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Since the evolution of mankind, the need for biological and physical
fulfilment has emerged. Over the long span of development of mankind there is a very
th
high advancement in technological and industrial growth. In the beginning of 20
century, World has faced two major revolutionary wars World War I and World War
II. These have changed the world into global village gradually.
Needs are generally classified into protection needs and investment needs. Protection
needs refers to the needs that have to be primarily taken care of, to protect the living
standard , current requirements and survival requirements of investors. Need for
regular incomes, need for retirement income and need for insurance cover are
protection need. Investment needs are additional financial needs that have to be
served through saving and investment. These are needs for children s education,
hosing and childrens professional growth.
In Indian insurance sector was totally reserved for public sector companies like LIC,
GIC etc. with the opening up of the economy, a score of MNCs have come in the
market with Indian business houses resulting in client friendly, healthy competition
and rivalry in the insurance sector. Good old days have gone, where only LIC agents
were seen knocking doors of potential clients.
The policies floated by the government insurance companies where primarily meant to
cover risk but in todays market, the policies are having predominantly a major part of
investment option with high rate of return.
One of the major challenge for all private companies is to develop a strong sales team,
since LIC who enjoyed a monopoly in this sector before it was opened for private
players has a network of 2,50,000 agents.
INDIA AT A GLANCE
GDP growth rate : Over 7.5% per year on an average for the
last decade
Life Insurance Sector acts as a backbone of any economy. This sector polls large
funds from masses and then invests in the infrastructure projects as well as other long
term projects, which will generate a regular income flow in the coming years.
Traditionally life insurance was taken just as a security product but now it is gaining
importance as an investment product. Hence, now if you want to sell life insurance
product to anyone, you have to analyze his/her life stage, risk preference, priorities
and then suggest the appropriate product to that investor.
The insurance sector needs a great deal of financial planning, knowledge, as well as
knowledge about other financial products and their current markets so that we can
compare those products with the insurance product and convince the client. Insurance
companies also have to manage their investment in such a way that the principal
amount should not erode, and the investor should get assured returns which the
company has promised. This involves a great deal of knowledge about portfolio
management and hedging of risk. Thus this would give us great exposure to financial
markets as well as the intricacies of different financial institutions, how they work and
what difficulties they face.
REASONS FOR SELECTION OF ICICI PRUDENTIAL FOR
THE RESEARCH
ICICI Prudential ranks as number one amongst the private life insurance players.
There is vast potential for this company in Indian market. ICICI Prudential is moving
really fast to capture untapped market and it is expanding its operations in different
regions in India. The company not only stands No. 1 but also treats its employees as
No.1. No other company provides rewards and recognition to their employees and
advisors as done by ICICI Prudential. The culture of ICICI Prudential is like a Hindu
Undivided Family. It worked on the fundamental of building relations. As we look as
current performance and future targets laid down by ICICI Prudential, it brings in our
mind the words of the great poet :
Hence we firmly believe we could not get better exposure to life insurance if we
would not have joined ICICI Prudential.
ICICI Prudential life insurance company limited is one of the leading insurance
companies in the private sector. Also it was the private sector company in India to
enter the business of insurance.
Insurance Regulatory and Development Authority The
Watch Dog
On 19th April 2000, the Authority has been notified in the Gazette of India in terms of
Insurance Regulatory and Development Authority Act, 1999 The Authority has also
been constituted.
Mission
To protect the interests of the policyholders, to regulate, promote and ensure orderly
growth of the insurance industry and for matters connected therewith or incidental
thereto.
KEY PLAYERS IN THE MARKET
Here below who are the key players in the insurance market are shown with their
Market share.
I should say that after LIC the next rank goes to ICICI Prudential life
insurance and it is 6. 7% and it is increasing day by day. So as the present
situation now LIC day by day loosing their market share because of the
private players in the market.
Life insurance in India
D Insured
uninsured
ANALYSIS
ICICI Prudential Life Insurance Company Limited was incorporated on July 20, 2000.
The authorized capital of the company is Rs.2300 Million and the paid up capital is
Rs. 1500 Million. The Company is a joint venture of ICICI (74%) and Prudential plc
UK (26%).
The Company was granted Certificate of Registration for carrying out Life Insurance
business, by the Insurance Regulatory and Development Authority on November 24,
2000. It commenced commercial operations on December 19, 2000, becoming one of
the first few private sector players to enter the liberalized arena.
