DECLARATION

I, Supriya Sharma hereby declare that I have carried out my project in

ICICI Lombard titled as, “Design and development of Recruitment

tracking system” .

I further declare that this project is my original work and no part of this

report has been published or submitted to any body or University for

award of Degree/diploma.

Date :

Place: [Supriya Sharma]

 Acknowledgement

A project report like this can be completed without help and advice

from different services. This summer training project has been

made possible through the direct and indirect co-operation of

various person for whom I wish to express my appreciation and

gratitude.

As the part of M.B.A. program, this summer training project helped

me and given me a chance to work and gain experience in my

specialization subject.

First and foremost I am thankful to the academic and the administrative

member of the IIMT family, for giving me a chance to work on this

project .I am thankful to Mr. Rohan Chopra,Mr. Vinod joshi and Mr.

Sambaran Dutta (HR Manager) ICICI Lombard General Insurance

Company with Alok kumar OF H.R department not only for his idea

regarding the project work. But also for his effective guidance whole

hearted co-operation and support while developing this project.

Last but not least, I am thankful to that person who helps me morally

while conducting survey to collect the primary data regarding the project.
 Preface

This report prepared during the summer training is life’s greatest treasure

as it is full of experiences, observation & knowledge.

Truly said that “Self knowledge is best gained not by contemplation but

by action” Training as a part of MBA is also a step towards self

improvement “Till now whatever we have studied is theoretical only and

now we have seen implemented that things in a practical manner.

The only drawback was that time available in hand was short and there

was too much to learn, yet the things learned shall never be forgotten and

are of great help in the near future.

I wish the ICICI Lombard all success in there future endeavors.

ICICI LOMBARD (HISTORY)

ICICI Lombard general insurance company limited is a 74:26 joint

venture between the ICICI Bank, a premier financial powerhouse and

Fairfax financial holdings Ltd., a US $ 26 billion diversified financial

services company engaged in general insurance, reinsurance, claims

management and investment management, Lombard Canada Limited, a

group company of Fairfax Financial Holdings Limited, is one of

Canada’s oldest property and casualty insurers. ICICI Lombard’s success

is testimony to the fact that two of the most trusted names in the financial

sectors have come together to offer world-class service. ICICI Bank’s

strong brand equity, extensive distribution network and sound

technological infrastructure to serve customer needs combined with

Lombard’s domain knowledge, product innovation and business

processes help in providing internationally benchmarked service levels.

To Indian consumer this means the security of strong parentage, with

access to a range of customized and innovative insurance solutions that

are supported by internationally benchmarked service levels.

Why ICICI Lombard

 India’s number one private general insurance company

 First general insurance company in India to be ISO 9001:2000

certified.

Simple and fast documentation

 Lightning fast claims settlement

 Instant online policy issuance

 Comprehensive product line

 First company to provide digitally signed documents through an

online interface

 Achieved financial breakeven in first full year of operations

 Achieved underwriting breakeven in second year of operations

Some of the signification initiatives that have been taken in the

recent past by ICICI Lombard include:

Arogya Raksha Yojana:

This project is a unique and first of its kind in the country providing an

affordable Rural Health Insurance scheme to rural masses. The project is

being done in collaboration with Narayana Hrudalaya Hospital in

Bangalore and Bicon Ltd. in the first phase approximately 60,00 residents

of Anekal Taluka of Karnataka have been covered. The product offers a

comprehensive cover comprising of primany, secondary and tertiary

health care.

Under this scheme the insured is entitled to free out patient treatment at

the network hospitals, special discounts on outpatient diagnostics,

hospitalization for medical conditions and 100% coverage for over 1600

surgeries (both complex and simple). These include, cardiac, OBG, ENT

and Renal surgeries. A network of 17 hospitals in the taluak and villages

have been contracted to provide the services to the insured on a 100%

cashless basis. This is the first rural health insurance policy in the country

where treatment is offered to the insured at the hospitals without him

having to pay for it and then seek reimbursement from the insurance

company. Also this is the first rural health insurance policy in the country

where the insured is covered for all pre-existing diseases from the first

day of the policy. Over 100 claims for surgeries have been pre-authorized

so far since the commencement of this scheme in February2005.

Insurance partnership with Manipal Group of hospitals:

This is a comprehensive accident cum hospitalization cover is being

extended to village clusters in the coastal area stretching from North Goa

to North Kerala through a 100% cashless scheme in collaboration with

the Manipal Group of Hospitals. In the first phase approximately 50,000

lives including people below poverty line, have been covered. The

product covers Standard hospitalization costs and also includes all pre-

existing diseases.

Through Self-help groups of Dharmasthala Trust:

Approximately 2 lakh members of self-help groups spread across 450

villages in 2 districts in Karnataka are being covered under this low

value, 100% cashless, hospitalization cover. More than 35 local hospitals

have been tied up for scheme.

Bundling with Micro credit:

Critical illness and accident cover has been bundled along with loans

being disbursed by KAS foundation, a Micro Finance Institution, based

out of Orissa and Chattising. Since the insurance premium is bundled

with the loan, it makes it affordable for the people who otherwise find it

difficult to upfront one-time premium every year.

 ICICI LOMBARD (Philosophy)

Claim Settlement

Lightning-fat claim settlement is one of the key areas of focus for ICICI

Lombard. Our dedicated relationship managers, wide spread network

across India and presence of 2407 call centers assure our customers that

we are always on call, day or night.

Rural Initiative

ICICI Lombard believes in striking the right balance between the

commercial and socio-economic aspects of the insurance business. In its

endeavourer to offer tailor-made products to meet the requirement of the

rural population, explore business opportunities in the related segments

and build a competitive edge through strong distribution network and

product innovation, ICICI Lombard uses intermediaries like ICICI Banks

kiosks, direct selling agents, state-level tie-ups, ITC’s e-chouplas, NGO’s

and other micro-finance institutions (MFI’s)

The rural segment of offers immense business opportunities for insurers

since it constitutes 50% of the GDP. Growing per capita and disposable
income and rising financial awareness among rural masses has upended

up new avenues for insurers in this segment.

Corporate business

ICICI Lombard has emerged as a major player in the corporate segment

with a well-balanced portfolio. It has made forays into specialized

products that require complex product development and strong

underwriting skills. In addition, a strong distribution has enabled it to

reach out to over 3,000 corporate. It also offers single point contact

through dedicated relationship managers for both sales and customer

service.

Bancassurance:

The company has set up a dedicated SBU to cater to bancassurance

business managed by dedicated teams for each bank partner across all

locations to ensure highest levels of service to the channel and their

customers and to provide complete support and value addition to the

bank partners. Our bancassurance philosophy emphasizes on complete

respect for the partner’s brand and business model with a clear

understanding that the partner owns the customer.

The company has tied up with few partners like ABN Amro Bank, ICICI

Bank, UTI Bank etc, to ensure complete support and continuous value

addition to the partner. The business philosophy behind the

bancassurance initiative is to leverage distribution synergies with

partners. The channel offers unmatched product suite customized for

bank channels and customers.

Retail

ICICI Lombard aims to tap retail segment through multi-product and

multi-channel approach to marketing. The company believes that retail

segment has immense potential and will drive the company’s growth in

future. It has presence in all retail categories – travel, health, home and

motor. It has launched a number of innovative products and features in

each category like ‘Pay-per-day’ in Overseas Travel Insurance. The key

to success in this area is effective market segmentation and targeted

product offerings that meet customer needs.

e-channel

ICICI Lombard’s e-channel initiative has embraced technology with open

arms. The effective use of technology platforms has enabled customers to

view all their insurance transactions through the web on a real time basis.

