A Project Report On Customer Perception and Attitude Towards ICICI Prudential Life Insurance

Customer perception and attitude towards ICICI Prudential life insurance
INDEX
SL NO
CONTENTS EXECUTIVE
SUMMARY
PAGE NO 1-2 3-12 13-32 33-36 37-74 75-76 77 78 79 80-85
1 2 3 4 5 6
ABOUT INDUSTRY COMPANY

PROFILE
RESEARCH METHODOLOGY DATA ANALYSIS FINDINGS SUGGESTIONS
7 CONCLUSION 8 9 10
BIBLOGRAPHY
APPENDICES
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EXECUTIVE SUMMARY
The main purpose of the study is to be identified the customers perception and attitude towards ICICI Prudential life insurance at Hubli City which will help the company to make the marketing strategy. The study will help the company to make strategies and new products/Plan and emphasize on their weaker areas. And also The Brand Image of various companies will be known which will helps the company to find out where their competitor stands in the minds of the people. And also the most of the people are invested in the insurance. Majority of the people are need safety investment and also to get the more returns. And majority of the people are aware of the ICICI Prudential it is 83% as per the study.
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Topic of the study

Customer perception and attitude towards ICICI Prudential life insurance at Hubli
Research objective
1) To examine the awareness of customers to life Insurance(ICICI Prudential) 2) To know the satisfaction level of customers. 3) To identify the expectations of customers towards life Insurance.(ICICI Prudential) 4) To study the needs of customers. 5) To know the opinion regarding benefits provided by life insurance (ICICI Prudential). 6) To compare ICICI prudential life insurance with competitors.
Out Comes
Out of the 100 respondents more number people are invested in ICICI Prudential that is 53%, and less in the other insurance company. Out of 100 respondents know in the ICICI prudential T.V.Advetisement19%, News Paper and Magazines 26%, Company Advisors 33% Friends and relatives 8% and 14% not responding majority is company advisors. Out of the 100 respondents they excepting quick service it 48% and transferency 22%, convenient investment facility 16%, quick settlement 12% and not responding 2%. Out of the 100 respondents the benefits partialwithdrawl 28%,loan on policy 23% charges 5%, Bonus on policy 23%, return on investment 7% and pay back period is to be 6% in this partialwithdrawal is more majority Out of the 100 respondents 81% people are need insurance policy and 19% peoples are not need any insurance policy. The more number of the people need life insurance policy. (Datils findings mentioned in the page No. 75)
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A Brief history of the Insurance Sector

The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance in India are; 1912: The Indian Life Assurance For over 50 years, life insurance in India was defined and driven by only one company- the Life Insurance Corporation of India (LIC). With the Insurance Regulatory and Development Authority (IRDA) Bill 1999 paving the way for entry of private companies into both life and general sectors there was bound to be new-found excitementand new success stories. Today, just three years since their entry, their cumulative share has crossed 13% (source: IRDA), far exceeding expectations. Clearly insurance is on a growth path. The percentage of premium income to GDP which was just 2.3% in 2000-01 rose to 3.3% in 2002-03; and life insurance has emerged as the dominant contributor to this growth. The industry presented a huge opportunity. Life insurance penetration, for instance, was at an abysmal 22% of the insurable population. However, private players have had to rise to many challenges. They were faced with attitudinal barriers towards the category and the perception that insurance was only a tax saving tool. Insurance per se had lost it basic rationale: protection. It wasnt surprising then that its potential lay frozen and unexploited. The challenge for private insurance players was to change the established category driver and get customers to evaluate life insurance as an investment-cum-protection tool.
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Insurance Every assets have a value for its owner and also for those who are benefited with the existence of that asset. Insurance is concerned with the protection of economic value of assets. All of us are interested in the creation of assets because: All assets have Values, They yield income to owner. They meet some other need of the owner. They may provide satisfaction of some needs and yield income to the owner. Insurance in India The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries.
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The Insurance Regulatory and Development Authority (IRDA)

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. The other decisions taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies were the launch of the IRDAs online service for issue and renewal of licenses to agents. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products, which are expected to be introduced by early next year. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. In the private sector 12 life insurance and 6 general insurance companies have been registered.
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Function and powers of IRDA

It is issues the applications in insurance area, a certificate of registration as well as renewal modification, withdrawal, cancellation of registrations. It protects the interests policy holder in any insurance co in the matters related to the assignment of policy, nomination by policy holder, insurable interest and resolution of insurance claim, submission value of the policy. Once of the major functions of the IRDA includes endorsing competency in the insurance business. Apart from this upholding and regulating professional organization insurance and reinsurance business is also major duty of IRDA IRDA is also entitled to for asking for information, undertaking inspection and investigating the audit of the insurance business is also a major duty. IRDA is specifies the terms and pattern in which books of accounts are to be maintained and statement of account shall be provided by insures and other insurance mediators. It is also regulates investment of fund by insurance companies as well the maintenance of margin of solvency. It is also empowered to be involved in the arbitration of disagreements between insurers and insurance intermediaries. It is meant to specify the proportion of premium income of the insurer to finance policies. IRDA also specifies the share of life insurance business and general insurance business to be accepted by the insurer in the rural or social sector
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Impact of IRDA on Indian Insurance sector

The creation of IRDA has brought revolutionary changes in the Insurance sector. In last 10 years of its establishment the insurance sector has seen tremendous growth. When IRDA came in to being: only players in the insurance industry were Life Insurance Corporation(LIC)General Insurance Corporation of India(GIC),now in the last decade 23 new players have emerged in the filed of insurance. The IRDA also successfully deals with any discrepancy in the insurance sector. Advantages of life insurance:
Life insurance policy creates an estate: If the bread winner or the saving holder
unfortunately dies then the insurance company will become payable lump sum amount than what ever premium amount paid by the policy holder. By this we can say that the life insurance will provide the financial help to the insured dependents. Life insurance is forced to continue the payment of the premium. But in the other savings the holder can have chance to withdraw the money when he want to fulfill his desires. But in case of life insurance there is no any chance for withdraw the money then he has to surrender his policy then the very small percentage of amount will paid by the insurance company. Because of this the policyholder does not go for withdraw the money. Any court of law or income tax authorities cannot attach life insurance. In this insurance the married person can take policy under married womens property acts for the benefit of his wife/children and create separate estate for their benefit. Life insurance thus can be used as a gift to the near and dear Life insurance can be utilized as a collateral security for housing loan. In case of the death of the policy holder then the amount available under the life insurance policy is adjusted for the payment of outstanding loan and interest. It will help to the dependents of the policyholder. The proceeds of a life insurance policy including any bonuses paid are not liable for income tax.
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The settlement of the claim of the policy is very simple. In case of death of the insured, the insured amount will be paid to the nominee of the policy and in case of the survival of the policyholders till at the end of the maturity period then the insured amount will be paid to the policy owner. People need for Insurance 1) It provides the financial security to the family. An untimely / sudden death of the breadwinner the result is that the family faces a great financial problem. So that time Life Insurance is a best instrument for family to solve the financial problem. 2) Every person lives in dreams-dreams like high education for Children, grand marriage to daughters, etc. Life insurance will make such dreams come true if the even dreamer is no more. 3) Own shelter has become an essential to every one. Many institutions offer mortgage loan for purchase or construction of a house or flat. Life insurance acts as a collateral security in respect of such loans. Without such security the same shelter considered on asset as long as the house purchaser is alive. Will become liability to the family if he dies before repayment of the entire loan. 4) Life insurance provides financial independence in old age. The lump sum maturity value of a policy when received can be invested to yield interest sufficient to meet expenses after retirement from work life. 5) Organization can purchase group life insurance polices as part of their employee welfare program. This acts as a moral booster to the worker and result in improved productivity.
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Stages/ steps in Policy Issuance 1) Proposal A Proposal Stage is the First stage before the policy is issued at COPS. At this stage, the application form is received by COPS, but it is pending for issuance due to further clarifications required from the customer. 2) Login A proposal which is complete i.e., duly filled with all necessary documents attached to it & accepted by the Branch ops, is called a Login 3) Reject An Application gets rejected at the Branch Ops level due to necessary details not filled in the form or necessary documents not submitted is a Reject. It is then sent back to the Advisor for completion. 4) Issuance Issuance means a policy that is issued to the Customer by Central Ops. 5) Decline Status When a customer refuses to take a policy post login but before Issuance is called a Decline 6) Cancellation When the cheque given by the customer bounces, it amounts to cancellation of the policy. 7) Lapse A policy for which the Customer fails to pay subsequent premiums is a Lapsed Policy.
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INSURANCE COMPANIES
IRDA has so far granted registration to 12 private life insurance companies and 9 general insurance companies. If the existing public sector insurance companies are included, there are currently 13 insurance companies in the life side and 13 companies operating in general insurance business. General Insurance Corporation has been approved as the "Indian reinsurer" for underwriting only reinsurance business. Particulars of the life insurance companies and general insurance companies including their web address are given below: LIFE INSURERS Public Sector Life Insurance Corporation of India Private Sector Allianz Bajaj Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. Limited ICICI Prudential Life Insurance Co. Limited ING Vysya Life Insurance Company Limited Max New York Life Insurance Co. Limited MetLife Insurance Company Limited Om Kotak Mahindra Life Insurance Co. Ltd. SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited Dabur CGU Life Insurance Co. Pvt. Limited GENERAL INSURERS Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited Private Sector Bajaj Allianz General Insurance Co. Limited ICICI Lombard General Insurance Co. Ltd. IFFCO-Tokio General Insurance Co. Ltd. Reliance General Insurance Co. Limited Websites www.licindia.com www.allianzbajaj.co.in www.birlasunlife.com www.hdfcinsurance.com www.iciciprulife.com www.ingvysayalife.com www.maxnewyorklife.com www.metlife.com www.omkotakmahnidra.com www.sbilife.co.in www.tata-aig.com www.ampsanmar.com www.avivaindia.com
www.nationalinsuranceindia.com www.niacl.com www.orientalinsurance.nic.in www.uiic.co.in www.bajajallianz.co.in www.icicilombard.com www.itgi.co.in www.ril.com
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Introduction ICICI Prudential

