V.M.

PATEL COLLAGE OF MANAGEMENT STUDIES

IS SUBMITTED TO: -

V.M.PATEL COLLEGE OF MANAGEMENT STUDIES Ganpat vidhyanagar, kherva (AFFILIATED TO GANPAT UNIVERSITY)

IN PARTIAL FULFLMENT OF ACADEMIC REQUIRMENT OF TYBBA PROGRAM

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INDEX Sr. No Sub No. i ii iii 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 2 2.1 2.2 2.3 2.4 2.5 2.5.1 2.5.2 2.5.3 2.5.4 2.5.5 2.5.6 2.5.7 2.5.8 2.5.9 2.5.10 2.5.11 2.5.12 2.5.13 2.6 2.6.1 2.6.2 2.6.3 2.6.4 2.6.5 2.7 2.8 Particular Preface Acknowledgement Executive Synopsis General Information Company Profile History & Development Introduction of the Company Prudential Plc About Company Existing Management Bodies Management team Structure Vision of Enterprise Objective of the ICICI Prudential Companies Achievement Promoter of the Company Marketing Department Introduction of the Marketing Department What is life insurance Human life value Research Methodology Product Profile SavenProtect Case Bak Life Guard Smart Kid Life Link Lifetime Forever Life Life Time Pension Assure Invest Re Assure Group Insurance Solution ICICI Pru Group Gratuity Plan ICICI Pru Group Term Plan ICICIs Insurance Plan Unit Linked Insurance Product Traditional Plan Education Insurance Plan Wealth Creation Plan Protection Plan Products Analysis Data Page No. 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 27 28 28 30 31 32 34 35 36 37 38 39 40 40 40 41 41 42 43 44 45 46 47

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2.8.1 2.8.2 2.8.3 2.9 2.10 3 4 5

Age Gender Respondent Market survey Awards Conclusion Suggestion Bibliography

47 48 49 50 69 72 73 74

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1.1 Company Profile NAME AND ADDRESS OF COMPANY: ICICI PRUDENTIAL LIFE INSURANCE PVT LTD. (Branch office) Pataleswar complex, Near Kirtistambh, Palanpur DATE AND YEAR OF ESTABLISHMENT: ICICI prudential life insurance pvt ltd. was established in 1848. It had built solid reputation over 150 years. A truly global brand. SIZE OF THE UNIT: Large Scale Company

FORM OF BUSINESS ORGANIZATION: Private company

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1.2 History and Development ICICI prudential life insurance pvt. ltd. is established as the Prudential Mutual Assurance and Loan Association in 1848, today ICICI is an international financial services company with a product range which extends from personal banking insurance, pensions and retail investments, to institutional fund management and property investments. Companys portfolio of well-known and respected brands, including Prudential, M&G Investments, Jackson National Life, Prudential Corporation Asia and Egg, has attracted more than 21 million customers (and policy holders and unit holders) worldwide. Across the Group we have 238 billion of funds under management (at 30 June 2006). Company has significant operations in the UK, the US and Asia, contributing to a diversity of earnings. Worldwide we employ more than 23,000 people and our shareholders number 60,942 (at 31 December 2005). We are listed on the London and New York stock exchanges.

1.3 Introduction of company ICICI and prudential came together in 1993 to from prudential ICICI asset Management Company, which has today emerged as one of the lading mature firms in India. The two companies bring together two of the strongest financial service brands in Asia, know for there professionalism, excellent quality of service and long term commitment to the customer. Redding on the success of the relationship, the two companies joined hands once more in 2000, to from ICICI prudential life insurance, with a commitment to provide leading-edge life insurance services.

ICICI prudential has one of the largest distribution networks amongst private life insurance in India, having commenced operation in 28 cities and towns in India. These are: Ahmadabad, Bangalore, Chandigarh, Chennai, Coimbatore, Gurgaon, Hyderabad, Indore, Jaipur, Jalandhar, Kanpur, Kochi, Kolkata, Kottayam, Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mumbai, Nagpur, Nasik, Noida, New Delhi, Pune, Thane, Vadodara, and Vapi.

The company has largest number of bank assurance tie-ups, having agreements with ICICI bank, City bank, Alhabad bank, Federal bank, South Indian bank, Bank of India, Lord Krishna bank and Punjab & Maharastra Co-Operative bank, as well as sunk

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corporate agent. It has also tied-up with organization like Dhan distribution of Salam Zindagi, a policy for the socially and economically under privileged section of society.

