INTRODUCTION

The study was undertaken to accomplish the assignment of measuring Brand image of ICICI Prudential
Life Insurance.

Insurance is a Service marketing, where every insurance company serves for customers.

In today’s market there are many no of insurance companies, which are not up to, the expectations in terms
of sales. At present every insurance company will focus on increasing the sales, but no one will concentrate
on customer satisfaction.

There are few companies, which are leading the market with their brand image. ICICI is one of the leading
insurance companies in private sector with brand image of ICICI.

The customer develops a set of brand belief about where each brand stands on each attributes or factors. A
set of belief about a brand makes up the brand image. The customer brand image will vary with further
experience has filtered by the effects of selective perception, selective distortion and selective retention.

[From various products of ICICI i.e. Banking, Loans, Mutual funds, General and Life insurance, web trade,
the consumer can make up the brand image of ICICI based on the services provided by the above said
sections.]

Actually this project deals with the measuring of Brand image of ICICI prudential Life Insurance in the
terms of customers’ satisfaction. The methodology adopted to achieve the above task is as follows.

The respondents are divided as the present customers, lost customers and the non-customers of ICICI
prudential life insurance company.

The study includes the measure of satisfaction levels of the customers. It also aim at the estimation of going
back of lost customers. The research of the non-customers of ICICI Prudential was aimed at measuring the
inclination of them towards ICICI.

1
 EXECUTIVE SUMMARY

People are becoming more and more aware of their life styles and their income level. So that they need a
plan which has optimum balance between their investment and savings. They require an integrated plan
for the investment. The customer requires those investment options which provide them flexibility and
liquidity and tax benefit.

The Insurance Summit was comprehensively focused on all issues at the policy level, that had a bearing
on the effective delivery mechanisms which insurance services facilitated and depended penetration levels
in the Indian market. The Summit deliberated on these issues through panels consisting of eminent subject
experts, who focused on approaches and policy / administrative framework. Dignitaries and senior
personnel from the Insurance and associated industries attended the Summit.

The idea of insurance as an investment is growing day by day earlier. One of the insurance player icici
prudential life insurance is a joint venture between, a ICICI bank player in India Insurance companies to
begin operations after receiving approval from Insurance Regulatory Development Authority. (IRDA)

A projrct report on “A STUDY ON BRAND IMAGE OF ICICI PRUDENTIAL LIFE INSURANCE LTD”

2
 INDUSTRY PROFILE

Life insurance is a contract for payment of a sum of money to the person assured for (or falling him/her,
to the person entitled to receive the same) on the happening of the event insured against usually the
contract provides for the payments of an amount on the date of maturity or at the specified dates at
periodic intervals or on unfortunate death, if it occurs earlier. Among others things, the contract also
provides for the payment of premium periodically to the corporation by the assured. Life insurance is
universally acknowledged to be an institution, which eliminates risk substituting certainly for uncertainty
and comes to the timely aid of the family in the fortunate event of the death of the bread winner. By and
large, life insurance is civilization’s partial solution to financial uncertainties caused by untimely death.

Life insurance, in short, is concerned with two hazards that stand across the life path of every person.
That of dying prematurely living a dependent family to fend for itself and that too old without visible
means of support

ICICI Prudential Life Insurance Company Ltd. (ICICI Prudential Life) is a joint venture betweenICICI
Bank Ltd., one of India's largest private sector banks, and Prudential Corporation Holdings Limited.

CICI Prudential Life began its operations in fiscal year 2001 and has consistently been the market
leader* amongst private players in the Indian life insurance sector. Our Assets Under Management
(AUM) as on 31st March 2017 were `1,229.19 billion.
At ICICI Prudential Life, we operate on the core philosophy of customer centricity. We offer long term
savings and protection products to meet different life stage requirements of our customers. We have
developed and implemented various initiatives to provide cost-effective products, superior quality
services, consistent fund performance and a hassle-free claim settlement experience to our customers.

3
 INSURANCE BUSINESS

Insurance business is divided in to four classes:

1. Life Insurance

2. Fire Insurance

3. Marine Insurance

4. Miscellaneous Insurance

Life Insurance transacts life insurance business; General Insurance transacts the

rest. No composites are permitted as per law.

