A
PROJECT REPORT
ON
THE AWARENESS LEVEL OF LIFE INSURANCE IN PUNE
FOR
ICICI PRUDENTIAL LIFE INSURANCE
SUBMITTED
BY
(MBA-91259)
SUBMITTED IN THE PARTIAL FULFILLMENT OF THE
REQUIREMENT
FOR THE AWARD OF MBA
INSTITUTE OF BUSINESS MANAGEMENT AND RESEARCH
CHINCHWAD
PUNE-411033
ACKNOWLEDGEMENT
I take this opportunity to thank ICICI Prudential Life Insurance for giving
me the opportunity to do this project. There are people who simply influence
and inspire you to do things.
I acknowledge my gratitude and indebt ness to my guide, Mrs. Rashmi
Ranjan who was a source of continuous guidance and inspiration to me and
without her guidance and motivation this report could not have seen the light
of the day
I am also thankful to Mr. Parlay Kumar Ghosh whose dedicated
cooperation helped me to give the final shape to the project.
SUNNY KUMAR
(PGDM-BA-0847)
TABLE OF CONTENTS
PAGE
S No. PARTICULARS No.
1 Executive Summary
2 Industry Profile
3 Company Profile
4 Objective of the Research
5 Research Methodology
6 Data Analysis and Interpretation
7 Findings
8 Recommendation
9 Limitation
10 Conclusion
11 Bibliography
12 Annexure
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
The project titled “The Awareness Level of Life Insurance in Pune.” for ICICI Prudential
Pvt. Ltd. was basically a research based project. The main motive behind choosing this
project are to do a Product awareness, competitor analysis, consumer analysis, get
feedback from the customers about the various functional aspects and customer
satisfaction analysis.
This study shows that insurance market is mainly ruled by 5 players LIC, ICICI
Prudential, Birla SunLife, Bajaj Allianz, and HDFC Standard life. LIC, ICICI Prudential,
have major market share in this segment. Survey has been undertaken for ICICI
Prudential, which takes into various aspects like Customer awareness, Customer
perception and feedback from them. The study shows ICICI Prudential have maximum
share among private insurance sector.
I have recommended future option plan for insurance policy business of ICICI Prudential
which can be helpful to increase customer base and to retain customers.
Concentrate more on Brand awareness.
Local toll free customer care no. should be there to solve the queries and
problems as well as for new inquiry of the customer.
Company should provide promotional programs and schemes.
Increase the advertisement tools.
Satisfying the existing customers.
Aggressive advertisement campaign should be adopted in order to attract
customers.
Create awareness about different insurance plans of the company.
More consciousness should be created among the customers about the benefit of
ICICI Prudential.
Attract customers by offering low premium plans of the policies.
Research Methodology used for this project is survey method and also going directly on
to the field. The research methodology used is descriptive research. The analysis is done
through various graphical representations for simplicity of understanding.
According to survey LIC is largest share holder in this segment. And ICICI Prudential is
second largest company in the insurance sector. Work processes in both insurance
companies are very different. ICICI Prudential is having potential to compete with LIC
but they need to improve their working style and process.
The main idea of the project is to carry out a research for the The Awareness Level
of Life Insurance of ICICI Prudential Private Ltd.. ICICI Prudential is the
largest private insurance company and second largest insurance in India after LIC. 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.
The project was done in various phases.
• The first phase comprises gathering information related to the product and
population,
• In the second phase a survey is to be conducted on customers of Pune region
through direct questionnaire,
• The findings and representation of the research is done in the third phase.
• And in the last phase all the findings and analysis along with conclusions and
Recommendation has been submitted in report format for further use.
INDUSTRY PROFILE
INDUSTRY PROFILE
The Indian insurance company is going through a boom phase. The service delivery
standards are improving. Through out the world. The agent has played a vital role
insurance selling and the Indian insurance market is no exception to this. Although the
Indian insurance market has witnessed a steady and phenomenal in terms of the policies
sold, it is unfortunate that the real speed of insurance awareness has not been achieved.
