A brief description on ICICI prudential insurance company & the products it offers for life insurance in market.

2. WE COVER YOU AT EVERY STEP OF LIFE

3. LIFE INSURANCE

4. CONTENTS
• Vision
• Values
• B.O.D
• Back Ground
• About us
• Introduction
• Departments
• Product/Services
• Underwriting Process
• Claim Process
• SWOT Analysis
• Market Share
• Conclusion

5. VISION
To be the dominant Life, Health and Pensions player
built on trust by world-class people and service.

6. VALUES
The success of the company will be founded in its
unflinching commitment to 5 core values.

7. VALUES

8. BOARD OF DIRECTORS
RELATIONSHIP
MANAGER
MR.
N.S.KANNAN
CHAIRPERSON
MS. CHANDA D. KOCHHAR
CHAIRPERSON
MS. CHANDA D. KOCHHAR
EXECUTIVE
DIRECTOR
MR.
ADRIAN O'CONOR
EXECUTIVE
DIRECTOR
MR.
RAJIV SABHARWAL
EXECUTIVE
DIRECTOR
MR.
BARRY STOWE
EXECUTIVE
DIRECTOR
MR.
K. RAMKUMAR

9. BACK GROUND
• Established in 1848 in U.K.
• Largest life ins. & mutual fund company in U.K. in last decade.
• Has had its presence in Asia for the past 75 years.
• Joint Venture between ICICI Bank & Prudential PLC.
• First Pvt. sector ins. Co. in December 2000 after IRDA approval In INDIA.

10. INTRODUCTION

11. ABOUT US
Introduces two types of insurance coverage by two different
sub-companies.
• ICICI Lombard General Insurance Company Limited
• ICICI Prudential Life Insurance Company

13. ICICI Lombard General Ins. Co.
• Joint venture between ICICI Bank & Fairfax financial Holdings Ltd.
• Established in 2001
• ICICI bank has 74% stake
• Fairfax has 26%
• Accredited with AAA rating by ICRA for 4 years

14. PRODUCTS/SERVICES
Health Insurance
Overseas Student
Medial Insurance
Travel Insurance Home Insurance
Auto Insurance

16. CURRENT SITUATION
• Established in December 2000
• Catering to over 1 million customers across 11 Asian countries.
• Accredited with AAA rating
• 559 offices in 489 locations at March 31, 2014
• 10,700 employees and over 171,000 advisors
• Capital stands at Rs 4,796 crores
• Assets under management of over Rs 80,000 crores

17. DEPARTMENTS

18. DEPARTMENTS OF ICICI
Finance
Department
Advertisement
Sales
Department

19. FINANCE DEPARTMENT
• Arora is Senior Vice President
Sources used by the company to finance their activities.
• Equity shares is Rs. 326,277 Million which is 67%of total
assets.
• Debt is Rs. 160,458 Million which is 33% of total assets.
• The loan and advances has decreased from 0.12% to 0.06

20. Cont..
Common size balance sheet
• Reserves and surplus has increased by Rs. 161193 which is
54%.
• Cash and bank balance has increased by 21.75%.
• Current liability have increased by 38.14%.
• Current assets has increased by 6.00%.

21. ADVERTISEMNT
• Mobile promotional
• Television advertising
• Wall hoardings Promotions strategy
• Radio advertising strategy
• Print media advertising strategy

22. SALES DEPARTMENT
BRANCH MANAGER
Vikas Seth
Area Manager
Ranajit Sinha
Sales Manager(SM)
Abinash Subba
Team Leader (TL)
Nainish Jhaveri

23. TWO FUNCTIONAL STRUCTURE
Bancassurance & Alliances
ICICI Prudential was a pioneer in offering life insurance solutions through
banks and alliances .
Tied Agency
Largest distribution channel of ICICI Prudential, comprising a large advisor
force that targets various customer segments.

24. PRODUCTS/SERVICES

25. PLANS
Term plans Retirement
plans
Wealth plans Group plans

26. TERM LIFE INSURANCE
• Simplest and most fundamental insurance product available at
extremely affordable prices.
• Individual pays a fixed amount of money periodically.
• Event of death of the policyholder, the entire amount paid, to
the deceased's family.

27. LIFE COVER
The table below gives an approximate HLV multiple for different age bands.
• An individual's HLV is typically expressed in terms of multiple of his/her
annual income.
AGE BAND HLV FACTOR
18-24 6
25-29 8
30-34 10
35-44 12
45-49 10
50-54 8
55-64 6
65-75 4

28. POLICIES
ICICI Pru
iProtect
ICICI Pru
Pure
Protect
ICICI Pru
LifeGuard

30. ICICI PRU
iProtectLife Insurance Plan
• You can now secure your family's future at the click of a
button.
• A non-participating term insurance plan that you can buy
online at your convenience.
• You can customize this term plan according to your insurance
needs.

