Fyp India Infoline Icici Prudencial Private Life

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A PROJECT REPORT ON INDIA INFOLINE (ICICI PRUDENCIAL)
IN PRIVATE LIFE INSURANCE SECTOR AT INDIA INFOLINE.COM, JHANSI SUBMITTED TO UNIVERSITY OF PUNE IN PARTIAL FULFILLMENT OF THE DEGREE OF MASTER OF MARKETING MANAGEMENT (MMM) SUBMITTED BY SHWETANK SHARMA (BATCH 2006-2008)
VISHWAKARMA INSTETUTE OF MANAGMENT S. No. 3&4,Kondhawa Budrak, Pune.4110048
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CERTIFICATE
TO WHOMSOEVER IT MAY CONCERN
This is to certify that this project titled Market Potential Of INDIA INFOLINE (ICICI PRUDENCIAL) In Private Life Insurance Sector at, Jhansi is a bonafide work carried By Mr. Shwetank Sharma student of MMM of Vishwkarma Institute of management, Pune in the partial fulfillment for the degree of Master of Marketing Management, S. No. 3&4, Kondhawa Budrak,
Pune University of Pune.He has worked under our Guidance and Direction. His work is found to
be good and complete in all respect.
Prof. Sharad Jhoshi (Director)
ACKNOWLEDGEMENT
All oneself whether it is big or small can undertake no study. Behind this project too is Guidance of those individual people to whom I will be always grateful. I express my deep sense of gratitude to India infoline Group for giving me the Opportunity of doing this project in their well renowned organization which otherwise would not have been easy. I am deeply indebted to Mr. Subham Singh, Sales Manager in India infoline Life Insurance who selected me as a trainee to work with him and guided me throughout the Project. I am grateful and would like to express sincere thanks to my project guide for their valuable suggestion and guidance throughout this project. This tremendously helped me in execution of the entire Project.
Mr. Shwetank Sharma (MMM 2006-2007)
CONTENTS
Sr.No 01. 02 03. 04 05. 06 07. 08. TITLE Executive Summary Objective & Scope Introduction Industry profile Company Profile Products Research Methodology Data Analysis And Interpretation Observation Findings And limitation Recommendation Conclusion Bibliography Annexure PAGE NO. 6 8 9 11 14 20 21
29 42 45 47 49 50 52
09 10. 11. 12. 13. 14.
EXECUTIVE SUMMARY
The Indian Financial Sector is one of the sunrise sectors, which holds great future for Country. If nurtured carefully it has the potential to put India on the world map as a hub of global financial activities. Though India s large insurance market is captured by LIC, But in the recent flow of privatization India infoline insurance services ltd is also Acquiring trust in people. Project involved a blend of marketing where we have to interact with all Kinds of Customers such as retailers, wholesalers, real estate agents, builder & other service group to gather information on site and tell them what are the new opportunities and benefits With India I Life Insurance if they insured with India infoline group. The main task of Project involved carrying the fieldwork where we supposed to visit all kind of retail Outlets as well as non-retail business in major localities. The first half of my project Involved in India infoline is to carry the field work along with campaigning in different Localities in Pune region. Data collected from fieldwork were submitted to the company for future requirements and also to get back to the customers. The study undertaken for Two months. As I have to target specifically to retailers and whole sellers who form the Majority portion of the total market. We were given more than one month for the Collection of data and scanning of data. This report shows detail work on following areas - Sipri Bajar - Station Road - Sarafa Bajar Road - Vijay Chowk Area - Dr/Ashok Memorial Garden Road
For this purpose Feedback form was prepared which gave a broader Picture of the Potential customers about their existence investment segments. The form shows details regarding current savings and planning for their future events. Through this form we got to know what people think about private
insurance Sector and Get the idea about different flows in the insurance sector because it has seen that during Interview few people had an idea about private players in the insurance sector and their Developments. The questionnaire contains various aspects like profession, education, Current savings, number of dependants, address Etc.
OBJECTIVE:-
The objective of the project is Market Research & Find out the Market Potential for India Info line in Private Life Insurance Sector. For this we have to understand consumer Response, time frame, personality constraints and emotions for assessing the potential of Private insurance sector. So specifically the project target is to focus of the high network Income groups and retailers for their investment portion. It also contains scanning the Market thought form/questionnaire making proper evaluation of given information and Going back to them showing how they need to plan their future and the direction to Achieve their desired goals.
SCOPE:-
The study of potential of insurance business is concerned with market Study i.e. research and fieldwork. This study is going to help the India Infoline Life Insurance to find out Market potential with other private companies. The study will help the company to assess their performance and improve it where it is
lacking. Research work is a basic function carried out by each organization. The study of Market potential of insurance is very helpful to find out who are the market leaders in Private companies as well as overall analysis. Availability of time was also taken into Account while deciding the particular method to meet the objectives. The entire study Programmed was for the period of 45 days. The subject of the study was selected by Looking the necessity and importance to find the market potential and give suggestions related to the topic
INTRODUCTION
