ICICI Lombard GIC Ltd is a joint venture between ICICI Bank and Fairfax Financial Holdings. It deals in personal and business insurance products. The document discusses ICICI Lombard's management structure, SWOT analysis, role of insurance in the economy and society, products offered, distribution channels, use of MIS, and potential for growth in the Indian insurance sector.
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Case study Analysis and Presentation -ICICI Lombard
1. PRAYAS - 2015
By: Purvi Jain
(MBA-II Year)
Case Study Analysis and Presentation Competition
2. INTRODUTION
ICICI Lombard GIC Ltd. is a joint venture between ICICI Bank
Limited, India's second largest bank and Fairfax Financial Holdings
Limited, a Canada based diversified financial services company.
ICICI Lombard deals in personal products and business products.
ICICI Lombard has various achievements and recognitions.
3. Sandeep Bakshi
( MD and CEO)
1. Sales
2. Claims
3. Underwriting
4. Marketing
MD and CEO
(Sandeep
Bakshi)
Executive
Director
(Vishakha Mule)
Retail Head
(Rakesh Jain)
6. Mobilization of savings
A medium to save and invest money
Social security-
-Sense of security and safety
-Employment generation
Aid at the time of-
-Old age and retirement
-Education
-Marriage
-Risks related with fire, theft,
accidents and others.
7. Fosters investment and Innovation
Stimulation for commerce, trade and
industry
Transfer of risks
Survival and long life of business
8. Impact of
Privatization
Growth of
• Industrial sector
• Education
• Technology
• Financial Markets
• FDI
• Insurance
• Increased awareness
• Increased Risks
• Increased pays
• Customer Satisfaction
• Literacy
• New Insurance Products
• Untapped rural market
Huge
potential
for
Insurance
9. The life insurance penetration as a %
of GDP stood at 4.40 in 2010-11, while
the non life insurance penetration
remained at 0.71 during the same
period. In other words there is vast
untapped potential as regard
insurance penetration.
10. Personal Products Business Products
• Health Insurance
• Home Insurance
• Motor Insurance
• Overseas travel
Insurance
• Domestic Travel
Insurance
• Student Medical
Insurance
• Fire Insurance
• Marine Insurance
• Industrial Insurance
• Corporate Insurance
• Liability Insurance
• Credit Insurance
Channels
Sales
Executives
Sales force
Agents
Brokers
Online
Banks
Bancassurance
channel
Telesales
Channel
Sale of
Products
Customer and
Claim
Settlements
11. Diversified Indian markets
Regulatory Environment
Who, What, Why, When and how will buy the product???
Competition : Public and Private
Claim Settlements
Attrition rate
12. MIS is designed to acquire, store and convert data in to timely
relevant information to help managers carry out the planning,
control and operation and operational functions of the
organizations.
• Transaction Processing System (TPS)
• Management Information System (MIS)
•Decision Support System (DSS)
13. Data mining
Right use of information
By planning the information architecture
Customer Relationship Management
Faster Business process
Office Automation system
Geographic Information System
Information
Time
Place
Price
Source
Customer
15. Insurance sector has lots of potential to grow. In
this aura of cut throat competition the need is to
delight customers through innovative products and
services, ICICI Lombard surely would reach
Emerald Heights.