Till March 31,2002 the Company has issued 100,000 polices translating into a
Premium Income of around Rs. 1,200 Million and a sum assured of over Rs.15,000
Million.
The Company recognizes that the driving force for gaining sustainable competitive
advantage in this business is superior customer experience and investment behind the
brand. The Company aims to achieve this by striving to provide world class service
levels through constant innovation in products, distribution channels and technology
based delivery. The Company has already taken significant steps to achieve this goal.
ICICI Ltd
ICICI Ltd was established in 1955 by the World Bank, the Government of India and
the Indian Industry, to promote industrial development of India by providing project
and corporate finance to Indian industry.
ICICI Bank is Indias second largest bank and largest private sector bank with over
50 years of finacial experience and with assets of Rs. 1812.27 billion as on
30t
june, 2005. ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of delivery channels and
through its specialized subsidiaries and affiliates in the areas of investment banking, life
and non-life insurance, venture capital and asset management. ICICI Bank is a leading
player in the retail banking market and has over 13 million retail customer accounts. The
Bank has a network of over 570 branches and extension counters, and
2,000 ATMs.
Prudential plc:
Prudential plc was founded in 1848. Since then it has grown to become one of the
largest providers of a wide range of savings products for the individual including life
insurance, pensions, annuities, unit trusts and personal banking. It has a presence in
over 15 countries, and caters to the financial needs of over 10 million customers. It
manages assets of over US$ 259 billion (Rupees 11,39,600 crores approx.) as of
December 31, 1999. Prudential plc. has had its presence in Asia for the past 75 years
catering to over 1 million customers across 11 Asian countries.
Established in London in 1848, Prudential plc, through its businesses in the UK and
Europe, the US and Asia, provides retail financial services products and services to
more than 16 million customers, policyholder and unit holders worldwide. As of
June 30, 2004, the company had over US$300 billion in funds under management.
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 the leading European life
insurance company with a vast network of 24 life and mutual fund operations in 12
countries - China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the
Philippines, Singapore, Taiwan, Thailand and Vietnam.
Corporate Office:
30
MANAGEMENT
Board of Directors
The ICICI Prudential Life Insurance Company Limited Board comprises reputed
people from the finance industry both from India and abroad.
Management Team
Core values
Integrity
Customer First
Boundryless
Ownership
Passion
CUSTOMER FIRST
OWNERSHIP
If it is to be, it is up to me.
Take responsibility and see task through completion.
Own mistakes, learn from failures.
Pursue goals relentlessly, never give up.
Be a team player, take ownership for a team performance.
PASSION
THE COMPANY
DISTRIBUTION
ICICI Prudential has recruited and trained more than 65,000 insurance
advisors to interface with and advise customers. Further, it leverages its state-of-the-
art IT infrastructure to provide superior quality of service to customers.
Equity holding of company
74%
80%
70%
60%
50% 26%
Percentage 40%
30%
20%
10%
0%
ICICI BANK PRUDENTIAL
company name
PRODUCTS
Savings Solutions
Premier Life: Premier Life is a limited premium paying plan that offers customers
life insurance cover till the age of 75.
InvestShield Cash :
InvestShield Cash is a Market Linked plan that provides capital guarantee on the
invested premiums and declared bonus interest along with flexible liquidity options.
InvestShield Gold :
InvestShield Gold is a Market Linked plan that provides capital guarantee on the
invested premiums and declared bonus interest along with limited premium payment
terms.
Child Plans
As a responsible parent, you will always strive to ensure a hassle-free, successful life
for your child. However, life is full of uncertainties and even the best-laid plans can
go wrong. Heres how you can give your child a 100% safe and assured tomorrow,
whatever the uncertainties. SmartKid is especially designed to provide flexibility and
safeguard your childs future education and lifestyle, taking all possibilities into
account.
SmartKid regular premium
SmartKid unit-linked regular premium
SmartKid unit-linked regular premium II
SmartKid unit-linked single premium II
Retirement Solutions
Life Expectancy has been rising rapidly and today you can expect to live longer than
your earlier generations. For you, this increase will mean a longer retirement life,
stretching into a couple of decades. Retirement Solutions combine the best of
insurance and investment. These solutions are developed to ensure your peace of
mind for the years to come.
Golden years
It is a flexible unit-linked retirement solution that offers flexibilities during the
accumulation as well as payout phase.
Link Pension II
A single premium linked pension plan that gives you the freedom to choose the
amount of premium, and invest in market-linked funds, to generate potentially higher
returns.