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

1.5 About Company India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank-one of India's foremost financial services companiesand prudential plc- a leading international financial services group headquartered in the United Kingdom. Total capital infusion stands at Rs. 15.85 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%. Prudential plc is an international retail financial services group that aims to help people secure and enhance their own and their dependants financial well being by providing savings, protection and other products and services suited to their needs. Company has strong franchises in three of the largest and most attractive markets in the world; where rising wealth and changing demographics are fuelling demand for life insurance and other long-term savings and protection products. Company strategy is to build successful and increasingly profitable businesses in each of these markets, and thereby maximize returns to our shareholders over time.

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1.6 Existing Management Bodies Ms. Shikha Sharma, Mr. N. S. Kannan, Mr. Sandeep Batra Ms. Anita Pai, Mr. Azim Mithani, Mr. Puneet Nanda Mr. Binayak Dutta, Mr. K.V. Kamath, Mr. Mark Norbom Mrs. Lalita D. Gupte Mrs. Kalpana Morparia Mrs. Chanda Kochhar Mr. HT Phong Mr. M.P. Modi Mr. R Narayanan Mr. Keki Dadiseth Managing Director & CEO Executive Director CFO & Company Secretary Chief-IT, Customer Service & Operations Chief Actuary Chief Investments Officer Chief Sales and distribution Chairman Director Director Director Managing Director Managing Director Executive Director Executive Director Director

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1.7 Management Team Structure

Chairman

Group Finance Director

Group Chief Executive

Chief Executive

Chief Executive

Chief Executive

President and chief Executive

Chief Executive

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1.8 Vision of Enterprise To make ICICI Prudential the dominant Life and Pensions player built on trust by worldclass people and service. This we hope to achieve by: Understanding the needs of customers and offering them superior products and service Leveraging technology to service customers quickly, efficiently and conveniently Developing and implementing superior risk management and investment strategies To offer sustainable and stable returns to our policyholders Providing an enabling environment to foster growth and learning for our employees And above all, building transparency in all our dealings.

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

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

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1.9 Objective of the ICICI prudential The main objective of the company is as under. 1. Maximize mobilization of peoples savings by making insurance linked savings adequately attractive. 2. Act as trustees of the insured public in their individual and collective capacities. 3. Conduct business with utmost economy and with the full realization that the moneys belong to policyholders. 4. Spread life insurance much more widely and in particular to the rural areas and to the other classes of the society with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost. 5. Meet the various life insurance needs of the community that would arise in the changing social and economical environment. 6. Promote amongst all agents and employees of the company a sense of participation, pride and job satisfaction through discharge of their duties with dedication toward achievement of the company objective.

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1.10 Companies Achievement The No. 1 life insurance company with: 75 years experience in Asia Maximum number of policies sold Largest premium income Largest agency force Biggest Pension player Over 60,000 staff advisors in Asia Over 2 million customers in Asia In 12 countries throughout Asia

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1.11 Promoters of the Company ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA).

ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of Rs. 2513.89 billion as on March 31, 2006. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, and corporate and agricultural finance.

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2.1 Introduction of Marketing Department What is marketing? Marketing may be defined as the process of exchange between seller and buyer. It involves a number of inter related activities designed to plan, program, promote, distribute and need of both the parties in exchange transaction. In other word marketing means the key to achieve its organizational goals consists of the company being more effective than competitors in creating, delivering and communicating customer to it chooses target market. Marketing also includes advertising selling, sales promotion effort, distribution of goods and services product planning and implementation of product can not only be feasible items but services and ideas also be regard as product.

Marketing concept rests on four pillars: Target market Customers need Integrated marketing Profitability P. Koteler defines marketing as the human activity directed at satisfying needs and wants through exchange process.

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 What is marketing management?

Marketing management is the process of planning, executing the conception, promotion and distribution of idea, goods and services to create exchange that satisfy individual and organizational goal. It is that types of function when can not be separately from other function of organization without marketing the organization does not need to produce if production function is high and marketing function is low than firm can not get adequate return from its investment so marketing does not include only selling activities which have some concerned with product. Product is the bundle of attributes, which gives satisfaction to the need or want to customers.

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2.2 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.

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2.3 Human Life Value

What is 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 we 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 we determine our Human Life Value?

Your Human Life Value is determined by 3 factors: 1. Your age 2. Current and future expenses 3. 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 number of people who depend on you, your existing

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investments and your life stage should determine the exact amount of your investment. 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.

2.5 PRODUCT PROFILE PRODUCT OF ICICI PRUDENTIAL Insurance Solution for Individuals ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its 13 products can be enhanced with up to 4 riders, to create a customized solution for each policyholder.