The basic concepts of insurance is not minimization or risk, but to arrange for
compensation of risk. A person who opts for a insurance policy , be in life or general is in
a way trying to compensate the expected losses which he or she may face in case of
happening of an event. The basic purpose of insurance is not to earn profits but hedging
against expected losses.
In India, insurance is generally considered as a tax- saving device instead of its other
implied long – term financial benefits.
Indian people are prone to investing in properties and gold followed by bank deposits.
They selectively invest in shares also, but the percentage is very small, 4-5% Even to this
day, Life Insurance Corporation of India dominates Indian insurance sector.
There are four types of Indian insurance business: life, fire, marine, and miscellaneous. In
life insurance more than 80% business relates to endowment assurance and money back.
In all, there are 18 players (12 life insurance and 6 general insurance) in the Indian
insurance industry. However, the life insurance business has witnessed considerable
growth because of the increasing customer awareness and better marketing strategies by
insurance players. In the last two, decades, the number of nuclear families, both in urban
and rural areas has gone u leading to increased need for life coverage for the bread
winner and this has results in a moderate growth of business.
With a population of more than one billion the Indian market is no doubt one of the
biggest markets in the world. Though the sector has been opened for private participation
just a few years age, it has already witnessed a severe competition among the players.
HISTORY OF LIFE INSURANCE PROFILE
Security and constant search for security have been the underlying endeavors of human
race since the beginning of the civilization. Right from the Stone Age man to the modern
it personality, this search for security has brought out innovate ideas. Somewhere along
the line was born the ideas of insurance as a business principle.
The modern concepts of life insurance have their origin in the efforts of a few shipping
merchants of Italy of 12th century a.d. when the ships laden with the merchandise of their
country left the Italian shores, they all faced the same risk of getting lost on the high seas.
Dangers were many. Ship construction was still primitive and facing tough waters was
adventures. Navigation routs depended on the positioning of stars. Compared to present
day standards, communications, while on sea were non- existent. In emergencies, their
was no way of sending a distress signal. There were Indian dangers like icebergs, which
even 20th - century titanic could not confront and has to succumb. Added to this was the
risk of being taken over pirates. Ships, which luckily returned safe, which luckily
returned safe, made their masters very rich. Those that did not return pauperized their
owners. Which ship will find a safe return passage and which will not was uncertain. The
merchants , therefore decided to create common fund into which all of them contributed
money. Whenever a merchant suffered a ship- loss, he was money out of that fund to
mitigate the loss. Thus was born the basic principle of insurance to offshoot the above
described risks and uncertainties. The first type to emerge was naturally marine
insurance. It was then extended to other areas of human business activity like property,
life and liability.
The flag of life insurance reached Indian shores during the rule by East Indian Company.
We cannot , at the same time, forget that our own society had already developed potential
instruments to provide social security in the shape of “joint-family” whose utility cannot
be underestimated. When the modern concepts of insurance were not known, the joint
family system in our country looked after all members, widows and orphaned children,
very effectively. But with the slow but steady abuse and disintegration of that system,
emergence of life insurance became the inevitable alternative to provide social security to
the families of deceased individuals.
GROWTH OF LIFE INSURANCE SECTOR
The life insurance industry clocked 49 % growth in new business, while general
insurance players saw 16 % increase in April, the first month of the current financial
year.
Strong performance by LIC, ICICI prudential and Sbi life helped the 16 player – strong
life insurance industry to mop up Rs. 2,982 crore in April this year compared with Rs.
1,966 crore collected in the same last year, according to data compiled by the IRDA.
However, some life insurance such as Bajaj Allianz, Ing vysya life and reliance life saw a
decline in premium collections during the period under review.
The 15 private players together saw their business grow 32% to Rs. 848 crore with a
marketing share of 28.44 %
On the rise
Insurers Premium (Rs. Cr.)
