ICICI

ICICI PRUDENTIAL
LIFE INSURANCE
EXECUTIVE SUMMARY
Every human derives satisfaction when he purchases an asset income is necessary
to do this. Income is generated in early life through “man at work” and in the later life
when physically work is not possible through “money at work”
Generation of income is necessary to satisfy the acceptable needs of an
individual. Insurance is an only method of achieving this. Insurance is method of
spreading of spreading and transfer of risk. The fortunate money that is exposed to same
or similar risk shares loss of the unfortunate few. Insurance does not protect the asset but
only compensate the economic and financial loss.
ICICI (industrial credit and investment corporation of India) Prudential Life
Insurance Company is a joint venture between ICICI Bank, a premier financial
powerhouse, and prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private
sector insurance companies to begin operation in December 2000 after receiving approval
from Insurance Regulatory Development Authority (IRDA). Established in London in
1848, Prudential plc, through its businesses in the UK and Europe, the US and Asia,
provides retail financial services products and services to more than 16 million customers,
policyholder and unit holders worldwide
This gives me an opportunity to work on this endeavor focusing on of
‘Organization Study and Awareness of ICICI Prudential Life Insurance Co. Ltd.
BADAMI’ The primary objective of the study is to understand the attitudes and
perception of respondents towards insurance products in Badami city.
B.L.D.E.A’S M.B.A. Programme, Bijapur 1

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The introductory chapter gives and insight to the insurance industry. It briefly
explains about the history of life insurance sector. It also contain the organizational
profile of ICICI PRUDENTIAL, stating about its mile stones, vision, protection solutions,
The second chapter gives a glimpses idea about the area of dissertation i.e., it
includes statement of the problem, of the need and impotents of the present study and
focal objectives of the dissertation undertaken
The third chapter explains about literature review. It briefly describes what all are
the information source for the present study and what benefits has derived from the
reference of those literatures.
Next part explains about the research methodology. With the basic understanding
of the study research design was formulated. To collect the data, questionnaires consisting
of 18 questions were prepared. The necessary data were collected personal interviews
and interaction with both company personnel and holders of life insurance policies. This
chapter specifically explains about the type of research, sample technique, sample size,
actual collection of data and the tools used.
The next chapter contains the analysis and interpretation of data collected. The
collected data was coded through tally bars and presented in percentage wise and depicted
in the form of graphical representation.

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The next chapter is entirely the exploration of the research study giving all
respondents opinion in nutshell as findings i.e. stating that around percentage of
customers behave positively towards the ICICI prudential products. The dissertation ends
up with the suggestion in order to modify the current system for a higher growth and
progress.

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Chapter-I
INTRODUCTION
PROJECT TITLE:
Awareness of ICICI Prudential Life Insurance Company Limited in
“Badami”
Under taken from Hubli
SUMMARY: It is an attempt to bridge the gap between the academic institution and the
corporate world. It helps us to apply the theoretical knowledge in to practical experience.
Hence we have got an opportunity to get the exposure of corporate world.
My Company is ICICI Prudential Life Insurance Company Limited which is No.1
Private Insurance Company with minimum number of policies sold, largest premium
income, largest agency force & biggest pension player. It is the dominant Life and
Pensions Player built on trust by world calls people and service.
Since the opening up of insurance market to private operators, India is considered
one of the hottest places with the majority of the market being untapped. Though there are
restrictions for foreign operators many companies have entered the Indian market and are
operating as joint venture partners. The change in the nature and structure of competition

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has changed the nature of the insurance products offerings. The perception of the market
about the insurance, which was earlier negative, is gradually becoming positive.
It is necessary to understand what make people to buy insurance products. In this
perspective, the present study has concentrated to analyze the behavior exhibited by the
consumers of ICICI Prudential. It necessities to understand the attitudes of consumers
towards products and services offered by ICICI Prudential.

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NATURE OF PROJECT
The project title mentioned earlier aims at providing the company about the
awareness of ICICI prudential Life Insurance Company Limited in as “Badami” its
Branch is not yet established here. From this project, company will be benefited by
knowing that there is too much potential present at this is place. As till now only LIC &
ING VYSYA has its presence here and Bajaj Allianz & HDFC are working through there
advisors. My main objective of creating awareness “Badami”in city is going to be
accomplished by meeting different customers.
OBJECTIIVES.
 To create awareness of ICICI prudential Life Insurance Company Limited in
“Badami”city.
 To know which is 1st popular life insurance player in“Badami”.
 To conduct a survey on a sample selected and to know the rate of awareness in.
“Badami”
 To get knowledge about what people require from ICICI prudential.
 To know how people of “Badami”came to know about ICICI Prudential.
 To Provide adequate knowledge about the products of ICICI Prudential.

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STATEMENT OF THE PROBLEM
The title of the present research is “Awareness of ICICI Prudential Life Insurance
Company Limited.”
ICICI (Industrial Credit and Investment Corporation of India), which was one of
the largest developmental banks, has ventured into many areas of finance-in fact it has
become a universal banking brand. Prudential one of the world’s leading insurance
company has joined hand with ICICI to offer insurance products. Though private
insurance companies are in the infancy stage, the impact on the insurance market is
tangible. The marketing strategies of these private operators have forced LIC to change its
gears.
Insurance products are marketed with unique strategies. The market is more aware
and realistic about investment and returns from insurance products. Insurance business is
more transparent as compared to the past. In this background this study tries to analyze
the of awareness of investors behaviors towards insurance products in general and ICICI
in particular.

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Chapter-II
INDUSTRY PROFILE
2.1 INTRODUCTION OF INSURANCE COMPANY
Insurance is the business of providing protection against financial aspects aspects
of risk such as those to property life health and legal liability it is one method of a greater
concept known as Rick management which is the need to manage uncertainty on account
of exposure to loss injure disadvantages.
In insurance the insured makes payment called premiums loan insurer and in
return is able to claim a payment from the insurer the insured suffers a defined type of
loss.
Insurance companies also earn investment profits because they have the use of
premium money from the time they receive it until the time they need it to pay claims.
This money is called the float when the investment of float are successful they may earn
large profits even it the insurance company pays out in claims every penny received as
premiums. In fact most insurance companies pay out more money than they deceive in
premiums. The excess amount that they pay to policyholders in the cost of float insurance
company will profit if they invest the money at a greater return than their cost of float.

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Brief History of Insurance
The story of Insurance is probably as old as the story of mankind. The same instinct
that prompts modern businessmen today to secure themselves against loss and disaster
existed in primitive men also. They too sought to avert the evil consequences of fire and
flood and loss of life and were willing to make some sort of sacrifice in order to achieve
security. Though the concept of Insurance is largely a development of the recent past,
particularly after the industrial era- past few centuries- yet its beginnings date back almost
6000 years.
Life Insurance in its modern form came to India from England in the year 1818.
Oriental Life Insurance Company started by Europeans in Calcutta was the first life
Insurance company on Indian Soil. All the Insurance companies established during that
period were brought up with the purpose of looking after the needs of European
community ad Indian natives were not being insured by these companies. However, after
with the efforts of eminent people like Babu Muttylal seal, the foreign life Insurance
companies started insuring Indian lives. But Indian lives were being treated as sub-
standard lives and heavy extra premiums were being charged on them. Bombay Mutual
Life Assurance Society heralded the birth of first Indian Life Insurance Company in the
year 1870,And covered lives at Normal rates. Starting as Indian enterprise with highly
patriotic motives, Insurance companies came into existence to carry the message
Insurance and social security through Insurance to various sectors of society. Bharat

