A Project Study Report On Training Undertaken at

ANALYSIS OF ICICI PRUDENTIAL LIFE INSURANCE

Submitted in partial fulfillment for the Award of degree of

Master of Business Administration

Submitted by
ANAMOL SINGH MBA III SEM Year

Submitted to
MR. ANSHUL MATHUR (FACULTY GUIDE)

2010-2012 ARYA INSTITUTE OF ENGINEERING & TECHNOLOGY RIICO INSTITUTIONAL AREA, KUKAS, JAIPUR

ACKNOWLEDGEMENT
I express my sincere thanks to my project guide, Mr. SACHIN JAIN Designation manager, Dept marketing, for guiding me right from the inception till the successful completion of the project. I sincerely acknowledge him for extending their valuable guidance, support for literature, critical reviews of project and the report and above all the moral support he/she/they had provided to me with all stages of this project. I would also like to thank the supporting staff of ICICI LIFE INSURANCE BANK Department, for their help and cooperation throughout our project.

ANAMOL SINGH MBA III sem

PREFACE
This project report has been prepared as per the requirement of the syllabus of MBA course structure under which the students are required to undertake real life short term corporate study..

Performing such study and surveying the market was a firsthand experience for me. I was exposed to the professional set-up and faced the market, which was really a great experience.

During project period, I had very touching experiences. When business is involved, experiences counts a lot, as we know, experience are an instrument, which leads towards success. We all know that working in market on the grass route level has always been a pleasure.

Now I take this opportunity to present the project report and sincerely hope that it will be as much knowledge enhancing to the readers as it was to use during the fieldwork and the completion of the report.

EXECUTIVE SUMMARY
ICICI PRUDENTIAL Life insurance is the oldest life insurance company in the world. It is the largest insurer in the UK and is the 28th largest company in the world. In India, the company is marketing life insurance products and unit linked investment plans. From my research at ICICI , I found that the company has a lot of competition from other private insurers like HDFC, Aviva, Birla Sun Life and Tata AIG. It also faces competition from LIC. To compete effectively ICICI PRUDENTIAL could launch cheaper and more reasonable products with small premiums and short policy terms (the number of years premium is to be paid). The ideal premium would be between Rs. 5000 Rs. 25000 and an ideal policy term would be 10 20 years.

ICICI must advertise regularly and create brand value for its products and services. Most of its competitors like Aviva, HDFC, Max, Reliance and LIC use television advertisements to promote their products. The Indian consumer has a false perception about insurance they feel that it would not benefit them if they do not live through the policy term. Nowadays however, most policies are unit linked plans where a customer is benefited even if their death does not occur during the policy term. This message should be conveyed to potential customers so that they readily invest in insurance.

Family responsibilities and high returns are the two main reasons people invest in insurance. Optimum returns of 16 20 % must be provided to consumers to keep them interested in purchasing insurance.

LIST OF CONTENTS

1. Introduction to the industry 2. Introduction to the organization 3. Research Methodology 3.1 Title of the study 3.2 Duration of the study 3.3 Type of research 3.4 Scope of the study 3.5 Limitation of the study 4. Interpretation & analysis 5. Facts & findings 6. SWOT 7. Conclusion 8. Recommendation 9. Bibliography

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