established in 2000 as a joint venture between ICICI Bank and Prudential Plc. It offers a variety of insurance products including term life insurance, wealth insurance, child insurance, health insurance, retirement plans, and group insurance. It has over 2100 branches and 1,116 micro-offices. Products are targeted at different demographic and socioeconomic segments across urban and rural India. The company distributes its products through agency channels, bancassurance partners, brokers, and direct digital channels. It has a workforce of over 13,000 professionals to service its customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    40 views19 pages

    ICICI Prudential Life Insurance: Presented By: Rakesh Beriwal

    Uploaded by

    Dipesh Vaishnav
    ICICI Prudential Life Insurance Company was established in 2000 as a joint venture between ICICI Bank and Prudential Plc. It offers a variety of insurance products including term life insurance, wealth insurance, child insurance, health insurance, retirement plans, and group insurance. It has over 2100 branches and 1,116 micro-offices. Products are targeted at different demographic and socioeconomic segments across urban and rural India. The company distributes its products through agency channels, bancassurance partners, brokers, and direct digital channels. It has a workforce of over 13,000 professionals to service its customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    ICICI Prudential Life

    Presented by:
    Rakesh beriwal

    Insurance

    About the Company:

    Established July 2000


    First Policy floated on December 2000
    A Joint Venture of ICICI Bank and Prudential Plc
    ICICI is the leading private bank in India,
    Headquartered in Mumbai
    Prudential Plc is a leading international financial
    service group headquartered in United Kingdom
    No. of Branches: 2100
    Micro-offices: 1,116
    No. of Bancassurance Partners: 18

    PRODUCTS
    Term life insurance:TermInsurancePlansaredesignedtoensurethatintheeventofthepolicyholders
    death,thefamilygetsthesumassured(thecoveramount).
    4 stepclaimprocess:
    IntimationofclaimtoICICIPrudentialLife
    ICICIPrudentialLifetohelptheclaimanttocompletethedocumentation
    Claimanttosubmittherequireddocuments
    ICICIPrudentialLifetotakedecisionontheclaim

    Wealth insurance: Wealthinsuranceensuresthatyoureceivealumpsumamountofmoneyatthematurityof


    thePolicy.Intheunfortunateeventofdeathduringthetermofthepolicy,yourfamilyreceiveslumpsumamount,
    calledtheSumAssured.Thusitcombinesthebenefitsofprotectionandsavinginasingleinstrument.

    Child insurance

    : Educationsolutionsensurescomprehensivefinancialplanningforyourchildseducation/

    developmentalneeds..Itoffersfinancialprotectiontoyourchildsfutureintheunfortunateeventofyourdeath.

    details of policies
    POLICY NAME

    AGE

    ICICI Pru iCare

    PREMIU
    M

    TERM

    BENEFITS

    18 - 65 Rs 3,000
    years

    5-30 years

    Premium paid towards the


    policy will be eligible for tax
    benefits u/s 80C of the
    Income Tax Act, 1961 2

    ICICI Pru Pure


    Protect

    18 / 65 Rs. 2,400
    years
    p.a.

    10 / 30
    years

    any benefit amount received


    under this policy will be
    eligible for the tax benefit
    under section 10 (10D), as
    per prevailing Income Tax
    laws

    ICICI Pru
    LifeGuard

    18 / 65 Rs. 2,400
    years
    p.a.

    10 / 30
    years

    In case of total and


    permanent disability due to
    an accident, this rider would
    waive future premiums till
    maturity.

    ICICI Pru Home


    Assure

    18 / 60 Rs. 6,000
    years
    p.a.

    2-30 years

    On the death of the life


    assured, the benefit based
    on the initial loan schedule
    will be payable.

    ICICI Pru iAssure 8-70


    Single Premium years

    Rs.
    20,000

    5 or 10
    years

    Tax benefits u/s 10(10D) will


    not be available and benefits
    received under the policy
    will be taxable

    ICICI Pru

    18,000

    15 Years

    You have a choice of


    paying premiums for

    30

    details of policies

    cont..

    POLICY
    NAME

    AGE

    PREMIUM

    TERM

    BENEFITS

    ICICI Pru
    Whole Life

    0 / 60 years

    Rs. 6,000 per


    annum

    Whole life

    Life cover,
    Wealth
    creation,
    Additional life
    cover, Avail of
    tax benefits

    ICICI Pru
    Save'n'Protect

    0 / 60 years

    Rs. 6,000 p.a. 10 / 30 years

    Accident and
    Disability
    Benefit Rider,
    extended cover
    for 5 years
    after maturity
    of the policy