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Insurance Company (1886) was also one of such companies inspired by nationalism. The
Swadeshi Movement of 1905-1907 gave rise to mire Insurance companies. The United
India Madras, National India and National Insurance In Calcutta and the Co-operative
Assurance at Lahore were established in 1906- In 1907, Hindustan Co-operative.
Company took its birth in the f the rooms of the Jorasanko. The Indian mercantile,
general Assurance and Swadeshi Life (Later Bombay Life) were some of the companies
established during the same period Prior to 1912 India had on legislation to regulate
Insurance business, In the year 1912, the Life Insurance Companies Act, 1912 Made
Provident Fund Act were passed. The Life tables Companies Act, 1912 made it necessary
that the premium rate tables and periodical valuations of companies should be certified by
an actuary. But the Act discriminated between foreign and Indian companies on many
accounts, putting the Indian companies at a disadvantage.
The first two decades f the twentieth century saw lot of growth in insurance
business. Form 44 companies with total business- in –force as Rs. 22-44 crores, it rose to
176 companies with total business- in force as, Rs. 298 crores in 1938 during the
mushrooming of Insurance companies many financially unsound concerns were also
floated which failed miserably. The Insurance Act. 1938 was the first legislation
governing not only life insurance but also non-life Insurance to provide strict state control
over insurance business. The demand for nationalization of life Insurance industry was
made repeatedly in the past but it gathered momentum in 1944 when a bill to amend the
Life Insurance Act 1938 was introduced in the Legislative Assembly. However, it was
much later on the 19th of January, 1956, that life Insurance in India was nationalized.
About 154 Indian Insurance companies, 16 non-Indian companies and 75 provident were

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operating in India at the time of nationalization. Nationalization was accomplished in two
stages; initially the management of the companies was taken over by means of an
ordinance, and later, the owner ship too by means of a comprehensive bill. The Parliament
of India passed the Life Insurance Corporation Act on the 19 th of June 1956, and the Life
Insurance corporation of India was created on 1st September, 1956, with the objective of
spreading life Insurance much more widely and in particular to the rural areas with a view
to reach all insurable persons in the country, providing them adequate financial cover at a
reasonable cost.
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from
its corporate office in the year 1956. Since life Insurance contracts are long-term contracts
and during the currency of the policy it requires a variety of services need was felt in the
later years to expand the operations and place a branch office at each district headquarter.
Reorganization of LIC took place and large numbers of new branch offices were opened.
As a result of re-organization servicing functions were transferred to the branches, and
branches were made accounting units. It worked wonders with the performance of the
corporation. It may be seen that from about 200.00 crores of New Business in 1957 the
corporation crossed 1000.00 crores only in the year 1969-70, and it took another 10 years
for LIC to cross 2000.00 crores mark of new business; But with reorganization happening
in the early eighties, by 1985-86 LIC had already crossed 7000.00 crores Sum Assured on
new policies.
Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices,

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Zonal offices and the corporate office. LIC’s Wide Area Network covers 100 divisional
offices and connects all the branches through a Metro Area Network. LIC has tied up with
some Banks and service providers to offer on-line premium collection facility in selected
cities. LIC’s ECS and ATM premium payment facility is an addition to customer
convenience. Apart from on-line Kiosks and IVRS, Info centers have been commissioned
at Mumbai, Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, New Delhi, Pune and
many other cities.
With a vision of providing easy access to its policyholders, LIC has launched its
SATELLITE SAMPARK offices. The satellite offices are smaller, leaner and closer to the
customer. The digitalized records of the satellite offices will facilitate anywhere servicing
and many other conveniences in the future.
LIC continues to be the dominant life insurer even in the liberalized scenario of
Indian Insurance and is moving fast on a new growth trajectory surpassing its own past
records. LIC has issued over one crores policies during the current year. It has crossed the
milestone of issuing 1,01,32,955 new policies by 15th Oct. 2005, posting a healthy growth
rate of 16.67% over the corresponding period of the previous year.
From then to new, LIC has crossed many milestones and has set unprecedented
performance records in various aspects of life Insurance business. The same natives
which inspired our forefathers to bring Insurance into existence in this country inspire us
at LIC to take this message of protection to light the lamps of security in as many homes
as possible and to help the people in providing security to their families.

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2.2 Some of the important milestones in the life Insurance business in India
are:
 1818: Oriental Life Insurance company, the first life Insurance company on Indian
soil started functioning.
 1870: Bombay Mutual Life Assurance society, the first Indian life Insurance
company started its business.
 1912: The Indian Life Assurance Companies Act enacted as the first statute to
regulate the Life Insurance business.
 1928: The Indian Insurance Companies Act enacted to enable the government to
collect statistical information about both life and non life Insurance business.
 1938: Earlier legislation consolidated and amended to by the Insurance Act with
the objective of protecting the interests of the insuring public.
 1956: 245 Indian and foreign insurers and provident societies are taken over by
the central government and nationalized. LIC formed by an Act of Parliament, viz.
LIC Act 1956, with a capital contribution of Rs. 5 crore from the Government of
India.
The General Insurance business in India, on the other hand, can trace its
roots to the Triton Insurance Company Ltd., the first general Insurance Company
established in the year 1850 in Calcutta by the British.

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INSURANCE SECTOR REFORMS
In 1993, Malhotra Committee headed by former Finance Secretary and RBI
Governor R.N.Malhotra was formed to evaluate the Indian Insurance Industry and
recommend its future direction.
The Malhotra committee was set up with the objective of complementing the
reforms initiated in the financial sector.
The reforms were aimed at creating a more efficient and competitive financial
system suitable for the requirements of the economy keeping in mind the structural
changes currently underway and recognizing that Insurance is an important part of the
overall financial system where it was necessary to address the need for similar reforms.”
In 1994, the committee submitted the report and some of the key
recommendations included:

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i) Structure
 Government stake in the Insurance Companies to be brought down to 50%
 Government should take over the holdings of GIC and its subsidiaries so that
these subsidiaries can act as independent corporations
 All the Insurance companies should be given greater freedom to operate.
ii) Competition
 Private Companies with a minimum paid up capital of Rs.1 should be allowed to
enter the industry
 No company should deal in both Life and General Insurance through a single
entity
 Foreign companies may be allowed to enter the industry in collaboration with the
domestic companies
 Postal Life Insurance should be allowed to operate in the rural market
 Only one State Level Life Insurance Company should be allowed to operate in
each state
iii) Regulatory Body
 The Insurance Act should be changed
 An Insurance Regulatory body should be set up

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 Controller of Insurance (Currently a part from the Finance Ministry) should be
made independent.
iv) Investments
 Mandatory Investments of LIC Life Fund in government securities to be reduced
from 75% to 50%
 GIC and its subsidiaries are not to hold more than 5% in any company (There
current holdings to be brought down to this level over a period of time)
v) Customer Service
 LIC should pay interest on delays in payments beyond 30 days
 Insurance companies must be encouraged to set up unit linked pension plans.
 Computerization of operations and updating of technology to be carried out in the
Insurance Industry.
The committee emphasized that in order to improve the customer services and
increase the coverage of the Insurance Industry should be opened up to competition. But
at the same time, the committee felt the need to exercise caution as any failure on the part
of new players could ruin the public confidence in the industry. Hence, it was decided to
allow competition in a limited way by stipulating the minimum capital requirement of
Rs.100 crores. The committee felt the need to provide greater autonomy to Insurance