Wherever there is uncertainty there is risk. The risk cannot be averted. The risk is Uncertainty of the financial loss. We don t have any command on uncertainties. This makes it essential that we think in favor of a device that becomes instrumental in Spreading the loss. It is in this context that we think about insurance. Protection against The possible chances of generating uncertain losses. It eliminates worries and miseries of Losses or destruction of property and death. Life insurance is a contract between the Insurer and a life insurance company, which provides insurer a predetermined amount in Case of his death, Accidents or any uncertain events during the contract term. Buying insurance is extremely useful if one is the principle-earning member in the family and unfortunate premature demise, his family can remain financially secured because of the life that he have purchased. The primary purpose of life insurance is therefore protection of the Family for uncertain events for future. Life insurance is also seen as a tool to plan effectively for the future years, insurer s retirement, education of the children and their Future needs. Today, market offers insurance plans that not just cover insurer and his Family but at the same time it helps to grow his wealth too. Life wasn t designed to be Risk Free. The key is not to eliminate risk, but to estimate it accurately and manage it wisely. Insurance sector has a great Importance in the developing economy like India as it gives Boost to the growth of economy. As it is becoming biggest investor in long gestation Infrastructure development projects at macro level and generating saving habits in the Individuals at micro level. The annual growth rate is of 15-20% and the largest number of Life insurance policies in force, the potential of the Indian insurance industry is huge.
Introduction to the topic:-
The main purpose of the project is basically to find the market potential for India infoline Insurance services sector Jhansi. It included extensive market surveys and meetings mainly with the retailers, whole sellers, builder and other merchants from different Regions of Jhansi. The project is divided in two parts, for the first half is contains period Of 30 days in which I done research, surveys and meetings with the people to collect Data. In the later part I met various retailer, whole sellers, real estate agents, stockiest and few others to promote and make them aware about the company. The survey also helped to provide details regarding various opportunities and different Plans and policies that are coming up in the company. This was useful information for them to get the benefits and to know future growth prospects if they join with the Company.
Importance of the topic
The topic gives broader picture about who is the market leader among all the insurance Providers. The study is all about finding out the market potential of India infoline Insurance service sector for the Jhansi region. India infoline group recently launched India infoline Insurance services along with old mutual plc. as join venture. There are already 13 private insurance companies in the Indian market & what is the present position of India infoline insurance services could be determined by market research and fieldwork. This data will be helpful to determine what the problems are & competitions India infoline is facing in the market, how people perceive India infoline services group as life Insurance providers.
INDUSTRY PROFILE: - INSURANCE SECTOR REFORMS:1) Structure: Government stake in the insurance companies to be brought down to 50%. 2) Competition: Private companies with a minimum paid up capital of Rs. 1billion should be allowed to enter the industry. No company should deal in both Life and General Insurance though a single entity. Foreign companies may be allowed to enter the Industry in collection with the domestic companies. Postal Life Insurance Should Be allowed operating in the rural market. Only One State Life Insurance Company Should be allowed to operate in each state. 3) Regulatory Body: - The Insurance Act should be changed - An Insurance Regulatory body should be set up - Controller of Insurance (Currently a part from the Finance Ministry) Should be made independent. 4) Investments: Mandatory Investment of LIC Life Fund in government securities to be Reduced from 75% to 50%. 5) Customer service: LIC should pay interest on delays in payments beyond 30 days. Insurance Companies must be encouraged to set up unit linked pension plans. Computerization of Operations and updating of technology to be carried out in the insurance industry. The Committee emphasized that in order to improve the customer services and increase the Coverage of the insurance; industry should be opened up to competition.
ENTRANCE OF PRIVATE COMPANIES IN INSURANCE SECTORS:-
Insurance sector is seeing a strong growth in terms of penetration, life insurance to Premium to GDP has grown from 1.8 percent to 2.3 percent while the per capita premium Paid has more than doubled from Rs 280 to Rs 600.Despite the fact that India boosts a Saving rat of around 25 percent, less than 5 percent is spent on insurance. The insurance Landscape in India is undergoing major changes. Close to foreign competition since Nationalization in 1956, the life insurance industry had been protected from competitive pressures. Now with the re-opening of the sector, several new players have entered the scene. Besides, India infoline Insurance services ltd there is 13 other private players working in
Insurance sector which are as follows. 1) AMP Sanmar Assurance Company Ltd. Indian Promoter Reliance Group Foreign Insurer None
2). AVIVA Life Insurance Company Ltd. Indian Promoter DABUR Foreign Insurer AVIVA, UK
3). BAJAJ Allainz Life Insurance Company Ltd. Indian Promoter BAJAJ Auto. Foreign Insurer ALLIANZ, Germany
4). BIRLA Sun Life Insurance Company. Indian Promoter ADITYA BIRLA Group
Foreign Insurer SUN LIFE, Canada
5). HDFC Standard Life Insurance Company. Indian Promoter- HDFC Foreign Insurer Standard Life, UK
6). ICICI Prudential Life Insurance Indian Promoter ICICI Bank Foreign Insurer Prudential, UK 7). KOTAK MAHINDRA OLD MUTUAL Life Insurance Indian Promoter- KOTAK Bank Foreign Insurer- OLD MUTUAL, South Africa.
8) Max New York Life Insurance Company Indian Promoter MAX India Foreign Insurer NEW YORK LIFE, US
9). MET LIFE Insurance Company Indian Promoter J & K Bank Foreign Insurer MET LIFE, US 10). SAHARA Life Insurance Company Ltd Indian Promoter SAHARA INDIA Ltd. Foreign Insurer NONE 11). SBI Life Insurance Indian Promoter SBI
Foreign Insurer CARDIFF, France 12). TATA AIG Indian Promoter TATA Group Foreign Insurer AIG, US
13). ING Vysya life insurance co. ltd.
COMPANY PROFILE ABOUT INDIA INFOLINE GROUP