The retail financial services industry is undergoing a fundamental transformation as one of the biggest demographic waves in history transitions out of the workforce and into active retirement. Some estimates suggest that, in the US and the UK alone, some 7 trillion of assets could move into the retirement market over the next five years, and there is also a significant and growing retirement opportunity in Asia. Not only are these people likely to live longer than previous generations, but their needs are fundamentally different from their predecessors. In particular, many are looking for a more active life style in retirement, but often underestimate the savings required for this. In addition, there is a move towards greater self-provision as a result of declining state support. The increased cost of long-term care is also a significant factor, as is the need to protect the value of assets against inflation over longer periods of time. We believe that this global retirement opportunity will be a significant driver of growth and profitability over the coming years, and that we have a set of assets and capabilities which position us extremely well to capture a disproportionately large share of that opportunity in our chosen markets. These include our brands, our investment and risk management skills, our product innovation and our powerful distribution networks.
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COMPANY PROFILE
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 receiving approval from Insurance Regulatory Development Authority (IRDA). The total capital infusion stand at Rs47.80 billion, with ICICI bank holding a take of 74% and Prudential plc holding 26% and also Today ICICI Prudential is our nation team comprises of 2099 branches (inclusive of 1116 micro-offices), over 276000 advisors, and 18 brancassurance partners.
Vision
To be the dominant Life and Pension player built on trust by world class people and service. This they hope to achieve by: Understanding the needs of customers and offering them superior products and service Leveraging technology service customers quickly, efficiently and conveniently Developing and implementing super risk management and investment strategies to offer sustainable and stable returns to their policyholders Providing an enabling environment to foster growth and learning for their employees And above all, building transparency in all their dealings.
Mission In the ICICI prudential Life Insurance Company is continues process, movement and direction to enable every individuals as a member of ICICI company community, to realize and active his potential so as to contribute to the achievement of the insurance goal and derive satisfaction there from.
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Objectives Excellence in customer service. Profit orientation. Belongings and commitment to the organization. Fairness in all dealings and relations. Risk taking and innovation. Team playing. Learning and renewal Integrity. Transparency and discipline. In policies and syste VALUES: Every member of the ICICI Prudential team is committed to 5 core values: Integrity, Customer first, Boundary less, Ownership, and passion. The values shine fourth in all we do, and have become the keystones of our success.
Promoters
ICICI Bank ICICI Bank Limited (NYSE:IBN) It is India s largest private sector bank and the second largest bank in the country with consolidated total assets of about US$ 95 billions of march 31,2009. The ICICI Bank subsidiaries include Indias leading private sector insurance companies and among its largest securities brokerage firm, mutual funds and private equity firm. The ICICI currently operation 19 countries including India.
Prudential plc It is established in London in 1848, prudential plc is a leading internal

retail financial services group with significant operation is Asia and UK. Prudential has been writing protection and savings insurance for over the 160 years, and today has more than 21million customers worldwide and over 249billion assets under management as of December 31, 2008. In Asia, Prudential is leading Europe-based life insurance with operations in China, Hong Kong, India, Indonesia, Japan,, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam, prudential is largest asset management. And operation in ten market including China, Hong Kong, India, Japan, Korea, Singpore, Taiwan, Vietnam, and United Arab Emirates.
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BOARD OF DIRECTORS
The ICICI prudential Life Insurance Company Limited Board Comprises reputed people from the finance industry both from India and abroad.
Mr.Chanda D.Kochhar, Mr. N. S. Kannan, Mr. K.Ramkumar, Mr. Barry Stowe, Mr. Adrisan OConnor, Mr. Keki Dadiseth, Prof. Marti G. Subranhmanyam, Ms. Rama Bijapurkar, Mr. Vinod Kumar Dhall, Mr. V. Vaidyanathan,
Chairperson Director Director Director Director Independent Director Independent Director Independent Director Independent Director Managing Director andCEO
Management Team
Mr. V. Vaidyanathan Ms. Anita Pai Dr. Avijit Chatteriee Mr. Puneet Nanda Managing Director and CEO Executive Vicepresident Customer Techonology andMarketing services Appointed Actuarcy Executive Vice President
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ORGANIZATION STRUCTURE
CEO Senior Voice President
Voice President
ZM Manager
Regional Manager
Associate Regional Manager
Area Manager/Sales Manager
Sourcing structure
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Unit Manager
Senior Agency Manager
Agency Manager
Business Manager
Senior business Manager
STUDY OF DEPARTMENTS IN THE ICICI PRUDENTIAL Finance

Finance function in ICICI Prudential is committed to create an infrastructure that is aligned to shareholder expectations. Finance basically comprises of four functions. . Corporate Planning and MIS provide feedback on business strategies. This includes driving the budgeting process, providing strategic inputs for decision-making and management reporting and analysis. The Accounts function includes preparation and maintenance of financial records, funds management, and expense processing and treasury operations. Compliance ensures that every action is within the regulatory framework. This includes reviewing compliance requirements and supporting the ethical framework of ICICI Prudential life. Internal audit provides assurance to the management over the organizations' control framework and includes process risk management, information security assessment and business continuity assessment.
Marketing
The Marketing function at ICICI Prudential life insurance covers an array of activities brand and media management, channel support, direct marketing and corporate communications. The Brand and Communications team is in charge of advertising, consumer research, media planning & buying and Public Relations; that helps develop and nurture ICICI Prudential's corporate identity while effectively communicating its varied product offerings to the customer. Channel marketing provides support to the sales force by streamlining the design and development of collaterals and sales tools across distribution channels. The Direct marketing team was set up to generate high quality leads for profitable business. The team achieves this through target database acquisition and communicating customized product information through e-mailers, telemarketing and innovative direct mailers.
Tied Agency
Tied Agency is the largest distribution channel of ICICI Prudential, comprising a large advisor force that targets various customer segments. The strength of tied agency lies in an aggressive strategy of expanding and procuring quality business. With focus on sales & people development, tied agency has emerged as a robust, predictable and sustainable business model. Babasabpatilfreepptmba.com - 17 -
Bancassurance and Alliances

ICICI Prudential was a pioneer in offering life insurance solutions through banks and alliances. Within a short span of two years, and with nearly a large number of partners, B & A has emerged as a vital component of the companys sales and distribution strategy, contributing to approximately one third of companys total business. The business philosophy at B&A is to leverage distribution synergies with our partners and add value to its customers as well as the partners. Flexibility, adaptation and experimenting with new ideas are the hallmarks of this channel.
Customer Service and Operations