Saving Solutions 2.5.1 Save n Protect:-

ICICI Pru SavenProtect is a traditional endowment savings plan that offers life protection along with adequate returns. SavenProtect is the policy that helps to save money for the customer and protect the future of their family. With SavenProtect the customer can attach four riders that provide them with cover against critical illness, major surgeries, disabilities and more in case of untimely accident death.

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1. Critical illness benefit rider: Under this rider nine-critical medical condition are covered. These conditions are as follow: 1. Major Organ Transplants. 2. Complete Renal Failure. 3. Stroke. 4. Paralysis. 5. Heart attack. 6. Valve Replacement surgery. 7. Major surgery of the Aorta. 8. Bypass surgery. 9. Cancer.

2. Major Surgery Assistance Rider: Under this policyholder is covered against 43 surgeries. 3. Accident and Disability benefit Rider: In this rider the client is covered against death or permanent disability causes due to an accident. 4. Accident Benefit Rider: In this rider the client is covered against death causes due to an accident. The minimum sum assure in this policy is Rs.50, 000/- and maximum is Rs.1,00,000/ The minimum age at entry is 0 years and the maximum age at entry is 60 years. The premium payment frequencies are yearly, half yearly and monthly. In the rural areas where population is 10,000 or less than the minimum sum assured of Rs. 20,000. Tax Benefit is given at plan under section 88 and 10(10) D benefits.

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2.5.2 CaseBak: ICICI Pru CaseBak is an anticipated endowment policy ideal meeting milestone expenses like a childs marriage, expenses for a childs higher education or purchase of an asset. CaseBak policy is designed to give money to the policyholders at regular intervals, provides life cover and creates wealth. CaseBak can be taken with all the four riders as we had seen with SavenProtect.

1. Critical illness benefit rider. 2. Major Surgical Assistance Rider. 3. Accident and Disability benefit Rider. 4. Accident Benefit Rider. The minimum sum assured in this policy is Rs.75, 000/- and maximum can be Rs.1,00,00,000/ The minimum age at entry is 16 years and maximum age at entry is 55 years. The Benefit is given at plan under section 88 and 10 (10) D benefit.

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Protection Solution

2.5.3 Life Guard:

ICICI Pru LifeGuard is a protection plan, which offers life covers at very low cost. It is available in 3 option level assurance, level term assurance with return of premium and single premium. ICICI Pru lifeguard is a term insurance plan, which provides large amounts of life protection at very low costs. This makes the product appeal to sections across the society.

1. Lower income group:- can have life protection without compromising on the sum assured. 2. Middle income group:- can have life protection as per their human life value, without selling out large amount of premiums. 3. Higher income group:- can have large amount of protection to cover against liabilities and large human life value. In case the policyholder passes away during the term of policy than the entire sum assure is paid to the nominee/beneficiary of policyholder. In this policy the customer get additional benefits of: 1.Accident and disability benefit rider;-this ensure that the policyholder can have a comprehensive life protection against nature death, accidental death and permanent disability. 2. Accident benefit rider;- the riders futures are same as we studies with ICICI Pru. Save nprotection and ICICI Pru CaseBak In this policy the minimum sum assure of Rs.1, 00,000 and maximum is Rs. 10,00,000 Minimum is at entry is 18 years and maximum age at entry is 65 years. Tax benefit is given at plan under section 88 and 10 (10) D.

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Child Solution 2.5.4.SmartKid

ICICI Pru Smart Kid provides granted educational benefit to a child along with life insurance cover for the parents who purchase the policy. The policy is designed to provide money at important milestones is the childs life. The policy is exclusively designed to meet the child educational need. This policy provides the flexibility to the parents to decide a maturity time, which would be most appropriate to the plans that they have for their child. In this policy the guaranteed addition and bonus are paid on the maturity date. These payments are made even if par antes do not survive till the maturity date. Thus the childs future is secure even in the event of any uncertainty. With ICICI Pru Smart kid three riders attachable

1. Income benefit rider:

In this rider the main benefit is that payment are of 10 % of sum assured annually to child for 15 years.

2. Accident and disability benefit rider:

This provides cover against unfortunate death due to an accident or worse if the individual gets permanently disable due to an accident.

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3. Accident benefit rider:

This rider is and option which the child in the case wants a cover against death due to accident.

Age at entry of children is 0 to 12 years can purchase ICICI Pru Smart kid. Minimum age of parents is 20 years and maximum age is 60 years. Minimum sum assured is Rs. 1,00,000/- and maximum is Rs. 30,00,000/-.