    ICICI Pru
    CashBak

    16 / 70
    years

    Rs. 6,000 p.a. 15 / 20 years

    Survival
    Benefits, Death

    ICICI Pru
    SmartKid
    Regular
    Premium

    0 / 25 years
    20 / 70
    years

    Rs. 8,400 p.a

    benefit,
    Accident and
    Disability
    Benefit Rider

    10 / 25 years

    Benefits at
    critical
    educational
    milestones,gua
    rantees a
    regular income

    segmentation
    POLICY NAME

    Demographic

    Socio-Economic

    Geographic

    ICICI Pru iCare

    18-60yrsabove

    Lower middle
    class and above

    Urban and rural


    india

    ICICI Pru Pure


    Protect

    18-60yrsabove

    Lower middle
    class and above

    Urban and rural


    india

    ICICI Pru
    LifeGuard

    18-60yrsabove

    Lower middle
    class and above

    Urban and rural


    india

    ICICI Pru Home


    Assure

    18-60yrsabove

    Upper middle
    class and above

    urban

    ICICI Pru iAssure


    Single Premium

    1-60yrsabove

    upper middle
    class and above

    urban

    Upper middle
    class and above

    urban

    25-50yrs
    ICICI Pru
    Guaranteed
    Savings Insurance
    Plan

    segmentation
    POLICY NAME

    Demographic

    Socio-Economic Geographic

    ICICI Pru Whole


    Life

    1-60yrsabove

    Upper middle
    class and above

    urban

    ICICI Pru
    Save'n'Protect

    1-60yrsabove

    Upper middle
    class and above

    urban

    ICICI Pru
    CashBak

    18-60yrsabove

    Upper middle
    class and above

    urban

    1-60yrs
    ICICI Pru
    SmartKid Regular above(childrenand
    parents)
    Premium

    Upper middle
    class and above

    urban

    5-18yrsabove
    ICICI Pru
    SmartKid Premier

    Upper middle
    class and above

    urban

    HEALTH INSURANCE
    Policy Name

    Age

    Benefit

    Cover

    ICICI Pru Health

    25 - 55

    Policy Holder
    dependent

    All problems
    that require
    hospitalization
    and Critical
    Illness

    ICICI Pru
    Hospital Care II

    01 - 65

    Policy Holder
    dependent

    All problems
    that require
    hospitalization

    ICICI Pru Crisis


    Cover

    18 - 60

    Upto 20 lakh

    35 MAJOR
    ILLNESS

    Segmentation
    Policy Name

    AGE
    (Demographic)

    Social
    Class
    (Psychographic
    )

    Attitude
    Towards
    Product
    (Behavioral)

    ICICI Pru Health

    25 55

    Working Class

    Positive

    ICICI Pru
    Hospital Care II

    01 - 65

    Upper Class

    Highly Positive

    ICICI Pru Crisis


    Cover

    18 - 60

    Working
    Class

    Low Postivity

    RETIREMENT PLANS
    Name

    Age (At
    entry)

    Minimum
    Annuity

    Maximum
    Cover *

    ICICI Pru
    Immediate
    Annuity

    45 100
    years

    Rs 12000

    Not
    Defined

    Choose a one time lump sum amount that you will pay in order to
    purchase this plan
    Segmentation
    Product is target to Service Middle Class and not for Deprived
    Income Group ( less then Rs 90,000)

    ULIPS Unit Link Insurance Plans


    Freedom to choose your life insurance cover (Decide the
    percentages)
    Freedom to choose your investment type (Equity or Bonds)
    Flexibility of additional investment (Top ups)
    Goal based planning
    Retirement
    Wealth
    Child
    Health
    Segmentation
    Product is target to people who has slightly negative approach
    towards the products (Behavioral Segmentation)

    Group plans
    Retirement solution

    Protection solution

    Annuity Solutions

    Group Gratuity Plan

    Group Leave Encashment Plan

    Group Term Insurance


    Plan
    Credit Assure Utility

    RURAL PLANS
    Underserved segment
    2.5 million lives across as many as 16 states in India.
    Sarva Jana Suraksha and Anmol Nivesh are tailored to meet the unique
    requirements of rural investors.
    The plans offer Life cover, low and affordable premiums.

    Segmentation
    Products

    Age

    Socio-economic

    Geographic

    GroupGratuityPlan

    18-60

    Workingclass

    urban

    Groupleave
    encashmentplan

    18-60

    Workingclass

    urban

    AnnuitySolutions

    45-80

    Workingclass

    urban

    GroupTerm
    InsurancePlan

    18-70

    Workingclass

    urban

    CreditAssureUtility

    18-60

    Workingclass

    urban

    SarvaJanaSuraksha

    18-55

    Farmers/lowerincome

    Rural

    18-50

    Farmers/lowerincome

    Rural

    AnmolNivesh

    Distribution: 2 Factors
    Personal Distribution System:
    Includes all channels like distribution
    agencies of different models and
    brokerages, bancassurances and
    work site marketing
    Direct Response Distribution
    System:
    A method whereby the client
    purchases an insurance directly

    Distribution

    Team Size: 13,000 Professionals


    Distribution Touch Points: 5,000
    Advisors:175,000
    Customer Service Touch Points: 10,000

    Grievances:
    Call-Centres, Branches, E-mail, Letter & Web
    Grievance Redressal Officer
    Senior Management Grievance Redressal Offi
    Grievance Redressal Committee

    Flow Chart Depicting Service flow of ICICI Prudentia

    ICICI Prudential
    Branch

    Service Being
    Divided by
    customer

    Attended by
    executive

    Queries Being
    Asked

    Convincing the
    Person

    Removing any
    Misconceptions

    Efforts made
    to provide
    solutions

    Efforts made
    to know
    interest

    Ending with

    Solving the
    query/closing
    the deed

    Creating liking
    for the Product

    THANK YOU !!!

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