The Operations department oils the work processes between the customer and the company to ensure consistent and quality service to the customer. To streamline the operations, the Operations department interfaces between the clients and the agents, the branches and the underwriters, and manages work processes. The Vision at Customer Service is to deliver World Class Service at every opportunity. Units such as the 9 to 9 contact centre, Outbound Call Centre, Customer Care and Query Resolution Unit are all committed to providing effective solutions to over lakhs of customers across the country.
Human Resource
The people strategy of ICICI Prudential is To build a committed team with a culture of innovation, learning and growth. The Human Resource Function at ICICI Prudential drives the people strategy of the business. With its initial focus on operational excellence to deliver benefits and services to staff members, HR is now committed to building capability through state of the art processes. A robust performance management system, compensation system and a segmented training architecture enable it to deliver value to the organization.
Information Technology
The Information Technology function at ICICI Prudential is committed to enable business through the use of technology. It is segmented into 4 groups to enable highest levels of delivery to the customers: Life Asia Solutions Group that provides flexibility in designing better product offerings to end-users, the Solutions Group- Web that provides real-time
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information to customers and is responsible for customer relationship management, IT Architecture & Corporate Solutions Group is in charge of developing and maintaining a blueprint for the IT architecture for the enterprise as a whole. This team works as an in house R&D Solution Group, exploring new technological initiatives and also caters to information needs of corporate functions in the organization. IT Infrastructure group is responsible for providing hardware, software, network services to the whole organization. This group runs the 'Digital Nervous System' of the Enterprise at the highest levels of efficiency and provide robust, scalable and highly available platform for deployment of business application.
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ICICI PRUDENTIAL LIFE INSURANCE PRODUCTS/ PLANS Insurance Solutions for Individuals:
ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to 5 riders, to create a customized solution for each policyholder.
Savings Solutions
Secure Plus: Is a transparent and feature-packed savings plan that offers 3 levels of protection. Cash Plus:Is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options. Saven Protect: Is a traditional endowment savings plan that offers life protection along with adequate returns. Cash Back :Is an anticipated endowment policy ideal for meeting milestone expenses like a childs marriage, expenses for a childs higher education or purchase of an asset. Life Time Gold: Is offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 4 fund options ? Preserver, Protector, Balancer and Maximiser. Life Link II: Is a single premium Market Linked Insurance Plan which combines life insurance cover with the opportunity to stay invested in the stock market. Premier Life: Is a limited premium paying plan that offers customers life insurance cover till the age of 75. Invest Shield Life: Is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest.
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Invest Shield Cash: Is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with flexible liquidity options. Invest Shield Gold: Is a Market Linked plan that provides capital guarantee on the invested premiums and declared bonus interest along with limited premium payment terms.
Protection Solutions
Life Guard :Is a protection plan, which offers life cover at very low cost. It is available in 3 options Level term assurance, level term assurance with return of premium and single premium. Home Assure: Is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner.
Child Plans
Smart Kid: Is Education plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the childs life. SmartKid plans are also available in unit-linked form both single premium and regular premium.
Retirement Solutions
Forever Life is a retirement product targeted at individuals in their thirties. Secure Plus Pension: Is a flexible pension plan that allows one to select between 3 levels of cover.
Market-linked products
Lifetime Pension: is a regular premium market-linked pension plan
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Life Link Pension II is a single premium market-linked pension plan. Invest Shield Pension is a regular premium pension plan with a capital guarantee on the investible premium and declared bonuses. Golden Years: is a limited premium paying retirement solution that offers tax benefits. up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and payout stages. ICICI Prudential also launched Salaam Zindagi, a social sector group insurance policy targeted at the economically underprivileged sections of the society. Life Time Super: A market-linked insurance products that adapts itself to changing protection and investment need. The benefits are potentional to earn high returns, Death benefit, partial withdrawals, Tax benefits. Life Link Super: It is the unique, single premium united linked investment-cuminsurance solution. It offers attractive premium allocation along with flexible investment options to opportunity to enjoy potentially high returns on your investments, without compromising on the protection of your family. Life Time Plus: It is one stop solution for investors who are looking for a plan offers for the benefits of the insurance cover along with flexible investment options. The payment will be three different modes like Monthly, half yearly, Year. Premier Life Gold: The Premier Life Gold High net worth segment is looking for plan which gives potional high returns, liquated and a flexibility option to design there own plan. And wealth along with insurance protection.
Health Solution
Health Assure: Is a regular premium plan which provides l ong term cover against 6 critical illnesses by providing policyholder with financial assistance, irrespective of the actual medical expenses.
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Health Assure Plus: Is a regular premium plan which provides long term cover against 6 critical illnesses by providing financial assistance, irrespective of actual medical expenses, as well as an equivalent life insurance cover
Flexible Rider Options

ICICI Prudential Life offers flexible riders, which can be added to the policy at a marginal cost, depending on the specific needs of the customer. Accident & disability benefit: If death occurs as the result of an accident during the term of the policy, the beneficiary receives an additional amount equal to the rider sum assured under the policy. If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit. Accident Benefit: This rider option pays the sum assured under the rider on death due to accident. Critical Illness Benefit: Protects the insured against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death. Income Benefit: This rider pays the 10% of the sum assured to the nominee every year, till maturity, in the event of the death of the life assured. It is available on Smar Kid, Secure Plus and Cash Plus Waiver of Premium: In case of total and permanent disability due to an accident, the premiums are waived till maturity. This rider is available with Secure Plus and Cash Plus. basic
COMPETITORS FOR ICICI PRODUENTIAL