LEGISLATION (as on 1.4.2000):

Insurance is a federal subject in India. The primary legislation that deals with insurance business in
India is:
Insurance act, 1938, and Insurance Regulatory & Development Authority Act, 1999.

INSURANCE PRODUCTS (as on 1.4.2000) (for latest information get in touch with the current
insurers- website Information of Insurance is provided at the webpage for insurers):

Life Insurance: Popular products: Endowment assurance (participating) and Money back (participating).
More than 80% of the life insurance business is from these products.

General Insurance:
Fire and Miscellaneous insurance business are predominant. Motor vehicle insurance is compulsory.
Tariff advisory committee (TAC) lays down tariff rates for some of the general insurance products (please
visit website of GIC for details)

2001:New products have been launched by life insurance. These include linked products. For details,
please visit the website of life insurance.

4
 COMPANY PROFILE

INTRODUCTION:

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 sector
insurance companies to begin operation in December 2000 after receiving approval from Insurance
Regulatory Development Authority(IRDA).

ICICI Prudential’s equity base stands at RS.9.25 billon with ICICI Bank and prudential plc holding 74%
and 26% stake respectively. In the financial year ended March 31, 2005,the company garnered RS 1584
Core and wrote nearly 615000 polices. The company has a network about 56000 advisors;
As well as 7 bank assurance and 150 corporate agent tie ups. For the post four years, ICICI prudential has
retained it’s position as the no 1 Private Life Insurer in the country, with a wide range of flexible products
that meet the needs of the Indian customer at every step in life

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 VISION
Our
vision:

To make ICICI prudential the dominant Life and pension’s player built on trust by world – class
pe
ople and service.This we hope to achieve by:

Under the needs of customers and offering them superior products and services.

Leveraging technology to service customers quickly, efficiently and conveniently.

Developing and implementing superior risk management and investment strategies to offer sustainable and
stable returns to our policy holder.

Providing an enabling environment to foster growth and learning for our

employees. And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5 core values – Integrity,
customer first, Boundary less, Ownership and passion. Each of the values describe what the company
stands for, the qualities of our people and the way we work.

We do believe that we are on the threshold of an exciting new opportunity, where we can play a significant
role in redefining and reshaping the sector. Given the quality of our parentage and the commitment of our
team, there are no limits to our growth.

THE COMPLETE BANK

ICICI Bank

ICICI Bank (NYSE:IBN) is India’s second largest bank with an asset base of RS.106812 core. ICICI Bank
provides a broad spectrum of financial services to individuals and companies. This includes mortgages,
car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services
growing customer base of more than 7 million customer accounts and 5 million bondholders accounts
through a multi – channel access network. This includes about 450 branches and extension counters, 1675
ATMs, call centers and internet banking (www.icicibank.com). ICICI Bank posted a net profit of RS.1,206
core for the year ended March 31, 2003. ICICI bank is the only Indian company to be rated above the
country rating by the international rating agency Moody’s and the only Indian company to be awarded an
investment credit rating. The Bank enjoys the highest AAA (or equivalent) rating from all leading Indian
rating agencies.

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Prudential plc

Established in 1848, prudential plc is a leading international financial services company in the UK, with
around US$250 billion funds under management, and more than 16 million customers worldwide.
Prudential has brought to market an integrated range of financial services products that now includes life
assurance, pensions, mutual funds, banking, investment management and general insurance. In Asia,
prudential is UK’s largest life insurance company with a vast6 network of 22 life and mutual fund
operations in twelve countries – China, Hongkong, India, Indonesia, Japan, Korea, Malaysia, Philippines,
Singapore, Taiwan, Thailand and Vietnam. Since 1923, prudential has championed customer – centric
products and services, supported by over 60,000 staff and agents across the region.