ICICI Lombard’s e-channel mainly focuses on targeting customers

through Internet, intranet (of large corporates and manufacturing

companies) and other national level distribution network. The focus is on

targeting customers through the online medium. The model is to develop

an integrated and customized product platform with key partners – ICICI

Direct, ICICI Bank, preferred partners – meneycontrol.com and

indiatimes.com and other websites.

 ICICI Lombard (Partners)

Bancassurance

ICICI Lombard General Insurance is the only company with a dedicated

bancassurance distribution channel. The company’s key bancassurance

partners include ICICI Bank, ABN Amro Bank and Centurion Bank. It

has complete respect for the partner’s brand and business model and

believes that the customer is “owned” by the partner.

ICICI Bank: ICICI bank has a network of about 505 branches and

extension counters and over 1,850 A TMs. It offers a wide range of

banking products and financial services to corporate and retail costomer

through a variety of delivery channels

ABN Amro: ABN Amro bank (India) has an 81 yeas long experience of

the Indian business scenario. It ranks among the top 10 banks in the

world in size and strength. As an international bank, it has more then

3,500branches in over 70 nations across the globe.

Centurion bank: Centurion bank has an extensive network of branches

across India. Each branch has access to centurion banks will distribute

personal and business covers of ICICI lombred through its branches,

direct sales teams and marketing offices across India.

ICICI LOMBARD (Core values)

Managing Risk-

The ability to identify, quantify and manage risk is intrinsic to success in

the insurance. ICICI lombard’s risk management approach balances the

need to provide cost effective solutions to our customers while delivering

optimal shareholder returns. Success on both fronts is reflected in the

numbers: While the number of policies sold increased by 2.5 times in

fiscal 2004, profits grew almost ten- fold during the year.

A strong capital base gives an insures the ability to service large claims

in the event of a catastrophe. This is a key determinant of growth as it

provides comfort to customers in a business that is largely driven by

trust.
IT & Infrastructure:

ICICI Lombard has effectively used Information Technology to meet

growing customer needs while improving operational efficiency and

profitability. The company’s IT strategy, architecture and successful

deployment form the backbone of its business.

Distribution Reach:

ICICI Lombard General Insurance Company’s endeavor is to become

India’s preferred provider of the entire array of financial products and

services. The company has built a robust franchise network in association

with its joint venture partners to expand coverage. The company

presently has 103 offices across India manned by over 1,200 employees.

It believes in targeting customers through multi-channel route including

direct sales, agents, brokers, bancassurance, alternate channels and the

Internet. Thus, the customer have number of channels to choose from.

Human Resource:

ICICI Lombard believes in progressive human resource philosophy that

turns human capital into a key source of competitive advantage. The

capability and motivation level of employees is a key determinant in

success of any service-oriented organization.

Partnerships:

Effective partnerships and alliances form an integral part of the

company’s strategy. ICICI Lombard believes that a leveraged distribution

model via partnerships and alliances will be a key driver of its growth in

future. Partnership driven alliances model allows the company to cash-in

on the parher’s customer network so that the customer gets a packaged

offering of products.

Staying ahead in partnership through Bancassurance tie-ups-

 ICICI Bank

 ABN Amro Bank

 Centurian Bank of Punjab

Product Innovation:

Product innovation is key to business growth. ICICI Lombard believes in

challenging existing product assumptions and targeting new product-

market segments. This has helped the company in customer acquisition

and retention as well as in increasing category penetration.

The company has launched a slew of products and has emerged as a

major player in the corporate and retail segment driven by a well-

balanced portfolio.

Staying ahead in product innovation through:

 During the year 2004: the company in coordination with the world

Bank launched insurance.

 The company’s Overseas travel Insurance is the only product in the

market that offers premium calculation on a ‘Pay-per-day’ basis as

against paying premium on a slab-wise basis.

 A unique Senior Citizen Overseas Travel Insurance plan to cover

senior citizens up to the age of 85 years was launched by the

company during the year 2004. It is the only policy of its kind in

the market.

 Loan care-first time launched in India protecting the lender from

borrower default on account of death, permanent disability, loss of

job and loss pay due to critical.

Customer Service:

Insurance is a service-specific industry. Customer service is one of the

key area of focus for ICICI Lombard. The company has built high levels

of customer loyalty and advocacy in relatively short period of time.

Staying ahead in customer service through:

 Dedicated relationship managers for both sales and customer

service.

 Insurance portfolio analysis and risk advisory services

 2407 call center

 Branch offices in 103 cities

 Online centers to service better

 Bancassurance branch network

 SME Potential Insurance Customer

Revenue earners from the base for ICICI Lombard include:

 Ready-made garment exporters

 Job work

 Offset printing

 Machinery and other manufacturers

 IT Industry

 Engineering

 Plastic and packaging industries

 Dealers (Maruti, Yamaha, Suzuki, etc.)

 Others
 Insurance in India

Insurance is a federal subject in India and has history dating back till

1818. Life and general insurance in India is still a nascent sector with

huge potential for various global players with the life insurance

premiums accounting to 2.5% 0f the country’s GDP while general

insurance premiums to 0.65% of India’s GDP. The insurance sector in

India has gone through a number of phases and changes, particularly in

the recent years when the Govt. of India in 1999 opened up the insurance

sector by allowing private companies to solicit insurance and also

allowing FDI upto 26%. Ever since, the Indian insurance sector is

considered as a booming market with every other global insurance

company wanting to have a loin’s share. Currently, the largest life

insurance company in India is still owned by the government.

Related Acts:

The insurance sector went through a full cirle of phases from being

unregulated to completely regulated and then currently being partly

deregulated. It is governed by a number of acts, with the first one being

the Insurance Act, 1938.

The Insurance Act, 1938

The insurance Act, 1938 was the first legislation governing all forms of

insurance to provide state control over insurance business.

Life Insurance Corporation Act, 1956

Even though the first legislation was enacted in 1938, it was only in 19th

of January, 1956 that life insurance in India was completely nationalized,

through the Life Insurance corporation Act, 1956. there were 245

insurance companies of both India and foreign origin in 1956.

nationalization was accomplished by the govt. acquisition of the

management of the of the companies. The Life Insurance Corporation of

India was created on 1st September 1956, as a result and has grown to be

the largest insurance company in India.

General Insurance Business (Nationalization) Act, 1972

The General Insurance Business (Nationalization) Act, 1972 was enacted

to nationalizes the 100 odd general insurance companies and

subsequently merging them into four companies. All the companies were

amalgamated into National Insurance, New India Assurance, Oriental

Insurance, United India Insurance which were headquartered in each of

the four metropolitan cities.

Insurance Regulatory and Development Authority (IRDA0 Act, 1999)

Till 199, there weren’t any private insurance companies in the Indian

insurance sector. The Govt. of India, then introduced the Insurance

Regulatory and Development Authority Act in 1999, thereby de-

regulating the insurance sector and allowing private companies into the

insurance. Further, foreign investment was also allowed and capped at

26% holding in the Indian insurance companies.

 Insurance (History)

Insurance in India goes back to the time of the British. The first life

insurance company to operate in India-the Oriental Life Insurance

Company was established in 1818 in Calcutta. It was, however, a British

company. The first India insurance company, the Bombay Mutual Life

Assurance Society started its operations in 1971. In 1956 the Indian life

insurance industry was made up of 154 domestic life insurers, 16 foreign

life insurers and 75 provident funds, and was still governed by the

Insurance Act of 1938. in 1956 all life insurance companies were

nationalized, the story of non-Insurance pioneered general insurance way

back in 1688, the first non-life insurance company of set up shop in India

was the Triton Insurance Company of Calcutta. In 1907, the first Indian

general insurer, the Indian Mercantile Insurance Company Ltd. was

incorporated in 1919, In 1972, the non-life insurance business in the

country was nationalized and the GIC (General Insurance corporation of

India) was formed as a holding company with four subsidiaries: The

national Insurance, Oriental Insurance, United India Insurance and the

New India Assurance Company Ltd. Since then, insurance in India had a
protective wall built around it, to keep it a local players’ market. The

above companies controlled the insurance industry for nearly 30 years.