LIC (Life Insurance company) Postal Life Insurance. Bajaj Allianz Life Insurance Co. Ltd. Birla Sun Life Insurance Co. Ltd. HDFC Standard Life Insurance Co. Ltd. ING Vysya Life Insurance Co. Ltd. Max New York Life Insurance Co. Ltd. Babasabpatilfreepptmba.com - 23 -
MetLife India Insurance Co. Pvt. Ltd. Kotak Mahindra Old Mutual Life Insurance Co. Ltd. SBI Life Insurance Co. Ltd. Sahara India Life Insurance Co. Ltd. Shriram Sunlam. Reliance Life Insurance, Axa Bharti Enterprises.
UNIT LINKED INSURANCE PRODUCTS ULIPs are a category of goal-based financial solutions that combine the safety of insurance protection with wealth creation opportunities. In ULIPs, a part of the investment goes towards providing you life cover. The residual portion of the ULIP is invested in a fund which in turn invests in stocks or bonds; the value of investments alters with the performance of the underlying fund opted by you. Simply put, ULIPs are structured in such that the protection element and the savings element are distinguishable, and hence managed according to your specific needs. In this way, the ULIP plan offers unprecedented flexibility and transparency. Growth of ICICI Prudential ICICI Prudential Life has retained its leadership position over the past eight years, in the Indian private life insurance sector. Some of the factors that distinguish us from other players in the market are: Assets held are over Rs. 32,000 crores as on March, 2009 Total capital stands at Rs. 4,780 crores (as of March, 2009) with ICICI Bank and Prudential plc holding 74% and 26% stake respectively Posted a growth of 13% (April 1, 2008 to March 31, 2009) for garnering total received premium (new business + renewal) of Rs 15,356 crores as against Rs 13,563 crores in FY2008 Babasabpatilfreepptmba.com - 24 -
Underwritten over 9 million policies since inception
Major Market Players: Presently there are 15 Life insurance companies in the country. There is only one public sector company LIC and the rest 14 are from private sector. Although LIC has been dominating the Life Insurance business since past few years the private players have now started to build up momentum. So I have mentioned only few as below. a. HDFC Standard Life : HDFC Standard Life Insurance HDFC Standard Life Insurance Company is a joint venture between India's largest housing finance provider, HDFC and Europe's largest mutual life assurance company - The Standard Life Assurance Company (U. K). The company was registered. b. Reliance Life Insurance Company Ltd: Reliance Life Insurance Company Ltd.is part of the reliance capital ltd. It is one of the leading private sector financial services,Relience Life Insurance is not only one of the India fatest growing life insurance company but also countest amongs the top 4 private sector insurance. In just 2 years the company has crossed marked 1.7 million policies and reliance co. 600 brances in the 10 months taking. The overall branch sector above to life insurance company is one of the only two ISO 9001-2000 certificate LIC insurance. c. ING Vysya Life Insurance Company Limited: ING Vysya Life Insurance Company Limited established its foothold in the private life insurance industry in India in September 2001. In a branch network of over 140 branches with head office in Bangalore, ING Vysya Life Insurance Co employees around 3000 employees with a sales force of over 21,000 insurance agents and brokers. ING Vysya Life enjoys a customer base of 4.5 lakh and a total income of Rs. 400 crore.
d. Life Insurance Corporation of India (LIC): Life Insurance Corporation of India is a 100% government held Public Sector Company. Being the first to be established LIC is the forerunner in the Life Insurance sector. It owned by the government.
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e. Bajaj Allianz Life Insurance Co: Bajaj Allianz Life Insurance Company is a 74:26 Joint venture between Bajaj Auto limited and Allianz AIG the company was registered on 3/8/2001. It is also one of the largest private insurance co. f. The TATA AIG Group: TATA AIG group is a 74:26 JV between Tata Group and AIG. It belongs to the private sector. The company was registered on 12/2/2001.with IRDA . g. SBI Life Insurance Company Ltd: SBI Life Insurance Company is a 74:26 Joint venture between SBI and Cardiff S.A. The company was registered on 31/3/2001.It is a private sector company.
AWARDS
ICICI Pru Life ranked as the Most Trusted Pvt Life Insurance brand in the Brand Equity "Most Trusted Brands 2009" survey
ICICI Prudential Life won a Gold award for About ULIPS.com and Health Saver campaign, innovation award for www.taxguru 08-09.com and a silver award for its Insurance yoga campaign at the ICICI Group Marketing Excellence award.
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Confederation of Indian Industry (CII) - Western Region recently awarded ICICI Prudential Life a 'Commendation for Strong Commitment to HR Excellence 2008' at the CII HR Summit 2008.
ICICI Prudential Life Insurance was awarded with the coveted 'ICAI Award for Excellence in Financial Reporting' by the Institute of Chartered Accountants of India (ICAI) for the financial year ended March 31, 2008.
ICICI Prudential Life was awarded the Life Insurance Company of the Year at the12th Asia Insurance Industry Awards 2008.
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ICICI Prudential Life won the Award for Brand Excellence in the Banking and ICICI Prudential life insurance ICICI Prudential Life was awarded with two Bronze Effie's in the sevices catgeory for its Corporate campaign and Retirement Number campaign ICICI Prudential Life Insurance won the award for the Best Life Insurer-Runner up at the Outlook Money & NDTV Profit Awards 2008 ICICI Prudential Life was awarded the SAP ACE 2008 Best Business Objects Award for its IT practices
ICICI Prudential Life Insurance won the award for the Best Life Insurer-Runner up at the Outlook Money & NDTV Profit Awards 2007
ICICI Prudential Lifes, retirement solutions campaign for the year 2006-07 was awarded the Bronze Effy trophy in the services category.It also won the Brand Equity Bravery Award 2007, instituted by Ad club.
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Innovation Award for launching Diabetes Care Prudence Award 2006. People Award for excellence in training and people development - Prudence Award 2006 .
Best Life Insurer 2003. Outlook Money Awards 2003 & 2004 IMM Award for Excellence. Institute of Marketing & Management
India's Most Customer Responsive Insurance Company. Avaya Global Connect Economic Times. Customer Responsiveness Awards Babasabpatilfreepptmba.com - 29 -
Organisation with Innovative HR Practices Indira Group of Institutes
Superbrand 2003-04
Silver Effie for Effectiveness of the Retire from Work not life advertising campaign Effies 2003
Ms. Shikha Sharma, MD & CEO, ICICI Prudential Life Insurance Co. Ltd. was adjudged the Businesswoman of the year at The Economic Times Awards for Corporate Excellence, 2007-08.
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ICICI Prudential Life won the UK Trade & Investment India Business Awards 2008 in the Business Partnership Award-Large Company category
Ms. Shikha Sharma, MD & CEO, ICICI Prudential Life Insurance was adjudged the Entrepreneur of the Year-Manager at the Ernst and Young Entrepreneur Awards 2007.
Ms. Shikha Sharma, MD & CEO, ICICI Prudential Life Insurance was awarded the Outstanding Businesswoman of the Year at CNBC TV18's India Business Leader Awards 2007
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Prudence Customer Centricity Award 2004 & 2005. Prudential Corporation Asia
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RECOGNISATION
ICICI Prudential Life was recognized as the most trusted brand amongst private life insurers in the Economic Times-Most Trusted Brand survey 2008. IMM Award for Excellence. Institute of Marketing & Management Organization with Innovative HR Practices. India Group of Institutes Organization with Innovative HR Practices. Asia-Pacific H R Congress Awards for HR Excellence
- 33 -
RESEARCH METHODOLOGY Topic of the study
Customer perception and attitude towards ICICI Prudential life insurance at Hubli
Research objective
1) To examine the awareness of customers to life Insurance(ICICI Prudential) 2) To know the satisfaction level of customers. 3) To identify the expectations of customers towards life Insurance.(ICICI Prudential) 4) To study the needs of customers. 5) To know the opinion regarding benefits provided by life insurance (ICICI Prudential). 6) To compare ICICI life insurance with competitors.
Need for the study

The study of the customer perception and attitude help to the company to know what the present states (Scenario ) of a company reference to other competitors in the insurance sector. It will help full to determine how the customer choice different from others and to know there opinion and needs of the insurance
Scope for the study

In the restless and risk world life Insurance is vary important instrument for which we can given financial security to our family
- 34 -
Limitation of the study

Not single work is exception to the limitation every work has got its limitations. It is assumed that the sample selected represents entire population.
Area of Research Research approach Research Instrument Sample Method Sample Unit Sample size
: Hubli city : Survey method : Questionnaire : Convience Sampling, Personal Interview, : Hubli city : 100 Customers
Hypothesis testing
On the basis of assumption HO-More than are equal to 80% people are aware of the ICICI life insurance. H1-Less than 80% of people are unaware of ICICI life insurance.
SamplingI have taken the sample size is 100 and also. I selecting Probability sampling method for conducting panel and Personal Interview this is help to our research study.
- 35 -
Data Collection Method

Data source: Primary Data: Secondary Data: Personal interactions, Observations Training programs,Through Questionnaire websites, Brochures, Magazines. Books
Testing of Hypothesis
For this research study I chosen 100 sample size among the 30 of a polit study and in this sample size 80% of the peoples are aware of the ICICI Prudential life insurance H0=More than are equal to 80% people are aware of ICICI Prudential life insurance. H1=Less than 80% people are not aware of ICICI Prudential life insurance. N=Total Sample size P= 80/100 = 0.80
p(1-p) = n-1
0.8(1-0.80) = 100-1
.80.(0.2) 99
0.16/99
- 36 -
0.00161
0.0402
Zcal= P0-P S Po =0 .86 P =0.80 S =0.0402 = 0.86-.80 0.0402 = 0.06 / 0.0402 = 1.492 Zcal less then Z table value i.e.1.492<1.64 Null Hypothes is Accept.
- 37 -
DATA ANALYSIS Gender Statistics

N S Mean Median Mode Valid Missing 100 0 1.12 1.00 1 Percent Valid 88.0 12.0 100.0 Percent 88.0 12.0 100.0
GENDER
Frequency 88 12 100
Cumulative Percent 88.0 100.0
Valid Male Female Total
GENDER
100
80
60
40
Frequency
20
0 m ale fem ale
GENDER
Analysis Out of 100 .respondents mong them 88% male and 12% are female.
AGE Statistics
Babasabpatilfreepptmba.com - 38 -
N Mean Median Mode
GENDER Valid 100 Missing 0 1.12 1.00 1
AGE 100 0 1.58 1.00 1
AGE
Frequency Valid 18-25 26-35 36-45 45-above Total 56 32 10 2 100 Percent Valid Percent 56.0 32.0 10.0 2.0 100.0 56.0 32.0 10.0 2.0 100.0 Cumulative Percent 56.0 88.0 98.0 100.0
AE G
6 0
5 0
4 0
3 0
Frequency
2 0
1 0
0 1- 5 82 2- 5 63 3- 5 64 4- bv 5a o e
AE G
Analysis
Out of the 100 respondents. age is 18 -25 are 56%, 26-35 are 32%, 36-45 are 10% And 45-above 2%
Annual Income INCOME Statistics

N Mean Median Valid Missing 100 0 1.42 1.00
- 39 -
Mode
INCOME Valid below 1 lakh 100000-200000 200000-400000 Total Frequency 68 22 10 100 Percent 68.0 22.0 10.0 100.0 Valid Percent 68.0 22.0 10.0 100.0 Cumulative Percent 68.0 90.0 100.0
IN O E CM
8 0
6 0
4 0
Percent
2 0
0 b l w1lah e o k 100- 000 0 0 02 0 0 200- 000 0 0 04 0 0
I CM NO E
Analysis Out of the 100 respondents. their income is below1 lakhs 68%, 1 lakhs to2 lakhs 22%, 2 lakes to 4 lakhes 10%.
Occupation
Statistics N Mean Median Mode OCCUP Valid Frequency Govt employee 7 Private employee 50 Professional 2 Percent 7.0 50.0 2.0 Valid Percent 7.0 50.0 2.0 Cumulative Percent 7.0 57.0 59.0 Valid Missing OCCUP 100 0 3.32 2.00 2
- 40 -
Business Self employee Others Total
10 7 24 100
10.0 7.0 24.0 100.0
10.0 7.0 24.0 100.0
69.0 76.0 100.0
Occupation
Analysis
Out of the 100 respondents 7% are Government employee, 50% are Private employee, 2% are Professional, 10% are Business, 7% are self empolyeed, 24% others.
Q1) Have you invested in insurance?