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Market-linked Solutions

2.5.5.Life Link

ICICI Pru Life Link is a single premium Market Linked Insurance Plan, which combines life insurance cover with the opportunity to stay, invested in the stock market. This is the single premium unit linked insurance solution. In this product the policyholder puts in a single premium. Life Link is a plan that is best suited for short term and long-term perspective. Since this is an open ended plan, there will be no fixed maturity date. ICICI Pru life link has the same funds as ICICI Pru lifetime and the NAV of the two is also same. In this policy the minimum age of entry is 0 years and maximum age is 60 years.

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2.5.6.Lifetime

This is an insurance product with no maturity or maturity value; at any time the value of unit is what the value of the product is. ICICI Pru Lifetime offer customer the flexibility and control to customize the policy to meet the changing needs at different life stage. It offers three investment option growth plan, income plan and balanced plan. This is a regular premium product that has the option of yearly, half yearly, quarterly and monthly modes of premium. This is an insurance product that works in from units, which are issued to the policyholder depending upon the unit value and the investment done in the from of premium. This is an insurance product where following riders sre attached:

1. Critical illness benefit rider. 2. Major Surgical Assistance rider. 3. Accident and Disability benefit rider 4. Accident benefit rider. This is an insurance product where the death benefit is a multiply of the annual premium paid. Minimum sum assured is Rs.1, 00,000/- and maximum is Rs.50, 00,000/ Minimum age of the rider is 0 year and maximum is of the rider is 60 years.

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Retirement Solutions To cater to the needs of a customer looking for retirement planning, ICICI Prudential presents a wide array of products. These products have been designed to take into account the diverse set of needs that characterize individual customers.

2.5.7.forever life

ICICI Pru forever life is a retirement product targeted at individual in there thirties. Market-linked retirement products This policy is designed to give the customer an annuity when the customer needs it. This policy cover with following rider;-

1. Critical illness benefit rider. 2. Major surgical Assistance rider. 3. Accident and Disability benefit rider 4. Accident benefit rider Minimum sum assured is Rs.50, 000/- and maximum sum unlimited. Minimum is at entry is 20 years and maximum is 60 years.

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2.5.8.lifetime Pension

ICICI Pru lifetime pension is a single premium market linked pension plan. This is a solution that provides policyholder with the power to adopt as the life stage change. It powers the policyholder to plan for retirement, investment and protection. The flexibility to plan for retirement the way that the customer wants is the crux of this plan. The plan is the combination of forever life and lifetime. In this plan the power is in the customer hands to decide how much pension they would like to ratio. There are three option of the investment, which is as under: 1. Protector:- The main objective of this plan is to steady returns over a long term. 2. Balancer:- The main objective of this plan is to balance of capital appreciation and steady returns over a long term. 3. Maximize:- The main objective of this plan is high growth and capital appreciation over a long term. Minimum death benefit is Rs.1, 00,000/- and maximum is Rs.50, 00,000/ Minimum is at entry is 18 years and maximum is at entry is 60 years.

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Single Premium Solution 2.5.9.Assure Invest ICICI Pru Assure invest is a single premium saving product with the life cover for term of 5, 7 or 10 year. Assure invest is a single premium plan that provide risk free investment. It is an ideal plan for all age and caters to business class, VRS personal and salaried people, wherein they can invest their annual bonuses. This plan can be brought for a 7 year old and also for 62-year-old senior person wherein at the age of 62 a 5 years term can be bought. The maximum age of maturity is 72 years. In case the policyholder dies in the first year of the policy than no death benefit is paid. Minimum is at entry is 18 year and maximum is 60 year. Minimum sum assure is Rs.1, 00,000/- and maximum is Rs. 10,00,000/-

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2.5.10.Re Assure ICICI Pru Re Assure is retirement product for senior citizen who is on the verge of retirement or has just retired. Re Assure is plan that helps people save and also give liquidity. This is a single premium plan that provides a risk free investment. It is an ideal plan for all ages and caters to business class, VRS personal and salaried people. Minimum age at entry is 7 year and the maximum is at entry 62 years. In case the policyholder dies in the first year of the policy than 100% the single premium is returned. On accidental during the term of the plan including the first year 110%of the sum assured is paid as death benefit. As per the term opted and signal premium paid return is paid out at the end of each policy year. Minimum sum assured is Rs.50, 000/- and maximum is Rs. 50,00,000/-.