 Current Insurance Market Structure

General Insurance business in India was under complete control of four

Government insurance companies for nearly there decade. After much

deliberation finally the market was opened for competition from

December 200 and also Government has de-linked four Public sector

companies form holding company GIC to operate as independent

company. In addition to four Public Sector insurance companies the

Insurance Regula-tory and Development Authority (“IRDA”) has issued

licenses to the eight private General Insurance Companies.

Name Shareholding

Bajaj Alliaz General Insurance Co. Ltd. Privately Held

Cholamandalam MS General Insurance Co. Ltd. Privately Held

HDFC Chubb General Insurance Co. Ltd. Privately Held

ICICI Lombard General Insurance Co. Ltd. Privately Held

IFFCO-Tokio General Insurance Co. Ltd. Privately Held

National Insurance Co. Ltd. Public Sector

New India Assurance Co. Ltd. Public Sector

Oriental Insurance Co. Ltd. Public Sector

Reliance General Insurance Co. Ltd. Privately Held

Royal Sundaram Alliance General Insurance Co. Ltd. Privately Held

Tata AIG General Insurance Co. Ltd. Privately Held

United India Insurance Co. Ltd. Public Sector

 The General Insurance Company

The business of general insurance is the monopoly. Of general insurance

corporation of India (GIC) owned by the government of India. This entity

is a single organization with four subsidiaries. GIC was incorporated as a

holding company in 1992 under the general insurance Act, 1972. the

insurance Act. 1938, and general insurance Act,1972. being a fully

owned subsidiary of Gol, the paid-up capital of the GIC is fully

subscribed by the govt, and GIC in turn owns fully, the paid up capital of

its four subsidiaries.

Before nationalization in November 1972, a number of Indian and many

foreign companies did general insurance business in India and this

business was linked with their branches abroad. In addition, this product

was also offered by LIC, some mutual companies and cooperative

societies in fact, on the eve of nationalization, 68 Indian (including LIC)

and 45 non-Indian entities carried out insurance business in India.

Nationalization saw the business of all these organizations absorbed by

the General Insurance company (GIC) with its four subsidiaries viz.,

National Insurance Co. Ltd.

New India Assurance Co. Ltd.

Oriental Fire and General Insurance Co. Ltd.

United India Insurance Co. Ltd.

These subsidiaries carry out the entire general insurance business in the

country and cede 20% of it to GIC through the obligatory reinsurance

premium on a quota share basis. GIC’s direct business is only in the form

of aviation insurance. The general insurance business is mainly of three

types:

Marine,

Fire and,

Miscelleneous.

As of now, fire insurance contributes the largest share in the business,

although its share has been the growth area with health insurance

assuming increasing importance in terms of potential. Marine insurance

is relatively less important in India.

Acknowledging the trend of growth in miscellaneous business, GIC has

recently come out with a host of new policies/plans/schemes. Personal

Accident Policy for Visitors in Bank Premises, Mediclaim,

Householders’ Comprehensive Insurance Policy, Professional Indemnity

Insurance, insurance against liability and contingency for members of

stock exchanges and joint stock companies, Rejection Insurance on

marine products, Nuclear Insurance Pool for insurance of nuclear power

plants and other nuclear related risks, hut insurance, and Personal

Accident Insurance Social Security Scheme are examples of such

policies. GIC has also become active in mutual funds and housing as GIC

has also become active in mutual funds and housing as GIC Mutual

Fund, GIC Grih Vitta Ltd. Floating of Loss Prevention Association of

India Ltd., and the National Insurance Academy are some of the other

long term customer friendly activities.

 Insurance Sector Reforms

The genesis for the insurance sector reforms was formation of Malhotra

Committee in 1993 and submission of its report in 1994, recommending

wide ranging reforms. Reforms in the Insurance sector were initiated

with the passage of the IRDA Bill in parliament in December 1999 which

ushered in the entry of private sector under the guidance and supervision

of a regulatory body, IRDA. Since being set up as an independent

statutory body, IRDA put in a framework of globally compatible

regulations. As at March 2004, eight general insurance companies were

registered in the private sector.

The general insurance players fix the insurance premiums of many

products based on tariffs set by the Tariff Advisory Committee. As the

players gain experience and maturity, there are growing demands for de-

tariffing2, which also enables players to differentiate themselves better.

In 2000-01, the year in which entry of private sector ushered, six new

private sector players, all of them joint ventures with renowned global

players (except Reliance), registered with IRDA and started operations.

Since then, two more private players entered the fray taking the total

number of private players to eight.

The growth in the general insurance business during the above period is

captured in Table 1. The total business in terms of gross premium income

has gone up from Rs. 123.8 billion in 2001-02 to Rs. 157.6 million in 03-

04 (annualized) at a compounded annual growth rate (CAGR) of 15.7 per

cent over the two-yer period. The compounded growth for the public

sector players was an unimpressive 9.3 per cent in the same period. The

EGR for the private players was over 120 Rs. 4.6 billion in 2001-02.

Discussions with the industry executives revealed that all the players

were focused on gaining business from large intuitional customers and

were involved in cut-throat competition to gain market share.

 Growth of General Insurance in India

The general insurance industry witnessed a growth of 16 per cent in

2005-06, mainly on account of the continued robust performance by

private insurers coupled with the better show by public sector players

such as New India Assurance and Oriental Insurance.

In spite of the continuing decline in business of the state-owned National

Insurance, the 12 non-life insurers mopped up Rs. 20,378 crore as

premium during 2005-06 as compared to Rs. 17531 crore collected in

2004-05, according to the data compiled by the Insurance Regulatory and

Development Authority (IRDA).

At the top slot, among the public sector players, was New India

Assurance with a collection of Rs. 4,762 crore in premium, which

continued to lead the non-life sector with a market share of 23.36 per

cent. At the second spot was National Insurance with a market share of

17.29 per cent. Its collection as premium stood at Rs. 3,524 crore,

showing a decline of seven per cent.

Oriental Insurance came third with a mop-up of Rs. 3,518 crores in

premium. At this level, it managed to corner a market share of 1726 per

cent, having achieved a 16.6 per cent growth in business during the year.

The fourth PSU insurer, United India Insurance witnessed a modest

growth of 6.8 per cent in business and accounted for 15.44 per cent of the

market with a premium collection of Rs. 3.147 crore. On the contrary, the

eight private players increased their business by 52 per cent and mopped

up Rs. 5.427 crore in premium income to account for a combined market

share of 26.6 per cent as compared to 20.2 per cent in 2005-05.

Leading the private pack was ICICI Lombard which witnessed a growth

of 80 per cent in premium at Rs. 1.592 crore to account for an individual

market share of 7.81 per cent. Next in line was Bajaj Allianz, which

collected a income of Rs. 1.287 crore to post a growth of 50 per cent and

grab a market share of 6.31 percent.

Iffco-Tokio, however, logged a higher growth of 78 per cent having

mopped up Rs. 896 crore to account for a market share of 4.39 percent,

which Tata-AIG mopped up 30 percent more in premium income at Rs.

612 crore for a market share of three percent.

Among others, Royal Sundaram collection Rs. 453 crore in premium,

followed by Cholamandalam (Rs. 220 crore), HDFC Chubb (Rs. 202

corre) and Reliance General (Rs. 162 Crore).