Statistics Have you invested in N Mean Median Mode Have you invested in insurance Frequency Percent Valid Yes No Total 87 13 100 87.0 13.0 100.0 Valid Percent 87.0 13.0 100.0 Cumulative Percent 87.0 100.0 Valid Missing insurance 100 0 1.13 1.00 1
Have you invested in insurance
- 41 -
Analysis
Out of 100 respondents out 87% are Invested in the insurance and 13% are not invested in the insurance.
Q2) If Yes which is the following Insurance company?

Statistics Iwhich the following insurance N Mean Median Mode which is the following insurance company Frequency Valid LIC ICICI Prudential Relince insurance Bajaj Alianzas Others Total System 20 53 9 4 4 90 10 100 Percent 20.0 53.0 9.0 4.0 4.0 90.0 10.0 100.0 Valid Percent 22.2 58.9 10.0 4.4 4.4 100.0 Cumulative Percent 22.2 81.1 91.1 95.6 100.0 Valid Missing company 90 10 2.19 2.00 2 is
Missing Total
- 42 -
Analysis
Out 100 respondents 20% in LIC, 53% in ICICI Prudential,53%in Reliance insurance,4% in Bajaj Alianzas , 4% in other and 10% in not responding.
Q3) If ICICI Prudential life insurance from the following which Plan?
Statistics From following N Mean Median Mode Valid Missing which plan 81 19 1.84 2.00 2
Froem which plan

Valid CHILDREN EDUCATION WEALTH CREATION Retirement solution Missing Total Frequency 27 40 14 19 100 Percent 27.0 40.0 14.0 19.0 100 Valid Percent Cumulative Percent 33.3 33.3 49.4 17.3 100.0 82.7 100.0
- 43 -
From following which plan
Analysis
Out of 100 respondents Children education 27%, Wealthe Creation Plan 40%, Retirement solution, plans 14% and not respondent are 19%.
Q4) what made you to invest ICICI Prudential life Insurance?

Statistics What made you N Valid Missing ICICI Pru 86 14 2.35 2.00 3 to
What invested
made in
you
to Mean
ICICI Mode
Median
Prudential
Frequency Percent Valid T.V Advt news and magazines company advisors 33 33.0 38.4 90.7 19 19.0 26.0 Valid Percent 22.1 30.2 Cumulative Percent 22.1 52.3
papers26
- 44 -
friends/ relatives Total Missing Total System
8 86 14 100
8.0 86.0 14.0 100.0
9.3 100.0
100.0
What made you to invested in ICICI Prudential
Analysis
Out of 100 respondents.know in the ICICI prudential T.V.Advetisement 19%, News Paper and Magazines 26%, Company Advisors 33%, Friends and reletivesand 8%, 14% are others factors (missing system).
Q5) Are you aware of the ICICI Prudential?
Statistics Aware ICICI N Mean Median Mode Aware of ICICI Prudential Frequency Percent Valid Yes No Total System 86 13 99 1 100 86.0 13.0 99.0 1.0 100.0 Valid Percent 86.9 13.1 100.0 Cumulative Percent 86.9 100.0 Valid Missing Prudential 99 1 1.13 1.00 1 of
Missing Total
- 45 -
A a o IC I P d n l w re f IC ru e tia
M issin g n o
ye s
Analysis
Out of 100 respondents 86% are aware of the ICICI Prudential life insurance and 13% are not aware of the ICICI Prudential life insurance. And 1% is not responding.
Q6) you have invested insurance because of.

Statistics You have invested life insurance because of N Mean Median Mode You have invested life insurance because of Valid Life security Frequency to29 the40 Percent 29.0 40.0 Valid Percent Cumulative Percent 29.9 29.9 41.2 71.1 Valid Missing 97 3 2.19 2.00 2
one self To provide to family for investment purpose for
financial security pure14 14.0 14.4 85.6
children9 5 97 3 100
9.0 5.0 97.0 3.0 100.0
9.3 5.2 100.0
94.8 100.0
Missing Total
education for retriement Total System
- 46 -
Yu aenet di enu ne eas o o hv i v se lf i s r c b c ue f a

Ms g i i sn fo r t i m t r e ee r n fo c ide e u a r h r n dc t l i fo p r i v sm t r uen e t e n L s c rt t o e i e ui y o n fe
T po i e h fi a o r v t e nn d
Analysis Out of 100 respondents invested in the life insurance because of their Life security 29%, To provide the financial security, 40%, and For the pure investment perpose14%, retirement 9%, and 3% are not responding
Q7) In which of the following you are interested?

Statistics You haveIn whichof following are intersted 100 0 1.62 1.00 1 invested lifethe insurance because of you N Mean Median Mode Valid Missing 97 3 2.19 2.00 2
The following you are interested.

Frequency Percent Valid safety and56 56.0 26.0 18.0 Valid Percent 56.0 26.0 18.0 Cumulative Percent 56.0 82.0 100.0
investment huge returns26 balance 18 between risk return Total and 100
100.0
100.0
- 47 -
Analysis
Out 100 respondents are to be 56% in the Safty investment. 26% in the Huge returns.18% in the Balance between Risk and returns.
Q8) which kind of investor you are?

Statistics kind are 97 3 2.03 2.00 2 of investor you N Mean Median Mode Valid Missing
which kind of investor you are

Frequency Percent Valid aggressive balanced preserver protector Total System 34 41 7 15 97 3 100 34.0 41.0 7.0 15.0 97.0 3.0 100.0 Valid Percent 35.1 42.3 7.2 15.5 100.0 Cumulative Percent 35.1 77.3 84.5 100.0
Missing Total
- 48 -
k do ine to y uae in f v s r o r
Msn is i g poe t r r t co a ge s e g r s iv pe ev r r sr e
b la c d a ne
Analysis
Out of 100 respondents 34% Aggressive,41% are Balanced7% are Preserve and 15% are Protector 3% are not responding.
Q9) The type of the investment in which you are Interested?

Statistics Type of Investment In you are N Mean Median Mode Type of Investment In you are intersted Frequency Percent Valid long term medium term short term 4 Total System 45 31 22 1 99 1 100 45.0 31.0 22.0 1.0 99.0 1.0 100.0 Valid Percent 45.5 31.3 22.2 1.0 100.0 Cumulative Percent 45.5 76.8 99.0 100.0 Valid Missing interested 99 1 1.76 2.00 1
Missing Total
- 49 -
Tp o I v smn I y u r i t r t d y e f ne t e t n o ae n se e
5 0
4 0
3 0
2 0
Percent
1 0
0 lntr o g em mimr eu t m d e s ot t r h r em
Tp o I v smn I y uaeinese y e f net e t n o r t r t d
Analysis
Out of 100 respondents 45% long term 31% is the medium term and 22% is the short term and 1% are not responded.
Q10) In future which kind of service you are most excepting from ICICI Prudential life insurance?
Statistics In future which kind of service you expecting are
Valid Missing
98 2 1.92 2.00 1
Mean Median Mode
In future which kind of service you are expecting Frequency Valid quick service Transperancy convient facility quick Total Missing System settlement of12 98 2 12.0 98.0 2.0 12.2 100.0 100.0 insurance amount 48 22 premium16 Percent 48.0 22.0 16.0 Valid Percent Cumulative Percent 49.0 22.4 16.3 49.0 71.4 87.8
- 50 -
Total
100
100.0
In future which kind of service you are expecting
Analysis
Out 100 respondents Quick service 48%, Transferency22%, convenient premium facility 16%, quick settlement of insurance amount 12%, and 2%.are not respondents.
Q11) Satisfaction to wards ICICI Prudential life insurance?