31. OPTIONS
• ICICI Pru iProtect Option I: Where the death benefit
is equal to the sum assured
• ICICI Pru iProtect Option II: Where an additional
death benefit equal to the base Sum Assured or Rs. 5,000,000,
whichever is lower, is payable in case of death due to accident

32. DETAILS
Minimum / Maximum age at entry 20 / 65 years (Age completed birthday)
Policy term 10 / 15 / 20 / 25 / 30 years
Maximum age at policy expiry 75 years (Age completed birthday)
Minimum premium Rs. 2,000 (excluding service tax and
education cess)
Accidental Death Benefit (Only with
iProtect Option II)
Equal to Sum Assured, subject to a
maximum of Rs. 50 lacs
Mode of Premium payment Yearly

33. FEATURES
• Life insurance cover at extremely affordable premiums
• Special premium rates for non-tobacco users
• Instant life insurance cover with simple online application
process
• Additional pay out on death due to an accident,in case of
iProtect Option II

34. ICICI PRU
PureProtectLife Insurance
Plan

35. ICICI PRU
PureProtectLife Insurance Plan
• Pure Protect, with which you can insure your life and provide
total security to your family, at a very affordable cost.
• Invest in the plan that best suits your protection needs and
guarantees lifelong comfort and security to your family.

36. FEATURES/BENEFITS
• Term plan
• Death benefit
• Maturity benefit
• Waiver of Premium Rider
• Accidental Death and Disability Benefit Rider

37. ICICI PRU
LifeGuardLife Insurance
Plan

38. ICICI PRU
LifeGuardLife Insurance Plan
• LifeGuard acts as a sheild.
• A cost-effective plan, LifeGuard comes in two variants:
LifeGuard Single
Premium
LifeGuard
with Return
of Premium

39. LifeGuard Single
Premium
• Premium at policy inception, cover till policy matures.
LifeGuard with Return
of Premium
• Life cover with maturity benefit.

40. Cont..
Plan Minimum Sum
Assured
Policy Term Premium*
Instalments
LifeGuard
with Return of
Premium
Rs 5 Lakhs Between 10 & 30 years Monthly, half-yearly or
annually
LifeGuard Single
Premium
Rs 2.5 Lakhs Between 3 & 15 years Single Premium plan

41. FEATURES/BENEFITS
• Death benefit
• Extended life cover
• Additional riders
• Maturity benefit

42. RETIREMENT PLAN
Retirement insurance ensures that you or your family members
receive a regular pension amount post a retirement date.

43. WHY DO I NEED IT
• Longer retirement years
• Financial independence post retirement
• Inflation

44. WEALTH PLAN
• A lump sum amount of money at the maturity of the Policy.
• In the unfortunate event of death during the term of the policy, your
family receives lump sum amount.
• It combines the benefits of protection and saving in a single instrument

45. WHY DO I NEED IT
• Regular savings
• Protection

46. GROUP PLAN
• ICICI Prudential understands the importance of employee benefit
offerings.
• And has a suite of Group solution plans that provide both you and your
employees with a complete range of benefits.

47. GROUP RETIREMENT PLAN
• ICICI Pru Group “SUPERANNUATION” plan Unit linked/Non
linked.
• ICICI Pru Group “GRATUITY” plan ULIP/Non ULIP .

48. GROUP PROTECTION PLAN
• ICICI Pru Group Term Insurance plan
• ICICI Pru Group Annuity plan

49. UNDERWRITING

50. UNDERWRITING PROCESS
• Underwriting Guidelines
• Underwriting Documents Required
• Underwriting Process
• Underwriting Time Frames

52. CLAIM PROCESS

53. STEPS
• Intimation
• Claim Processing
• Claim Decision

54. INTIMATION

55. CLAIM PROCESS
• Scrutinizing
• Requirement is raised within 8 calendar days
• Updating
• Claim guidance

56. CLAIM DECISION
• Claim decision within 12 calendar days.
• Most of our pay outs through electronic modes.

57. FILE A CLAIM
• Mandatory documents
• Additional documents for non-accidental death
• Additional documents for accidental death

58. SETTLEMENT OF CLAIM
Turn Around Time
ICICI Prudential Life
Insurance Co. Ltd.
IRDA
Raising Requirements 8 Days 15 Days
Non-Early cases 12 Days 30 Days
Early cases 90 Days 180 Days
• 95% claims are settled within internal timelines.

59. SWOT ANALYSIS

60. STRENGTHS
Most
trustedNo.1
Innovation
Largest
Financial
Institute
Asset
Base
Highest Paid up
Capital

61. WEAKNESSES
• Competitors
• Target upper class people only
• English language only

62. OPPORTUNITIES
• Huge Market
• More Corporate agents
• No. of adopting new technology
• Strong Brand
• Emotionalism in people

63. THREATS
• Existing life insurance players
• New entrance
• Change in the policy of IRDA
• Lack of awareness

64. MARKET SHARE

65. 16.1
18.5 18.9
5.9
7 7.2
0
2
4
6
8
10
12
14
16
18
20
FY 2012 FY 2013 FY 2014
Pvt. Industry
Overall Industry

66. COMPARION

67. CONCLUSION

68. CONCLUSION
ICICI Prudential Ins. Co. is known for its excellence in the
insurance sector today. The company follows a well defined
sound and effective recruitment and selection policies and
procedures.Thus the company has scope to increase the number
of the employees to operate for its further establishment and
expansion of business and to acquire the best human resource
in this competitive environment.

69. REFRENCES
• https://www.iciciprulife.com/public/pdf/Investor-
Relations/Investor%20Relations/ICICI_Prudential_Annual_Report_FY_201
4.pdf
• http://www.iciciprulife.com/public/About-us/Management-Profile.htm
• http://en.wikipedia.org/wiki/ICICI_Lombard
• http://www.iciciprulife.com/public/Life-plans/what-is-term-plan.htm
• http://www.slideshare.net/amitsoni/financial-analysis-of-icici-prudential-
life-insurance?related=2