We are a one-stop financial service shop, most respected in quality of its advice, personalized services and cutting edge technology. India infoline ltd is listed on both the leading stock exchanges in India, Vis. The stock Exchange, Mumbai (BSE) and national stock exchange (NSE). The India infoline group, comprising the holding company, India infoline Ltd and its subsidiaries, straddles the Entire financial services space with offerings ranging from Equity research, Equity and Derivatives trading, Portfolio management services, Mutual funds, Life insurance, Fixed Deposits, Gol bonds and other small saving one of India's leading financial
institutions was born in 1995 as India infoline.com. This company was promoted by Mr.Nirmal Jain .It's been a steady and confident journey to growth and success. India infoline is one of Indias leading financial institutions, offering complete financial solutions that encompass every sphere of life. From stock broking, to mutual funds, to life insurance, to investment Banking, the group caters to the financial needs of individuals and corporate. The group has a net worth of over Rs. 2,840 crore, employs around 20000 people in its various businesses and has a distribution network of branches, franchisees, representative Offices and satellite offices across 264 cities and towns in India. Company is also listed In NSE/BSE.
JOURNEY OF INDIA INFOLINE.COM

The India infoline group was born in 1995 as India infoline.com .this Company. India infoline Ltd is listed on both the leading stock exchange in India, The stock Exchange, Mumbai(BSE) and the National Stock Exchange(NSE).The India infoline group comprising the holding company, India Infoline Ltd and its subsidiaries, Straddles the Entire financial services space with offerings ranging ranging form Equity research , India Infoline Ltd.,being a listed ,is regulated by SEBI (Securities and exchange Board Of India).It undertakes equities research which acknowledgement by none other than forbes as Best Of the web and a must read for investors in Asia. India infoline, s research is available not just over the internet but also on international wire services like Bloomberg (code: ill), Thomson first call and internet securities where it is amongst the most read Indian brokers. Its various subsidiaries are in different lines of business and hence are governed by different regulators .the subsidiaries of India infoline ltd are:-
INDIA INFOLINE SECURITIES PVT LTD:-
India infoline securities pvt ltd is a 100 % subsidiary of India infoline ltd.which is engaged in the businesses of equities broking and portfolio management services. It holds memberships of both the leading stock exchanges of India viz. the Stock Exchange, Mumbai (NSE).It offers broking services in the cash and derivatives segments of the NSE as well as the cash segment of the BSE.
INDIA INFOLINE COMMODITIES PVT LTD:India infoline commodities Pvt. Ltd is a 100% subsidiary of India infoline ltd., which is engaged in the business of commodities broking. Our experience in securities broking empowered us with the requisites skills and technologies to allow us offer commodities broking as a contra-cyclical alternative to equities broking. We enjoy membership with the MCX and NCDEX, two leading Indian commodities exchanges, and recently acquired membership of DGCX. We have a multichannel delivery model, making it among the select few to online as well as offline trading facilities.
INDIA INFOLINE DISTRIBUTION CO LTD (IILD):India infoline.com Distribution co ltd is a 100% subsidiary of India infoline ltd and is engaged in the business of distribution of mutual funds, IPO,s Fixed deposits and other small savings products. It is one of the largest vendor-independent distribution houses and has a wide panIndia footprint of over 232 branches coupled with a huge number of feet-on-street, which help source and service customers across the length and breath of India.
INDIA INFOLINE INSURANCE SERVICES LTD:India infoline insurance services ltd. Is also a 100% subsidiary of India infoline ltd and is registered corporate agent with the insurance regulatory and development throaty (IRDA). It is the largest corporate agent for ICICI prudential life insurance co ltd. Which is Indias largest private life insurance comapny? INDIA INFOLINE INVESTMENT SERVICES LTD:India infoline service ltd is also a 100 % subsidiary of India infoline ltd. It has an NBFC licensee from the Reserve Bank Of India(RBI) and margin-funding facility to the broking customers.
INDIA INFOLINE INSUARANCE BROKERS LTD :India infoline insurance Brokers ltd. Is a 100% subsidiary of India infoline ltd and is newly formed subsidiary which will carry out the business of insurance broking. We have applied to IRDA for the insurance for the broking license and the clearance for the same is awaited.
GROUP MANAGEMENT
Mr. Nirmal Jain - Executive vice chairman & managing director Mr. Nirmal Jain Nirmal Jain is the founder and Chairman of India Infoline Ltd. He holds an MBA degree fro IIM Ahmedabad, and is a Chartered Accountant (All India Rank 2) and a Cost Accountant. He has had an impeccable professional and academic track record. He started his career in 1989 with Hindustan Lever Limited. During his stint with Hindustan Lever, he handled a variety of responsibilities, including exports and trading in agro- commodities with Rs3bn annual turnover. He then joined hands with two local brokers to set up their equity research division, Inquire, in 1994. His work set new standards for equity research in India. In 1995, he founded his own independent financial research company, now known as India Infoline Ltd.
Mr.R Venkataraman
R Venkataraman is the co-promoter and Executive Director of India Infoline Ltd. He holds a B. Tech degree in Electronics and Electrical Communications Engineering from IIT Kharagpur and an MBA degree from IIM Bangalore. He has held senior managerial positions in various divisions of ICICI Limited, including ICICI Securities Limited, their investment banking joint venture with J P Morgan of USA and with BZW and Taib Capital Corporation Limited. He has also held the position of Assistant Vice President with G E Capital Services India Limited in their private equity division. He has varied experience of more than 14 years in the financial services sector. Apart from Nirmal Jain and R Venkataraman, the Board of Directors of India Infoline comprises: Mr Sat Pal Khattar (Non Executive Director) Mr Sat Pal Khattar joined the Board with effect from April 20, 2001. Mr. Sat Pal Khattar is a lawyer by profession He was the founding partner of a firm of solicitors in Singapore named KhattarWong and at present is a Consultant in the said firm. He is also a director of a number of public companies in Singapore and India. He is the Chairman of 'Network India', a body sponsored by the Government of Singapore, which promotes two-way business contacts between Singapore and Indian business interests.
Mr Sanjiv Ahuja (Independent Director:Mr. Sanjiv Ahuja joined the Board with effect from August 28, 2002. Mr. Ahuja graduated from National University of Singapore with a degree in Computer Science and is also a Certified Public Accountant. He started his career in 1988 with Accenture (formerly Andersen Consulting) and has worked on several large projects particularly in the electronics and utilities industries. He
joined the Thakral Group of Companies in 1991 as the Chief Executive of their electronics packaging and Warehousing Company in Singapore and has also headed the group's Indian Investments division. He started his own investment advisory and consulting company in 2001, named Centennial Management Consultants Private Limited, focusing on investment mediation and investment management and advice. At present, he is also an Executive Director with Corporate Brokers International Private Limited, a reputed Singapore based mergers and acquisitions firm focusing on the SME space and also a board member of the Singapore Indian Chamber of Commerce and Industry, a post he has held since 2002. He is very familiar with the South Asian and South East Asian Markets and has direct investment experience in a variety of industries including real estate development, distribution and information technology. Mr Ahuja has an experience of more than 17 years.
Mr Nilesh Vikamsey (Independent Director)