Statistics Satisfaction Prudential N Mean Median Mode 95 5 1.93 2.00 2 towards ICICI
Satisfaction towards ICICI Prudential Frequency Percent Valid Highly 35 35.0 40.0 24.0 1.0 95 5 100 Valid Percent 34.7 38.9 25.3 1.1 100.0 Cumulative Percent 34.7 73.7 98.9 100.0
missing
satisfied Satisfied 40 Moderate 24 Dis satisfied1 Total 95 system 5 Total 100
- 51 -
Si f co t w d I I IPdn l as t no a sC r eta t ai r C u i
5 0
4 0
3 0
Percent
2 0
1 0
0 H l stsi d i h a fe gy i Si fe a id ts Me t or e da D stsi d i a fe s i
S i f co t wd I I IP dna as t noa sC r et l t ai r C u i
Analysis
Out of 100 respondents 35% are high satisfied 40% are satisfied, 24% are moderate Dis satisfied is 1%. And 5% are notrespoding.
Q12) Are you satisfied with the services provided by ICICI prudential Life insurance plans?
Statistics Are you sati fied with ICICI N Mean Median Mode Valid Missing Prudential life insurance plan 99 1 1.06 1.00 1
Are you sati fied with ICICI Prudential life insurance plan Frequency Percent Valid YES NO Total 93 7 100 93.0 7.0 100.0 Valid Percent 93.9 6.1 100.0 Cumulative Percent 93.9 100.0
Are you sati fied with ICICI Prudential life insurance plan
- 52 -
Analysis
Out of 100 respondents 93% are satisfied with ICICI prudential plans.7% not satis fied with the ICICI Prudential Plans.
Q13) Are you satisfied with services provide by ICICI Prudential life insurance?
Statistics Are you satis fied with the services provided by N Mean Median Mode Valid Missing ICICI Prudential 95 5 2.14 2.00 2
Are you satis fied with the services provided by ICICI Prudential Frequenc Percent Valid highly satisfied Satisfied Moderate Dis satisfied Total System y 21 44 26 4 95 5 100 21.0 44.0 26.0 4.0 95.0 5.0 100.0 Valid Percent Cumulative 22.1 46.3 27.4 4.2 100.0 Percent 22.1 68.4 95.8 100.0
Missing Total
Are you satisfied with the services provided by ICICI Prudential
- 53 -
Analysis: Out 100 respondents highly satisfied 21%, Satisfied 44%, Moderate 26%,
Dissatisfied 4%. And 5% are not respoding
Q14 Rate the service provided by you life insurance advisor?

Statistics Rate the service provided by your life N Mean Median Mode Valid Missing insurance advisor 97 3 2.06 2.00 2
Rate the service provided by your life insurance advisor Frequency Percent Valid excellent Good moderate Bad Waste Total System 25 48 18 5 1 97 3 100 25.0 48.0 18.0 5.0 1.0 97.0 3.0 100.0 Valid Percent 25.8 49.5 18.6 5.2 1.0 100.0 Cumulative Percent 25.8 75.3 93.8 99.0 100.0
Missing Total
Advisor service your life in surance
- 54 -
Analysis
Out of 100 respondents are excellent 25%,good is the45%, moderate is the 18% bad is the 5% wast is the 1%.
Q15 If you are not satisfied satisfied due to.

Statistics N Mean Median Mode If you are not satisfied ,not satisfied due to 85 15 1.79 2.00 2
If you are not satisfied, not satisfied due to Frequency Percent Valid delay getting in32 the 39.0 45.9 83.5 32.0 Valid Percent 37.6 Cumulative Percent 37.6
bonds mis match39 in the information delay in14 getting remainders Total 85 System 15 100
14.0
16.5
100.0
Missing Total
85.0 15.0 100.0
100.0
- 55 -
If y ua n t s tis d,n t s tis dd eto o re o a fie o a fie u

5 0
4 0
3 0
2 0
Percent
1 0
0 d la ing ttin th e y e g e m m tchinth in is a e f d la ing ttin re e y e g m
I y ua n t s tis d,n t s tis dd eto f o re o a fie o a fie u
Analysis Out of 100 resopdance are Delay in getting bonds 32%, Mismatch information is 39%, and Delay in getting reminder is 14% and 15% are not respodaning.
Q16 Are you aware of benefits in your policy?

Statistics Are you aware of benefits in your policy N Mean Median Mode Valid 100 1.07 1.00 1
Are you aware of benifite in your policy? Frequency Percent Valid Yes No Total 91 9 100 91.0 9.0 100.0 Valid isercent 92.9 7.1 100.0 PyesCumulative Percent 92.9 100.0
- 56 -
Are you aware of benifite in your policy

100
80
60
40
Percent
20
0 yes N o
Are you aw are of benifite in your policy
Analysis Out 100 respondents are 91% aware of benefits in policy and 9% are not aware of the benefits in the policy.
Q17 If yes what benefited would you consider?

Statistics Benefit would N Mean Median Mode What Benefit would you consider Frequency Percent Valid life 36 36.0 41.0 12.0 Valid Percent 37.9 43.2 12.6 Cumulative Percent 37.9 81.1 93.7 Valid Missing consider 95 5 1.87 2.00 2 you
coverage safety of41 investment convience 12 in investment product 6
6.0
6.3
100.0
- 57 -
Missing Total
features Total System
95 5 100
95.0 5.0 100.0
100.0
Benefited consider
Analysis
Out of 100 respondents are benefits consider Life coverage 36%, Safety of investment 41%, Convince in investment 12% , Product features 6% and 5% are not responding.
Q18 which premium payment method you have opted?

Statistics Which premium method you have opted for N Valid Mean Median Mode Which premium method you have opted for 100 1.64 1.00 1 Valid Percent 61.6 22.2 7.1 9.1 100.0 Cumulative Percent 61.6 83.8 90.9 100.0
Frequency Percent Valid Early half yearly Quaterly Monthly Total 61 22 8 9 100 61.0 22.0 8.0 9.0 100.0
Premium method
- 58 -
Analysis Out of 100 respondents are paying premium method is yearly 61%, Half yearly 22%, Quatrly 8%, monthly 9%, they are paying the premium.
Q19) By considering which of the benefited you have invested in the Company?
Statistics By considering which benifited you have invested in the company 98 2 Mean 2.82 Median 2.00 Mode 1 benefited you have invested in the company N Frequency Percent Valid partial withdrawal 28 loan on policy 23 Bonus on policy 23 addiational 6 allocation low charges return investment 5 on7 28.0 23.0 23.0 6.0 5.0 7.0 Valid Percent Cumulative Percent 28.6 23.5 23.5 6.1 5.1 7.1 28.6 52.0 75.5 81.6 86.7 93.9
- 59 -
Missing Total
pay back period Total System
6 98 2 100
6.0 98.0 2.0 100.0
6.1 100.0
100.0
Benefited you have in vested in the company
Analysis Out of 100 respondents Partialwithdrwal 28%, Loan on policy 23%, Additional allocation 6%, bonus on policy 23%, Low charges 5% Return on investment 7% Pay back period 6% and 2% are not responding.
Q20) Have you opted for any of the rider?

Statistics Have you opted for any of the rider
N Mean Median Mode Have you opted for any of the rider
99 1.38 1.00 1
Frequency Percent Valid Yes No Total 61 39 100 61.0 39.0 100.0
Valid Percent 61.6 38.4 100.0
Cumulative Percent 61.6 100.0
- 60 -
Have you opted for any of the rider

70 60 50 40 30 20
Percent
10 0 yes no
Have you opted for any of the rider
Analysis
Out of 100 respondents 61% people are opted rider and 39 % are not opted of the any rider.
Q21) If yes in which of the following rider you have opted for?
Statistics
Following rideryou have opted for N Mean Median Mode Rider you have opted for Frequency Percent Valid critical illness benefit rider double 34 accident Wiewer Total System 14 62 38 100 34.0 14.0 62.0 38.0 100.0 54.8 22.6 100.0 77.4 100.0 14 14.0 Valid Percent 22.6 Cumulative Percent 22.6 62 38 2.00 2.00 2
Missing Total
Rider you have opted Babasabpatilfreepptmba.com - 61 -
Analysis
Out of 100 respondents they opted rider Criticaillness benefits 14% Double accident rider 34% Wiewer rider 14% .and 38% are not responding.
Q22) Are you in need of insurance policy?

Statistics need of insurance policy N Mean Median Mode need of insurance policy Frequency Percent Valid Yes No Total 81 19 100 81.0 19.0 100 Valid Percent 80.8 19.2 100.0 Cumulative Percent 80.8 100.0 Valid 99 1.19 1.00 1
Need for insurance policy
- 62 -
Analysis
Out of 100 respondents 81% are need insurance policy, and 19 % not need the Insurance policy.
Q23) How much Premium amount of policy do you need?

Statistics premium amount N Mean Median Mode premium amount Frequency Percent Valid 10000 10000 58 21 58.0 21.0 6.0 2.0 87.0 13.0 100.0 Valid Percent 66.7 24.1 6.9 2.3 100.0 Cumulative Percent 66.7 90.8 97.7 100.0 Valid Missing 87 13 1.45 1.00 1
to15000 15000 to6 25000 25000 above Total System 2 87 13 100
Missing Total
pimm mu t r u a on
7 0 6 0 5 0 4 0 3 0 2 0 1 0 0 100 00 1 0 0t 1 0 0 00 o50 1 0 0to2 0 0 50 50 2 0 0a o e 50 bv
Frequency
pimm mu t r u a on
- 63 -
Analysis
Out of 100 respondents there premium amount is 10000 58%,10000 to15000 21%, 15000to25000 6%, and above 25000 2%.
Q24)
What
Statistics N Mean Median Mode
Factor
do
you
consider
while
selecting
ICICI
Prudential life insurance?