ICICI prudential 271.00
Bajaj Allianz 124.00
Sbi life 90.00
HDFC std 70.00
Max Newyork life 69.00
Tata Aig 48.00
Aviva 39.00
Reliance life 33.00
Birla sunlife 28.00
Kotak Mahindra old mutual 26.00
Ing vysya 22.00
Net life 19.00
Shriram life 4.50
Sahara life 1.70
Bharti Axa life 0.72
ICICI prudential topped the private chart with its premium income rising 84.5%to Rs271
crore and had 9.08% share of the marketing bazaar Allianz which saw 15% deadline in
business, collected Rs124 crore with a market share of 4.16%.
ICICI prudential life insurance firm has garnered retail new business premium of Rs6684
crore till march 31, registering a growth of 68% over the last year, a top official said.
The company has raised retail new business premium of Rs 6684 crore for the fiscal
ended march 31, companies vice – president Poonam bhardwaz told a reporters here
today. Adding that ICICI prudential has underwritten nearly 3 million retail policies
during the period. During the period, ICICI prudential life’s capital stands at Rs 37.72
billion.
ICICI prudential life has one of the largest distribution networks among private life
insurers in India. It has over 952 branches in addition to 1004 micro-offices and an
advisor base of 291,000 in the country, she said adding in Rajasthan alone there were 187
micro-offices for rural people.
COMPANY PROFILE
COMPANY PROFILE
ICICI Prudential is a joint venture between ICICI bank and Prudential Plc engaged in
the business of life insurance in India. ICICI Prudential is the largest private insurance
company and second largest insurance in India after LIC. 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 Prudential Life's capital stands at Rs.
37.72 billion (as on March, 2008) with ICICI Bank and Prudential plc holding 74% and
26% stake respectively. For the year ended March 31, 2008, the company garnered Retail
New Business Weighted premium of Rs. 6,684 crores, registering a growth of 68% over
the last year and has underwritten nearly 3 million retail policies during the period. The
company has assets held over Rs. 30,000 crore as on April 30, [Link] Prudential Life
is also the only private life insurer in India to receive a National Insurer Financial
Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest
rating, and is a clear assurance of ICICI Prudential's ability to meet its obligations to
customers at the time of maturity or [Link] the past seven years, ICICI Prudential
Life has retained its leadership position in the life insurance industry with a wide range of
flexible products that meet the needs of the Indian customer at every step in life.
ICICI Prudential website
Since the liberalization of Indian Insurance sector, ICICI Prudential Life Insurance has
been one of the earliest private players. Since the time, ICICI Pru Life has been the leader
in terms of market share as indicated by the IRDA (Insurance Regulatory and
Development Authority, the regulator for Indian Insurance Industry) at its website.
Arguably the most innovative Indian Life insurer in terms of customer services and
products, ICICI Prudential has one of the largest distribution and servicing network with
over 2,000 proprietary offices & customer touch points across India. The 30,000
employee strong organization has one of the largest agency distributions in the industry.
With a growing product range to match the complex needs of the demanding customers
in a growing economy, the organization also has a history of successful.
During 2007-08, the organization's focus on rural business has proved its complex project
execution capability and strong partnerships for customer servicing.
In June, 2009 ICICI Prudential Life Insurance has decided to snap its tie up with TTK
Healthcare to settle insurance claims of its users.
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY
Insurance Regulatory & Development Authority is regulatory and development authority
under Government of India in order to protect the interests of the policyholders and to
regulate, promote and ensure orderly growth of the insurance industry. It is basically a ten
members' team comprising of a Chairman, five full time members and four part-time
members, all appointed by Government of India. This organization came into being in
1999 after the bill of IRDA was passed in the Indian parliament.
Powers and Functions of IRDA
• It issues the applicants in insurance arena, a certificate of registration as well as
renewal, modification, withdrawal, suspension or cancellation of such
registrations.
• It protects the interests of the policy holders in any insurance company in the
matters related to the assignment of policy, nomination by policy holders,
insurable interest, and resolution of insurance claim, submission value of policy
and other terms and proposals in the contract.
