Group 1

Anup Anand
Pranshu Priyadarshi
Pritha Sengupta
Subasish Jana
Vijay Kumar
Aditi Bhowmick
Jagmohan Waraiich
Brief History Of Insurance

 The business of life insurance started in

India in the year 1818 with the
establishment of the Oriental Life
Insurance Company in Kolkata. With
time, many private insurance companies
emerged up, ICICI PRUDENTIAL LIFE
INSURANCE COMPANY is one of them.
 ICICI PRUDENTIAL LIFE INSURANCE
COMPANY started their operation in
December 2000. Currently they are having
2,074 branches, 2,25,000 advisors & 7
bank assurances.
STRATEGIC BUSINESS UNIT

TIED
(Advisor)

B &A
(Bank)
FIELDS OF OPERATION

Education Plan
Wealth Creation Plan
Protection Plan
Premium Guaranteed Plan
RECESSION CAUSES
 Fall in growth rate(i.e.  FII
negative) in two
consecutive quarter is  Reality Bubble
called recession.
 India is not experiencing
 Restricted Flow Of
any recession since we are
Capital
averaging 6% growth rate
but we have economic slow
down.
CAUSES

 Reality Bubble : Inflated prices of houses led

unrealistic prices which fell when faced with

 FII(Foreign Institutional Investors) : They pumped

so much money leading to inflated commodity prices
& when they withdraw it just fall from 21000-8500
sensex.

 Restricted flow of Capital : So due to this capital

flow was restricted & businesses are not able to get
the required flow of working capital.
PROBLEM IDENTIFICATION

 Capital(premium) Depleted : In the 3rd quarter of

2007 there was abrupt fall from 9000 to 7500
crores.
 Large losses of the market value of the insurers.
 Financial havoc among the customers.
 Customer’s confidence shaken.
EFFECTS

 Fall in the valuation in share market since most of

their premium was coming from ULIP.
 NAV(Net asset value) falling.
 Rate of investment falling.
 Renewal premium falling leading to lapse of
policies.
 Fall in the revenue.
 Job cuts – out of 33000 employees, 2000 job cuts.
MEASURES

 Customer Orientation – HNI meet, Win-Over sessions,

Meeting customers personally.
 Cost Cut – Logistics.
 Grievance Handling.
 Slashing of promotions & salary hike.
 Reduction in Fringe benefits.
 Focus shifted from ULIP to Guaranteed Return Plan.
 4 RGFs(Return Guaranteed Fund) were launched.
PRESENT SCENARIO

 Eastern India contributed around 8.5% of

the total revenue.
THANK