Distribution:

ICICI prudential has one of the largest distribution networks amongst private life insurance in India,
having commenced operations in 69 cities and towns in India, they are Agra, Ahmadabad, Ajmer,
Alahabad, Amrutsar, Aurangabad, Bangalore, Bareilly, Bhatinda, Bhopal, Bhuvaneshwar, calicut,
chandigarh, Chennai, coimbatore, Dehradun, Durgapur, Faridabad, Goa, Guntur, Gurgoan, Guwahati,
Hyderabad, Hubli, Indore, Jaipur, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Kochi,
Kolkata, Kolhapur, Kota, Kottyam, Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mumbai, Mysore,
Nagpur, Nasik, Nodia, New Delhi, Patiala, Pune, Raipur, Rajkot, Ranchi, Rourkela, Simla, Siliguri, Surat,
Thane, Thrissur, Trichy, Trivandrum, Udaipur, Vadodara, Vapi, Varanasi, Vashi, Vijayawada and Vizag.

The company has seven bank assurance tie-ups, having agreements with ICICI Bank, Federal Bank, south
Indian Bank, Bank of India, Lord Krishna Bank and some co-operative banks, as well as over 160
corporate agents and brokers. It has also tied up with organizations like Dhan for distribution of salaam
Zindagi, a policy for the socially and economically underprivileged sections of society.

ICICI prudential has recruited and trained about 50,000 insurance Advisors to interface with and advice
customers. Further, it leverages its state-of-the-art IT infrastructure to provide superior quality of service
to customer

PRODUCTS
❖ Saving plans

❖ Child plan

❖ Protection plan

❖ Retirement plan

❖ Health Insurance Plan

❖ Unit Link Insurance Plan

ICICI prudential life insurance offers a range of innovative, customer-centric products that meet the
ends of customer at every life stage. Its 20 products can be Enhanced with up to 6 riders, to create a
customized solution for each policyholder.

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Savings Solutions

• Cash Advantage- A plan that offers regular additional income for celebratinh life and
making all those precious moments a little extra special

• Saving Suraksha- Offer Your Saving to Opportunity to grow

• While Enjoing the Benefits of Granted Returns

Protection plan:

We all hope to live a full life till a ripe old age… to ensure our childern’s sustenance and healthy growth.
But if a sudden disability or illness strikes? Besides the grief and the plan, such an event also completely
disrupts life for all the people who are financially dependent on us. Our life insurance policies offer a
comprehensive range of protection benefits.

• I Protect Smart- Offer your family 360 protection againsdeathDisability and disease.A plan
that provides life cover + 34 Critical Illnessess cover Accident Cover and Much more

• I care II – A protection plan that covers your love ones and ensures that nothing ever comes in
the way of there dreams

Child plan:

As a responsible parent, you will always ensure a hassle-free, successful life for your child. However, life
is full of uncertainties and even the best laid plans go wrong. Here’s how you give your child a 100% safe
and assured tomorrow, whatever the uncertainties. Smart kid child plans are designed to provide flexibility
and to safeguard your child’s future education and lifestyle, taking all possibilities into account.

• Smart Life- a Plan That Safe Guardes your family futures with the promise of
continue wealth creation even when you are not around

• Smart Kid soluction- With icicipru Smart life a plan that grows your investment and
secures the education silestones of your children

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Retirement Plan:

Most of you picture yourselves enjoying the fruits of labor after retirement, going on your dream vacation,
or helping your children’s career take wing. But do you realize that financing all this will most likely
depend partly on your personal saving? Because personal savings and investment represent a significant
source of retirement income for many people, you can never save too much.

Currently you are at a stage where you are juggling many roles, as nurturing parents, dutiful caregivers to
elders, supportive life partners, while trying to maintain a career. It is too easy to get carried away handling
and solving the day-to-day problems to not look into your retirement need. It may also seem too far away
to be of concern. But a look at the issues below will make the need for some strategic planning at this stage
amply clear.

Today, thanks to a healthier lifestyle and advances in medicine, the average Indian lives longer. This makes
the challenge of accumulating enough money for retirement even more difficult, since it may have to last
longer. Also, with the falling interest rate scenario and the raising costs of medical expenses retirement
means monetary uncertainty for most of us. More so, because there is also the ever-persistent evil of
inflation, which erodes your purchasing power.

Therefore, the message is simple-put time on your sides and start Early.

We,at ICICI prudential life insurance believe in the philosophy of providing meaningful and
comprehensive insurance solutions to plan your retirement. Our insurance are the most optional tools to
plan your retirement because they give you safety, Liquidity, Tax benefits, Health cover and life protection
and thus ensure that you are comprehensively covered.