• It also specifies obligatory credentials, code of conduct and practical instructions
for mediator as well as the insurance company. Apart from this, it also defines the
code of conduct for the surveyors and loss assessors involved with the insurance
business.
• One of the major functions of IRDA includes endorsing competence in the
insurance business. Apart from this, upholding and regulating professional
organizations in insurance and re-insurance business is also a major duty of
IRDA.
• IRDA is also entitled to for asking information, undertaking inspection and
investigating the audit of the insurers, mediators, insurance intermediaries and
other organizations related to the insurance sector.
• It is also concerned with the regulation of the rates, profits, provisions and
conditions that may be offered by insurers in respect of general insurance business
if it is not controlled or regulated by the Tariff Advisory Committee.
• It is also entitled to supervise the functioning of the Tariff Advisory Committee.
• IRDA specifies the terms and pattern in which books of accounts are to be
maintained and statement of accounts shall be provided by insurers and other
insurance mediators.
• It also regulates investment of funds by insurance companies as well as the
maintenance of margin of solvency.
• It is also empowered to be involved in the arbitration of disagreements between
insurers and intermediaries or insurance intermediaries.
• It is meant to specify the proportion of premium income of the insurer to finance
policies.
• IRDA also specifies the share of life insurance business and general insurance
business to be accepted by the insurer in the rural or social sector.
Impact Of IRDA On Indian Insurance Sector
The creation of IRDA has brought revolutionary changes in the Insurance sector. In last
10 years of its establishment the insurance sector has seen tremendous growth. When
IRDA came into being; only players in the insurance industry were Life Insurance
Corporation of India (LIC) and General Insurance Corporation of India (GIC), however
in last decade 23 new players have emerged in the filed of insurance. The IRDA also
successfully deals with any discrepancy in the insurance sector.
ROLE OF AGENTS IN THE INSURANCE SECTOR
Insurance business, both life and non – life is procured through individuals who r
appointed as agents. This is one of the most popular ways to produce business among
insurer. An agent is a person licensed by the controller of insurance to do insurance
business. After obtaining the license, agents have to enroll with the insurance company to
be authorized to work as an agent. An agent is trained and qualified to advice on which
policy is best suited for any individual agent help in filling the proposal forms; submitting
it is the insurance company. Sometimes agents do remind policy holder from time to time
about when one is supposed to pay the premiums, or renewals. Agents also play an
important role in assisting the insured in completing the formalities for the claims.
OBJECTIVES OF THE
RESEARCH
OBJECTIVES OF THE RESEARCH
For a successful research, defining the objective is very important because it makes clear
for the researcher the problem and the ways to find the solutions for it. This project was
carried to as ascertains the importance of ICICI Pru. In the market.
The objective of this project can be categorized in two parts.
Primary Objective:-
Primary Objective is to know the awareness of ICICI Prudential Life insurance among
people.
Secondary Objective:-
To know the peoples perception about the ICICI Prudential life insurance.
To know why people are taking ICICI Prudential life insurance policies.
To know the response of customers who are taking ICICI Prudential policies.
To find out scope and brand awareness among targeted people taking in accounts
their needs and requirements.
To analyze and identify the potential market segment for insurance industry.
To study and compare the performance of ICICI Prudential Vs competitors in
Pune.
RESEARCH
METHODOLOGY
RESEARCH METHODOLOGY
Research may be defined as the research for knowledge through an objective
methodology is way to systemically solve the research problem. It includes the various
steps that are generally adopted by a researcher. I have adopted the research design.
RESEARCH DESIGN
A research design is the specification of the method and procedures for acquiring the
information needed. According to this research design has performed the following steps
in the project.
STEPS
To decide the objective and sub objective of the research.
To determine the most suitable method of research.
To determine the source of data.
To decide the appropriate research instrument of data collection.
To determine the suitable sampling design and sample size.
To conduct the field survey for data collection.