Tax saving 100 0 2.16 2.00 1 security 100 0 2.52 3.00 3 Returns 100 0 2.52 2.00 2 Charges 100 0 3.16 3.50 4 others 100 0 4.34 5.00 5
Valid Missing
tax saving Frequency Percent Valid Tax saving35 1 Tax saving34 2 Tax saving17 3 Tax saving8 4 Tax saving6 5 Total 100 35.0 34.0 17.0 8.0 6.0 100.0 Valid Percent 35.0 34.0 17.0 8.0 6.0 100.0 Cumulative Percent 35.0 69.0 86.0 94.0 100.0
ta s v g x ain
4 0
3 0
2 0
Percent
1 0
0 t xs vn 1 a ai g t xs vn 2 a ai g t xs vn 3 a ai g t xs vn 4 a ai g ta s vn 5 x ai g
t xs v g a a in
Analysis
- 64 -
Out of the 100 respondents Tax saving 1 is35%, Tax saving 2 is34%, Tax saving 3 is 17% and Tax saving 4 is 8 % Tax saving5 is 6%, Security
security Frequency Percent Valid security 1 security 2 security 3 security 4 Total 26 18 34 22 100 26.0 18.0 34.0 22.0 100.0 Valid Percent 26.0 18.0 34.0 22.0 100.0 Cumulative Percent 26.0 44.0 78.0 100.0
security
40
30
20
10
Percent
0 security 1 security 2 security 3 security 4
security
Analysis
Out of the 100 respondents security1 is 26% security2 is 18% security3 is 34% and Security 4 is 22%
- 65 -
RETURNS
returns Frequency Percent Valid Returns 1 26 26.0 Valid Percent 26.0 Cumulative Percent 26.0
Returns 2 Returns 3 Returns 4 Returns 5 Total
29 21 15 9 100
29.0 21.0 15.0 9.0 100.0
29.0 21.0 15.0 9.0 100.0
55.0 76.0 91.0 100.0
returns
40
30
20
10
Percent
0 returns 1 returns 2 returns 3 returns 4 returns 5
returns
Analysis Out of the 100 respondents returns 1 is 26% returns 2 is 21% returns 3 is 21% ,returns 4 is 15% and returns5 is to be 9%.
CHARGES
charges
- 66 -
Frequency Percent Valid Charges 1 Charges 2 Charges 3 Charges 4 Charges 5 Total 10 18 22 46 4 100 10.0 18.0 22.0 46.0 4.0 100.0
Valid Percent 10.0 18.0 22.0 46.0 4.0 100.0
Cumulative Percent 10.0 28.0 50.0 96.0 100.0
charges
50
40
30
20
Percent
10
0 charges 1 charges 2 charges 3 charges 4 charges 5
charges
Analysis
Out of the 100 respondents charges 1 is10% ,charges 2 is 18%; charges3 is 22% charges 4 is46%, charges 5 is 4%.
- 67 -
Others
others Frequency Percent Valid Others 1 Others 2 Others 3 Others 4 Others 5 Total 12 2 3 6 77 100 12.0 2.0 3.0 6.0 77.0 100.0 Valid Percent 12.0 2.0 3.0 6.0 77.0 100.0 Cumulative Percent 12.0 14.0 17.0 23.0 100.0
others
100
80
60
40
Percent
20
0 others 1 others 2 others 3 others 4 others 5
others
Analysis Out of the 100 respondents other1 is 12%, the others 2 is the 2%, others 3 is 3% others 4 is 6%, others 5 is 77%.
Q25) Do you expect new Plans of ICICI Prudential life insurance?
- 68 -
Customer perception and attitude towards ICICI Prudential life insurance Statistics expecct new plan of icici prudential N Mean Median Mode Valid Missing 98 2 1.19 1.00 1
Expecct new plan of icici prudential Frequency Percent Valid Yes No Total System 79 19 98 2 100 79.0 19.0 98.0 2.0 100.0 Valid Percent 80.6 19.4 100.0 Cumulative Percent 80.6 100.0
Missing Total
Except new plan
Analysis
Out of the 100 respondents 79% peoples are except the new plans and 19% are not except the new plans in the ICICI prudential 2% are not responding.
Q26) Do you have Insurance policy with other Company?

Statistics Do you have insurance policy with other company N Mean Median Mode Valid Missing 100 0 1.24 1.00 1
- 69 -
Customer perception and attitude towards ICICI Prudential life insurance Do you have insurance policy with other company Frequency Percent Valid Yes No Total 76 24 100 76.0 24.0 100.0 Valid Percent 76.0 24.0 100.0 Cumulative Percent 76.0 100.0
Do you have new policy with other company
Analysis Out of 100 respondents 76% are having the insurance policy in the company and 24% are not insurance in the company.
Q27) In which company policy do you have?

Statistics In which company policy do you have invested in N Mean Median Mode Valid Missing 81 19 1.43 1.00 1
In which company policy do you have invested in Frequency Percent Valid Cumulative
- 70 -
Valid
ICICI
54
54.0 21.0 4.0 2.0
Percent 66.7 25.9 4.9 2.5
Percent 66.7 92.6 97.5 100.0
Prudential LIC 21 TATA AIG 4 Birla sun2 life insurance Total System 81 19 100
Missing Total
81.0 19.0 100.0
100.0
In which policy do you have in vested in
Analysis Out of 100 respondents 54% are in the ICICI Prudential and 21% in the LIC 4% in the Tata Aig 2%in the Birla sun life insurance 19% are not responding.
Q28) Regarding which of the following you have invested in ICICI Prudential life insurance. ?
Statistics the following you have invested in ICICI Prudential N Mean Median Mode Valid Missing 98 2 1.54 1.00 1
the following you have invested in ICICI Prudential Frequency Percent Valid Returns Carges Services Total System 60 23 15 98 2 60.0 23.0 15.0 98.0 2.0 Valid Percent 61.2 23.5 15.3 100.0 Cumulative Percent 61.2 84.7 100.0
Missing
- 71 -
Total
100
100.0
Which of the following you have invested in ICICI Prudential life insurance
Analysis Out of 100 respondents Returns is 60%, Charges is 23% Services is 15 %. Not responding 2%.
Q29) when Compare to other company how you rate service given by ICICI Prudential life insurance?
Statistics compare to other company how you rate service given N Mean Median Mode Valid Missing 98 2 2.11 2.00 2
Frequency Valid
Percent
Valid Percent 16.3 59.2 21.4 3.1 100.0
Cumulative Percent 16.3 75.5 96.9 - 72100.0 -
Missing Total
Excellent 16 16.0 Good 58 58.0 Moderate 21 21.0 Bad 3 3.0 Babasabpatilfreepptmba.com Total 98 98.0 System 2 2.0 100 100.0
compare to other company how you rate service given
Analysis
Out of the 100 respondents compare to service given by ICICI Prudential life insurance Excellent is 16%, good is 58% and moderate is to be 21% bad, 3% are not responding
Q30) From the following which company returns would be more?

Statistics following wich company returns more N Missing Mean Median Mode wich company returns more Valid LIC Frequency 17 Percent 17.0 Valid Percent 17.2 Cumulative Percent 17.2 99 1 1.94 2.00 2
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ICICI Prudential life75 insurance Bajaj Alianzns 4 SBI Life Insurance 2 Birla Sun life1 insurance Total System 99 1 100
75.0 4.0 2.0 1.0 99.0 1.0 100.0
75.8 4.0 2.0 1.0 100.0
92.9 97.0 99.0 100.0
Missing Total
fo w gw hc ma yre rn mre llo in ic o p n tu s o