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ICICI Pru Group Superannuating Plan 2.5.11.Group Insurance Solution ICICI prudential also offers group insurance solution for companies seeking to enhance benefits to their employees.

2.5.12. ICICI Pru Group Gratuity Plan ICICI Prus group gratuity plan helps employers funds their statutory gratuity defined contribution superannuating scheme to a retirement kitty for each member of the group.

Employees have the option of choosing from various annuity option r opting for a partial commutation of the annuity at the time of retirement.

2.5.13. ICICI Pru Group Term Plan ICICI Prus flexible group term solution helps provide affordable cover to member of a group.

The cover could be uniform or based on designations/rank or a multiple of salary.

The benefit under the policy is paid to the beneficiary nominated by the member on his/her death.

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2.6 ICICIs Insurance Plans

2.6.1. Unit Linked Insurance Product

ULIPs have gained high acceptance due to attractive features they offer. These include: 1. Flexibility 1. Flexibility to choose Sum Assured. 2. Flexibility to choose premium amount. 3. Option to change level of Premium /Sum Assured even after the plan has started. 4. Flexibility to change asset allocation by switching between funds 2. Transparency 1. Charges in the plan & net amount invested are known to the customer 2. Convenience of tracking ones investment performance on a daily basis. 3. Liquidity 1. Option to withdraw money after few years (comfort required in case of exigency) 2. Low minimum tenure. 3. Partial / Systematic withdrawal allowed 4. Fund Options 1. A choice of funds (ranging from equity, debt, cash or a combination) 2. Option to choose your fund mix based on desired asset allocation

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2.6.2 Traditional Plans These are the oldest types of plans available. These plans cater to customers with a low risk appetite. Some of the common features of traditional plans are: 1. Steady Investment 1. Major chunk of inventible funds are in debt instruments 2. Steady and almost assured returns over the long term 2. Features 1. Death benefit is Sum Assured + guaranteed & vested bonus 2. Helps in asset creation as they are for a long tenure 3. Premium to Sum Assured ratios are fixed for each plan and age. Generally withdrawals are not allowed before maturity

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2.6.3. Education Insurance Plans

One of our most important responsibilities as a parent is to ensure that our 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.

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2.6.4. 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.

2.6.5. 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

2.7 Products

Cash Plus Save'n'Protect CaseBak Lifetime Super & LifeTime Plus Life Link Super Premier Life Gold Invest Shield Life New Invest Shield CaseBak LifeGuard Home Assure Education insurance

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Forever Life LifeTime Super Pension Life Link Super Pension Immediate Annuity Health Assure and Health Assure Plus Cancer Care Diabetes Care Group Gratuity Plan Group Superannuation Plan Group Immediate Annuities Group Term Plan

2.10 Awards India's Most Customer Responsive Insurance Company Avaya Global Connect - Economic Times Customer Responsiveness Awards

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 Most Trusted Private Life Insurer The Economic Times - A C Nielsen Survey of Most Trusted Brands 2003, 2004 and 2005

Prudence Customer Centricity Award 2004 & 2005 Prudential Corporation Asia

Best

Life

Insurer

2003

Outlook Money Awards 2003 & 2004

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 Super brand 2003-04

Silver Effie for Effectiveness of the Retire from Work not life advertising campaign Effies 2003

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## Recognitions IMM Award for Excellence Institute of Marketing & Management Organization with Innovative HR Practices India Group of Institutes Organization with Innovative HR Practices Asia-Pacific H R Congress Awards for HR Excellence 3. CONCLUSION So many people are not aware about life insurance but some of the people are still, unaware about life insurance. Most of the people know LIC so we can conclude that LIC player major role in life insurance. So many people have no knowledge about privatization of Life Insurance Company. From the data I conclude that so many people think that career in life insurance is good but because of lack of information they are not able to become an insurance agent.

So many people do not know job of the life insurance advisor.

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4. SUGGESTION Many people do not know the importance of life insurance in their life, so company to inform that how life insurance is important in their life. Many people do not aware that life insurance industry has been privatized so they give them information that insurance sector had become privatized. So many people do not aware about commission per policy received by insurance adviser, so company can do advertisement for awareness of commission per policy. Most the people can think insurance as a part time career is good but they cant have proper information about life insurance, so company has to arrange seminar and different activities regarding awareness of people for the life insurance. Most of the people can know about LIC so company has to advertise in local newspaper and magazine, so that people can know about ICICI Pru life insurance.

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5. BIBLIOGRAPHY

Information was collected from: ICICI Prudential literature ICICI Prudential Life Insurance: www. ICICI prulife.com Market place

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