ICFAI NATIONAL COLLEGE

Summer Internship Program 2008

: Interim report:

ON

: Executive training:

SUBMITTED TO: SUBMITTED BY:

Mr. Veelu Bhargava Aditya Sharma

6ND11700
 SIP DETAIL

Company name: - ICICI PRUDENTIAL LIFE INSURANCE

Sip centre :- Jaipur

Name of faculty guide: - Mr. Veelu Bhargava

Name of company guide: - Mr. Vijay Soni

Enroll no. : - 6ND11700

Date : - 17 May 2007

 COMPANY PROFILE
ICICI Prudential Life Insurance Company is a joint venture
between ICICI Bank - one of India's foremost financial services
companies-and Prudential plc - a leading international financial
services group headquartered in the United Kingdom. Total capital
infusion stands at Rs. 37.72 billion, with ICICI Bank holding a
stake of 74% and Prudential plc holding 26%.

We began our operations in December 2000 after receiving

approval from Insurance Regulatory Development Authority
(IRDA). Today, our nation-wide team comprises of over 954
branches in addition to 1,015 micro-offices, over 296,000 advisors;
and 21 bancassurance partners.

ICICI Prudential was the first life insurer in India to receive a

National Insurer Financial Strength rating of AAA (Ind) from Fitch
ratings. For three years in a row, ICICI Prudential has been voted
as India's Most Trusted Private Life Insurer, by The Economic Times
- AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we
grow our distribution, product range and customer base, we
continue to tirelessly uphold our commitment to deliver world-class
financial solutions to customers all over India.
 OBJECTIVE OF EXECUTING TRAINING

In executive training we are required to undertake on-the-job assignments

along with the day to day function of the company, both at the assistance
and the execution level. This will help us to gain a deeper understanding
of the work, culture, deadlines, pressure etc. of a organization.

In ICICI Prudential. My target is to give policies & make Advisors on a

weekly basis.

In this field our objectives is also getting knowledge about Competitor

Company that how those companies dealing in the market. And how a
employee works in how much pressure in these companies. And how
employee fulfills a company’s expectations which a company want from
them.

Executing training will give direct exposure to execution and support

function of the department; it gives a flavor of team work, organization
culture, team dynamics, and result orientation, organization pressure,
complexities in achieving the desired results.
 TARGET / TASKS

ICICI PRUDENTIAL. Given me following targets:-

1. To complete my OYM (On Your Mark) target in one month.

2. OYM means Rs 40000/- business in a month.

.
3. From next month make Advisors.

4. Taking the knowledge about competitor company’s strategies.

 STRATEGY

Strategies considering by company to attract the Advisors:-

1. Joining with India’s no.1 private life insurance co.

2. 0 Rs. Balance life time saving a/c in ICICI Bank.
3. Better terminal facility
4. Good training environment.
5. Career Development program.

Strategies applied for making new customers for policies and searching for
new market:-

1 Data collection from sources like canopies, cold calling, ATM, company guide,
and any other references.
2. Tele Calling and Reminder calls on data collected number.
3. Meeting with customers by face to face.
4. Converting the new customer for Insurance policies in our company by
Convince him.
 ACHIEVEMENTS

My sip is started in march, 2008 and now 8 weeks have been completed
and it’s the time for analysis of achievements.

1. In first and second week I got product knowledge from our company
guide.

2. In third and fourth week I learnt that how to talk and how to convince a
new customer by face to face. In these weeks I login 2 policies and
visited to some corporate groups.

3. In fifth and sixth week I gave 5 FSP forms and visited to corporate
groups. And in sixth week I prepaid a questioner for convince
the customers.

4. In 7th and 8th I am comfortable enough with the product to explain to the
costumer.

5. In 8 weeks I got knowledge about my as well as competitor companies.

 LIMITATIONS
Some of the Limitations are briefed here that I have faced to sell the Insurance in
the market: -

1. People only want to listen to there known person.

2. This sector is mostly based on relationship.

3 There is much difference between Traditional products & ULIP products.

4 . Many people don’t like to have Insurance rather then TAX saving.

5 No one want to give 1000/- as an Advisor registration charges.

 CONCLUSION
After 8 weeks sip I took a conclusion that I have got knowledge about Insurance
market and took experience of corporate culture. Now at this stage I can say
that I am ready to perform better in remaining weeks.

For ICICI Prudential. I have conclusions for better performance in the market.
1. As many other companies are growing in this sector day by day, so ICICIpru
should have some more flexibility in it’s products.

2. ICICI PRUDENTIAL should take feedback from the existing customers

regularly.

3. Advisors should be given more benefits such as good Incentives, profit in

companies policies etc.

THANK YOU