ForeverLife
A regular premium pension plan that helps you save for your retirement while
providing you with life insurance protection.
ForeverLife
LifeTime Pension II
LifeLink Pension II
InvestShield Pension
Golden Years:
Golden Years is a limited premium paying retirement solution that offers tax benefits
up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and payout stages.
Health Solution
Health Assure:
Health Assure is a regular premium plan which provides long term cover against 6
critical illnesses by providing policyholder with financial assistance, irrespective of
the actual medical expenses.
Health Assure Plus is a regular premium plan which provides long term cover against
6 critical illnesses by providing financial assistance, irrespective of actual medical
expenses, as well as an equivalent life insurance cover.
Group Insurance Solutions
ICICI Prus group gratuity plan helps employers fund their statutory gratuity
obligation in a scientific manner. The plan can also be customized to structure
schemes that can provide benefits beyond the statutory obligations.
ICICI Prus flexible group term solution helps provide affordable cover to members
of a group. The cover could be uniform or based on designation/rank or a multiple of
salary. The benefit under the policy is paid to the beneficiary nominated by the
member on his/her death.
10
SWOT ANALYSIS
Strength
st
1. ICICI Prudential is the 1 life insurance company to introduce UNIT LINKED,
PENSION PRODUCTS AND LIFE TIME it can get the pioneer advantage.
2. Prudential is the 156 year old company founded in 1848 so it has full fledge
experience in this industries.
3. Large distribution channel with 30 branches and more than 30,000 financial
advisors.
4. The financial condition of both companies is very sound.
5. Company has created a brand name.
Weaknesses
1. Up till one no more option of product for middle class offered by ICICI
Prudential.
2. No option in rural area.
3. Yet to build a strong distribution network in the market.
Opportunity
1. Today ICICI Prudential covers 40% Market so yet there is a great potentiality to
increase market share.
2. Insurance plan like pension plan, child plan and investment plan of ICICI
Prudential go good response from the market. So in future company can take
benefit for it.
3. Untapped market of India.
Threats
1. It is private company so there is a doubt about solvency and liquidity among the
general people.
2. Change in the environmental factors many affects the company.
3. The government policies and the annual budget may the insurance market.
11
What Is Insurance
Being a social animal and risk averse, man always tries to reduce risk. An age-old
method of sharing of risk through economic cooperation led to the development of the
concept of insurance.
Insurance is not necessarily an investment from which one expects to get one's money
back. Nor is it gambling. A gambler takes risks, while insurance offers protection
against risks that already exist. Insurance is a way to share risk with others. Since
ancient times, communities have pooled some of their resources to help individuals
who suffer loss.
Insurance is a contract between two parties whereby one party called insurer
undertakes in exchange for a fixed sum called premiums, to pay the other party
called insured a fixed amount of money on the happening of a certain event.
For example, in a Life Policy, by paying a premium to the Insurer, the family of the
12
insured person receives a fixed compensation on the death of the insured.
Similarly, in a car insurance, in the event of the car meeting with an accident, the
insured receives the compensation to the extent of damage. It is a system by which the
losses suffered by a few are spread over many, exposed to similar risks. Insurance is
desired to safeguard oneself and one's family against possible losses on account of
risks and perils. It provides financial compensation for the losses suffered due to the
happening of any unforeseen events.
By taking life insurance a person can have peace of mind and need not worry about
the financial consequences in case of any untimely death.
Certain Insurance contracts are also made compulsory by legislation. For example,
Motor Vehicles Act 1988, stipulates that a person driving a vehicle in a public place
should hold a valid insurance policy covering Act risks.
13
Principles of Insurance
Insurable Interest
Before you can insure anything, you must have a legally recognized financial interest
in what you are insuring. For motor insurance, you can't take out an insurance policy
on the car driven by the latest film star in the hope that it will crash and you can
claim. That is nothing more than gambling. But you can insure the car you own, or
drive. You would suffer financially if it is damaged or stolen and benefit from its
continued existence.
Indemnity
This word is used to describe the type of payment you would receive. A motor policy
and a household policy are both a contract of indemnity. It means, subject to the terms
of the contract, you are entitled to be put back in the same financial position after a
loss as you were in before the loss. A refusal to indemnify is a refusal to pay the
claim.
Contribution
If there is more than one policy in force that you could claim on, you can't get
payment from them both that would exceed the value of your loss. So each policy
would contribute a portion of the loss. You would receive the full value of the loss but
no more and the two policies would only bear part of it each.