 General Insurance (Main players-Private)

Royal Sundaram Alliance Insurance Co. Ltd.

Iffco Tokia General Insurance Co. Ltd.

Reliance General Insurace Co. Ltd.

Tata AIG General Insurace Co. Ltd.

Bajaj Alliance General Insurace Co. Ltd.

ICICI Lombard General Insurace Co. Ltd.

Cholamandalam General Insurace Co. Ltd.

HDFC-Chubb General Insurace Co. Ltd.

General Insurance

Fire and Miscellaneous Insurance Businesses are predominant. Motor

Vehicle insurance is compulsory.

 Product Detail of ICICI Lombard
Family Floater Health
Insurance
(All your life you have shared moments of joy, sorrow and

togetherness with your family. Now you can share your

family’s good health too)

 Family Floater Health
Insurance

For the First time in India, Family Floater Health Plan, a single health

insurance cover that takes care of your entire family’s medical expenses

during sudden illness, surgeries and accidents.

• A single policy covers the entire family’s health needs

• Covers expenses towards cost of hospital room/ bed during illness,

surgeries & accidents

• Cashless facility at 3500 network hospitals across 214 cities in

India.

• 5% No –Claim discount on renewal premium policy can be availed

for persons aged between 3 months to 70 years.

• Only policy available in India which you can avail for 2 years.

• ( Normal 1 year policy also available).

• The policy also covers pre-existing diseases if any from 5th

renewal.

Family Floater health Insurance Plan, a single health insurance cover

that takes care of your entire family’s medical expenses during sudden

illness, surgeries and accidents.

A unique plan that floats over all the members of the family, which

means that any member if the family can use it. For example: If the

policy is bought for 3 lacs, the then either all three members of the family

or one members can use till the limit of 3 lacs.

Key Benefits

 up to 2- year cover

We offer you family protection for 2 years at a stretch with no increase in

the premium in the second year. Thus, no renewal hassles next year. You

also have an option for 1- year cover.

 No claim Discount

On renewal of your family floater entitled plan premium, you would

be entitled to a discount equal to 5% of the premium amount, provided no
claim has been made in the previous policy term.

 Cashless Facility

Your family can avail cashless hospitalizations at over the country.

 Income tax Benefit

The premiums payable is eligible for tax benefits as section 80 D of

the income tax act.
 What is Covered

The family floater Coves all your medical expenses incurred during
accidents, illness and hospitalization.

The coverage’s include

 Expenses incurred during hospitalization for more than 24 hours.

 Covers 30 days pre and 60 days post hospitalization expenses as
well as technological surgeries and procedures.
 Incurred on advanced technological surgeries and procedures that
require less than 24 hours of hospitalization.

[pre- existing diseases can be covered after 4 th year * (* conditions

applied)]

Technologically advanced treatments that do not need hospitalization but

are covered under health insurance:

 Dialysis
 Chemotherapy
 Radiotherapy
 Eye surgery
 Kidney stone removal
 Tonsillectomy
 Hydrocele surgery
 Dilatation & curettage
  Other surgeries requiring less than 24 hours of hospitalization due
to advancement in technology

Exclusions

 Any disease/ injury existing before the inception of the policy as

well as congenital disease.
 Any disease contacted during the first 30 days of inception of
policy
 Non- allopathic treatment, pregnancy and childbirth related
diseases,

Cosmetic, aesthetic and obesity diseases treatment.

 Pregnancy & childbirth related diseases

 Expenses arising from HIV, AIDS and related diseases, and
use or misuse of liquor, intoxicating substance or drugs as well
as intentional self-injury.
 War, riot, strike, terrorism acts, nuclear weapon induced
treatment.

[Pre- existing diseases can be covered after 4th year* (* conditions

applied)]

other Exclusions for first 2 years:

 Cataract
 Benigh prostatic Hypertrophy
 Congenital
  Fistula in Anus
 Piles
 Hysterectomy for menorrhagisa or fibromyoma
 Hernia
 Sinusitis and related disorders

Insurance

Be on the fast track, always

4 wheeler
Insurance

2 Wheeler
Insurance
Motor Insurance

The most comprehensive Motor Insurance policy that covers you against

any loss or damage to/ by your vehicle. This policy covers individual

owner of the vehicle in addition, you can also opt personal accident cover

for other unnamed passengers in your car (family members, driver, friend

etc). you can also cover yourself against any legal liability arising to your

paid driver.

Key Benefits

 Voluntary discounts up to Rs. 2500: discount on the premium is

available if you opt for Voluntary deductible option.

 No claim Bonus: If you do not make claim during the policy

period, a no claim bonus (NCB) is offered on renewals. This

discount can go as high as 50%

 Cover your self, your family: your can also opt for a personal

accident cover for other unnamed passengers in your car.

 Customize your insurance with additional covers: electrical and/ or

non – electrical items fitted to the vehicle can be insured

separately.
4 Wheeler Insurance

the most comprehensive Motor Insurance policy online that covers you

against any loss or damage to. By your vehicle.

 A comprehensive cover to protect against any loss/ damage to or

by your vehicle

 Also covers personal accident and third party’s legal liability

 No document. Instant policy issuance

 Online claims intimation and tracking facility

ICICI Lombard brings you a comprehensive package policy, which

covers third party liability(TPL) for bodily injury and/ or death,

personal accident cover for owner- driver and loss or damage to the

vehicle insured( Own damage of OD) while TPL is mandatory under the

motor vehicles Axt, OD is optional.

Few highlights of the policy are:

 Immediate online policy issuance

 Covers towing charges up to Rs. 1, 500

  Cashless claims facility available at over 400 garages all across

India

 Online approval for minor claims though cashless network dealers,

Key Benefits

Voluntary Discounts up to Rs. 2500:

Discount on the premium is available if you opt for voluntary deductible

option.

No claim bonus:

If you do not make a claim during the policy period, a no claim bonus

(NCB) is offered on renewals. This discount can go as high as 50%

Cover yourself, you driver and your family:

You can also opt for a personal accident cover for other unnamed

passengers in your car.

Customize your insurance with additional covers:

Electrical and/ or non- electrical items fitted to the vehicle can be insured

separately.
 What is Covered

Motor insurance is governed by the Indian motor tariff, which is set by

the tariff advisory committee ( TAC) motor insurance covers you for :

1. Loss or damage to your vehicle:

Covers you for any loss or damage to your vehicle or accessories due to:

 Fire, explosion, self ignition or lightning

 Burglary, housebreaking to theft

 Riot and strike

 Earthquake ( fire and shock damage )

 Flood, typhoon, hurricane storm, cyclone, hailstorm, frost

 Accidental external means

 Malicious act

 Terrorist activity

 Goods- in- transit by road, frail, inland- waterway, lift, elevator or

air

 Landslide or rockslide
 2. Personal accident cover:

The motor insurance provides compulsory personal accident cover for

individual owners of the vehicle while driving. You can also opt for a

personal accident cover for passengers.

3. Third party legal liability:

Covers for the legal liability arising due to accidental damages for

 Any permanent injury/ death of a person

 Any damage caused to the property

Sum Insured

Sum insured in a motor vehicle policy operates on the concept of

Insured’s Declared value (IDV). IDV is calculated on the basis of the

present day’s showroom price of the vehicle multiplied by the

depreciation rate that is set by TAC at the commencement of each policy

period

If any electrical and \or electronic items is installed in the vehicle by the

individual, and the amount for the same is not included in the
manufacture’s showroom price, then the value of the item can be added

to the sun insured over and above the IDV.

Exclusions

1.Mechanical breakdown

2.Wear and tear

3.Consequential loss

4.Depreciation.