ICICI prudential presents Retirement solutions that combine the best of investment and insurance. These
solutions are developed to ensure your peace of mind for the years to come. Solutions that give you the
power to maintain your lifestyle need for as long as you live.
• Easy Retirement- A plan that provies regular income for you in Your golden year with the potential
growth of equity and debt funds while inshuring that you do not loss your money no matter what
• Immediate Annuity- Make sur that you your spouse live a comfortable life in your golden years
with regular income to take care of your daily expences and more. You can also leave a legacy for
your childrean

Health Insurance Plan

• Heart Cancer Protect-

Get complete protection from heart ailments and cancer for you your spous
Unit Link Insurance Plan
• Life Time classic – Achieve your financial goals with growth potaincial of equity,
• debt and balance funds along withlife cover to Protecte your loved ones
• Elit Life Super- a Life Insurance Plans that’s a super achiver just like you
• Elit Wealth Super- a Life Insurance Plans that Is as Exclusive as your goals

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 MANAGEMENT

Board of Directors

The ICICI prudential Life Insurance Company Limited Board comprises reputed people from the finance
industry both from India and abroad.

Mrs.Chanda D Kochhar, Chairman

Director
Mr.N.S.Kannan
Mr.AdrianO’connor

Independent Director
Mr.Marti G Subrahmanyam
Mrs. Rama Bijapurkar
Mr. V Sridar
Mr.M S Ramchandran

Managing Director and CEO

Mr.SandeepBakshee

Ecutive Director
Mr.Puneet Nanda
Mr.SandeepBatra

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 THEORETCAL FRAME WORK

Marketing:

Marketing is indeed an ancient art it has been practiced in one way or the other since the days of adam and
eve. Its emergency as a management discipline, however, is of relatively recent origin. And with in this
relatively short period, it has gained a great deal of importance and stature, in fact today most management
thinkers and practitioners the world over, regarding marketing as the most important of all management
function in any business.

Definition of Marketing:

“Marketing is a social and managerial process by which individuals and group obtain what they need and
want through creating, offering and exchanging products of value with others”.
-Philip Kotler

“Marketing consist of all activities which a company adopts itself to it’s environment- creativity and
profitability”.
-Roy Corey

The Marketing concepts:

The marketing concept was born out of the awareness that marketing starts with the determination of
customer wants and ends with the satisfaction of those wants the concept puts the consumer both at the
end of the business cycle. It stipulates that any business should be organized around the marketing
function, anticipating, stimulating and meeting customer’s requirements. The customer, not be corporation
has to be the center of the business universe. A business cannot succeed by sampling products and services
that are not properly designed to serve the needs of the customers. It proclaims, “the entire business has to
be seen from the point of view of the customer”.

Definition of marketing research:

Marketing research is the systematic problem analysi analysis, model building and fact for the purpose of
improved, model building and fact for the purpose of improved decision making and control in the
marketing of goods and services”.
Philips kotler

“Marketing research serves two major functions, it provides information for decision making and it
develops new knowledge”.
-Robert Ferder

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Nature and scope of marketing research:

Marketing research is of a comparatively recent origin even through it made a slow beginning its growth
in a short span has been tremendous. It has, in the course of development sophisticated methods and
methodologies in the application of statistical and behavioral science concepts. The use of marketing
research in consumer market is now reasonably wide spread. It ascertains the position of the company in
a specific industry. It indicates the present and future trends of the industry and thus points out or the
company affairs are to be managed. It helps in the development and introduction of new products. It offers
guidance for improving the current products of the company. It helps the effective of sales management.
It can reduce the risk involved in marketing decision.

Elements of Marketing Research:

Marketing Segmentation:
It covers the aspects regarding size and nature of the marketing including export marketing, dividing the
consumers in forms of their age, sex and income. It covers the economic aspects of marketing.

Sales search:
It relates to the problem of region variations in sales, fixing sales, priorities, Measurement of effective of
salesmen, evaluation of sales methods and incentives.

Product research:
It relates to the analysis of the strength and weakness of existing product, product testing and problems
relating to diversification, simplification, trading up and trading down.