Subrogation
This is the right that your insurer has to recover from someone else where you are
entitled to do so. For example, if another driver causes damage to your car, and your
insurers pay for it, subrogation gives them the legal right to 'stand in your shoes' and
reclaim their outlay from the responsible driver.
Proximate Cause
When you seek to claim from your insurers for a property or financial loss you must
show that the loss was caused as a result of a peril covered by the policy. There must
be a direct relationship of cause and effect; the cause must be proximate in efficiency
but not necessarily in point of time. There might for example, be a chain of causes in
which each cause is the natural result of the preceding cause. It is the immediate and
not the remote cause which must be considered. The full and classic definition of this
principle is given in case law called 'Pawsey V Scottish Union and National Insurance
Co (1908)'
History of Insurance
Insurance has been around since ancient times. The Babylonians and Phoenicians
had ocean marine insurance to protect a merchant against losses incurred when a ship
did not reach its intended destination with its load of goods or did not return with
payment. This form of insurance, called Respondentia, evolved because the goods on
board often were used as collateral for a loan. The lender charged the borrower
interest on the loan and levied an additional sum, the premium, to cover the cost of
the respondentia contract. If the ship reached its destination and returned, the
merchant received payment for the goods and in turn paid the moneylender. If the
ship failed to return, the debt was cancelled. This system was profitable to lenders
because many respondentia contracts were sold, and debts were paid more often than
cancelled.
In ancient Rome, associations had a form of insurance for their members. Each
member made regular payments to the association in return for coverage of funeral
expenses or for assistance to family members who were injured or ill.
Insurance also existed in 17th-century England, which was then one of the world's
principal maritime powers. Those seeking marine insurance would post a list of their
cargo and voyages in a London coffee house owned by Edward Lloyd. Private
investors would examine the list and sign their name by the entries they were willing
to guarantee for a fee. These private investors were the first insurance underwriters,
and the coffee house became the world center of marine insurance. Today the
organization is known as Lloyds of London, and it brings together individuals, most
often working in syndicates, who write all types of insurance.
Insurance in the modern form originated in the Mediterranean during 14th century.
The earliest references to insurance have been found in Babylonia, the Greeks and the
Romans. The use of insurance appeared in the account of North Italian merchant
banks who then dominated the international trade in Europe at that time. Marine
insurance is the oldest form of insurance followed by life insurance and fire insurance.
The patterns that have been used in England followed in other countries also in these
kinds of insurance
The oldest and the earliest records of marine policy relates to a Mediterranean voyage
in 1347. In the year 1400, a book written by a merchant of Florence, indicates
premium rates charged for the shipments by sea from London to Pisa. Marine
Insurance spread from Italy to trading routes in other countries of Europe.
Fire insurance has its origin in Germany where it was introduced in municipalities for
providing compensation to owners of the property, in return for an annual
contribution, based on the rent of those premises. The fire insurance in its present
form started after the most disastrous fire in human history known as the 'Great Fire'
in London, which had destroyed several buildings. It drew the attention of the public
and the first fire insurance commercially transacted in 1667. The Industrial
Revolution (1720-1850) gave much impetus to fire insurance. The Nineteenth century
marked the development of fire insurance.
Due to the increasing demands of the time, different forms of insurance have been
developed. Industrial Revolution of 19th century had facilitated the development of
accidental insurance, theft and dacoity, fidelity insurance, etc. In 20th century, many
types of social insurance started operating, viz., unemployment insurance, crop
insurance, cattle insurance, etc. This way the business of insurance developed
simultaneously with human and social development. Today, the use of computers in
the field of insurance is frequently increasing. Insurance becomes an inseparable part
of human development.
The early developments of life insurance were closely linked with that of marine
insurance. The first insurers of life were the marine insurance underwriters who
started issuing life insurance policies on the life of master and crew of the ship, and
the merchants. The early insurance contracts took the nature of policies for a short
period only. The underwriters issued annuities and pension for a fixed period or for
life to provide relief to widows on the death of their husbands. The first life
th
insurance policy was issued on 18 June 1583, on the life of William
Gibbons for a period of 12 months.
The history of life insurance in India dates back to 1818 when it was conceived as a
means to provide for English Widows. Interestingly in those days a higher premium
was charged for Indian lives than the non-Indian lives as Indian lives were considered
more riskier for coverage. The Bombay Mutual Life Insurance Society started its
business in 1870. It was the first company to charge same premium for both Indian
and non-Indian lives. The Oriental Assurance Company was established in 1880. The
first general insurance company- Tital Insurance Company Limited, was established
in 1850. Till the end of nineteenth century insurance business was almost entirely in
the hands of overseas companies.