To process and analyze the data.
To prepare the research report.
The purpose of this section is to describe the research procedure. This includes the
overall research design (type of research), sampling techniques, sample size, sample
description, instrumentation techniques, actual collection of data, plan of analysis, field
work.
PLAN OF ANALYSIS
The data collected from the respondents were organized, processed and tabulated.
The tables thus obtained were analyzed with the help of statistical techniques,
average and percentages in order to interpret data and draw conclusions.
FIELD WORK
The field work was conducted broadly in Pune City. Interviews were conducted for
customers of Life insurances in places like colleges, business establishments etc.
The interview lasted duration of 15 minutes.
SOURCES OF DATA
The data collected for this study was collected from various sources. They were
mainly collected from both primary and secondary sources.
Primary Data
Data from primary source was collected through structural questionnaire. Questionnaire
schedule was made use of, to collect the primary data.
The questionnaire was an important primary source of data. The raw data was
assimilated and edited before tabulation. The data was further organized, processed and
tabulated.
Secondary Data
Secondary data was collected from journals, dailies, literature, company profiles and
various magazines and newspapers.
SAMPLING UNIT THE
The most likely customers of ICICI Pru. were identified in the City of Pune. They
include generally all category of customers from the age group between 16-50 .
THE SAMPLE SIZE
The sample size of customers was 30. It was seen that all type of age group was a
part of the sample and that the sample was not biased, considering only a particular
age group.
THE SAMPLING PROCEDURE
The population of this country is very large, so it was decided to do simple survey
rather than census study. The Stratified sampling method was adopted to obtain the
cost accurate information.
RESEARCH METODOLOGY
DATA COLLECTION: Primary data, Secondary data.
PRIMARY DATA: Market survey
SECONDRY DATA: Company records, Websites
RESEARCH INSTRUMENT: Questionnaires.
CONTACT METHOD: By making personal contacts within the framed
Questionnaires.
ANALYSIS
AND
INTERPETATION
ANALYSIS AND INTERPETATION
1. People having different insurance plan
Types of plans No. of references
Traditional plan 10
ULIP plan 13
Health plan 7
People having differnet insurance plans
24%
32%
Traditional plan
ULIP plan
Health plan
44%
Interpretation:-
The result shows that 44% people have ULIP plan, 32% people have Traditional plan and
24% people have Health plan.
2. Preferred insurance company by the customers
NAME OF THE COMPANY No. OF REFERENCES
LIC 19
ICICI prudential 3
BIRLA SUNLIFE 1
BAJAJ ALLIANZ 1
SBI LIFE INSURANCE 1
HDFC STANDARD 2
TATA AIG 1
MAX NEW YARK 1
AVIVA 1
OM KOTAK MAHINDRA 0
ING VYSYA 0
MET LIFE 0
Preferred insurance company by the customers
LIC
ICICI prudential
BIRLA SUNLIFE
BAJAJ ALLIANZ
SBI LIFE INSURANCE
HDFC STANDARD
TATA AIG
MAX NEW YARK
AVIVA
OM KOTAK MAHINDRA
ING VYSYA
MET LIFE
Observation:-
Most of the customers have LIC that is 64% and only 10% people have ICICI prudential
life insurance.
3. Awareness about ICICI Prudential life insurance.
RESPONSE No. OF RESPONSE
Yes 28
No 2
Awareness about ICICI Prudential Life Insurance
94%
Yes
No
6%
Interpretation:-
94% people are aware about ICICI Prudential life insurance and only 6% don’t know
about this company.
4. Awareness through different sources.
SOURCES No. OF RESPONSE
Newspapers 12
Advertisements 8
Hoardings 3
Friends 5
Others 2
Awareness through different sources
6%
15%
Newspapers
41% Advertisements
10% Hoardings
Friends
Others
28%
Interpretation:-
41% people are aware through Newspapers, 28% people are aware through
Advertisement, 10% through Hoardings, 15% through Friends and 6% people through
other sources.