Packaging research:
In essence it is part of product research. But recent development in packaging and its combination to
advertising has led to it, to occupy in independent position of packaging. To know the impact and its
response in the market has become an independent research field.

Advertising research:
It undertakes a study releasing to the preparation of the advertisement copy, the media to be usedand the
measurement of advertising effectiveness.

Exporting Projections:
This research is intended to study the export potentials of the product.

Demand Projections:
Demand may be estimated in units or value terms and also, the overall growth rates in key market
agreement are often estimated for better sales management.

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Supply:
Marketing research studies also similarly carries out or analysis of the supply side of the market. It includes
present supply structure. Supply structure refers to the study of how companies operate in the market and
how are sales distributed among them? Secondly study how differentiated are the products offered market
share analysis for brand positioning of each brand, distribution channels adopted and method of selling,
price charged and how they adopted and corporate image and capabilities, in other words it tries to
ascertain how the competitors are defining their business in terms of consumer groups segments being
pursued as reflection by their marketing mix portfolios.

Business Economic Research:

Problems relating to input and output analysis, forecasting, price and profit analysis, preparation of break
even charts are the main field of this research.

Limitation of Marketing Research:

Marketing research is not an exact science as it relates to consumers, it cannot be accepted as an exact
marketing research concerns primarily the consumer as a human being study human behaviorprecluded
absolute mathematical accuracy. Probable trends as the most can be indicated to exactwith in
predetermined limits. This sets basic limitation to marketing research.The information gathered by
marketing research reduces the risk involved in decisions. Marketing research is very important in
developing market strategy

13
 OBJECTIVES OF THE STUDY

1. The basic objective of this study is to the measuring brand image of ICICI prudential life insurance.
The estimation of brand image includes the existing customers , the non-users of the ICICI
prudential life insurance.

2. The survey of the present customers of ICICI prudential life insurance is carried out to estimate
the levels of their satisfaction with regard to the service of the ICICI prudential life insurance .ad
also to analyze the shortcoming in the service of the ICICI prudential life insurance, because the
satisfactory levels of the customers using ICICI prudential life insurance will reflect whether they
continue to use or not.

3. The survey of the people, who never used the service of ICICI Prudential life insurance helps us
to unhide the reasons for not using it.

4. Hence measuring brand image of ICICI prudential life insurance, is basically measured from two
different points , retaining present customers ,attracting Lost customers by assuring quality services
and attracting new customers this service and in expanding its market.

14
 MARKETING RESEARCH

Marketing research is a dynamic subject it has a wide coverage including marketing studies relating to
market product policies mean and methods etc. Marketing research begins even when production is in the
planning stage. It is also continuous through out the lifetime of an enterprise. It is thus a continuous
operating although here may be some adhoc projects taken up for solving specific problems of enterprise.

ICICI Prudential Life Insurance Company Ltd (IPru) delivered an impressive performance in FY17,
registering growth of 29% in retail weighted received premium. The growth further improved to 74.7%
YoY in Q1FY18. The company has been consistent in retaining its market leadership position amongst
private players. As at March 31, 2017, the total assets under management of the company stood at Rs
1,229.2bn, which makes it one of the largest fund managers in India.

Marketing research is the collection and interpretation facts that marketing to get production Mix
efficiently in to the hands of customers. Marketing research encompasses all information pertinent to this
task. It is the systematic objective and exhaustive search from and study of facts relevant to any problem
in the field of marketing.

15
 RESEARCH METHODOLOGY

A research is simply a plan for the study in collection and analyzing the data. Its helps the researcher to
conduct the study and insure that the economical procedures are employed and revenant to the problem,
so it’s purely and simply and framework for the study to guide the collection and analysis the data

1) METHODS OF DATA COLLECTION

1. Data Includes Facts And Fingers Which Are Require To Be Collected To Achiever. The Objectives Of
The Project In Order To Determine The Present Position And Satisfaction Of Customer Of ICICI
Prudential Life Insurance.