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companies in order to improve their performance and enable them to act as independent
companies with economic motives. For this purpose, it had proposed setting up an
independent regulatory body.
THE INSURANCE REGULATORY AND DEVELOPMENT
AUTHORITY.
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill
in Parliament in December 1999. The IRDA since its incorporation as a statutory body in
April 2000 has fastidiously stuck to its schedule of framing regulations and registering the
private sector Insurance companies. The other decision taken simultaneously to provide
the supporting systems to the Insurance sector and in particular the life Insurance
companies was the launch of the IRDA’s online service for issue and renewal of licenses
to agents.
The approval of institutions for imparting training to agents has also ensured that
the insurance companies would have a trained workforce of Insurance agents in place to
sell their products, which are expected to be introduced by early next year. Since being set

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up as an independent statutory body the IRDA has put in a framework of globally
compatible regulations. In the private sector 14 life Insurance and 6 general Insurance
companies have been registered.
Insurance Regulatory and Development Authority (IRDA)
IRDA is formed as an authority to protect the interest of holders of insurance
policies. To regulate, promote and ensure orderly growth of insurance industry and for
matters connected there with incidental there to.
As per the section 4 of IRDA act 1999 insurance regulatory and development
authorities specify the composition of authority. The authority is ten-members team
consisting of,
 A chairman
 5 whole team members

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 4 part time members
Duties, Powers and Functions of IRDA
1. Duty to regularly, promote insure orderly growth of the insurance business and
re-insurance business.
2. Power to issue to the applicant power to issue to the applicant a certificate of the
registration renew modify withdraw suspend or cancel such registration.
3. Protection of interest of policy holders in matter concerning assigning of policy,
nomination by policy holder, insurable interest, settlement of insurance claim and
other terms and conditions of contract of insurance.
4. Specifying requisite qualification code of conduct and practical training for
intermediary or insurance intermediaries and agent.
5. Specifying the code of conduct for surveyors and loss assessors.
6. Control and regulation of the rates advantages terms and conditions that may be
offered by insurers in respect of general insurance business not so controlled and
regulated by the tariff advisory committee under section 640 of the insurance Act.
1938.
7. Regulating maintenance of margin of solvency.
8. Adjudication of disputes between insurers and intermediaries or insurance
intermediaries.
9. Promoting efficiency in the conduct of insurance business
10. Promoting and regulating professions organizations connected with the insurance.

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Classification of Insurance:
The Insurance industry in India can broadly classified in two parts.
i) Life Insurance
ii) Non –life insurance Or General insurance

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1) LIFE INSURANCE:
Life Insurance can be defined as “Life Insurance provides a sum of money if the
person who is ignored dies while the policy is in effect”.
In 1818 British introduced to India with the establishment of the Oriental Life
Insurance Company in Calcutta. The first Indian owned life Insurance company the
Bombay mutual life Insurance society was set up in 1870; the Life Insurance act 1912
was the first statutory measure to regulate the life insurance business in India.
The union government had opened insurance sector for private participation in
1999, also allowing the private company to have foreign equity up to 26% following the
opening up as the insurance sector 12 private sector companies have entered the life
insurance business.
Fundamental principal of life Insurance contact:
1) Principal as almost good faith:
“A positive duty to voluntary disclose, accurately and fully all facts, material to
the risk being proposed whether requested as not”.
2) Principle of Insurance interest:
“Relationships with the subject matter which is recognized a law and give legal
right to insure that person”.

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Benefit of life Insurance:
 Life Insurance encourages savings and forces thrift
 It is superior to a traditional savings vehicle.
 It helps to achieve the purpose of life assured.
 It can be enchased and facilitates quick borrowing
 It proves valuable tax relief.
2) NON LIFE (GENERAL) INSURANCE.
Triton Insurance Co. Ltd was the first general insurance company to be
established in India in 1850. Whose shares were mainly held by the British? The first
general insurance company to be set up by an Indian was Indian mercantile Insurance co
Ltd. that was stabilized in 1907. There emerged many a player the Indian scene there
after.
The general Insurance business was nationalized after the promulgation of general
Insurance corporation (GIC) of India undertook the post nationalization general insurance
business.

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Table: 1.
Life Insurance.
Registrar
Sl. No. Date of Reg. Name of Companies
No.
1 101 23-10-2000 HDFC standard Life Insurance Co.Ltd
2 104 15-11-2000 Max New yard Life Insurance Co.Ltd
3 105 24-11-2000 ICICI Prudential Life Insurance Co.Ltd
4 107 10-01-2001 Om Kotak Mahindra Life Insurance Co.Ltd
5 109 31-01-2001 Birla Sun Life Life Insurance Co.Ltd
6 110 12-02-2001 Tata AIG Life Insurance Co.Ltd
7 111 30-03-2001 SBI Life Insurance Co.Ltd
8 114 02-08-2001 ING Vysya Life Insurance Co.Ltd
9 116 03-08-2001 Allianz Bajaj Life Insurance Co.Ltd
10 117 06-08-2001 Metlife India Life Insurance Co.Ltd
11 121 03-01-2002 AMP S Assurance Co.Ltd
12 122 14-05-2002 Aviva Life Insurance Co.Ltd
Table : 2
General Insurance:
Sl.
Registrar No. Date of Reg. Name of Companies
No.
1 102 23-10-2000 Rayal Sundaram Alliance Insurance

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Com.Ltd
2 103 23-10-2000 Reliance General Insurance Com. Ltd
3 106 04-12-2000 IFFCO Tokyo general insurance Co. ltd
4 108 22-01-2001 TATA AIG General Insuranc com. Ltd
5 113 02-05-2001 Bajaj Allianz General Ins. Com Ltd
6 115 03-08-2001 ICICI lombard General Insurance co.Ltd
7 123 15-07-2002 Chalamandalam General Insurance Co. Ltd
8 124 27-08-2002 HDFC Chubb General Insurance Co. Ltd.
PRESENT SCENARIO
The Government of India liberalized the insurance sector in March 2000 with the
passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all
entry restrictions for private players and allowing foreign players to enter the market with
some limits on direct foreign ownership. Under the current guidelines, there is a 26
percent equity cap for foreign partners in an insurance company. There is a proposal to
increase this limit to 49 percent.
The opening up of the sector is likely to lead to greater spread and deepening of
insurance in India and this may also include restricting and revitalizing of the public

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sector companies. In the private sector 12 life insurance and 8 general insurance
companies have been registered. A host of private Insurance companies operating in both
life and non-life segments have started selling their insurance policies since 2001.
COMPANY PROFILE
THE COMPANY:
ICICI prudential Life Insurance company is a joint venture between ICICI Bank-
A premier financial power house and prudential plc a leading international financial
services group head quartered in the united kingdom ICICI prudential was amongst the
first private sector insurance companies to begin operations in December 2000 after
receiving approval from insurance regulatory development authority (IRDA).