5. Deliberate accidental loss

6. Intoxicated –driving

7. Policy conditions (area, license etc )

8. Any contractual liability.

9. Being used otherwise than in accordance with limitations as to use.

10. Being driven otherwise than in accordance with driver’s clause.

11. Damages due to nuclear weapons material or war.

2 Wheeler Insurance

2 Wheeler riding calls for a constant alertness form theft and accidents.

You can now be at ease as our 2 wheeler policy guarantees safety for

your vehicle and yourself, thereby making your ride stress- free.

 No documentation. Instant policy issuance

 Effective coverage against theft & accidents

 Guaranteed safety for yourself and your 2 wheeler

 Lightening fast cashiers claims services

Key Benefits

No claim Bonus:

If you do make a claim over a period of time, a no claim bonus (NCB) is

offered on renewals. This discount can go as high as 50%. Transfer your

full benefit of No claim bonus, even when you shift your motor insurance

policy to ICICI Lombard from any other insurance company

-you get additional discounts you are a member of a recognized

automobile association of India.

In case you have instead ARAI approved anti theft device in your

vehicle, you get a discount of 2.5% on the OD premium to a maximum of

Rs. 500.

Cover yourself and your family:

Vehicle insurance provides compulsory personal accident cover fore

individual owners of the vehicle while driving. However, you can also

opt for personal accidents cover for other unnamed passengers in your

car. For E.g. your family relatives, friends etc.

What is covered

 Protection from any loss of damage to your vehicle or accessories

due to: natural calamities like:

 Fire explosion self- ignition or lightning

 Riot and strike

 Earthquake ( fire and shock damage)

 Flood, typhoon, hurricane, storm, tempest, inundation,

cyclone, hailstorm, frost

 Landslide or rockslid
Man- made calamities like:

 Accident by external means

 malicious act

 terrorist activity

 goods- in transit by road, rail inland- waterway, lift, elevator or air

 burglary, housebreaking or theft

 protection from liability towards third parties of personal injury

 A personal accident cover for the owner of the vehicle while he is

driving.

Sum Insured

Sum insured in a two- wheeler policy operates on the concept of

insured’s declared value (IDV). IDV is calculated on the basis of today’

showroom price of the vehicle multiplied by the depreciation rate that is

set by the tariff advisory committee at the commencement at the

commencement to each policy period.

Claims

In Case of an Accident
  Our customer service manager will contact you within 24 hours of

registering the claim.

 Submit the copy of documents to the dealer/ CSM and get verified

with the originals.

 Our CSM will get the estimate for the repair of your vehicle and

give spot approval after assessment.

 After completion of repair at our preferred garage we will make

payment of our share of the loss directly to the garage.

 The insured to pay the excess mentioned in the policy and

depreciation, salvage etc informed by the CSM.

Documents Required

 Duly completed and signed claim form

 A copy of your vehicles R.C. book

 A copy of the driving license of the person driving at the time of

accident

Additional documents Required

For theft claims

  R.T.O. paper duly signed from the local R.T.O. office

 N.O.C. from finance company in case the car is hypothecated

 Letter of indemnity & subrogation from a notary located near a

local court

For third party claims

 M.A.C.T/ Legal notice which would be sent to you by the third

party.

 Stamp required in case of a company- registered vehicle

 Original documents to be produced for verification

Exclusion

 Mechanical breakdown

 Wear and tear

 Consequential loss

 Depreciation

 Deliberate accidental loss

 Intoxicated driving

 Policy conditions ( area, license ctc)

 Any contractual liability

 Being used otherwise than in accordance with limitations as to use

 Being driven otherwise than in accordance with driver’s clause

 Damages due to nuclear weapons material or war

Home Insurance

Home is most treasured asset, one must save it.

Home insurance

A comprehensive coverage on your home and the contents within it

against uncertainties of both natural and man- made calamities like fire,

burglary, gas cylinder explosion, terrorism etc.

 Insure your home against both natural & man- made calamities

 Covers both the structure and contents of your home

 Protection against fire, burglary, gas cylinder explosion, seepage

etc.

 Avail a 25% off on 5-year 15% off on 3 year policy

Structure

This is for the damages that may be caused to the structure (the walls,

roof, etc) of the building. Thus if you home is partly or full damaged,

then the insurance company would pay you to repair/ remake damages to

the structure your home.

content

this is cover is only for damages or loss of the contents inside your

home-
the electronic and electrical goods,

the furniture and fixtures, your personal clothing, jewelry and any other

contents inside your home.

Key Benefits

Discount

Avail discount on buying a home insurance:

• 25% discount on a 5- year cover

• 15% on a 3- year cover

advance payment

in case of a huge claim, you can avail advance payment before the final

claim is settled.

Home loan

Financial institutions prefer to provide home loans to people who have

home insurance, as the safety level of such homes is much higher.

Alternate covers
A home insurance over allows you to avail an optional cover for

alternative rent& terrorism cover.

What is covered

The fire and special perils cover

This is a comprehensive packaged cover that covers damages to the

structure of your home due to

 fire

 storm, tempest, flood & inundation

 Riot, strike & malicious damage

 Lightning

 Explosion & implosion

 Aircraft damage

 Damage due to impact by vehicles

 Damage due to impact by vehicles

 Subsidence, landslides and rockslides

 Bursting and/ for over following of water thanks, apparatus and

pipes
  Missile test ion operation

 Leakage form automatic sprinkler installations

 Bush fire

The extensions that are offered:

Terrorism cover – covers damages to the structure of you

house due to acts of terrorism.

This cover should taken by people who own a house/

bungalow / villa/ row- house of their own. If you own/

rent a flat, this cover can be availed of, but ideally the

society should be taking this cover for the entire

building.

The insurance cover is only for the cost of constructing

the building. And compensation rate will also be given

by the insurance company for the building.

The sum insured is calculated by multiplying your home

area by the construction rate per sq. feet. Thus if your

home is 1000 sq. feet and the construction rate per sq.

feet is Rs. 800/- then the sum insured for your home’s

building structure is Rs. 8,00,000/-

The premium for the same would be the rate per lac

multiplied by the sum insured. The claims amount would

also be calculated in the same manner.

For contents

The Fire and specials perils cover

This is a comprehensive packaged cover that covers

damages to the structure of home due to.

Fire

Storm, tempest, flood & inundation

Riot, strike & malicious damage

Lightning

Explosion & implosion

Aircraft damage

Damage due to impact by vehicles

Subsidence, landslides and rockslides

Bursting and/ or overflowing of water tanks, apparatus

and pipes

Missile testing operation

Leakage from automatic sprinkler installations

Bush fire

Earthquake cover
Covers damages to the structure of your house due to

earthquake

Burglary

Loss/ damage to contents due to burglary on an

attempted burglary

Loss of jewelry, gold ornaments, silver articles and

precious stones kept under lock& key

All the contents are covered on the market value of the

items. The means that if there is a loss the claim would

be paid on the value of purchasing a similar new item,

depreciation.

The limit for the value that jewelry can be covered is

25% of the chosen sum insured or Rs.1 lac, which ever is

lower thus if you have chosen a sum insured of Rs.3 lacs,

the value of jewelry that can be covered is Rs. 75,000/-

and if you have chosen a sum insured of Rs. 6 lacs your

jewelry can be covered only for Rs.1 lac even though

25% of your sum insured comes to Rs. 1.5 lacs.

Exclusion

First 7 days from the date of issuance of the certificate

Properties that are used for non- residential purposes

Buildings that are not “Pukka” constructions.

Properties that are less that 500 feet from the water front,

unless there is an embankment

Properties located in the basement

Buildings/ properties that are more than 50 years old

Loss. Damage and destruction caused by war, wear and

tear, atmospheric condition etc.