5. Reasons for opting ICICI Prudential
FEATURES No. OF RESPONSE
Affordable Premium 7
Good Services 10
Easy Avaibility 9
Special Offers from Co. 4
Interpretation:-
Most of the people have ICICI Prudential because of providing good services and easy
availability.
6. Plan opted by different customers.
PLANS No. OF RESPONSE
Traditional plan 10
ULIP plan 14
Health plan 6
Plan opted by different customers
19%
34%
Traditional plan
ULIP plan
Health plan
47%
Interpretation:-
Most of the people goes for ULIP plan that is 47%, then secondly for Traditional plan
that is 34%, then lastly for Health plan that is 19%.
7. Factors influencing to take different plans.
FACTORS No. OF RESPONSES
Low Premium 3
Offers Provided 13
Customer Relationship 10
Others 4
factors influencing to take different plans
13
18
16 Low Premium
10
14
Offers Provided
12
10 Customer Relationship
8
4 Others
6 3
4
2
0
1
Interpretation:-
Most of the people attract through offers provided by the ICICI Prudential company i.e,
44%, 32% people attract through customer relationship of the company.
8. Rating of various plans offered by ICICI Prudential life
Insurance
RATINGS No. OF RESPONSES
Excellent 6
Good 13
Average 5
Poor 4
Very poor 2
Rating of various plans of ICICI Pru.
7%
16%
14%
20%
43%
. Excellent Good Average Poor Very poor
Interpretation:-
According to most of the people, plans offered by ICICI Prudential is good and only 14%
people rate this company is poor and not up to the mark.
9. People already having policies of different companies before
ICICI Prudential.
RESPONSES No. OF RESPONSES
Yes 23
No 7
Already having policy before ICICI Prudential
24%
Yes
No
76%
Interpretation:-
76% of peoples were having policies of different companies before taking ICICI
Prudential policies.
[Link] ICICI Prudential, people were having these companies
policies.
NAME OF THE COMPANY No. OF RESPONSES
LIC 23
AVIVA 1
Bajaj Allianz 2
Others 4
Before ICICI Pru customers having these companies policies
14%
5%
4% LIC
AVIVA
Bajaj Allianz
Others
77%
Interpretation:-
Before ICICI Prudential, 77% of people were having LIC, 4% Aviva, 5% Bajaj Allianze
and 14% other companies’ policies.
11. Reasons behind switching over to ICICI Prudential life insurance.
REASONS No. OF RESPONSES
Attractive Premium 5
New Schemes 15
Positive Feedback of ICICI 6
Others 4
Reasons behind switching over ICICI Pru.(%)
50
50
45
40
35 Attractive Premium
30 20 New Schemes
25
Positive Feedback of ICICI
20 17
13
15 Others
10
5
0
1
Interpretation:-
People switch over ICICI Prudential life insurance because of new schemes provided by
them and positive feedback from others who used ICICI prudential.
FINDINGS
FINDINGS
NAME OF THE PLAYER MARKET SHARE (%), As per year 2008-09
NAME OF THE PLAYER MARKET SHARE
LIFE INSURANCE CORPORATION OF INDIA 82.3
ICICI prudential 5.63
BIRLA SUNLIFE 2.56
BAJAJ ALLIANZ 2.03
SBI LIFE INSURANCE 1.8
HDFC STANDARD 1.36
TATA AIG 1.29
MAX NEW YARK 0.9
AVIVA 0.79
OM KOTAK MAHINDRA 0.51
ING VYSYA 0.37
MET LIFE 0.21
Source:- [Link]
M AR K E T S H AR E O F D IFFE R E N T P LAY E R S
Life insurance
corporation of India
ICICI prudential
BIRLA SUNLIFE
BAJAJ ALLIANZ
SBI LIFE INSURANCE
HDFC STANDARD
TATA AIG
M AX NEW Y ARK
AVIVA
O M KO TAK M AHINDRA
ING VY SY A
M ET LIFE
LIMITATIONS
LIMITATIONS
Some of the people were not understand the importance of survey, which
hampered the actual calculation.