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ICICI prudential equity base stands at Rs.1185 Crores with ICICI Bank and
prudential policy holding 74% and 26% state respectively. For the year ended March 31
2006 the company granted Rs. 24.12 billion of weighted new business premium and
wrote a 37.963 policies the sum assured in force stands at Rs. 458.88 billion. The
company has a network of over 72000 advisers as well as 9 banc assurance partners and
over 200 corporate agents and brokers tie-ups. It is also the only life Insurance in India to
be assigned AAA Credit rating from Fitch ratings. The AAA rating is the highest credit
rating and is a clear assurance of ICICI prudential’s ability to meet its obligations to
customers at the time of maturity or claims.
Fro the past five years ICICI prudential has rationed its position as the No.1
private life insure in the country with a wide range of flexible products that meet the
needs of the needs of the Indian customer at every step in Life.
2.2) VISION OF COMPANY
To make ICICI prudential the dominant life and pensions plays build on trust by
world class people and service.
VALUES OF COMPANY
Customer First
Own the customer, deliver the promise
1) Keep customer interest in the center of the all delusions

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2) Promise what you can deliver it to finish
3) Proactively seek voice of customer and act on it.
Boundary less
Never say ‘its not my job’
1) Offer help and ensure business success functions to ensure business success.
2) Seek and shall ideas freely
3) Recognize and respect internal customers.
Ownership:
It is to be, it is up to me.
1) Take responsibility and see tasks through to completion.
2) Own mistakes, learn from failures.
3) Be a team player take ownership for team performance.
Passion
Boundless energy and enthusiasm.
1) Exhibit “Winning Instinct.
2) Demonstrate speed and urgency for achieving result.
3) Challenge status quorum do things differently
Integrity
Be honest and fair in what you say and do.
1) Practice what you preach.

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2) Stand up honesty and fearlessly for what is right.
3) Act in a consistent and equitable manner.
Company hopes to Achieve:
 Understanding the needs of customers and offering them superior products and
service.
 Leveraging technology to service customers quickly, efficiently and conveniently.
 Developing and implementing superior risk management and investment
strategies to offer sustainable and stable returns to the policyholders.
 Providing as enabling environment to foster growth and learning for our
employees.
 And above all, building transparency in all our dealings.
ORIGIN OF THE ORGANIZATION
ICICI and prudential came together in 1993 to form Prudential ICICI Asset
Management company, which has today emerged as one of the leading mutual funds in
India. The two companies bring together two of the strongest financial service brands in
Asia, known for their professionalism, excellent quality of service and long term
commitment to customers. Riding on the success of this relationship, the two companies

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joined hands once more in 2000, to form ICICI Prudential Life Insurance, with a
commitment to provide leading- edge life insurance solutions.
ICICI Bank has 74% stake in the company, and prudential plc has 26%.
PROMOTERS:
ICICI Bank: ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private
sector bank with over 50 years of financial experience and with assets of Rs. 1812.27
billion as on 30th June 2005. ICICI Bank offers a wide range of banking products and
financial services to corporate and retail customers through a variety of delivery channels
and through its specialized subsidiaries and affiliates in the areas of investment banking,

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life and non-life Insurance, venture capital and asset management. ICICI Bank is a
leading player in the retail banking market and has over 13 million retail customer
accounts. The Bank has a network of over 570 branches and extension counters and 2000
ATMs.
Prudential Plc: Established in London in 1848, Prudential plc, through its businesses in
the UK and Europe, the US and Asia, provides retail financial services products and
services to more than 16 million customers policyholder and unit holders world wide. As
of June 30, 2004, the company had over US$300 billion in funds under management.
Prudential has brought to market an integrated range of financial series products that now
includes ife assurance, pensions, mutual funds, banking, investment management and
general Insurance. In Asia, Prudential is the leading European life Insurance company
with a vast network of 24 life and mutual fund operations in twelve countries.
FUTURE OF THE ORGANIZATION
The vision of ICICI Prudential is to become a dominant life and pension player in
the private sector. IN this direction, ICICI has taken up the initiative by opening a number
of branches across the city, and simultaneously recruiting new sales force with the
ultimate goal of achieving their vision. They are also coming up with products of a novel

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and innovative nature aimed at attracting customers and making ICICI their first
preferences in their field.
DISTRIBUTION:
ICICI Prudential has one of the largest distribution networks amongst private life
insurers in India, having commenced operations in over 116 cities and towns in India,

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stretching from Bhuj in the west to Guwahati in the east, and Amritsar in the north to
Trivandrum in the south.
The company has 8 bank assurance tie-ups, having agreements with ICICI Bank,
Bank of India, Federal Bank, South Indian Bank, Ernakulam Bank, Lord Krishna Bank
and some co-operative banks, as well as about 290 corporate for the distribution of rural
policies and organizations like Dhan for distribution of Salaam Zindagi, a policy for the
socially and economically underprivileged sections of society.
ICICI Prudential has recruited and trained more than 65000 Insurance advisors to
interface with and advise customers. Further, it leverages its state-of-the-art IT
infrastructure to provide superior quality of service to customers.
PRODUCTS:
Insurance solutions for Individuals.

ICICI PRUDENTIAL
LIFE INSURANCE
ICICI Prudential Life Insurance offers a range of innovative, customer centric
products that meet the needs of customers at every life stage Its products can be enhanced
with up to 5 riders, to create a customized solution for each policyholder.
Savings solutions:
Secure Plus: is a transparent and feature-packed savings plan that offers 3 levels of
protection.
Cash Plus: is a transparent, feature-packed savings plan that offers 3 levels of protection
as well as liquidity options.
Save’n Protect: is a traditional endowment savings plan that offers life Protection along
with adequate returns.
Cash bank: is an anticipated endowment policy ideal for meeting milestone expenses like
a child’s marriage, expenses for a child’s higher education or purchase of an asset.
Lifetime I & Life Time II: offer customers the flexibility and control to customize the
policy to meet the changing needs at different life stages. Each offers 4 fund options i.e.,
Preserver, Protector, Balancer and Maxi miser.
Life Link II: is a single premium Market Linked Insurance Plan which comings life
Insurance cover with the opportunity to stay invested in the stock market.
Premier Life: is a limited premium paying plan that offers customers life Insurance cover
till the age of 75.

ICICI PRUDENTIAL
LIFE INSURANCE
Invest shield Life: is a Market Linked plan that provides capital guarantee on the invested
premiums and declared bonus interest. Invest Shield Cash is a Market Linked plan that
provides capital guarantee on the invested premiums and declared bonus interest along
with flexible liquidity options.
Invest Shield Gold: is a Market Linked plan that provides capital guarantee on the
invested premiums and declared bonus interest along with limited premium payment
terms.
Protection Solutions:
Life Guard: is a protection plan, which offers life cover at very low cost. It is available in
3 options? Level term assurance, level term assurance with return of premium and single
premium.
Home Assure: is a mortgage reducing term assurance plan designed specifically to help
customers cover their home loans in a simple and cost-effective manner.
Child Plans:
Smart Kid: education plans provide guaranteed educational benefits to a child along with
life Insurance cover for the parent who purchases the policy. The policy is designed to
provide money at important milestones in the child’s life. Smart Kid plans are also
available in unit-linked form both single premium and regular premium.
Retirement Solutions:

ICICI PRUDENTIAL
LIFE INSURANCE
Forever Life: is a retirement product targeted at individuals in their thirties.
Secure plus Pension: is a flexible pension plan that allows one to select between 3 levels
of cover.
Market-linked retirement products:
Life Time Pension II: is a regular premium market-linked pension plan
Life Link Pension II: is a single premium market-linked pension plan.
Invest Shield Pension: is a regular premium pension plan with a capital guarantee on the
investible premium and declared bonuses.
Golden Years: is a limited premium paying retirement solution that offers tax benefits up
to Rs 100000 u/s 80C, with flexibility in both the accumulation and payout stages.
ICICI Prudential also launched ‘Salaam Zindagi’, a social sector group Insurance policy
targeted at the economically underprivileged sections of the society.