Mr. Nilesh Shivji Vikamsey joined the Board with effect from February 11, 2005. Mr. Vikamsey qualified as a Chartered Accountant in 1985 and has been a member of the Institute of Chartered Accountants of India since 1985. He has a Diploma in Information System Audit ("DISA") from the Institute of Chartered Accountants of India in 2003. In 1985, Mr. Vikamsey was inducted as partner in M/s Khimji Kunverji & Co., Chartered Accountants and was in charge of the audit department till 1990 and thereafter also handles assignments related to financial services, consultancy, investigations, mergers and acquisitions, valuations etc. Mr. Vikamsey is a director of Alpha Garments Private Limited, English Apparels Private Limited, HLB Technologies (Mumbai) Private Limited, Miloni Consultants Private Limited & Chairman of HLB India. Mr Vikamsey is a member of the Accounting Standards Board and erstwhile Member of the Vision & Restructuring Committee of Institute of Chartered Accountants of India and member of Expert
Committees of Law and Company Affairs, Infotainment & Media and Economic & Business Reforms formed by the Indian Merchants' Chamber.
Mr Kranti Sinha (Independent Director)

Mr Kranti Sinha joined the Board with effect from January 27, 2005. Mr Sinha graduated from the Agra University with a Masters degree. He started his career in 1965 as a direct recruit Class I officer with Life Insurance Corporation of India and has worked in various capacities and at different locations throughout the country. He worked at various managerial levels and rose through the hierarchy to serve as the Director and Chief Executive of LIC Housing Finance Limited from August 1998 to December 2002 and concurrently as the Managing Director of LICHFL Care Homes (a wholly owned subsidiary of LIC Housing Finance Limited). He retired from the permanent cadre of the Executive Director of LIC. He has also served as the Deputy President of the Governing Council of Insurance Institute of India and as a member of the Governing Council of National Insurance Academy, Pune apart from various other such bodies. He is currently the Managing Director of the Global Institute for Financial and Education Services (India) Private Limited (a wholly owned subsidiary of The Global Institute, LLC, USA). Mr Sinha is also on the Board of Directors of Hindustan Motors Limited, Larsen & Toubro Limited & LICHFL Care Homes Limited. Mr. Dipak Gupta
Product and Services