Insurance regulation formally began in India with the passing of the Life Insurance
Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during
20's and 30's sullied insurance business in India. By 1938 there were 176 insurance
companies. The first comprehensive legislation was introduced with the Insurance
Act of 1938 that provided strict State Control over insurance business. The insurance
business grew at a faster pace after independence. Indian companies strengthened
their hold on this business but despite the growth that was witnessed, insurance
remained an urban phenomenon.
The Government of India in 1956, brought together over 240 private life insurers and
provident societies under one nationalized monopoly corporation and LIC was born.
Nationalization was justified on the grounds that it would create much needed funds
for rapid industrialization. This was in conformity with the Government's chosen path
of State- led planning and development.
ORIGIN OF INSURANCE
The concept of insurance is believed to have emerged almost 4500 years ago in the
ancient land of Babylonia where traders used to bear risk of the caravan by giving
loans, which were later repaid with interest when the goods arrived safely.
The business of life insurance in India in its existing form started in India in the year
1818 with the establishment of the Oriental life insurance Company in Calcutta.
Some of the important milestones in the life insurance business in India are:
1912: The Indian life Assurance Companies Act enacted as the first statute to regulate
the life insurance business.
1928: The Indian insurance Companies Act enacted to enable the government to
collect statistical information about both life and non- life insurance businesses.
1938: Earlier legislation consolidated and amended to by the insurance Act with the
objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the
central government and nationalized. LIC formed by an Act of Parliament, viz.
LIC Act, 1956, with a capital contribution of Rs. 5 crore from the
Government of India.
GENERAL INSURANCE
The General insurance business in India, on the other hand, can trace its roots to the
Triton insurance Company Ltd., the first general insurance company established in
the year 1850 in Calcutta by the British.
1907: The Indian Mercantile insurance Ltd. set up, the first company to transact all
classes of general insurance business.
1968: The insurance Act amended to regulate investments and set minimum solvency
margins and the Tariff Advisory Committee set up.
1972: The General insurance Business (Nationalization) Act, 1972 nationalized the
st
general insurance business in India with effect from 1 January 1973.
Prerequisites for Entering into Insurance
Life insurance is one of the important options for the investment alternatives. So,
there is the great need for the evaluation before entering into the insurance and its
investment purpose. Any private player wants to enter into an insurance sector has
to comply with the following requirement without which it will not be considered
eligible for obtaining license.
The prerequisites for entering into the insurance sectors may be described as
follows.
The private sector is allowed to enter insurance sector. The Minimum paid up
capital for new entrants is mentioned below.
Minimum paid up capital for life and non life insurance companies of
Rs. 1 billion.
Minimum paid up capital for reinsurance companies is Rs. 2 billion.
Share Holding
The promoters holding in private insurance company should not exceed 40%
and should, at no time, be less than 26% of the total paid up capital.
No person other than the promoters should be allowed to hold more than 1%
of the equity.
The RBI has stipulated that a minimum of 15% of Capital Adequacy Ratio for
FI to enter in insurance sector.
OVERVIEW OF THE LIFE INSURANCE SECTOR IN INDIA
With largest number of life insurance policies in force in the world, Insurance
happens to be a mega opportunity in India. Its a business growing at the rate of
15-20 per cent annually and presently is of the order of Rs 450 billion. Together with
banking services, it adds about 7 per cent to the countrys GDP. Gross premium
collection is nearly 2 per cent of GDP and funds available with LIC for investments
are 8 per cent of GDP.
Yet, nearly 80% of Indian population are without life insurance cover, health
insurance and non-life insurance continue to be below international standards. And
this part of the population is also subject to weak social security and pension systems
with hardly any old age income security. This itself is an indicator that growth
potential for the insurance sector is immense.
With a large capital outlay and long gestation periods, infrastructure projects are
fraught with a multitude of risks throughout the development, construction and
operation stages. These include risks associated with project implementation,
including geological risks, maintenance, commercial and political risks. Without
covering these risks the financial institutions are not willing to commit funds to the
sector, especially because the financing of most private projects is on a limited or
non- recourse basis.
Insurance companies not only provide risk cover to infrastructure projects, they also
contribute long-term funds. In fact, insurance companies are an ideal source of long
term debt and equity for infrastructure projects. With long term liability, they get a
good asset- liability match by investing their funds in such projects.