ICICI PRUDENTIAL
LIFE INSURANCE
Health Solution:
Health Assure: Is a regular premium plan which provide long term cover against 6 critical
illnesses by providing policyholder with financial assistance, irrespective of the actual
medical expenses.
Health Assure Plus: Is a regular premium plan which provides long term cover against 6
critical illnesses by providing financial assistance, irrespective of actual medical
expenses, as well as an equivalent life Insurance cover.
Group Insurance Solutions:
ICICI Prudential also offers Group Insurance Solutions for companies seeking to
enhance benefits to their employees.
ICICI Pru Group Gratuity Plan: ICICI Pru’s group gratuity plan helps employers fund
their statutory gratuity obligation in a scientific manner. The plan can also be customized
to structure schemes that can provide benefits beyond the statutory obligations.
ICICI Pru Group Superannuating Plan: ICICI Pru offers a flexible defined contribution
superannuation scheme to provide a retirement kitty for each member of the group.
Employees have the option of choosing from various annuity options or opting for a
partial commutation of the at the time of retirement.
ICICI Pru Group Term Plan: annuity ICICI Pru’s flexible group terms solutions helps
provide affordable cover to members of a group. The cover could be uniform or based on
designation/rank or a multiple of salary. Te benefit under the policy is paid to the
beneficiary nominated by the member on his/her death.

ICICI PRUDENTIAL
LIFE INSURANCE
Flexible Rider Options:
ICICI Pru Life offers flexible riders, which can be added to the basic policy at a
marginal cost, depending on the specific needs of the customer.
Accident & disability benefit: If death occurs as the result of an accident during the term
of the policy, the beneficiary receives an additional amount equal to the rider sum assured
under the policy. If the death occurs while traveling in an authorized mass transport
vehicle, the Beneficiary will be entitled to twice the sum assured as additional benefit.
Accident Benefit: This rider option pays the sum assured under the rider on death due to
accident.
Critical Illness Benefit: Protects the insured against financial loss in the event of 9
specified critical illnesses. Benefits are payable to the insured for medical expenses prior
to death.
Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till
maturity, in the event of the death of the life assured. It is available on smart Kid, Secure
Plus and Cash Plus.
Waiver of Premium: In case of total and permanent disability due to an accident, the
premiums are waived till maturity. This rider is available with secure Plus and Cash plus.

ICICI PRUDENTIAL
LIFE INSURANCE
AWARENESS
According to Saugata Gupta Chief – Marketing of ICICI Pru ‘ICICI Pru life’s
communication strategies have been very success full in building the brand and driving
awareness of the company and the category. ORG- Marg’s Brand track survey undertaken
last year indicate that though awareness of LIC stands at 100% ICICI Pru life stands not
for behind in second place at 70%. Further the awareness scores for ICICI Pru life double
between February 2001 and September 2001.
ORG Marg research also showed that the communication not only created
saliency and awareness, but also succeeded in influencing the buying decision. ICICI Pru
life emerged for ahead of other private players as far as share of wallet went, with 65% of
the respondents saying that they intended to buy policy from ICICI Pru life’.

ICICI PRUDENTIAL
LIFE INSURANCE
Organization Structure
ZONAL MANAGER
TERRITORY MANAGER
SALES MANAGER
ASSISTANT SALES MANAGER
UNIT MANAGAER
ADVISORS

ICICI PRUDENTIAL
LIFE INSURANCE
Chapter-III
RESEARCH METHODOLOGY
3.1 Type of Research
Every decision poses unique needs for information, and relevant strategies can be
developed based on the information gathered through research. Research is the systematic
objective and exhaustive search for and study of facts relevant to the problem.
Research design means the framework of study that leads to the collection and
analysis of date. It is a conceptual structure with in which research is conducted. It
facilitates smooth sailing of various research operations to make the research as effective
as possible.
The study was conducted as an exploratory sampling survey method to collect
primary and secondary data.
3.2 Primary source of Date
Primary data are those collected by the investigator himself for the first time and
thus they are original in character, they are collected for a particulars purpose.
A well- strutted questionnaire was personally administrated to the selected sample
to collect the primary data.

ICICI PRUDENTIAL
LIFE INSURANCE
Secondary source of Data
Secondary data are those, which have already been collected by some other
persons for their purpose and published Secondary data are usually in the shape of
finished products.
Two types of secondary data were collected for the preparation of the project work:
Internal Data was generated from company’s brochures, manuals and annual reports.
External Data, on the other hand, was generated from magazines, research books and
internet (website)
3.3 Sampling Techniques
A sample is a representative part of the population. In sampling technique,
information is collected only from a representative part of the universe and the
conclusions are drawn on that basis for the entire universe.
A random sampling technique was used to collect data from the respondents. A
random sample is a sample selected from a population in such a way that every member
of the population has a equal chance of being selected and the selection of any individual
does not influence the selection of any other. The selection is purely depends on chance.
So while conducting the survey, 100 respondents were selected at random.

ICICI PRUDENTIAL
LIFE INSURANCE
3.4 Sample size:
Sample size denotes the number of elements selected for the study. For the present
study, 100 respondents were selected at random. All the 100 respondents were the
customers of one or another insurance company.
3.5 Company Records:
Company records like annual reports, brochures, manuals etc. has given valuable
information for the present study.
Internet
Company related and topic related websites also provided significant contribution
in data collection.
LIMITATIONS OF STUDY
 As ICICI Prudential Branch office is not there people are not much aware of it.
 An underlying assumption for the entire project is that the details and the feedback
received from the population is true.
 Sample size is limited due to limited period, allocated for the survey.
 Getting accurate responses from the respondents due to the inherent problems,
they may partial or refused to cooperate.

ICICI PRUDENTIAL
LIFE INSURANCE
 Conducting a survey through personal interaction is tedious and time consuming
Chapter-IV
ANALISIS AND INTERPRETATION
Table 1. Shows Occupation of the respondents.
Statistics
Occupation
N Valid 100
Missing 0
Occupation
Cumulative
Frequency Percent Valid Percent Percent
Valid government employee 18 21.0 21.0 21.0
business man 38 28.0 28.0 49.0
profession 20 23.0 23.0 72.0
education 0 0 0 0
others 24 19.0 19.0 100.0
Total 100 100.0 100.0
Graph-1
Occupation
30
Frequency
20
10
0
Government Business man Profession Education Others
Employee
Occupation

ICICI PRUDENTIAL
LIFE INSURANCE
Inference:
 It is clear from the above table that 38% of the respondents are business persons.
 18% of respondents are from Govt. employee and 20% of the respondents are
professionals. Others are 24%.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 2. ShowsMonthly income of respondents.
Statistics
monthly_income
N Valid 100
Missing 0
monthly_income
Cumulative
Valid less than 10000 17 17.0 17.0 17.0
10000 to 20000 44 44.0 44.0 61.0
20000 to 30000 19 19.0 19.0 80.0
30000 to 40000 7 7.0 7.0 87.0
more than 40000 13 13.0 13.0 100.0
Total 100 100.0 100.0
Graph-2.
monthly_income
50
40
Frequency
30
20
10
0
less than 10000 10000 to 20000 20000 to 30000 30000 to 40000 more than 40000
monthly_income