We are one stop financial services shop, most respected for quality of its advice, personalized service and cutting-edge technology.
Equity:India infoline provided the prospect of researched investing to its clients, which was hitherto restricted only to the institution .Research for the retail investor did not exist prior to India infoline .India infoline leveraged technology to bring the convenience of trading to the investor s location of preference (residence & office)through computerized access. India infoline made it possible for clients to view transaction costs and larger updates in real time.
PMS:-
Our portfolio management service is a product wherein in equity investment portfolio is created to suit the investment objectives of a client. We at India infoline invest your resources into stock From different sectors, depending on your risk-return profile. This services is particularly advisable for investors who cannot afford to give time or dont have that expertise for day-to-day management of there equity portfolio.
Research:Sound investment decisions depend upon reliable fundamental data and stock selection techniques. India infoline equity research is proud of its reputation for ,and we want you to find the facts that you need. Equity investment professionals routinely use our research and models as integral tools in their work. They choose ford equity research when they can clear your doubts.
Commodities:India infoline extension into commodities its strategic intent to emerge as a one-stop solution financial intermediary. Its experience in securities broking has empowered it with requisite skills and technologies. The companys commodities business provides a contra-cyclical alternative to equities broking.
Insurance:
An entry into this segment helped complete the clients product basket, concurrently; it graduated the company into a one-stop retail financial solutions provider. To ensure maxim reach to customers across India, We have employed a multi pronged approach and reach out to customers via our network, Direct and affiliate channels. Following the opening of the sector in 1999-2000, a number of private sector insurance service providers commenced operations aggressively and helped grow the market. The companys entry into the insurance sector derisked the company from a predominant dependence on broking and equity-linked revenues. The annuity based income generated from insurance intermediation result in solid core revenues across the tenure of the policy. ICICI Prudential has a wide array of insurance plans that have been designed with the philosophy that different individuals are bound to have differing insurance needs. The ideal insurance plan is one
that addresses the exact insurance needs of the individual that will depend on the age and life stage of the individual apart from a host of other factors What is Life Insurance? Life insurance is a guarantee that your family will receive financial support, even in your absence. Put simply, life insurance provides your family with a sum of money should something happen to you. It thus permanently protects your family from financial crises. In addition to serving as a protective cover, life insurance acts as a flexible money-saving scheme, which empowers you to accumulate wealth-to buy a new car, get your children married and even retire comfortably. Life insurance also triples up as an ideal tax-saving scheme. To know more, read the Key Benefits of Life Insurance Human life value Beyond all doubt, your life is invaluable. Yet, there is a certain worth that can be attributed to the financial support you offer your parents, spouse or children. This worth is referred to as Human Life Value (HLV). In the future, if your family does not have the protective blanket of your presence, they will no longer be able to enjoy the benefits of the income you earned. Put simply Human Life Value is the present value of your future earnings. Why should you calculate your Human Life Value? You should calculate your Human Life Value so you can accordingly invest in insurance plans that provide your family with adequate finances and hence security even in your absence. How do you determine your Human Life Value? Your Human Life Value is determined by 2 factors: 1. Your age Current and future expenses
2. Current and future income as a thumb rule, if you are 30 years of age, you should insure yourself for an amount approximately 8 times your annual income. At 35, your investment should be close to 6 times your income. Of course, the exact amount of your investment should be determined by the number of people who depend on you, youre existing investments and your life stage. For example, if you are 30 years of age and have two children and parents to provide for, the amount you invest should be reflective of your requirements.
Calculate your Human Life Value NOW Use our quick and easy Human Life Value Calculator to determine your Human Life Value and the corresponding amount you should invest. Start right away! .Life Insurance Plans: Under Life insurance plans, ICICI Prudential offers plans under the following major need categories Education Insurance Plans Wealth Creation Plans Premium Guarantee plans Protection Plans Retirement Solutions: The primary objective of a retirement plan is to help you provide for your financial needs in your post retirement years. Forever Life Life Time Super Pension Life Link Super Pension
Health Product Suite: Under Health Product Suite, ICICI Prudential offers plans under the following major need categories: Health Assure Health Assure Plus Hospital Care Cancer Care Cancer Care Plus Crisis Cover Diabetes Care Diabetes Care Plus Education Insurance Plans One of your most important responsibilities as a parent is to ensure that your child gets the best
Possible education that can be provided. ICICI Prudential offers a wide portfolio of education insurance plans that are designed to provide peace of mind to you, as a parent, that your child's education will be secure. These plans ensure that money is made available at the crucial junctures in a child's education - Class X, Class XII, graduation and post-graduation - to fund crucial commitments for the child's future.Importantly, education insurance plans ensure that in the unfortunate event of the death of a parent, the child's education continues unhampered. Under the education insurance plans platform, ICIC Prudential brings the following products to you. Please click on the product name to know more about the plans
Wealth Creation Plans
Wealth Creation Plans give the customer the dual benefit of protection along with the potentially higher returns of market-linked instruments. The most important benefit of ULIPs is the flexibility they give the customer in choosing the premium amount and also choosing the underlying fund in which this money is to be invested. Wealth creation plans also offer the customer more liquidity options as compared to traditional plans. As such, ULIPs are ideal for customers who want the protection of a life cover to be allied to the returns of market linked instrument giving them an unmatched combination of benefits. Under the wealth creation platform, ICICI Prudential brings the following products to you. Please click on the product name to know more about the plans.
Premium Guarantee Plans
The latest addition to the life insurance product portfolio of ICICI Prudential is the Premium Guarantee plan Invest Shield Life New. Premium Guarantee plans are the ideal insurance-cuminvestment option for customers who want to enjoy the potentially higher returns of a market linked instrument, but without taking any market risk.
Under the Premium Guarantee Plans platform, ICICI Prudential brings to you the following products
protection Plans The sole objective of these plans, as their name indicates, is to serve the protection needs of the Customer and by doing so, safeguard ones family from the financial implications of unfortunate Circumstances than one cannot foresee. Under the Protection Plans platform, ICICI Prudential Brings to you the following products:
VISION:Our vision is to be the most respected company in the financial services space.
RESEARCH METHODOLOGY INTRODUCTION:

Marketing Research is a systematic and objective study of the problems Pertaining to the marketing of the goods and services. It may be emphasized that it Is not restricted to any particular area of marketing, but is applied to all the phases And aspects.
RESEARCH PROCESS:For assessing the customer response following market research process Followed
Step 1:Define the objective:

First step is defining the objective i.e. Market Potential for India infoline Insurance service researcher covered most of the areas, which had been instructed by the company.
Step 2:Develop research plan:

The second step was to develop the most efficient plan for gathering the needed information. 1). Data sources: Both primary & secondary data are taken into consideration. Primary data are data gathered from field for specific research project. 2). Research approach: I have mainly collected the primary data through survey & few cases by observations.
3).Research instrument: Questionnaire is used to collect most of the primary data. 4). Sample plan: after deciding on the research approach the instruments I decided sampling plan this cause for three decisions. A) Sampling unit: project was concentrated on retailers, whole sellers,real estate agents, builder service group & others for the sampling unit B) Sampling size: project consists of 125 respondents from different areas & from different professions. C) Contact method: once a sampling plan has been determined, marketing researcher need to decide how the subject should be contacted: mails, telephone, personal visit or online interview. In my project research it was mostly personal interview and telephonic interviews was held.
Step 3:Collect the information:

Data collection phase of the marketing research generally was the most time consuming period. In case of survey few problems arise likewise some respondents may not give all the detail information and might not be available and must be contacted or replaced. Others refused to cooperate and finally some respondents will be biased or dishonest to share information.
Step 4:Analyze the information:

The collected information needs to be analyzed thoroughly to extract the findings that will be useful to the company. Again this data must be tabulated and averages/measures are computed from various variables.
Step 5: Present the findings:

