You are on page 1of 19

ICICI Prudential Life

Presented by:
Rakesh beriwal

Insurance

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

PRODUCTS
Term life insurance:TermInsurancePlansaredesignedtoensurethatintheeventofthepolicyholders
death,thefamilygetsthesumassured(thecoveramount).
4 stepclaimprocess:
IntimationofclaimtoICICIPrudentialLife
ICICIPrudentialLifetohelptheclaimanttocompletethedocumentation
Claimanttosubmittherequireddocuments
ICICIPrudentialLifetotakedecisionontheclaim

Wealth insurance: Wealthinsuranceensuresthatyoureceivealumpsumamountofmoneyatthematurityof


thePolicy.Intheunfortunateeventofdeathduringthetermofthepolicy,yourfamilyreceiveslumpsumamount,
calledtheSumAssured.Thusitcombinesthebenefitsofprotectionandsavinginasingleinstrument.

Child insurance

: Educationsolutionsensurescomprehensivefinancialplanningforyourchildseducation/

developmentalneeds..Itoffersfinancialprotectiontoyourchildsfutureintheunfortunateeventofyourdeath.

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

Protection solution

Annuity Solutions

Group Gratuity Plan

Group Leave Encashment Plan

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

ICICI Prudential
Branch

Service Being
Divided by
customer

Attended by
executive

Queries Being
Asked

Convincing the
Person

Removing any
Misconceptions

Efforts made
to provide
solutions

Efforts made
to know
interest

Ending with

Solving the
query/closing
the deed

Creating liking
for the Product

THANK YOU !!!