A. PRIMARY DATA

The Data that is being collected for the first time or two particularly fulfill the objective of the project
is known as primary data.
This type of data were,
- Exiting Customer of ICICI Prudential Life Insurance
-Non user Customer of the ICICI Prudential Life Insurance
- Responses of consumer
- Identifying process and consumer of the brand

The above primary data were collected throw response of consumer was conducted through questionnaires
prepare for us

B. SECONDARY DATA
Secondary Data Are That Type Of The Data Which Are Already Assemble And Need Not To
Collected From Outside.
This type of Data were
- Company profile
- Product Profile
- Competitors Profile

The afore said DATA were collected through internet and company financial report

1) DATA COLLECTION METHODS

For given project the primary data which needed to collect for the first time were much
significant. This type of information gather through survey technique you which is the most
popular and effective technique for effective technique for correct data collection.
Questionnaire for consumer

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 2) SAMPLING
Sample is the small group taken under consideration from the total group this small group
represent the total group. Which was ask to be studied was pune market but as it was
possible to approach all the respondent customer of the city hence a sample was selected
which represent the whole city. The area selected for the sample are present further in the
appendix sample size of customer list was taken from ICICI prudential life insurance
customer databases

Sample Size – Sample size of the project is 100 policy holders.

3) DATA EVALUATION
The data so collected were not simply accepted because it content unnecessary information
and over or under emphasized facts.therefor only
Relevant data where included In report, which help in achieving the objective of project.

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 LIMATIONS OF THE STUDY

1. The information given by the 100 Respondents may be biased.

2. Suggestions given at the end of the report are based on the information collected, which may not
be accurate due to the changing perceptions of the consumers.

3. Due to time constraint more information could not be collected.

4. Analysis could not be drawn for the entire questionnaire only specific 100 Respondents questions
have been analyzed and interpreted.

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 DATA ANALYSIS & INTERPRITATION

1. Do you think Life Insurance is Essential for every one?(Y/N)

YES NO

YES NO TOTAL
NO OF RESPONDENTS 90% 10% 100
% OF RESPONDENTS 90% 10% 100

1 2

10%

90%

INTERPRITATION
From the total of 50 respondent,90% of the people things having a insurance is very essential for
the perpose of security and sefty of life where as 10% still not aware of the essentialty of the insurance
products

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 2. Are You A Policy Holder?(Y/N)

YES NO TOTAL
NO OF RESPONDENTS 70% 30% 100

NO OF RESPONDENT

YES NO

INTERPRITATION
If you own insurance contract or policy, you are a policyholder, also known as the policy owner. From the
total of 100 respondent 70 numbers is policy holder and 30 numbers is non policy holder.

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 3 (a) Are You Aware Of ICICI Prudential Life Insurance Co. Ltd.?(Y/N)
(b) If yes, how you came to know?

(a) Electronic media (b) print media

(c) Friends (d) Others

Electronic media 40%

print media 20%
Friends 15%
Others 25%

NO OF RESPONDENT

25%
40% 1
2
15% 3
4
20%

Interpretation
There are many ways to people to aware of ICICI PRU. LIFE INSURANCE CO. LTD. Most of the people
aware by Electronic Media 40, then Print Media aware by 20%, then aware by Friends 15%, after that
many of people aware by other sources 25%

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 3. Are You Interested While Watching The Ads? (Yes/No)

YES NO
75% 25%

NO OF RESPONDENT

0%
25%

75%

INTERPRITATION
When we started to study on no of responding while they watching TV that time they theywatching adds
or not ?75% of respondent answered that yes they are watching adds. Or 25% of respondent was not
interested.

22
 4. The Reason For Opting The Company:

(a) brand image (b) Confidence of the company

(c) Attractive policies/benefits (d) high returns

brand image 25% Confidence of the company 15%

Attractive
policies/benefits 20% High returns 40%

NO OF RESPONDENT

40
35
30
25
20
15
10
5
0
Series1 215 125 230 440

INTERPRITATION

Generally the numbers of 25 Respondents are opting the company by Brand Image, 15 numbers of
Respondent was opting by Confidence Of The Company, Then 20 Respondent opting the company by
Attractive policies/Benefits or most of the Respondent opting the company by High Returns.