Losses if your home has been unoccupied for more that

30 days

Cash, bullion, painting, words of art and antiques.

Breakdown of any content/ building by any other means

then the ones mentioned above.

 Definition

Recruitment is a’ linking function’- joining those with jobs to fill and

those seeking jobs. It is a joining process’ in that it tries to bring together

job seekers and employer with a view to encourage the former to apply

for a job with the latter.

The basic purpose of recruiting is to develop a group of potentially

qualified people. To this end, the organization must communicate the

position in such a way that job seekers respond. To be cost effective, the

recruitment should attract qualified applicants and provide enough

information for unqualified persons to self- select themselves out.

Relationship with other activities

Human resource planning: determines the specific number of jobs that

are to be filed.

Recruitment:- provides a pool of people who are qualified to fill

vacancies.
:-

SITUATIONAL AUDIT FOR RECRUITMANT

Recruitment provides employees, the most productive of all resources, to

an organization. This has two important aspects. The first is to find out

the number of vacancies to be notified and type of applicants needed to

fill them; the second is to appeal to potential to potential applicants

through novel advertising, to apply for such vaccancies. Both the steps

are, thus, closely related to the environment (economic, social,

technological and political) in which the company operates.

The Economic environment

Economic conditions quietly influence the recruitment process in all

organizations the sudden boom in the financial services sector in India,

especially from 1991 onwards, has contributed the growing demand for

MBA/ CA / CFA/ CWA students.

Companies had to resort to extensive advertising ( newspaper ads, media

ads, campus recruitment, search firms, employee referrals, contractors,

etc,) for hiring people with specific fund- management skills in a big

way.
The social environment

Major social changes in the past two decades have caused organizations

to place increased emphasis on recruitment. Modern employees look for

a satisfying career in place of just a job.)

The technological environment

New technologies create new jobs. The existing jobs undergo a rapid

change. As a result, applicants with unusual combination of skill and

knowledge must be found.

The liberalization programme after 1991 brought about rapid changes in

the fields of banking, electronics, telecommunications, automobiles,

software and pharma industries, etc. several old jobs have disappeared

almost suddenly.

The environment

In the late 80s” equal employment opportunity” has become a major

slogan in corporate circles.

Organizations have taken a number of steps to find and attract woman

and minority applicants (e.g., advertisements in related journals; sending

recruitment teams to women’s college run by minority group, etc.)

The legal environment the different legislative policies like.

1 The factories act,1948

2 The apprentices act, 1961.

3The employment exchanges act, 1959.

4 The contract lab our act, 1970.

5 Bonded lab our system (Abolition) Act, 1976.

6 The child lab our Act, 1986.

Sources of recruitment

Internal sources

Personal who are already working in an organization constitute the’

internal sources’. Whenever any vaccancy arises, someone from within

the organization is upgraded, transferred, promoted or even demoted.

External sources

External sources like outside an organization. here the organization can

have the services of:(a) employees working in other organization; (b) job

aspirants registered with employment exchanges; (c) student from

educational institutions; (d) candidates referred by unions, friends,

relatives and existing employees;(e) can dates forwarded by firms and

contractors; (f) candidates responding to the advertisements, issued by

the organization; and (g) unsolicited application /walk-ins

Methods of recruitment

The following are the most commonly used methods of recruiting people.

(a) Internal methods

1. Promotions and transfers

A transfer is a lateral movement within the same grade, from one job

to another. It may lead to changes in duties and responsibilities,

working conditions, etc., but not necessarily salary promotion on, the

other hand, involves movement of employee from a lower level

position to a higher-level position accompanied by (usually) changes

in duties, responsibilities, status and value.

2.Job posting

Job posting is another way of hiring people from within. In this

method, the organization publicizes job opening on bulletin boards,

electron media and similar outlet.

3.Eployee Referrals

Employee referral means using personal contacts to locate job

application. It is a recommendation from a current employee

regarding a job applicant. The logic behind employee referral is that

“it takes one to know one” this has become a popular way of

recruiting people in the highly competitive information technology

industry nowadays.

(b) Direct Methods

1.Campus Recruitment

It is a method of recruiting by visiting and participating in college

campuses and their placement centers. Here the recruiters visit reputed
educational institutions such as IITs, IIMs, college and universities

with a view to pick up job aspirants having requisite technical or

professional skills. A preliminary screening is done within the campus

and the short listed students are then subjected to the remainder of the

selection process. Advantages of this popular include: the placement.

Guidelines for campus recruiting: companies using college campuses

as recruitment source should consider the following guidelines:

• Identify the potential candidates early:

• Employ various means to attract candidates:

• Use effective recruiting material:

• Offer training to competitive interviewers:

• Come out with a competitive offer

(c) Indirect methods

Advertisements these include advertisements in newspapers; trade,

professional and technical journals; radio and television; etc.

The ads generally give a brief outline of the job responsibilities,

compensation package, prospects in the organization, this method is

appropriate when (a) the organization intends to reach a large target

group and (b) the organization wants a fairly good number to talented

people –who are geographically spread out.

Newspapers ads here it’s easy to place job ads without much of a lead

time. It has flexibility in terms of information and can conveniently

target a specific geographic location.

Television and radio ads: These ads more likely to reach individuals

who are not actively seeking employment; they are more likely to

stand out distinctly, they help the organization to target the audience

more selectively and they offer considerable scope for designing ads

creatively, However, these ads are expensive. Also, because the

television or radio is simply seen or heard, potential candidates may

have a tough time remembering the details, making application

difficult.
Private Employment search firms

A search firm is a private employment agency that maintains

computerized lists of qualified applicants and supplies these to

employers willing to here people from list for a fee.

2.Employment Exchanges

As a statutory requirement, companies are also expected to

notify(wherever the Employment Exchanges Act, 1959,applies)

their vacancies through the respective Employment exchanges,

created all over India for helping unemployed youth, displaced

persons, ex –military personnel, physically handicapped, etc.

 3.Gate Hiring and contraction

Gate hiring (where job seekers, generally blue collar

employees, present themselves at the factory gate and offer

their service on a daily basis), hiring through contractors,

recruiting through word –of –mouth publicity are still in use

4. Unsolicited Applicants/walk- ins

companies generally receive unsolicited applications from job seekers at

various points of time the number of such applications depends on

economic conditions, the image of the company and the job seeker’s

perception of the types of jobs of that might be available etc.

 Managing Risk

The ability to identify, quantify and manage risk is intrinsic to

success in the business of insurance. ICICI Lombard’s risk

management approach balances the need to provide cost effective

solutions to our customers while delivering optimal shareholder

returns. Success on both fronts is reflected in the numbers: while the

number of policies sold increased by 2.5 times in fiscal 2004, profits

grew almost ten- fold during the year.

A strong capital base gives an insurer the ability to service large claims in

the event of a catastrophe. This is a key determinant of growth as it

provides comfort to customers in a business that is driven by trust.

Our reinsurance program is formulated in line with the guidelines laid

down by the insurance Regulatory Authority of India (IRDA), which

aims at optimum retention of premium within the country and adequate

risk coverage and diversification. Our choice of reinsurance partners is in

turn determined by their strong reputation. High credit rating and the

alignment of their strengths with our risk management objectives.

Staying ahead in managing risk through

A dedicated risk management team that constantly monitors the risk

exposure by customer, product and region

An indigenously developed Risk Accumulation System that facilitates

online tracking of various risks down to the pin code level in any

geographical location.

IT & Infrastructure

ICICI Lombard has effectively used information Technology to meet

growing customer needs while improving operational efficiency and

profitability. The company’s IT strategy, architecture and successful

employment form the backbone of its business.

Staying ahead in IT infrastructure through

Online Manager. A web- based interface that allows a customer to buy,

endorse and renew policy online. Claims intimation and tracking also

forms part of the interface.