ICICI PRUDENTIAL
LIFE INSURANCE
Inference: -
 From the above Table it is clear that 44 % of the respondents fall in the income
bracket of 10,000 to 20,000
 19 % of respondents fall in the category of 20,000 to 30,000 and in the income
group of less than 10,000 there are 17 % respondents.
In this case ICICI Pru. has to focus on the income bracket of 10,000 to 20,000 only 17
% of Respondents cannot afford the ICICI Pru’s Plans as it is not their income capacity.
So ICICI has to think on converting this 17% as the potential customers.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 2. Shows Monthly Saving of Respondents
Statistics
Monthly _ saving
N Valid 100
Missing 0
Monthly _ saving
Cumulative
Valid less than 2000 19 19.0 19.0 19.0
2000 to 4000 36 36.0 36.0 55.0
4000 to 6000 23 23.0 23.0 78.0
6000 to 8000 13 13.0 13.0 91.0
more than 8000 9 9.0 9.0 100.0
Total 100 100.0 100.0
Graph-3.
Monthly saving
40
30
Frequency
20
10
0
less than 2000 2000 to 4000 4000 to 6000 6000 to 8000 more than 8000
Monthly saving

ICICI PRUDENTIAL
LIFE INSURANCE
Inference: -
From the above Table it is clear that 36 % of respondents save between 2000 to
4000 as there monthly savings.
 Another 23 % of the respondents save between 4000 – 6000as there monthly
saving Out of total a part of 19% saves in the category less than 2000.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 4. Shows Purpose of saving.
Statistics
Purpose _ savings
N Valid 100
Missing 0
Purpose _ savings
Cumulative
Valid medical expenses 15 15.0 15.0 15.0
to purchase assets 23 23.0 23.0 38.0
for child education 35 35.0 35.0 73.0
for riterment 16 16.0 16.0 89.0
others 11 11.0 11.0 100.0
Total 100 100.0 100.0
Graph-4.
purpose savings
40
30
Frequency
20
10
0
medical expenses purchase for child education for ri]terment others
assets
purpose savings

ICICI PRUDENTIAL
LIFE INSURANCE
Inference:
As it is known life is uncertain your financial priorities in life be it savings,
protection, or Investment, depends in stage of life you are in with changing life stages the
priority changes as well to meet these constantly evolving needs you may need to protect
your future by having an insurance policy
It is clear form the above table that 35% of the respondents save their money for
child education purpose. 23% of the respondents save their money for future purchase of
assets. Another16% of the respondents set aside their money for Retirement.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 5. Showing pattern of investment made in savings
Statistics
Invest _ savings
N Valid 100
Missing 0
Invest _ savings
Cumulative
Valid bank deposits 30 30.0 30.0 30.0
insurance 41 41.0 41.0 71.0
shares 7 7.0 7.0 78.0
gold 8 8.0 8.0 86.0
mutual funds 10 10.0 10.0 96.0
others 4 4.0 4.0 100.0
Total 100 100.0 100.0
Graph-5.
\\
Invest savings
50
40
Frequency
30
20
10
0
bank deposits insurance shares gold mutual funds others
Invest savings
Inference:

ICICI PRUDENTIAL
LIFE INSURANCE
Insurance alone constitutes of 41% as the investment pattern of the savings. 30%
of the respondent invests savings in Bank deposit. One more segment where people invest
their savings is Mutual funds i.e., around 10% It is clear from the table that 7% of the
respondents invest in the Shares.
Table 6. Shows purpose of make the insurance
Statistics

ICICI PRUDENTIAL
LIFE INSURANCE
purpose_of_purchase_insurance
N Valid 100
Missing 0
Cumulative
Valid safety 56 56.0 56.0 56.0
uncertainty 7 7.0 7.0 63.0
tax exemption 20 20.0 20.0 83.0
profitability 14 14.0 14.0 97.0
investment 3 3.0 3.0 100.0
Total 100 100.0 100.0
Graph-6.
60
50
Frequency
40
30
20
10
0
Safety Uncertainty tax Profitability Investment
Exemption

ICICI PRUDENTIAL
LIFE INSURANCE
Inference:
Insurance is basically a provision for security in the sense financial security that the
individual gets. The individual also gets a security towards life as it covers the risk of a
person. As the above statistics shows 56% of people treat insurance as safety.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 7. Shows Awareness about ICICI Prudential Life Insurance Company
Limited.
Statistics
awareness_of_icici
N Valid 100
Missing 0
awareness_of_icici
Cumulative
Valid yes 67 67.0 67.0 67.0
no 33 33.0 33.0 100.0
Total 100 100.0 100.0
Graph-7.
awareness_of_icici
60
Frequency
40
20
Yes No
awareness_of_icici

ICICI PRUDENTIAL
LIFE INSURANCE
Inference:
It is clear the above table that 67% are aware of ICICI Prudential Life Company
Limited. And remaining 33% are unaware of this insurance Company in Badami
Creating Awareness is not only solution creating customers is the ultimate solution
so, there are 67% of cheating of creating customers and another 33% available customers.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 8. Shows how awareness has been created in the minds of customers.
Statistics
adver_of_icici
N Valid 100
Missing 0
adver_of_icici
Cumulative
Valid news paper 11 11.0 11.0 11.0
icici advisors 16 16.0 16.0 27.0
advertisement 21 21.0 21.0 48.0
friends & relatives 16 16.0 16.0 64.0
others 3 3.0 3.0 67.0
Do not know 33 33.0 33.0 100.0
Total 100 100.0 100.0
Graph-8.
adver_of_icici
40
30
Frequency
20
10
0
News paper icici advisors Advertisement Friends & Others Do not know
Relatives
adver_of_icici

ICICI PRUDENTIAL
LIFE INSURANCE
Inference:
AS ICICI is using Adverting as a major tool Television being the most popular source
of awareness.
31% of the total respondents came to know about ICICI Prudential Life Insurance
Co Ltd through Direct Marketing i.e., advertisement. 24% came to know through ICICI
Advisors and Friends/Relatives. Newspaper is also one of the components, which helped
in making awareness of ICICI Pru. It made apart of 16%.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 9. Depicting Level of information about ICICI Pru.
Statistics
level_of_information_about_icici
N Valid 100
Missing 0
Cumulative
Valid Good 25 25.0 25.0 25.0
moderate 35 35.0 35.0 60.0
Poor 7 7.0 7.0 67.0
having no information 33 33.0 33.0 100.0
Total 100 100.0 100.0
Graph-9.
Frequency
40
30
20
10
0
Good Moderate Poor Having no information

ICICI PRUDENTIAL
LIFE INSURANCE
Inference:
From the above table it is understandable that 35% of the respondents have
moderate level of information about ICICI Pru. Another 25% have good Knowledge
about ICICI Pru. Life insurance Company Limited. Remaining 33% of the respondents
have no information, and 7% of respondents have poor information about ICICI pru.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 10. Shows Life insurance Policies.
Statistics
life_insurance_policies
N Valid 100
Missing 0
Cumulative
Valid yes 90 90.0 90.0 90.0
no 10 10.0 10.0 100.0
Total 100 100.0 100.0
Graph-10.
100
Frequency
80
60
40
20
Yes No
From the above table it is clear that 90%of respondents say yes, and 10% of respondents
say no.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 11. Shows which companies presence is the most in Badami market.
Statistics
diffrent_companies_in_Badami_market
N Valid 100
Missing 0
Cumulative
Valid LIC 64 64.0 64.0 64.0
ICICI 4 4.0 4.0 68.0
Bajaj Allianz 5 5.0 5.0 73.0
SBI 6 6.0 6.0 79.0
Birla Sun Life 3 3.0 3.0 82.0
Others 9 9.0 9.0 91.0
Don’t have policy 9 9.0 9.0 100.0
Total 100 100.0 100.0
Graph-11.
60
40
Frequency
20
B.L.D.E.A’S M.B.A.LIC ICICI