23
6. What other companies are considered by you at the time of Decision:

(a) LIC (b) ICICI prudential life insurance

(c) Max New York (d) HDFC(standard life)

(e) Birla Sun life (f) Others

COMPANIES NO OF RESPONDENTS COMPANIES NO OF RESPONDENTS

LIC 26% ICICI prudential life 22%
Max New York 12% HDFC(standard life) 19%
Birla Sun life 16% Others 5%

NO OF RESPONDENT

5
% 26%
16% 1
2
3
4
19% 5
22% 6
12%

INTERPRITATION:
Generally the numbers of companies are considered at the time of Decision is the no. of respondent is
LIC 26, ICICI prudential life 22, Max New York 12, HDFC(standard life 19 , Birla Sun life 16 and
Others 5.

24
7. What is the mode of paying your

premium? a).cash b).cheque

MODE RESPONDENTS
CASH 20%
CHEQUE 80%

NO OF RESPONDENT

20%

80%

INTERPRITATION:
Generally the mode of payment is 80% people paid by cheque and 20% of people paid by cash

25
8. How do you feel about the service offered by ICICI prudential life insurance ltd?

a) good b)satisfactory c)bad d)not known

Good 75% Satisfactory 15%

bad 5% not known 5%

NO OF RESPONDENT

5% 5%
15%

75%

INTERPRITATION
ICICI PRU. SERVICE was classified into 4 types.
75% of Respondent said that SARVICE was
GOOD
15% Respondent said that SERVICE was
SATISFACTORY 5% Respondent said that SERVICE was
BAD
5% Respondent said that SERVICE was NOT KNOWM

26
OVERANALYSIS
When the analysis is carried out irrespective of the areas then
the Following are the results:

A. Awareness rate of ICICI prudential life insurance company ltd. Is around 86%

B. And the average rate of people using ICICI prudential life insurance company ltd is 58%.

C. Indicates that the service offered by it is good .and to make it an excellent one, the ICICI prudential
life insurance company ltd. should be in a constant pursuit of excellence to improve its service offered.As
stated earlier ,only 60% of the regular users are interviewed ,still in the analysis the usage rates is found
to be 58% this indicates that the usage rate is good.

To increase the sales on the scale ,the company has to take care of different problems facing by the present
customers and problems encountered by the

Lost customers are also to taken care for not losing any more clients. Steps are to be taken to attract the
non- users of ICICI prudential life insurance company ltd.

27
 RESULT AND FINDINGS

• Today 90% Of the People are aware of essentiality of life insurance produce in their life
• ICICI Prudential Life Insurance Is the Second Most Trusted Private Insurance Company
• Out of the total surveyed people 70% of the crowed had adopted ICICI Prudential life
Insurance For their Protection plan
• In tern Of life Insurance, 60% of Respondent has adopted Insurance as best option
• There are few which contribute 10% of the people surveyed who are not satisfied with the company

28
 SUGGESTIONS

1. The company must increase the awareness of insurance.

2. The company should concentrate on interest rates.

3. The company should introduce quality products.

4. The company should decrease the premium of the products.

5. The company should concentrate on rural areas.

6 .whenever changes occur in the company it should inform to the customers.

7. While introducing the product the company should consider the middle level families

8. The premiums should be collected in the form of cash instead of cheque mode of payment.

9. The company should satisfy the customers by increasing their servic

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 QUESTIONNAIRE

1. Do you think Life Insurance is Essential for every one?(Y/N)

2. Are you a policy holder?(Y/N)

3.(a) Are you aware of ICICI prudential life Insurance Co. Ltd.?(Y/N)
(b) If yes, how you came to know?

(a) Electronic media (b) print media

(c) Friends (d) Others

4. Are you interested while watching the ads? yes/no

5. The reason for opting the company:

(a) brand image (b) Confidence of the company

(c) Attractive policies/benefits (d) high returns

6. What other companies are considered by you at the time of Decision:

(a) LIC (b) ICICI prudential life insurance

(c) Max New York (d) HDFC(standard life)
(e) Birla Sun life (f) Others

7. What is the mode of paying your

premium? a).cash b).cheque

8. How do you feel about the service offered by ICICI prudential life insurance ltd?

a)good b)satisfactory c)bad d)not known

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 BIBILOGRAPHY (WEBSITES)

Websites:
1.www.iciciprulife.com
2.www.google.com

Book:
1. Product Brochure
2. ICICI Prudential Company Magazine

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