1. ICICI PRUDENTIAL LIFE INSURANCE
Presented by:
Anjali Purohit(11BSPHH010120)
Neha Malviya(11BSPHH010519)
Deep Shome(11BSPHH010252)
Prateek Bhayana (11BSPHH010598)
2. 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
•First Life Insurance Company to receive National Insurer
Financial Strength Rating of ‘AAA’(IND) from Fitch
Ratings.
•Also won ‘Most Trusted Brand’ & ‘Most Trusted Private
Life Insurer’ by The Economic Times-AC Nielson Org
3. PRODUCTS
Term life insurance: Term Insurance Plans are designed to ensure that in the event of the
policyholder’s death, the family gets the sum assured (the cover amount).
4 step claim process :
Intimation of claim to ICICI Prudential Life
ICICI Prudential Life to help the claimant to complete the documentation
Claimant to submit the required documents
ICICI Prudential Life to take decision on the claim
Wealth insurance: Wealth insurance ensures that you receive a lumpsum amount of money at
the maturity of the Policy. In the unfortunate event of death during the term of the policy, your family
receives lumpsum amount, called the Sum Assured. Thus it combines the benefits of protection and
saving in a single instrument.
• Child insurance: Education solutions ensures comprehensive financial planning for your child’s
education/ developmental needs.. It offers financial protection to your child’s future in the
unfortunate event of your death.
4. DETAILS OF POLICIES
POLICY NAME AGE PREMIUM TERM BENEFITS
ICICI Pru iCare 18 - 65 Rs 3,000 5-30 years Premium paid towards the policy
will be eligible for tax benefits u/s
years 80C of the Income Tax Act, 1961 2
ICICI Pru Pure 18 / 65 Rs. 2,400 10 / 30 any benefit amount received under
this policy will be eligible for the
Protect years p.a. years tax benefit under section 10 (10D),
as per prevailing Income Tax laws
ICICI Pru 18 / 65 Rs. 2,400 10 / 30 In case of total and permanent
disability due to an accident, this
LifeGuard years p.a. years rider would waive future premiums
till maturity.
ICICI Pru Home 18 / 60 Rs. 6,000 2-30 years On the death of the life assured,
the benefit based on the initial
Assure years p.a. loan schedule will be payable.
ICICI Pru iAssure 8-70 Rs. 20,000 5 or 10 Tax benefits u/s 10(10D) will not be
available and benefits received
Single Premium years years under the policy will be taxable
ICICI Pru 30 18,000 15 Years You have a choice of paying
Guaranteed Years premiums for either 7 or 10
Savings Insurance years, while enjoying a long
term savings benefit under
Plan
the plan.
5. DETAILS OF POLICIES CONT..
POLICY NAME AGE PREMIUM TERM BENEFITS
ICICI Pru Whole 0 / 60 years Rs. 6,000 per Whole life Life cover, Wealth
Life annum creation,
Additional life
cover, Avail of tax
benefits
ICICI Pru 0 / 60 years Rs. 6,000 p.a. 10 / 30 years Accident and
Disability Benefit
Save'n'Protect Rider, extended
cover for 5 years
after maturity of
the policy
ICICI Pru 16 / 70 years Rs. 6,000 p.a. 15 / 20 years Survival Benefits,
CashBak Death benefit ,
Accident and
Disability Benefit
Rider
ICICI Pru 0 / 25 years Rs. 8,400 p.a 10 / 25 years Benefits at critical
educational
SmartKid 20 / 70 years milestones,guaran
Regular tees a regular
Premium income to secure
your child's
academic career
Coverage options,
6. SEGMENTATION
POLICY NAME Demographic Socio-Economic Geographic
ICICI Pru iCare 18-60yrs above Lower middle class Urban and rural
and above india
ICICI Pru Pure 18-60yrs above Lower middle class Urban and rural
Protect and above india
ICICI Pru LifeGuard 18-60yrs above Lower middle class Urban and rural
and above india
ICICI Pru Home 18-60yrs above Upper middle class urban
Assure and above
ICICI Pru iAssure 1-60yrs above upper middle class urban
Single Premium and above
ICICI Pru 25-50yrs Upper middle class urban
Guaranteed Savings and above
Insurance Plan
7. SEGMENTATION
POLICY NAME Demographic Socio-Economic Geographic
ICICI Pru Whole 1-60 yrs above Upper middle class urban
Life and above
ICICI Pru 1-60 yrs above Upper middle class urban
Save'n'Protect and above
ICICI Pru CashBak 18-60 yrs above Upper middle class urban
and above
ICICI Pru SmartKid 1-60yrs Upper middle class urban
Regular Premium above(children and and above
parents)
ICICI Pru SmartKid 5-18 yrs above Upper middle class urban
Premier and above
8. HEALTH INSURANCE
Policy Name Age Benefit Cover
ICICI Pru Health 25 - 55 Policy Holder All problems that
dependent require
hospitalization and
Critical Illness
ICICI Pru Hospital 01 - 65 Policy Holder All problems that
Care II dependent require
hospitalization
ICICI Pru Crisis 18 - 60 Upto 20 lakh 35 MAJOR
Cover ILLNESS
9. Segmentation
Policy Name AGE Social Attitude
(Demographic) Class Towards
(Psychographic) Product
(Behavioral)
ICICI Pru Health 25 – 55 Working Class Positive
ICICI Pru Hospital 01 - 65 Upper Class Highly Positive
Care II
ICICI Pru Crisis 18 - 60 Working Low Postivity
Cover Class
10. RETIREMENT PLANS
Name Age (At Minimum Maximum
entry) Annuity Cover *
ICICI Pru 45 – 100 Rs 12000 Not Defined
Immediate years
Annuity
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)
11. 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)
12. GROUP PLANS
RETIREMENT SOLUTION PROTECTION SOLUTION
Group Gratuity Plan Annuity Solutions
Group Leave Group Term Insurance
Encashment Plan Plan
Credit Assure Utility
13. 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.
14. SEGMENTATION
Products Age Socio-economic Geographic
Group Gratuity Plan 18-60 Working class urban
Group leave 18-60 Working class urban
encashment plan
Annuity Solutions 45-80 Working class urban
Group Term 18-70 Working class urban
Insurance Plan
Credit Assure Utility 18-60 Working class urban
Sarva Jana Suraksha 18-55 Farmers /lower income Rural
Anmol Nivesh 18-50 Farmers /lower income Rural
15. 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
18. Flow Chart Depicting Service flow of ICICI Prudential
Service Being
ICICI Prudential Attended by Queries Being
Divided by
Branch executive Asked
customer
Efforts made to
Convincing the Removing any Efforts made to
provide
Person Misconceptions know interest
solutions
Solving the
Creating liking
Ending with query/closing
for the Product
the deed