Using SMS technology to deliver timely alerts and reminders to keep

customer informed of various transactions

Using intranet effectively to enhance employee productivity and simplify

human resource functions

A state-of –the art data center with robust connectivity and support

highes security level offered through 128 - bit encryption in case of

online data exchange.

The only company to provide digitally signed documents through the

online interface.

Distribution Reach

ICICI Lombard general Insurance Company’s endeavor is becomes

India’s preferred provider of the entire array of financial products and

services. The company has built a robust franchise network in association

with its joint venture partners to expand coverage. The company

presently has 103 offices across India manned by over 1,200 employees.

It believes in targeting customers through multi- channel route including

direct sales, agents, brokers, banc assurance, alternate channels and the

Internet. Thus the customers have number of channels to choose from.

 Human Resource

ICICI Lombard believes in a progressive human resource philosophy that

turns human capital into a key source of competitive advantage. The

capability and motivation level of employees is a key determinant in

success of any service- oriented organization. Our employee strength is

over 1,200.

Partnerships

Effective partnerships and alliances form an integral part of the

company’s strategy. ICICI Lombard believes that a leveraged distribution

model via partnerships and alliances will be a key driver of its growth in

future. Partnership driven alliances model allows the company to cash-in

on the partner’s customer network so that the customer gets a packaged

offering of products.

Staying ahead in partnership through Bancassurance tie-ups

ICICI Bank

ABN Amro Bank

American Express

Centurian

Product Innovation

Product innovation is key to business growth. ICICI Lombard believes in

challenging existing product assumptions and targeting new product-

market segments. This has helped the company in customer acquisition

and retention as well in increasing category penetration.

The company has launched a slew of products and has emerged as a

major player in the corporate and retail segment driven by a will-

balanced portfolio.

Staying ahead in product innovation through.

During the year 2004: the company in coordination with the world Bank

launched weather insurance.

The company’s overseas travel insurance is the only product in the

market that offers premium calculation on a pay- per-day basis as against

paying premium on a slab- wise basis

A unique Senior Citizen Overseas Travel Insurance plan to cover senior

citizens up to the age of 85 years was launched by the company during

the year 2004. It is the only policy of its kind in the market.

Loan Care- a first of its kind product to be launched in India- protecting

the lender from borrower default on account of death, permanent

disability, loss of job and loss pay due to critical illness

CUSTOMER SERVICE

Insurance is a service- specific industry.

Customer service is one of the key areas of focus for ICICI Lombard.

The company has built high levels of customer loyalty and advocacy in

relatively short period of time.

Staying ahead in customer service through

• Dedicated relationship managers for managers for both sales and

customer service

• Insurance portfolio analyses and risk advisory services

• Cashless claims service through a pan India net work of garages

and
Product Range

Business solutions

• Burglary insurance

• Industrial All Risk

• All Risk Insurance

• Consequential Loss (Fire) insurance

• Electronic Equipment Insurance

• Fidelity insurance

• Fire and Special perils

• Marine export import

• Machinery

• Inland Transit Insurance

Project Solutions

• Contractor’s all risk

• Contractor’s plant

• Erection All Risk

• Performance Guarantee
 Liability Solutions

• Director’s & Officers Liability

• Event Insurance

• Product Liability

• Public Liability

• Workmen’s Compensation

• Professional Indemnity

Export Solutions

• Export Import Transit

• Export Credit

Rural Solutions

• Weather Insurance

• Personal Accident

• Tractor

• Farmer’s Package

Personal Solutions
 • Health Insurance

• Personal Accident

• Group Personal Accident

• Group Health

Travel Insurance

• Domestic Travel

• Student Overseas Travel

Motor Insurance

• Two Wheeler

• Four Wheeler

Claim Settlement

Lightning- fast claim settlement is one of the key areas of focus for ICICI

Lombard. Our dedicated relationship managers, wide spread network

across India and presence of 2407 call centers assure our customers that

we are always on call, day or night.

Rural Initiative .
ICICI Lombard believes in striking the right balance between the

commercial and socio- economic aspects to meet the requirement of the

rural population, explore business opportunities in the related segments

and build a competitive edge through strong distribution network and

product innovation, ICICI Lombard uses intermediaries like ICICI

Banks kiosks, direct selling agents, state- level tie- ups ITC’s e-choupals,

NGO’ s and other micro- finance institutions (MFls.)

The rural segment offers immense business opportunities for insurers

since it constitutes 50% of the GDP. Growing per capita and disposable

income and fising financial awareness among rural masses has opened up

new avenues for insurence in this segment .

Corporate Business

ICICI Lombard via its CSG segment aims to tap large corporate with

high premium potential. The company has emerged as a major player in

the corporate segment with a well- balanced portfolio. It has made forays

into specialized products that require complex product development and

strong underwriting skills. In addition a strong distribution has enabled it

to reach out to over 3,000 corporate . it also offers single point contact
through dedicated relationship managers for both sales and customer

service.

Retail ICICI Lombard aims to tap retail segment through multi- product

and multi. Channel approach to marketing. The company believes that

retail segment has immense potential and will drive the company’s

growth in future. It has presence in all retail categories travel health home

and motor. It has launched a number of innovative products and features

in each category like pay –per- day in overseas travel insurance and

floater cover for individual health insurance the key to success in this

area is effective market segmentation and targeted product offerings that

meet customer needs.

Reinsurance

Reinsurance is one of the major risk and capital management tools

available to insurance companies ICICI Lombard believes in using

reinsurance as an effective toll to provide protection for a wide range of

risks- including large and complex risks. The company has entered in re-

insurance large with leading re- insures including Munich Re, Swiss Re

and general insurance corporation to provide highest level of risk

security. The company’s reinsurance program is formulated in line with

the guidelines laid down by the insurance regulatory development

authority (IRDA), which aims at optimum retention of premium within

the country and adequate risk coverage and diversification. It’s

philo9sophy is to cash in on the reinsures expertise and services in wide

amount of areas viz. product development, pricing, underwriting and

claims management.

Online:

ICICI Lombard has developed a web- based system to meet all the pre-

and post- policy transaction and MIS needs of its customer . the online

initiative supports online policy sales, which is directly linked to our

payment gateway server for online payments the company uses the web

integration process with its channel partners to streamline its sales

process, increase revenues and reduce costs, delays and buyer

dissatisfaction.

Tele sales:

Telesales channel is being used effectively by ICICI Lombard to sell,

various products to the customer. It is specially suited to shorten sales

cycle. Increase revenues and profitability the channel taps customer

through directs sales, institutional and relationship sales, transactional

sales, segment/ account sprcific targeted sales, event- based activities,

ongoing communication to build trust and generate repeat purchase and

tele- servicing.
 STUDY PROFILE

RESEARCH STUDY :

PLACE OF STUDY :Delhi

SAMPLE UNIT :240 units

SAMPLE SIZE : 160 Customers

80 Employees

SAMPLE PROCEDURE : Random sampling Cluster

Sampling Convenient

TOOLS & TECHNOQUES : Questionnaire

TYPES OF RESEARCH : Descriptive Research

RESEARCH DURATION : 2 months (15 June –14 August)

 RESEARCH METHODOLOGY

Research Methodology is a way to systematically solve the research

problem Research Methodology not only talk to research methods but

also consider the logic behind the methods we use in context of our

research study and explain why we are using a particular method or

technique and why we are not using others. I used Sampling

Technique for finding out facts from the raw data of customer’s and

employees ‘ of bank (s) .

SAMPLE : Sampling is simply the process of learning about population

on the basis of sample drawn from it. Under this method a small group of

the universe is taken as the representative of the whole mass and the

result are drawn. It is a method to make social investigation practicable

and easy.

