2. OVERVIEW It was established in 1955 by world bank Capital structure Authorized Capital- 2.3 billion Paid up Capital- 1.9 billion 74% stake with ICICI 26% stake with prudential plc. U.K It is subsidiary of ICICI ltd. Its presence in life as well as in general insurance
3. Contd….. Largest private player in life insurance in India Growth Rate: 260% No. 1 Insurance Company ICICI Prudential’s distribution channel is simple Cash discount doesn’t allow They follow vertical dimension communication They also provide training to their Financial Advisors
4. MARKETING HIERARACHY CEO Regional Manager Zonal Manager Branch Manager Territory manager Assistance Manager Agency Manager Unit Manager Insurance Advisor
5. OBJECTIVES OF SALES MANAGEMENT Sales volume Contribution to profits Continuing growth
7. DIFFERENT SCHEMES OF ICICI Save 'N' Protect Cash Bak Smart Kid Life Guard Life link Life time Forever life Life time pension
8. Life link pension Secure plus Cash plus Assure invest Reassurance ICICI PruMitr Suraksha
9. RIDERS Provides added protection against specific risk at little extra cost Features It is attached with main policy It can’t be discounted without terminating base policy The combined premiums of all riders attached to a policy can’t be a greater than 30% of the premium of the basic plan. Riders are pure risk covers and hence have no maturity benefits.
10. RIDERS OF ICICI The Critical Illness Benefit Riders. The Major Surgical Assistance Riders. The Accident and Death benefit Riders. Accident benefit Rider. The income Benefit Rider. The Waiver of Premium Rider.
11. PRICING POLICY Mortality rate Administrative cost Profit margin Inflation rate National and international business environment Government regulation
13. RECRUITMENT, SELECTION AND TRAINING OF F.A Unit manager takes an preliminary interview Screening is done in this stage Trainer Financial advisor Online training Product training Lecture Demonstration Role playing