And the last step is present the findings that are relevant to the
METHOD OF DATA COLLECTION:-
1) Primary Data;
The major source for collecting primary data has been the interviews held with retailers, whole sellers, real estate agents, stockiest and few other segment of market. The maximum prospects were visited directly at the shops and interviewed provided they had time to spare. Some of them interviewed via tele-calling and few were interviewed after taking prior permission and appointment. The information given by them was satisfactory and relevant to the subject.
Secondary Data:
The major sources of secondary data are; INSTITUTION: - Business Magazines - News Paper - Annual Reports / Company Periodicals REFERENCES: - Internet, Company websites - Telephone Directory (BSNL and TATA Indicom) - References from company employees - Annual Reports / Company Periodical
QUESTIONNAIRE METHOD
This method is used to collect general information about the company like total number of employees viz. agents, sales executive, management trainees, front line staff etc. Sales executive
provided this information. This information helped to know the basic knowledge about the company before doing the actual research.
RESEARCH DESIGN:
SAMPLING UNITS: This combines all those respondents in the market who can be the future prospects of being a part as an insurer of India infoline insurance services ltd. Some of them are retailers, whole sellers, real estate agents, stockiest and few others from different commercial areas of Jhansi. As instructed by the company- following are the few segments. 1. Business Class - Retailers - Wholesalers - Construction/ Builders 2. Agents - Postal Agents - General Insurance Agents - Travel Agents - Real Estate Agents 3. Employees / Service Class - Professor / Teachers - Office Staff, Banks Staff - Government Employees 4. Mutual Fund Agents 5. Tax Consultants
6. Investment Consultants 7. Share Brokers 8. Financial Advisors 9. Chartered Accountants / Company Secretaries 10. Others- House wife, Medical Representatives Out of these various segments, the researcher targeted following - Retailers - Whole sellers - Real Estate Agents - Stockiest - Others Note: It was instructed by the company to target the people having net income Between 15000 and above p.m. The required data for above segments is to be such, which is helpful to know the background & potential of the prospects. For That entire researcher collected information as there, Name Present Age Address Ph No. - E-mailBrief Information about family Personal Goals Retirement Plans
Present monthly expenses Existing Investment Avenues
SAMPLE DESIGN
Sample Size (125)
Retailers (34)
Wholesaler (23)
Real Estate Agent (20)
Stockiest (12)
Other (38)
DATA COLLECTION TECHNIQUES: Questionnaire Method Telephone Interview Method QUESTIONNAIRE METHOD The individual questionnaire of the survey was designed for population between age group of 18 60 years of age who can be the prospect of becoming India infoline Insurance clients from different areas of JHANSI. In total 125 Questionnaires were completed who were the samples for research work. SAMPLE SIZE: The sample size of the respondents was taken as 165 considering the scope And constraints of the study. FIELD WORK: The fieldwork was conducted for a period of 45 days in different Commercial areas of JHANSI. Interviews were conducted from respondents across Segments, above 18 years of age and as per their convenience. So as to contrive Representative sample. The interview and presentation mode by researcher were Carried for the duration of 20 minutes.
DATA ANALYSIS AND INTERPRETATION 1. INVESTMENT OPTIONS PREFERRED BY RESPONDENTS.
Sr. No
Investment options
1 2 3 4 5 6 7 Total
Insurance Fixed Deposit Post PPF Mutual Fund Shares Other
41 14 8 10 19 1 15 125
INSURANCE 41 14 8 125 15 18 10 19 FIXED DEPOSITE POST PPF MUTUAL FUND SHERES OTHER TOTAL
RESPONDENTS FOR INVESTMENT OPTION

Out of total respondents, maximum i.e. 41 respondents think Insurance is a Safer option to invest the money. It gives them long-term benefits for not only Individual but for the entire family. Thus, people find insurance safe and better option rather than investing in FD, Post, Mutual Funds, and Shares etc.
2. ESSENTIAL OF LIFE INSURANCE

Around 76 % of the total on of respondents thinks that insurance is essential part of the life. But for everyone the need for life insurance is different reasons.24% of the respondents think other options are better than life insurance. Following Factors determine the need for life insurance.
for L.I Factors to determine Need
No. Of respondent
Security/Safety
63%
Savings
23%
Long term Investments
18%
Tax Saving
21%
Total
125
25%
SECURITY/SAFTY SAVINGS LONG TERM INVESTMENT
51% 9%
TAX SAVINGS TOTAL
7% 8%
3. AWARENESS ABOUT THE INSURANCE COMPANIES.

Insurance Companies No. Of respondents ICICI Prudential Kotak Mahindra Bajaj Allianz Tata AIG Max New York Life HDFC Other No. Of respondents
107 63 93 72 35 95 36 503
Total
ICICI PRUDENCIAL 11% KOTAK MAHENDRA 6% 9% 51% 4% 9% 7% 3% BAJAJ ALLIANZ TATA AIG MAX NEW YOURK LIFE HDFC OTHER TOTAL
Among all the private players in the market ICICI prudential, HDFC Standard Life and Bajaj Allinanz are among the most popular and known brands in the market. . These three Life Insurance companies do effective advertising that made them known brands in the Market. Among all the samples ICICI and HDFC are believed as the most reliable companies among all the private companies in the market. Following are the factors that determine why these two companies are preferred and believed by the
RELIABILITY FACTORS
Factors determining reliability Brand Name Safety Peer pressure ROI Previous experience Total
Response
68 73 55 90 45 331
350 300 250 200 150 100 50 0

