ICICI PRUDENTIAL LIFE INSURANCE

Presented by:
Anjali Purohit(11BSPHH010120)
Neha Malviya(11BSPHH010519)
Deep Shome(11BSPHH010252)
Prateek Bhayana (11BSPHH010598)

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

PRODUCTS

Term life insurance:TermInsurancePlansaredesignedtoensurethatintheeventofthe

policyholdersdeath,thefamilygetsthesumassured(thecoveramount).

4 stepclaimprocess:

IntimationofclaimtoICICIPrudentialLife

ICICIPrudentialLifetohelptheclaimanttocompletethedocumentation

Claimanttosubmittherequireddocuments

ICICIPrudentialLifetotakedecisionontheclaim

Wealth insurance: Wealthinsuranceensuresthatyoureceivealumpsumamountofmoneyatthe

maturityofthePolicy.Intheunfortunateeventofdeathduringthetermofthepolicy,yourfamily
receiveslumpsumamount,calledtheSumAssured.Thusitcombinesthebenefitsofprotectionand
savinginasingleinstrument.

Child insurance: Educationsolutionsensurescomprehensivefinancialplanningforyourchilds

education/developmentalneeds..Itoffersfinancialprotectiontoyourchildsfutureintheunfortunate
eventofyourdeath.

DETAILS OF POLICIES
POLICY NAME

AGE

ICICI Pru iCare

PREMIU
M

TERM

BENEFITS

18 - 65 Rs 3,000
years

5-30 years

Premium paid towards the

policy will be eligible for tax
benefits u/s 80C of the
Income Tax Act, 1961 2

ICICI Pru Pure

Protect

18 / 65 Rs. 2,400
years
p.a.

10 / 30
years

any benefit amount received

under this policy will be
eligible for the tax benefit
under section 10 (10D), as
per prevailing Income Tax
laws

ICICI Pru
LifeGuard

18 / 65 Rs. 2,400
years
p.a.

10 / 30
years

In case of total and

permanent disability due to
an accident, this rider would
waive future premiums till
maturity.

ICICI Pru Home

Assure

18 / 60 Rs. 6,000
years
p.a.

2-30 years

On the death of the life

assured, the benefit based
on the initial loan schedule
will be payable.

ICICI Pru iAssure 8-70

Single Premium years

Rs.
20,000

5 or 10
years

Tax benefits u/s 10(10D) will

not be available and benefits
received under the policy
will be taxable

ICICI Pru

18,000

15 Years

You have a choice of

paying premiums for

30

DETAILS OF POLICIES

CONT..

POLICY
NAME

AGE

PREMIUM

TERM

BENEFITS

ICICI Pru
Whole Life

0 / 60 years

Rs. 6,000 per

annum

Whole life

Life cover,
Wealth
creation,
Additional life
cover, Avail of
tax benefits

ICICI Pru
Save'n'Protect

0 / 60 years

Rs. 6,000 p.a. 10 / 30 years

Accident and
Disability
Benefit Rider,
extended cover
for 5 years
after maturity
of the policy

ICICI Pru
CashBak

16 / 70
years

Rs. 6,000 p.a. 15 / 20 years

Survival
Benefits, Death

ICICI Pru
SmartKid
Regular
Premium

0 / 25 years
20 / 70
years

Rs. 8,400 p.a

benefit,
Accident and
Disability
Benefit Rider

10 / 25 years

Benefits at
critical
educational
milestones,gua
rantees a
regular income

SEGMENTATION
POLICY NAME

Demographic

Socio-Economic

Geographic

ICICI Pru iCare

18-60yrsabove

Lower middle
class and above

Urban and rural

india

ICICI Pru Pure

Protect

18-60yrsabove

Lower middle
class and above

Urban and rural

india

ICICI Pru
LifeGuard

18-60yrsabove

Lower middle
class and above

Urban and rural

india

ICICI Pru Home

Assure

18-60yrsabove

Upper middle
class and above

urban

ICICI Pru iAssure

Single Premium

1-60yrsabove

upper middle
class and above

urban

Upper middle
class and above

urban

25-50yrs
ICICI Pru
Guaranteed
Savings Insurance
Plan

SEGMENTATION
POLICY NAME

Demographic

Socio-Economic Geographic

ICICI Pru Whole

Life

1-60yrsabove

Upper middle
class and above

urban

ICICI Pru
Save'n'Protect

1-60yrsabove

Upper middle
class and above

urban

ICICI Pru
CashBak

18-60yrsabove

Upper middle
class and above

urban

1-60yrs
ICICI Pru
SmartKid Regular above(childrenand
parents)
Premium

Upper middle
class and above

urban

5-18yrsabove
ICICI Pru
SmartKid Premier

Upper middle
class and above

urban

HEALTH INSURANCE
Policy Name

Age

Benefit

Cover

ICICI Pru Health

25 - 55

Policy Holder
dependent

All problems
that require
hospitalization
and Critical
Illness

ICICI Pru
Hospital Care II

01 - 65

Policy Holder
dependent

All problems
that require
hospitalization

ICICI Pru Crisis

Cover

18 - 60

Upto 20 lakh

35 MAJOR
ILLNESS

Segmentation
Policy Name

AGE
(Demographic)

Social
Class
(Psychographic
)

Attitude
Towards
Product
(Behavioral)

ICICI Pru Health

25 55

Working Class

Positive

ICICI Pru
Hospital Care II

01 - 65

Upper Class

Highly Positive

ICICI Pru Crisis

Cover

18 - 60

Working
Class

Low Postivity

RETIREMENT PLANS

Name

Age (At
entry)

Minimum
Annuity

Maximum
Cover *

ICICI Pru
Immediate
Annuity

45 100
years

Rs 12000

Not
Defined

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)

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)

GROUP PLANS
RETIREMENT SOLUTION

Group Gratuity Plan

Group Leave
Encashment Plan

PROTECTION SOLUTION

Annuity Solutions
Group Term
Insurance Plan
Credit Assure Utility

RURAL PLANS
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.

SEGMENTATION
Products

Age

Socio-economic

Geographic

GroupGratuityPlan

18-60

Workingclass

urban

Groupleave
encashmentplan

18-60

Workingclass

urban

AnnuitySolutions

45-80

Workingclass

urban

GroupTerm
InsurancePlan

18-70

Workingclass

urban

CreditAssureUtility

18-60

Workingclass

urban

SarvaJanaSuraksha

18-55

Farmers/lowerincome

Rural

18-50

Farmers/lowerincome

Rural

AnmolNivesh

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

DISTRIBUTION

Team Size: 13,000 Professionals

Distribution Touch Points: 5,000
Advisors:175,000
Customer Service Touch Points: 10,000

Grievances:
Call-Centres, Branches, E-mail, Letter & Web
Grievance Redressal Officer
Senior Management Grievance Redressal Offi
Grievance Redressal Committee

Flow Chart Depicting Service flow of ICICI Prudentia

THANK YOU !!!