IRDA regulations require insurance companies to invest not less than 15 percent of
their funds in infrastructure and social sectors. International Insurance companies also
invest their funds in such projects.
DEVELOPMENTS IN INSURANCE SECTOR
Insurance has been and continues to be a government monopoly. For instance, section
30 of the Life Insurance Corporation Act 1956 expressly provides that the Life
Insurance Corporation of India shall have the exclusive privilege of carrying on life
insurance business. This monopoly situation also applies to general insurance,
although the position is different as regards risk management and reinsurance
The previous government (The Indian National Congress) appointed the Malhotra
Committee which presented its Report in 1994, making recommendations for
opening up the insurance sector. It recommended infer alia that the private sector be
called upon to take some portion of the rural and non-traditional insurance market. It
also recommended that private foreign companies should enter into Joint ventures, the
promoter equity being 40 per cent and the balance held by the public.
When the present coalition government, the United Front, came to power, as the
Central Government, it introduced its promised Common Minimum Programme.
One of the attractions of this programme was the desire to introduce wide ranging
changes affecting the insurance sector, on lines similar to the banking sector
Based on this manifesto, the following developments took place in 1996 -
Benefits of Insurance
Disability Benefits
Death is not the only hazard that is insured; many polices also include disability
benefits. Typically, these provide for waiver of future premiums and payment of
monthly installments spread over certain time period.
Tax Relief
Under the Indian Income Tax Act, the following tax relief is available
a) 20 % of the premium paid can be deducted from your total income tax
liability.
b) 100 % of the premium paid is deductible from your total taxable income.
When these benefits are factored in, it is found that most polices offer returns
that are comparable or even better than other saving modes such as PPF, NSC
etc. Moreover, the cost of insurance is a very negligible.
Encourage Savings
Unlike any other savings plan, a life insurance policy affords full
protection against risk of death. In the event of death of a policyholder, the
insurance company makes available the full sum assured to the policyholders'
near and dear ones. In comparison, any other savings plan would amount to the
total savings accumulated till date. If the death occurs prematurely, such savings
can be much lesser than the sum assured. Evidently, the potential financial loss
to the family of the policyholder is sizable.
nd
MUTUAL FUNDS IN INDIA by H. sadhak 2 edition & amitabh gupta.
From this book we get idea about how to invest in mutual fund.
Researchers have selected the research problem in ICICI Prudential Life Insurance is
as follows :
To know the Investors approach towards the return given by ICICI Prudential
Life Insurance.
So, above two are very important research problem that researchers want to study and
get the solution of it.
RESEARCH OBJECTIVES
Every research study has its own specific research objective. Without objective no
one is doing any work. To do anything there is a purpose behind it.
Here in ICICI Prudential my research objectives are as follows
To know the Investors approach towards the return provided by the ICICI
Prudential Life Insurance.
To know the Satisfaction of the investors towards the return offered by the
ICICI Prudential Life Insurance.
Here above are the very important research objective that I want to study and carry
out the optimum solution for it
SCOPE OF STUDY
Scope of study means the study whichever is carried out where it will helpful in
future.
In the same way Investment Pattern of ICICI Prudential Life Insurance Company
is helpful in the following ways
The study will helpful to know the investors satisfaction towards return
provided by ICICI Prudential Life Insurance Company.
On the basis of the study company can take the corrective actions.
Relevance of study
Research has its special significance in solving various operational and planning
problems of business and industry.
Research inculcates scientific and inductive thinking and promotes the development
logical habits of thinking and organization.
Thus, Research is the fountain of knowledge for the sake of knowledge and an
important source of providing guidelines for solving different business, governmental
and social problems. It is a sort of formal training which enables one to understand the
new developments in ones field in a better way.
Sample design is definite plan for obtaining a sample from a given population. It
refers to the technique or the procedure the researcher would adopt in selecting items
for the sample.
For the study of Investment Patterns of ICICI Prudential Life Insurance I selected the
non Probability sampling technique.
Instrument : Questionnaire
Focus Group : Focus group in my study is the employee and Financial advisor of
ICICI Prudential Life Insurance.
Mode of Collection data : I have collected all the data by the personal interview and
the telephonic talk.
DATA COLLECTION
BIBLIOGRAPHY
BOOKS
WEBSITES
www.iciciprulife.com
www.irda.com
www.insuranceindia.com
www.assureindia.com
www.knowledgedigest.com
www.icicionline.co