AM
331
Series1 68 73 55 90 45
TY
RE
RO
CE
SA FE
RI EN
SU
BR AN D
PR ES
PE ER
People are positive about ICICI and HDFC as reliable companies because of their Rate of Returns, Brand name, and Previous experience and also there is lot of peer pressure among them.
Insurance Companies Market Share
Insurance Companies LIC ICICI Prudential Kotak Mahindra Bajaj Allianz Tata AIG Max New York Life HDFC Other
Total
PR EV IO U
Market Share
34 10 3 6 5 3 3 1 65
EX PE
TO
TA
LIC ICICI PRUDENCIAL 26% KOTAK MAHINDRA BAJAJ ALLIANZ TATA AIG 50% 8% 2% 5% 1% 2% 4% 2% MAX NEW YORK LIFE HDFC OTHER TOTAL
Among the total market share LIC still has majority share in market, holding 54% of the total respondents. Among the private companies ICICI Prudential, Bajaj Allianz and HDFC are leaders,.
BENEFITS FROM LIFE INSURANCE POLICY
Benefits
Responses Of Clients
Child Education Personal Goals Marriage Retirement Savings
35 60 45 85 65
Other Total
10 300
6%
CHILD EDUCATION 10% 8% PERSONAL GOALS MARRIAGE RETIREMENT SAVINGS OTHER TOTAL
49% 14% 2% 11%
Personal goals, retirement, savings are the prime benefits for which people usually invest in insurance. The same response was found during the research work. It is good sign for the insurance business, as people perceive insurance for achieving the different goals in the life.
OBSERVATION
The researcher has taken interview of given various segments as Retailers, Whole sellers, Real-Estate Agents, employee and others and came to know the facts as follows.
RETAILERS:
Belief:
Retailers contribute to the major portion of any market. Therefore, retailers are good prospects for insurance business. Normally it is believed that they spare very less time with other people other than their customers. Retailers are quite busy with their customers and other related work.
Facts: Though some beliefs are found correct but observation shows other side of the curtain i.e. they were quite generous when they knew that they were getting some information. They spare good amount of time if one presented the company and himself properly. Retailers give sufficient information if they believe in the work.
WHOLE SELLERS
Belief: Whole sellers are believed to be among the busiest people in their work. They areActively involved in loading, unloading, dispatching, billing etc.
Facts: Whole sellers are not ready when we approached spontaneously to provide some information. They provide sufficient information if they contacted when they have foretime. Most of them were not really comfortable to give any sort of personal and financial information. These people run huge business so these are highly potential prospects for any business.
REAL ESTATE AGENTS Belief: These people are not as busy as they have selective and limited no. of customers. But many of these agents are out with their clients on their sites thus it becomes really difficult to meet them. They are believed; as they don t entertain others.
Facts:
Appointments need to be taken before visiting to their places. These agents have very good contacts, which means good customer base. So they give bigger and better clients for insurance business. STOKISTS/COMPANY OUTLETS Belief: These are believed as high-class people and usually prefer to talk with senior Executives of any company. Facts: These people should be given a call before visiting their place, as they don t appreciates direct visits by any people. Good presentation is required to make them talk for a while. A highly potential customer if one makes them believe in company by providing detail information regarding company its present and future growth.
OTHERS These include house-wife, pensioners etc. Belief: They are supposed to have sufficient time and believed as the working persons at home normally influence these people.
Facts:
Most of the hose-wife was shy to talk with strangers. These people are dependent for their decisions. Not a very good prospect for insurance business.
FINDINGS: A): BRAND Knowledge 1. It is found during research that 58 percent were lacking any sort of knowledge and information about India infoline as life insurance provider. 2. From the total 125 respondents, 105 respondents save good amount of money i.e. between Rs 10000 to Rs. 40000 in insurance. Remaining people save anything between Rs 5000 to Rs 10000.Thus it shows as everyone has some part of savings in insurance, which is good sign for insurance sector.
3. Majority i.e. 70% respondents have their personal goals retirement and saving plans as prime concern for buying insurance. 4. Out of 125 samples, 65 respondents i.e. around 56 % of them have insurance cover in different private insurance and government organizations.
B): PRODUCT Knowledge