Programme, Bajaj Allianz
Bijapur SBI Birla Sun Life Others Dont have
policy 62
ICICI PRUDENTIAL
LIFE INSURANCE
Inference: -
It is clear from the above table that 71% are having Life insurance from LIC. 10%
of respondents have Life Insurance from SBI Life. Another 3% have made their Life
Insurance from Bajaj Allianz.
From the above it understandable that Badami is an untapped market for private
insurance players. Hence it has a great potential market which can be skimmed by the
ICICI Pru.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 12. Shows the most Popular Insurance product Preferred by the customer.
Statistics
Different policies
N Valid 100
Missing 0
Different policies
Cumulative
Valid Annuity 3 3.0 3.0 3.0
Money Back 34 34.0 34.0 37.0
Endornment 26 26.0 26.0 63.0
Term 1 1.0 1.0 64.0
ULIP 7 7.0 7.0 71.0
Retirement 15 15.0 15.0 86.0
Others 4 4.0 4.0 90.0
Don’t have polices 10 10.0 10.0 100.0
Total 100 100.0 100.0
Graph-12.
Different policies
40
30
Frequency
20
10
0
Annuity Money Back Endornment Term ULIP Retirement Others Dont have
polices
Different policies

ICICI PRUDENTIAL
LIFE INSURANCE
Inference: -
Customer Prefer Insurance Policy because it is a security in future. As it is
investment, which will fetch them, returns in the future, so there fore they have financial
security.
It is cleared from the above table that 38% of respondents have opted for money
back policy. Another 28% of Respondents have taken the policy of Endowment. 16% of
Life Insurers have chosen the Retirement Plan. Out of total 8% have preferred unit linked
plans (ULIP).
In Badami People are still not aware about the ULIP plans. As ULIP plans of ICICI
are very good it can tap the Badami market very fast

ICICI PRUDENTIAL
LIFE INSURANCE
Table 13. Shows preference in choosing a particular product.
Statistics
Purpose_of_purchase
N Valid 100
Missing 0
Purpose_of_purchase
Cumulative
Valid For future and family
security 21 21.0 21.0 21.0
For children education 33 33.0 33.0 54.0
Savings plan 14 14.0 14.0 68.0
Investments 13 13.0 13.0 81.0
Others 9 9.0 9.0 90.0
Dont have 10 10.0 10.0 100.0
Total 100 100.0 100.0
Graph-13.
Purpose_of_purchase
40
30
Frequency
20
10
0
For future and For children Savings Investments Others Dont have
Family security Education
Plan
Purpose_of_purchase

ICICI PRUDENTIAL
LIFE INSURANCE
Insurance: -
From the above table it is cleared that 37% of Life Insurers have taken the policy
for Children Education. 23% of Respondents have taken Life Insurance for Security
purpose. Another 15% of respondents have taken for saving and investments.
As we have seen earlier in the purpose of savings table that most of the people
invest their savings in Education. So there is large scope for child plans most of business
man invest in insurance for the tax purpose. Hence ICICI Pru. Has too much potential for
plans which can be tax benefits for the investor.

ICICI PRUDENTIAL
LIFE INSURANCE
Table 14. Shows the market potential in future.
Statistics
Market_potential_in_future
N Valid 100
Missing 0
Cumulative
Valid yes 65 65.0 65.0 65.0
no 35 35.0 35.0 100.0
Total 100 100.0 100.0
Graph-14.
60
Frequency
40
20
0
Yes No
Inference: -
From the above Table it clear that 65% of Respondents are interested to become
the customers of ICICI Pru. Remaining 35 % can be potential customers in future

ICICI PRUDENTIAL
LIFE INSURANCE
Table 15. Shows market potential for which insurance product.
Statistics
Market_potential_for_which_insurence_product
N Valid 100
Missing 0
Cumulative
Valid Savings 18 18.0 18.0 18.0
Protection 11 11.0 11.0 29.0
Child plans 16 16.0 16.0 45.0
Retirement 10 10.0 10.0 55.0
Market linked 10 10.0 10.0 65.0
do not have any interest 35 35.0 35.0 100.0
Total 100 100.0 100.0
Frequency
Graph-15.
40
30
Frequency
20
10
0
Savings Protection Child plans Retirement Market_linked Do not have any
Interest

ICICI PRUDENTIAL
LIFE INSURANCE
Inferences: -
It is clear from the above table that 28% of respondents are interested to buy the
saving plans in future. 40% of respondents are interested to buy both child plan and
retirement plan. Another 17% are Interest to Buy Protection Plans and remaining 15% are
interested to invest in market-linked products.

ICICI PRUDENTIAL
LIFE INSURANCE
CHAPTER-V
FINDINGS
1) There is huge potential in the Business Sector as well as professionals. Along with
both these sector it can concentrate on education and house wives also.
2) We can interpret as less then 50% of the respondents save less than 4000. Hence
people have to be convinced to spend out of these saving only.
3) It is basic need for taking life insurance it constitutes of 56%. Other than safety, tax
exemption is another reason why people tend to take life insurance 20% of the
respondents chooses tax exemption when they hear insurance policy.
4) As people here invest in insurance. And next persons who are investing in Shares
and Mutual Funds for them ICICI Pur’s ULIP Plans can be offered.
5) As advertisement is one source of creating awareness. Its impact will be more
effective if a Branch office is set up in Badami itself as ICICI has a brand value it
will be establish business in Badami city.
6) ICICI Pru. has to focus on the income bracket of 10,000 to 20,000 only 17 % of
Respondents cannot afford the ICICI Pru’s Plans as it is not their income capacity.
So ICICI has to think on converting this 17% as the potential customers.
7) Insurance alone constitutes of 41% as the investment pattern of the savings. 30% of the
respondent invests savings in Bank deposit. One more segment where people invest their
savings is Mutual funds i.e., around 10% It is clear from the table that 7% of the
respondents invest in the Shares.
8) The individual also gets a security towards life as it covers the risk of a person.
As the above statistics shows 56% of people treat insurance as safety.

ICICI PRUDENTIAL
LIFE INSURANCE
9) AS ICICI is using Adverting as a major tool Television being the most popular
Source of awareness.
10) 35% of the respondents have moderate level of information about ICICI Pru. And
7% of respondents have poor information about ICICI pru.
11) From the above it understandable that Badami is an untapped market for private.
Insurance players. Hence it has a great potential market which can be skimmed by
the ICICI Pru.
12) In Badami People are still not aware about the ULIP plans. As ULIP plans of
ICICI are very good it can tap the Badami market very fast
13) 65% of Respondents are interested to become the customers of ICICI Pru.
Remaining 35 % can be potential customers in future

ICICI PRUDENTIAL
LIFE INSURANCE
RECOMMENDATIONS
 Affordable schemes must be launched for the 20 – 30 year olds drawing less than
5000 rupees per month, as monthly income of the people residing here is less.
 Try to have awareness program in Dharwad that people living there can come to
know the importance of the insurance.
 Company should increase the awareness of ICICI Life insurance products in areas
of Badami which offers huge potential.
 Many respondents are savings to buy a house / site. ICICI prudential can
capitalize on this yearning by offering house loans with low interest if customer
takes up insurance policies.
 The market should be tapped by entering into lower segment, by offering less
premium policies.
 It should establish a Branch office in Badami

ICICI PRUDENTIAL
LIFE INSURANCE
CONCLUSION
Now days there are many people, who want to invest their money in different
investment instrument. People invest their money for different purposes like savings, tax
savings, to gain returns, profits in future etc.
I am sure the company will find my findings relevant and I sincerely hope it uses
my suggestions enlisted, which I hope will take them miles ahead of competition.
In short, I would like to say that the very act of the concerned management at
ICICI Prudential in giving me the job of critically examining “AWARENESS OF ICICI
PRUDENTIAL IN BADAMI” is a step in their continual mission of making all round
improvements as a means of progress.
I am sure the company has a very bright future to look forward to and will be a
trailblazer in its own right.