“ A statical sample is a miniature picture of cross- section of the entire

group or aggregate from which the sample is taken. A sample is the

reflection of the universe and bears all the characteristics of the

universe.”
I have taken, total 200 sample units from the Delhi’s population

• 160 customers

• 80 employees
 CLUSTER SAMPLING:

Under this method the total population is divided into some recognizable

sub- division which is termed as cluster and a simple random sample of

these clusters is drawn and then the survey of each and every unit in the

selected cluster is made.

Principle of cluster sampling:

The principal that are basic to the cluster sampling method are:

• Cluster should be a sample as possible with the cost and limitation

of the survey.

• The number of sample units in each cluster should be

approximately same.
 Details of Cluster sampling for the project

Customers

Age NO.of sample

25-35 - 40

35-45 - 40

45-55 - 40

55 above - 40

Employees No of sample

Age

25-35 - 70

35-45 - 30

45-55 - 15

55 above -5

Area of survey: DELHI

ICICI Lombard(GIC)

5th floorBirla tower

Cannaught place

New Delhi
 Facts About Delhi

* Total population - 160.47 lakh.

( As per the survey of 2003-2004)

# Male -72,77,422

# Female -60,20, 578

( As per the survey of 1999-2000)

* Sex Ratio - 1000:827

( In the year 1991)

LITERACY RATE:

Survey 2001:

Total Literacy Rate - 65.6%

Male Literacy Rate - 76.31%

Female Literacy Rate - 547.12%

 SWOT ANALYSIS

• S STRENGTHS

• W WEEKNESS

• O OPPORTUNITY

• T THREATS
 STRENGTHS

• ICICI LOMBARD is the largest player in the insurance industry

(private sector) in India.

• It is the largest Financial Institution in India.

• ICICI Bank is the largest private sector bank in India.

• Lombard is the oldest property and casualty insurance companies

in Canada.

• ICICI was the first company to be listed on NYSE.

• ICICI was the first company to pierce the sovereign ration given

by moody.

• ICICI enjoy the highest AAA Credit rating, which ensures highest

safety of money.

• ICICI has been awarded the best presented Accounts award by

ICAl.

• ICICI bank has won the award of 2001 best retail bank for India

by the’ Asian Banker’ the region’s leading research and

intelligence publisher on the financial services industry last three

years.
 WEEKNESS

• Some employees and customers are not satisfied with the workeing

environment of icici Lombard

• Only few branches all over India .

• High period insurance duration.

• High premium.

• Low awareness of the ICICI Lombard in rural area.

OPPORTUNITY
• Huge opportunity due to growing business.

• ICICI Lombard first implemented Floater Health Program.

• This company to pureed on line Intorwaleot about result

• Due to increase in business The recruitment is at it’s high scale.

• Better salary as compare to other companies.

• ICICI Lombard gives opportunity to candidates to grow in her

market field.
 THREATS

• Tough competition from reliance Insurance

• Tough competition from private companies like:- HDFC,

Bajaj Allianz, Chola Mandalam Reliance ABN Amro.

• Current ICICI Lombard is the No. One private player and the

major threats are to sustain the position.

• Attritation rate is very high due to poaching through other

companies.

.
Part-3
MARKET SHARE OF ICICI LOMBARD
Findings:-

It can be observed that a large share of market for general insurance is

occupied by the government sector units i.e. New India insurance,

National Insurance etc. only a small share of market is under private

sector are ICICI Lombard and BajaJ allianz .ICICI

Lombard is the fastest growing private general insurance company

In India Currently it has over 3,00,000 satisfied customers, they

Have customer care centers in 155 cities with 28000 Insurance

Consultant providing the finest customer service. One of India’s

Leading private life insurance companies and is only having 3.16%

Share of total market. As ICICI Lombard General Insurance

Company offers technical excellence in all areas of General and

Health Insurance as well as Risk Management it led to make

Customer base which helps company to gain market share

The Nationalized General Insurers (National, New India, Oriental,

United India and GIC) continue to Write business, but now do so

Alongside private players. The sector was thrown open for private

Participation by Government of India, amidst a series of opposition

S. There is no doubt at all that the government monopoly over

The insurance business had to end.

Equal Employment Opportunity Policy

It is our policy at ICICI Lombard to be an Equal Opportunity Employer.

The objective of the Company is to recruit, hire, train and promote into

all job levels the most qualified applicants without regard to marital

status, gender, religion, belief, political opinion,

Recruitment

Approvals

Prior approval shall be obtained from Functional Head before starting

any hiring process for any vacancies on account of:

a) Replacements

b) New Hires- where persons are required to fill a new position or

persons who are an addition to the existing approved headcount.

The approval of the Functional head shall be obtained on the Manpower

Requisition Form (available on the intranet) before the formal process of

New hires is initiated for any new position. Any hiring which happens

without prior approval would require to be immediately ratified by the

functional head on the Manpower Requisition form. This should be

accompanied with proper job description (describing the purpose and the
role of the job) as well as the person specification (describing the kind of

person- qualification, experience, skill sets, personality attributes etc).

Process

Any permanent position to be filled in must be budgeted & must have

Managing director& functional head approval before hiring.

After defining the hob specifications and the skill& experience

requirements (through a Manpower Requisition For) it shall be decided

whether the position should be internally sourced before going for

external recruitment.

In case of selection process involving internal candidates, human

Resource shall act as a coordinator, so that all issues related to transfer,

release etc. between two departments are resolved satisfactorily.

In the event of a decision to go for an external source, human Resource

shall be the coordinating point with external agencies. This is to ensure

uniform & consistent communication of all recruitment matters.

Human Resource shall also be responsible for establishing contracts

related to fee structure & processes etc. with the external search firms.
Personal Records

The official personal file is a file established for each employee and shall

be maintained by the human Resources Department. Only information

that is both relevant and necessary shall be kept in employee’s official

personal file.

• Leave application forms

• Performance appraisal forms

• Salary increment letters

• A copy of other related documents i.e. identity document,

nomination beneficiary forms, marriage certificate, birth

certificates etc.

Temporary staff

The use of temporary staff will only be permitted under certain specific

circumstances and in all instances must be discussed and approved by the

Human Resources department.

Induction 0f New Employees

To ensure that new employees are extended a warm welcome and they

are to quickly familiarize themselves with company operations all new

employees shall be put through an induction program. Human Resources

shall be responsible for conducting such programs.

The Human Resource and Administration department shall ensure that

all- necessary supplies( work station supplies, card, business cards, etc.)

are provided well in time to the employee.

Probationary period

Generally, employment is subject to a six- month probationary period.

For fresh trainees probation period is one year. An individual employee’s

will be confirmed on successful completion of the probation period. The

probation period can also be extended .

 Data of recruitment process during the period of 15-

3-06 to 14-7-06 (4 Months)

Total number of interview taken by company – 79

Total number of candidates – 1493

Total number of candidates selected – 368

Total number of candidates joined – 235

Total number of hold candidates 4

Total number of candidates decline – 85

Offer to be made – 20

To be joined – 23
 J o in e d
5% 6%
H o ld C a n d id a t e s
23%
D e c lin e
65% O ffe r t o b e M a d e
1%
T o b e J o in e d
 Bibliography

Websites:

1. www.irdaindia.org.

2. www.icicilombard.com

Books:

1. Aswathappa - Human Resource Management (Tata McGraw-Hill)

– HR and PM, 2003, 3rd ed.

2. V.S.P. Rao – Managing Human Resources (Pearson Education, 3rd

edition)

Magazines & Journals:

1. Business Today
2. Insurance Times

Newspaper:

1. Business India
2. Economic Times