1. 26 percent had just heard about India infoline but were lacking Knowledge about different plans. Out of these 26 percent only 9 percent people were insurance holders of India infoline Insurance services.
2. It is found that still (LIC) Life Insurance Corporation of India rules when incomes to trust for insurance providers, among private sectors its ICICI Prudential, HDFC Standard Life, Bajaj Allainz are among market leaders.
3. Still 82 percent of samples think insurance is essential for various reasons. 4. Many respondents found saying HDFC and ICICI as being more reliable insurance providers in terms of returns, peer pressure, previous experience than their competitors.
Limitations:
One of the major limitations of this study was lack of sufficient time as the Subject was required lot of time. The time limit permitted to cover the major areas of Pune but not all the regions of the city. The study limits itself only to India infoline Insurance services.
RECOMMENDATION:1. More visibility through advertising Media Advertising T.V Channels, Radio Stations, Internet pop-ups, Video Clips during the intermission in Theaters.
Press Advertising Leading News Papers like Times of India, Economic Times, Hindustan Times, Indian Express and few local language newspapers. Campaigning, Rallies, Sponsorships for the local institutional and social events. All these forms of advertising could be effectively used to create brand awareness for India infoline Insurance services. 2. They need to concentrate on service factor by hiring or recruiting professional people for Effective presentation and communication skills.
3. They need to open more branches/offices at the major localities in different cities and if Possible in towns.
4. They should hire a Brand Ambassador/Ambassadress from Cricket or Film industry as people from these two fields influence many people in the society. This would promote the company not only within India but also at global standards. This might create strong awareness and give popularity to the company as millions of people are addressed at one time.
5. They need to search for management trainees whom they can provide proper training who could turn out as future employees of the company.
6. Good amount of incentives and basic salaries should be given to the employees to make them perform better.
7. Proper training facilities should be given to the new employees, which will help them to get fair idea about the company and its policies. 8. Feedback should be taken from the present clients to know whether they are satisfied and if they have any problems regarding the terms and service. This will certainly help to improve the overall performance of the company. 9. Special schemes like Lucky Draws, Trip to foreign countries; Attractive prizes could be used for promotion. 10. Should develop the plans that are attractive. Also they should develop new plans that are not launched by any other companies to take first launcher advantage.
CONCLUSION
After all the research work it can be said that Private Insurance companies have good market potential in the coming years. There is steady growth in all the companies from last 2-3 years. Despite the fact that India boosts saving rates of around 25 percent, less than 5 percent is spent on insurance. So there is lot of opportunities to tap the market provided these companies create trust among the people. In case of India infoline Insurance services, they need to develop a Brand name in the market, which is only possible with effective advertising and good service. They should promote their products throughout the country and target specific group or class for each plan or policy. This will make them concentrate on all the plans, which means maximum portion of the so market can be covered.
BIBLIOGRAPHY
Company websites: www.indiainfoline.com www.5paisa.com Research Methodology: C.R. Kothari Marketing Management: Subham singh
ANNEXURE
1.
Personal detail : Name: Age (Yrs): Ph. No. : Gender: Office Address Residential Address E-mail:
2. How will you rate following investment options on safety as parameter on scale? a) 0-3 Poor b) 3-7 Average c) 7-10 Good
1. Insurance
2.Fixed Deposit
3. Post
4.PPF
5. Mutual Fund
6.Shares
7. Other
3. Do you think it is essential to have Life Insurance? a) Yes b) No
If Yes, Why? 1. Safety/Security 3. Savings 2.Long term investment 4.Tax saving
4. Which of the following companies are you aware as insurance provider?
1. ICICI Prudential 3. BAJAJ Allainz 4.Tata AIG
2.Kotak Mahindra Life Insurance 5Max New York Life
6.HDFC Standard Life Insurance 7. Other
5. Which of the following companies you consider most reliable to invest? 1. ICICI Prudential 3. BAJAJ Allainz 5. Max New York Life 7. Other 2.Kotak Mahindra Life Insurance 4.Tata AIG 6.HDFC Standard Life Insurance
If Yes, Why? 1. Brand Name 3. Peer-pressure 5. Previous experience 2.Safety 4.ROI 6.Other
7. Do you have insurance cover or policy?
1. Yes 2.No If Yes, which? 1. ICICI Prudential 3. BAJAJ Allainz 2.Kotak Mahindra Life Insurance 4.Tata AIG
4. Max New York Life 5.HDFC Standard Life Insurance 6. LIC 7. Other 7. Approximately how much money you invest in Life Insurance from your total
savings?
1. Rs5000-Rs10000 2.Rs10000-Rs20000 3. Rs20000-Rs30000 4.Rs 30000- 40000 5. Rs >40000. 8. What benefits you avail for investing money in insurance? 1. Child Education 2.Personal Goals 3. Marriage 4. Retirement 5. Savings 6. Other 9. Are you aware about the India Infoline Insurance Services ? 1. Yes 2. No 10. Are you aware about different plans of India Infoline such as; 1. ICICI Flexi Plan 2. ICICI Retirement Income Plan 3. ICICI Capital Multiplier Plan
4. ICICI Easy Growth Plan 5. ICICI Child Advantage Plan 11. In the near future would you be interested to buy any policy from ICICI
PRUDENCIAL Insurance?
1. Yes 2. No 3. Cant Say 12. Any Suggestions for ICICI PRUDENCIAL life insurance?

Fyp India Infoline Icici Prudencial Private Life

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A PROJECT REPORT ON INDIA INFOLINE (ICICI PRUDENCIAL)

VISHWAKARMA INSTETUTE OF MANAGMENT S. No. 3&4,Kondhawa Budrak, Pune.4110048

TO WHOMSOEVER IT MAY CONCERN

be good and complete in all respect.

Prof. Sharad Jhoshi (Director)

Mr. Shwetank Sharma (MMM 2006-2007)

09 10. 11. 12. 13. 14.

Introduction to the topic:-

Importance of the topic

ENTRANCE OF PRIVATE COMPANIES IN INSURANCE SECTORS:-

Foreign Insurer SUN LIFE, Canada

13). ING Vysya life insurance co. ltd.

COMPANY PROFILE ABOUT INDIA INFOLINE GROUP

JOURNEY OF INDIA INFOLINE.COM

INDIA INFOLINE SECURITIES PVT LTD:-

Mr Nilesh Vikamsey (Independent Director)

Mr Kranti Sinha (Independent Director)

Product and Services

Wealth Creation Plans

Premium Guarantee Plans

RESEARCH METHODOLOGY INTRODUCTION:

Step 1:Define the objective:

Step 2:Develop research plan:

Step 3:Collect the information:

Step 4:Analyze the information:

Step 5: Present the findings:

METHOD OF DATA COLLECTION:-

Present monthly expenses Existing Investment Avenues

Sample Size (125)

Real Estate Agent (20)

DATA ANALYSIS AND INTERPRETATION 1. INVESTMENT OPTIONS PREFERRED BY RESPONDENTS.

Insurance Fixed Deposit Post PPF Mutual Fund Shares Other

RESPONDENTS FOR INVESTMENT OPTION

2. ESSENTIAL OF LIFE INSURANCE

for L.I Factors to determine Need

Long term Investments

SECURITY/SAFTY SAVINGS LONG TERM INVESTMENT

TAX SAVINGS TOTAL

3. AWARENESS ABOUT THE INSURANCE COMPANIES.

350 300 250 200 150 100 50 0

Insurance Companies Market Share

BENEFITS FROM LIFE INSURANCE POLICY

Child Education Personal Goals Marriage Retirement Savings

49% 14% 2% 11%

B): PRODUCT Knowledge

3. Do you think it is essential to have Life Insurance? a) Yes b) No

If Yes, Why? 1. Safety/Security 3. Savings 2.Long term investment 4.Tax saving

4. Which of the following companies are you aware as insurance provider?

1. ICICI Prudential 3. BAJAJ Allainz 4.Tata AIG

2.Kotak Mahindra Life Insurance 5Max New York Life

6.HDFC Standard Life Insurance 7. Other

7. Do you have insurance cover or policy?

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