ICICI PRUDENTIAL
LIFE INSURANCE
Annexure
QUESTIONNAIRE
Dear Sir / Madam
I am Mr. Vishwanath.G .Kukarni student of A.S.P collage of Commerence Bijapur. Doing
a dissertation which titled as “Awareness of ICICI Prudential Life Insurance benfit to me.
This information will be used only for academic purpose kindly co-operate.
1.Name :
2.Address :
3.Phone No :
4.Occupition :
a) Government Employee. b) Businessmen
c) Professional d) Education
e) Others Piz Specify
5.Monthly Income :
a) Less than 10,000. b) 10,000-20,000.
c) 20,000-30,000 d) 30,000-40,000
e) More than 40,000.
6.Approximately Monthly Savings :
a) Less than 2,000 b) 2,000-4,000
c) 4,000-6,000 d) 6,000-8,000
e) More Than 8,000

ICICI PRUDENTIAL
LIFE INSURANCE
7.Purpose of Savings :
a) Medical Expenses b) To purchase Assets
c) For child education d) For Retirement
e) Others
8.Where do you invest your Savings ?
a) Bank Deposit b) Insurance
c) Shares Gold d)Mutual funds
e) Others
10.Do you know concerning ICICI Prudential Life Insurance Co. Ltd.,
a) Yes b) No
If you go to next question.
In no skip …. And go to 13th question .
11. How did you come to know about ICICI Prudential?
a) News paper b) ICICI Advisor
c) Advertisement d) Friends / Relatives
e) Others
12.What is your level of information about the product of ICICI prudential ?
a)Good b) Moderate c) Others
13.Do you have any Life Insurance Policies ?
a) yes b) No.

ICICI PRUDENTIAL
LIFE INSURANCE
14.Which company’s Policy do you have ?
a) LIC b) ICICI Prudential
c) Bajaj Allianz d) SBI LifeBirla
e) Sun life f) Others
15. Please mention the policy you have taken?
a) Annuity b) Money Back
c) Endowment Policy Term d) ULIP
e) Retirement plan f) others
16. For what purposes are purchased?
a) For Future & Family Security b) for Children Education
c) Saving Plan d) Investment
e) Others Specify
17. Are you interested in any more policies in your future expect correct one ?
a) Yes b) No
18. Any Suggestion?
Thank you for your feedback. I sincerely appreciate your honest opinion and will take
your input into consideration while preparing my Project Report. If you have any
comments or concerns about this survey please Contact;

ICICI PRUDENTIAL
LIFE INSURANCE
BIBLIOGRAPHY
To obtain more information regarding the present study and to substantiate it
with Theoretical proof, the following references were made:
List of Books and other supplementary Material referred:
 Textbook on Marketing Management,
 Kotler, Philip and Gary Armstrong, principle of Marketing, Pearson
Education, 2
 Broachers of ICICI prudential Life Insurance Co. Limited
Web sites visited:
www.google.com
www.about.com
www.iciciprulife.com

ICICI PRUDENTIAL
LIFE INSURANCE

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ICICI PRUDENTIAL

Every human derives satisfaction when he purchases an asset income is necessary

when physically work is not possible through “money at work”

Generation of income is necessary to satisfy the acceptable needs of an

individual. Insurance is an only method of achieving this. Insurance is method of

only compensate the economic and financial loss.

ICICI (industrial credit and investment corporation of India) Prudential Life

Insurance Company is a joint venture between ICICI Bank, a premier financial

powerhouse, and prudential plc, a leading international financial services group

from Insurance Regulatory Development Authority (IRDA). Established in London in

policyholder and unit holders worldwide

This gives me an opportunity to work on this endeavor focusing on of

perception of respondents towards insurance products in Badami city.

B.L.D.E.A’S M.B.A. Programme, Bijapur 1

focal objectives of the dissertation undertaken

reference of those literatures.

actual collection of data and the tools used.

in the form of graphical representation.

B.L.D.E.A’S M.B.A. Programme, Bijapur 2

respondents opinion in nutshell as findings i.e. stating that around percentage of

B.L.D.E.A’S M.B.A. Programme, Bijapur 3

Awareness of ICICI Prudential Life Insurance Company Limited in

Under taken from Hubli

corporate world. It helps us to apply the theoretical knowledge in to practical experience.

Hence we have got an opportunity to get the exposure of corporate world.

My Company is ICICI Prudential Life Insurance Company Limited which is No.1

Pensions Player built on trust by world calls people and service.

Since the opening up of insurance market to private operators, India is considered

B.L.D.E.A’S M.B.A. Programme, Bijapur 4

It is necessary to understand what make people to buy insurance products. In this

consumers of ICICI Prudential. It necessities to understand the attitudes of consumers

towards products and services offered by ICICI Prudential.

B.L.D.E.A’S M.B.A. Programme, Bijapur 5

awareness of ICICI prudential Life Insurance Company Limited in as “Badami” its

advisors. My main objective of creating awareness “Badami”in city is going to be

accomplished by meeting different customers.

 To create awareness of ICICI prudential Life Insurance Company Limited in

 To know which is 1st popular life insurance player in“Badami”.

 To get knowledge about what people require from ICICI prudential.

 To know how people of “Badami”came to know about ICICI Prudential.

 To Provide adequate knowledge about the products of ICICI Prudential.

B.L.D.E.A’S M.B.A. Programme, Bijapur 6

STATEMENT OF THE PROBLEM

B.L.D.E.A’S M.B.A. Programme, Bijapur 7

2.1 INTRODUCTION OF INSURANCE COMPANY

Insurance is the business of providing protection against financial aspects aspects

of exposure to loss injure disadvantages.

B.L.D.E.A’S M.B.A. Programme, Bijapur 8

Brief History of Insurance

B.L.D.E.A’S M.B.A. Programme, Bijapur 9

Assurance at Lahore were established in 1906- In 1907, Hindustan Co-operative.

accounts, putting the Indian companies at a disadvantage.

mushrooming of Insurance companies many financially unsound concerns were also

B.L.D.E.A’S M.B.A. Programme, Bijapur 10

operating in India at the time of nationalization. Nationalization was accomplished in two

As a result of re-organization servicing functions were transferred to the branches, and

B.L.D.E.A’S M.B.A. Programme, Bijapur 11

many other cities.

and many other conveniences in the future.

rate of 16.67% over the corresponding period of the previous year.

as possible and to help the people in providing security to their families.

B.L.D.E.A’S M.B.A. Programme, Bijapur 12

soil started functioning.

company started its business.