Ms g is in B S nlifein u irla u sr S IL I s ra c B ife n u n e B ja A n n a j lia z s LC I
I I IP d n l lif C ru e tia C
Analysis Out of the 100 respondents the company returns is more LIC 17% ICICI Prudential life insurance 75%, Bajaj Alianzans 4% SBI life insurance2% Birla sun lun life insurance e1%and other missing is to be 1%
FINDINGS
Out of the 100 respondents 87% people are invested in the Insurance and 13% are not invested in the insurance company. Out of the 100 respondents more number of people are invested in ICICI Prudential that is 53%, and less in the other insurance company. Out of the 100 respondents are spreferred wealth creation plan 40% and others is the less prefer in the ICICI Prudential.
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Out of 100 respondents know in the ICICI prudential T.V.Advetisement19%, News Paper and Magazines 26%, Company Advisors 33% Friends and relatives and 14% not responding majority is company advisors. Out of 100 resodance out of that majority of the people are aware of the ICICI Prudential it is 83% and 14% people are not aware of the ICICI Prudential , 3% are not responding. Out of the 100 respondents they are interested in investing Safty investment that is 56% less is others investments Out of the 100 respondents 41% in the Balance, 34% Aggressive 7% in the Preserver 15% is Protector 3% are not responding .The most of the people prefer balance kind of the investors. Out of the 100 respondents people are invested in long term investment is 45% Medium term investment is 31% and short term is 22%. More number of respondents are investing in the long term investment. Out of the 100 respondents they excepting quick service it 48% and transferency 22%, convenient investment facility16% quick settlement 12% and not responding 2%. Out of the 100 respondents 40 % of people are satisfied with the ICICI Prudential life insurance. Out of the 100 respondents 93% are people are satisfied with ICICI Prudential plan. and 7% people are dissatisfied with ICICI Prudential plan. Out 100 respondents are excellent 25%, good is the45%, moderate is the 18% bad is the 5% wast the1%. And good is the majority so the services provide bu ICICI Prudential is satisfied.
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Out of that 100 respondents 91% people aware of the benefited of the ICICI prudential and 9% people are not aware of the ICICI Prudential benefits more number of the people are aware of the ICICI prudential life insurance benefdites Out 100 respondents most of the people invest in the yearly premium payment. Out of the 100 respondents the benefits partialwithdrawl 28%,loan on policy 23% charges 5%,Bonus on policy 23%, return on investment 7% and pay back period is to be 6% in this partialwithdrawal is more majority Out of the 100 respondents 81% people are need insurance policy and 19% peoples are not need any insurance policy. The more number of the people are need life insurance policy. Out of the 100 respondents there premium amount is 10000 58%, 10000 to15000 21%, 15000to25000 6%, and above 25000 2%.and the 10000 is more convenient to pay the amount. . Out of 100 respondents 79% are excepting new plan from ICICI Prudential 21% are not accepectin new plan from ICICI Prudential life insurance
SUGGESIONS
The company investement plans are good but launching new plans, provided the good benefits in the plans and the investment amount is to convenient to customers. It is help for the customers and company. To adopt the new message in advertisement, post more ads in the Magazines will be helpful for the customers to know about the plans and there features.
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The company can provide the Quick service to customers and they clear mention the premium amount and there charges. The premium amount should be convenient to customers. And maturity amount should be made quick settled to the customers. Improve the customer satisfaction level and Provide more facilities to the customers.
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CONCLUSUION
The ICICI Prudential is the most leading company in the insurance sectors. And most reputed company in the market, now a days customers perception is entirely different They will except own safety and there family safety also customers are thinking in the both the way so the ICICI prudential life insurance family insurance plans and Retirement plans like pension plan it will be most help full for the customers and company. Many of customers are not aware of new plans and some of the customer though they are aware of these products. To provide the information about the new plans. To know the customers perception and attitude in the present market and in the present threading competition they should do more then the present efforts in the following fields. Recruit more efficient Advisors, Advertisement Strategies, Trade promotion activity.
BIBLIOGRAPHY
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TEXT BOOKS:1. Marketing Research 2. ICICI Prudential train books 3. Magazines Websites:1. www.iciciprulife.com 2. www.google.com 3. www.insurance.com Prshuraman
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QUESTIONNAIRE
Name :-______________________________________ Address:-_____________________________________________________ _____________________________________________________ Gender: Age:a) 18-25 b) 26-35 c) 36-45 d) 45&above Male Female
Contact no: - _______________________ Annual income: - Below 100000 200000-400000 Occupation: - Government Employee Professional Self Employed 1) Have you invested in Insurance? Yes No 100000-200000 Above 500000 Private Employee Business Others
2) If yes which is the following Insurance Company? LIC ICICI Prudential Reliance insurance Max New York Bajaj Alianzas Any other__________________
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3) If ICICI Prudential life insurance? Children education plan Wealth creation plan Retirement solution plan Any other plan___________________ 4) What made you to invest in ICICI Prudential life insurance? T.V.Advertisement News paper / Magazines Company advisors (Agents) Reference (Friends Relatives) If any other______________________ 5) Are you aware of ICICI Prudential life insurance? Yes No
6) You have invested in insurance because of. Life security to one self To provide the financial security to the family For pure investment purpose For the children education. For retirement plan 7) In which of the following you are interested? Safety of investment. Huge returns. Balance between risk and returns 8) Which kind of Investor you are? Aggressive investor Balanced investor Preserver investor Protector investor
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9) The type of the investment in which you are interested? In long term investment In medium term investment In short term investment 10) Future which kind of service in which you are interested from ICICI Prudential life insurance company? Quick service Transference Convenient premium payment facility Quick settlement of insurance amount. If any other_____________________ 11) Satisfaction towards ICICI Prudential life insurance?
Highly satisfied
Satisfied
Moderate Dissatisfied
Highly dissatisfied
12) Do you satisfied with ICICI Prudential Life Insurance Plans? Yes No
13) Are you satisfied with the service provided by ICICI Prudential Life Insurance?
Highly Satisfied Satisfied
Moderate
Dissatisfied Highly Dissatisfied.
14) Rate the services provided by your life insurance advisor.
Excellent
Good
Moderate
Bad
Vast
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15) If you are not satisfied, not satisfied due to Delay in getting the bond. Miss match in the information/intention. Delay in getting reminders. If any other. __________________ 16) Are you aware of benefits in your policy? Yes No
17) If Yes what benefits would you consider? Life coverage Safety of investment Convenience in investment Product features If any other_____________________ 18) Which premium payment method you have opted for? Yearly Quarterly Half yearly Monthly
19) By considering which of the benefit you have invested in the company? Partial withdrawal Loan on policy Bonus on policy Additional allocations on unit Low charges Return on investment /earlier Pay back period If any other__________________
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20) Have you opted for any of the rider? Yes No
21) If yes in which of the following rider you have opted for? Critical illness benefit rider Double accident benefit rider Viewer of premium rider If any other________________ 22) Have you needed of insurance policy? Yes No
23) How much premium amount of policy do you need? a)10000 c)15000to25000 b)10000to 15000 d)25000 above
24) What factors do you do you considering while selectingICICI Prudential life insuranc. (give the rank 1 to 5 ,1 is the more Priority 5 is the less priority) Tax saving Security Returns If any other 25) Do you expect new plans of ICICI Prudential life Insurance? Yes No
26) Do you have insurance policy with other Company? Yes No
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27) In which company policy do you have? ICICI Prudential LIC TATA AIG Birla sun life insurance HDFC SLIC If any other__________________________ 28) By regarding which of the following you have invested in ICICI Prudential life Insurance? Returns Charges Service If any other________________________ 29) When compare to other company how do you rate service given by ICICI Prudential life insurance?
Excellent
Good
Moderate
Bad
Vast
30) Which company returns would accept more? LIC ICICI Prudential life insurance Bajaj Alianzns SBI life insurance Birla Sun-Life Insurance Company Limited If any other________________________ THANK YOU
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A Project Report On Customer Perception and Attitude Towards ICICI Prudential Life Insurance

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Customer perception and attitude towards ICICI Prudential life insurance

PAGE NO 1-2 3-12 13-32 33-36 37-74 75-76 77 78 79 80-85

ABOUT INDUSTRY COMPANY

RESEARCH METHODOLOGY DATA ANALYSIS FINDINGS SUGGESTIONS

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Topic of the study

Customer perception and attitude towards ICICI Prudential life insurance

A Brief history of the Insurance Sector

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

The Insurance Regulatory and Development Authority (IRDA)

Customer perception and attitude towards ICICI Prudential life insurance

Function and powers of IRDA

Customer perception and attitude towards ICICI Prudential life insurance

Impact of IRDA on Indian Insurance sector

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

www.nationalinsuranceindia.com www.niacl.com www.orientalinsurance.nic.in www.uiic.co.in www.bajajallianz.co.in www.icicilombard.com www.itgi.co.in www.ril.com

Customer perception and attitude towards ICICI Prudential life insurance

Introduction ICICI Prudential

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Prudential plc It is established in London in 1848, prudential plc is a leading internal

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Associate Regional Manager

Area Manager/Sales Manager

Senior Agency Manager

Senior business Manager

Customer perception and attitude towards ICICI Prudential life insurance

STUDY OF DEPARTMENTS IN THE ICICI PRUDENTIAL Finance

Customer perception and attitude towards ICICI Prudential life insurance

Bancassurance and Alliances

Customer Service and Operations

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Flexible Rider Options

COMPETITORS FOR ICICI PRODUENTIAL

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Underwritten over 9 million policies since inception

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Organisation with Innovative HR Practices Indira Group of Institutes

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

Customer perception and attitude towards ICICI Prudential life insurance

RESEARCH METHODOLOGY Topic of the study

Need for the study

Scope for the study

Customer perception and attitude towards ICICI Prudential life insurance

Limitation of the study

Customer perception and attitude towards ICICI Prudential life insurance