Description
ICICI PRUDENTIAL LIFE INSURANCE PROJECT
Presented By
Product Profile
1. 2.
• • • • • • •
Insurance Solutions for Individuals Savings & Wealth Creation Solutions
Cash Plus Save’n’Protect Cash Back Lifetime Super & Lifetime Plus Life Link Super Premier Life Gold Invest Shield Life New Invest Shield Cash back
3. Protection Solutions
• • LifeGuard Home Assure
4. Child Plans
• • Education insurance SmartKid
5. Retirement Solutions
• Forever Life
•
•
Life Time Super Pension
Life Link Super Pension
6. Health Solution
• Health Assure and Health Assure Plus
•
Cancer Care
7. Group Insurance Solutions
• • • • Group Gratuity Plan Group Superannuation Plan Group Immediate Annuities Group Term Plan
8. Flexible Rider Options
• • • • Accident & disability benefit Critical Illness Benefit Income Benefit Waiver of Premium
Strengths
1. ICICI Prudential is No. 1 private life player in India. 2. Innovative insurance policies with rider benefits. 3. Motivation factors provided by the company. 4. One of the largest financial Institution of India’s. 5. Second largest bank with network of 469 branches and 1740 ATM’s across India. 6. A huge database of corporate clients, retail customer, and bank customers of ICICI.
7. Training provided to all people associating with ICICI prudential.
8. Highest paid up capital deposited in IRDA, in comparison to all players. 9. Assets base of ICICI is more then Rs 1, 08,000 Crores.
WEAKNESS
1. Very huge premiums of policies. 2. Compare to other insurance sector.
3. Minimum premium is 19000.(Expect tax saving policy only 10,000)
4. Target upper class people only. 5. Policy charges are very high. 6. And problematic to advisors also. 7. Poor distribution is in English language only.
OPPORTUNITIES
1. Tie up with more corporate agents all over India.
2. Tie up with broker also
3. No. of adopting new technology.
4. Strong Brand of Company Helps to boost sales inn market
5. Attract more people of providing customer centric products
THREAT
1. Threat from existing life insurance players
2. Threat from new entrance.
3. Threat to substitute products
4. Change in the policy of IRDA
5. Competition from more & more new players 6. People don’t aware of different distribution channel
50 45 40 35 30 25 20 15 10 5 0
Below 25 25 To 35 35 To 45 45 To 55 Above 55
35 30 25 20 15 10 5 0 Below 25 35 To 45 Above 55 Cash Back Life Time
35 30 25 20 15 10 5 0 Below 25 35 To 45 Above 55 Fully Satisfied Satisfied Not Satisfied
doc_630762708.ppt
ICICI PRUDENTIAL LIFE INSURANCE PROJECT
Presented By
Product Profile
1. 2.
• • • • • • •
Insurance Solutions for Individuals Savings & Wealth Creation Solutions
Cash Plus Save’n’Protect Cash Back Lifetime Super & Lifetime Plus Life Link Super Premier Life Gold Invest Shield Life New Invest Shield Cash back
3. Protection Solutions
• • LifeGuard Home Assure
4. Child Plans
• • Education insurance SmartKid
5. Retirement Solutions
• Forever Life
•
•
Life Time Super Pension
Life Link Super Pension
6. Health Solution
• Health Assure and Health Assure Plus
•
Cancer Care
7. Group Insurance Solutions
• • • • Group Gratuity Plan Group Superannuation Plan Group Immediate Annuities Group Term Plan
8. Flexible Rider Options
• • • • Accident & disability benefit Critical Illness Benefit Income Benefit Waiver of Premium
Strengths
1. ICICI Prudential is No. 1 private life player in India. 2. Innovative insurance policies with rider benefits. 3. Motivation factors provided by the company. 4. One of the largest financial Institution of India’s. 5. Second largest bank with network of 469 branches and 1740 ATM’s across India. 6. A huge database of corporate clients, retail customer, and bank customers of ICICI.
7. Training provided to all people associating with ICICI prudential.
8. Highest paid up capital deposited in IRDA, in comparison to all players. 9. Assets base of ICICI is more then Rs 1, 08,000 Crores.
WEAKNESS
1. Very huge premiums of policies. 2. Compare to other insurance sector.
3. Minimum premium is 19000.(Expect tax saving policy only 10,000)
4. Target upper class people only. 5. Policy charges are very high. 6. And problematic to advisors also. 7. Poor distribution is in English language only.
OPPORTUNITIES
1. Tie up with more corporate agents all over India.
2. Tie up with broker also
3. No. of adopting new technology.
4. Strong Brand of Company Helps to boost sales inn market
5. Attract more people of providing customer centric products
THREAT
1. Threat from existing life insurance players
2. Threat from new entrance.
3. Threat to substitute products
4. Change in the policy of IRDA
5. Competition from more & more new players 6. People don’t aware of different distribution channel
50 45 40 35 30 25 20 15 10 5 0
Below 25 25 To 35 35 To 45 45 To 55 Above 55
35 30 25 20 15 10 5 0 Below 25 35 To 45 Above 55 Cash Back Life Time
35 30 25 20 15 10 5 0 Below 25 35 To 45 Above 55 Fully Satisfied Satisfied Not Satisfied
doc_630762708.ppt