Many of the respondents may be biased, which may hamper the findings of this
survey.
The area of operation was quite wide, thus it was difficult to have a proper and
equal reach in the area.
Number of respondent were 30 which is small sample size and cannot conclude
people views about this topic.
Due to heavy expenditure of money on the collection of data, this research could
not done efficiently.
There was lack of communication between me and respondents due to non
availability of communication resources.
Due to lack of time, the survey of some area was missed.
RECOMMENDATIONS
RECOMMENDATIONS
Company should provide promotional programs and schemes.
Increase the advertisement tools.
Satisfying the existing customers.
Aggressive advertisement campaign should be adopted in order to attract
customers.
Create awareness about different insurance plans of the company.
More consciousness should be created among the customers about the benefit of
ICICI Prudential.
Attract customers by offering low premium plans of the policies.
CONCLUSIONS
CONCLUSIONS
From this market research it has been seen that awareness level of customers
about life insurance in Pune is high.
ICICI Prudential life insurance is well established company and the brand
awareness among the people is high.
ICICI Prudential life insurance is not the market leader in the insurance sector but
it has forced to become market leader, for that they have a long way to go
ICICI Prudential is the second Largest insurance company in India..
BIBLIOGRAPHY
BIBLIOGRAPHY
Marketing Management - By Philip Kotler
Research Methodology - By C.R Kothari
Hand book, Brochure provided by marketing division of ICICI Prudential
Website
[Link]
[Link]
ANNEXURES
ANNEXURES
1. Name : ………………………………………….
2. Age : .…………………………………………
3. Sex
a. Female [ ] b. Male [ ]
4. Occupation :
a. Student [ ] b. Business [ ]
c. Doctor [ ] d. Others [ ]
5. Please specify your monthly income
a. Below 3000 [ ] b. 3000 to 10000 [ ]
c. 10000 to 20000 [ ] d. Above 20000 [ ]
6. Do you have Insurance policy, If yes then which type of Insurance
policy do you have?
a. Traditional plan [ ] b. ULIP plan [ ]
c. Health plan [ ]
7. Which company’s insurance policy do you have?
a. c.
b. d.
8. Are you aware of ICICI prudential life insurance?
a. Yes [ ] b. No [ ]
9. How did you come to know about ICICI prudential life insurance?
a. Newspapers [ ] b. Advertisements [ ]
c. Hoardings [ ] d. Friends [ ]
Others ……………………..
10. Which of the following features made you opt for ICICI prudential?
a. Affordable Premium [ ]
b. Good Services [ ]
c. Easy Availability [ ]
d. Special Offers from Co. [ ]
11. Which plan of ICICI prudential life insurance have you opted?
. a. Traditional plan [ ] b. ULIP plan [ ]
c. Health plan [ ]
12. Which of the following factors influenced you most to opt for the above
plan?
a. Low Premium [ ] b. Offers Provided [ ]
c. Customer Relationship d. Others …………………
13. How do you rate the various plans offered by ICICI prudential?
a. Excellent [ ] b. Good [ ]
c. Average [ ] d. Poor [ ]
e. Very poor [ ]
14. Before having ICICI prudential life insurance, were you having life
insurance of any other Company?
a. Yes [ ] b. No [ ]
15. If yes, please specify the insurance company .
a. LIC [ ] b. AVIVA [ ]
c. Bajaj Allianz [ ] d. Others …………………
16. Please specify your reasons for switching over ICICI prudential?
a. Attractive Premium [ ]
b. New Schemes [ ]
c. Positive Feedback from others who used ICICI prudential.[ ]
d. Others (Please Specify) ……………………
17. Are you satisfied with the services of ICICI prudential?
a. Yes [ ] b. No [ ]
18. Are the ICICI prudential branches available in close proximity?
a. Yes [ ] b. No [ ]
19. Any suggestions for ICICI prudential life insurance
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