SUMMER INTERNSHIP

REPORT ON

ICICI PRUDENTIAL LIFE INSURANCE ( MARKETING )

ACKNOWLEDGEMENT

I ta e this opportunity to convey our heartful than s to our Dean (Academics), Prof. R. Krishnan for providing us with the necessary infrastructure, thereby gi ving us freedom to carry out the summer internship wor in my area of interest.

A special than s to Mr. Senthil Vel (AFSM) of ICICI Prudential (life insurance), Madurai for providing information about their company's products and helping me thought the project.

My sincere than s to Mr. S.K.M.Rajesh Kumar (Sales Manager), Mr.Prabhu (Sales Manager) of ICICI Prudential Madurai, who helped me through the project.

I also than all the staffs of ICICI Prudential (Life Insurance), Main Branch, Madurai for giving me the moral support to accomplish the project successfully.

I than ICICI Prudential (Life Insurance) for giving this opportunity to do our project and for extending full co-operation.

I also than all the teaching and non-teaching staff and friends of IIPM, Chennai for giving us the moral support to accomplish the project successfully.

CONTENTS

S.No TITLE Page No

1 INTRODUCTION

2 LIFE INSURANCE MARKET

10

3 NEED FOR INSURANCE

11

4 ORGANIZATION PROFILE

14

PRODUCT S

18

AWARDS AND RECOGNITIONS

19

MY EXPERIENCE IN ICICI PRUDENTIAL LIFE INSURANCE

24

Conclusion

25

Bibliography

26

INTRODUCTION

A) INSURANCE IN INDIA:

The insurance sector in India has come a full circle from being an open competitive mar et to nationalization and bac to a liberalized mar et again. Tr acing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries.

With largest number of life insurance policies in force in the world, Insurance happens to be a mega opportunity in India. It is a business growing at the rate of 1520 percent annually and presently is of the order of Rs 450 Billion. Together wi th ban ing services, it adds about 7 per cent to the country.s GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investme nts are 8 per cent of GDP.

Yet, nearly 80 per cent of Indian population is without life insurance cover while health insurance and non-life insurance continues to be below internationa l standards. In addition, this part of the population is subject to wea social se curity and pension systems with hardly any old age income security. This is an indicato r that growth potential for the insurance sector is immense.

A well-developed and evolved insurance sector is necessary for economic development as it provides long-term funds for infrastructure development and at the same time strengthens the ris ta ing ability. It has estimated that, over the n ext ten years India would require investments of the order of one trillion US dollar. Th e Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country.

Insurance is a federal subject in India. Two legislations govern the sector- Th e Insurance Act- 1938 and the IRDA Act- 1999. The insurance sector in India has

come a full circle from being an open competitive mar et to nationalization and bac

to a liberalized mar et again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost two centuri es.

B) HISTORICAL PERSPECTIVE ABOUT LIFE INSURANCE IN INDIA:

The history of life insurance in India dates bac to 1818 when it was considered 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 ris y 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 live s. The Oriental Assurance Company established in 1880. The General insurance business in India, on the other hand, can trace its roots to the Triton (Tital) Insurance Company Limited, the first general insurance company established in the year 185 0 in Calcutta by the British. Until the end of nineteenth century, insurance busin ess 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 busi ness. The insurance business grew at a faster pace after independence. Indian companie s strengthened their hold on this business but despite the growth that was witness ed, 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 Life Insurance Corporation (LIC) was born. Nationalization was justified because it would create much-needed funds for rapid industrialization. This was in conformi ty with the Government's chosen path of State lead planning and development.

The (non-life) insurance business continued to thrive with the private sector un til 1972. Their operations were restricted to organized trade and industry in large cities. The general insurance industry was nationalized in 1972. India Assurance Company , Oriental Insurance Company and United India Insurance Company are subsidiaries of the General Insurance Company (GIC).

C) Important milestones in the life insurance business in India:

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 businesse s.

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, foreign insurers and provident societies were too over by Cen tral government and nationalized. LIC formed by an Act of Parliament- LIC Act 1956with a capital contribution of Rs. 5 crores from the Government of India.

D) Important milestones in the general insurance business in India are:

1907: The Indian Mercantile Insurance Ltd. set up- the first company to transact all classes of general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.

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 in India nationalized through The General Insurance Business (Nationalization) Act, 1972 with effect from 1st January 1973 . 107 insurers amalgamated and grouped into four companies- the National Insurance Company Limited, the New India Assurance Company Limited, the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.

E) INSURANCE SECTOR REFORMS: In 1993, Malhotra Committee- headed by former Finance Secretary and RBI Governor R.N. Malhotra- formed to evaluate the Indian insurance industry and recommend its future direction. The Malhotra committee was setup with the object ive of complementing the reforms initiated in the financial sector.

The reforms was aimed at creating a more efficient and competitive financial system suitable for the requirements of the economy eeping in mind the structur al changes currently underway and recognizing that insurance is an important part o f the overall financial system where it was necessary to address the need for simi lar reforms. In 1994, the committee submitted the report and some of the ey recommendations included:

a) Structure: Government sta e in the insurance Companies must brought down to 50%. Government should ta e over the holdings of GIC and its subsidiaries so that these subsidiaries can act as independent corporations. All the insurance companies must have greater freedom to operate.

b) Competition: Private Companies with a minimum paid up capital of Rs.1bn should allow entering the sector. No Company should deal in both Life and General Insurance through a single entity. Foreign companies were allowed to enter the industry in collaboration with the domestic companies. Postal Life Insurance was allowed to operate the rural mar et. Only one State Level Life Insurance Company should be allowed to operate in each state.

c) Regulatory Body: The Insurance Act should be changed. An Insurance Regulatory body should be set up. Controller of Insurance- a part of the Finance Ministry- should be made independent.

d) Investments: Mandatory Investments of LIC Life Fund in government securities to was reduced from 75% to 50%. GIC and its subsidiaries are not to hold more than 5% in any company (there current holdings to be brought down to this level over a period of time)

e) Customer Service:

LIC should pay interest on delays in payments beyond 30 days. Insurance companies must be encouraged to set up unit lin ed pension plans. Computerization of operations and updating of technology to be carried out in the insurance industry. The committee emphasized that in order to improve the customer services and increase the coverage of insurance policies, industry should be opened up to competition. But at the same time, the committee felt the need to exercise caution as any failure on the part of new players could ruin the public confidence in the industry. Hence, it was decided to allow competition in a limited way by stipulating the minimum capital requirement of Rs.100 Crores.

The committee felt the need to provide greater autonomy to insurance companies in order to improve their performance and enable them to act as independent companies with economic motives. For this purpose, it had proposed setting up an independent regulatory body- The Insurance Regulatory and Development Authority.

A reform in the Insurance sector was initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuc to its schedule of

framing regulations and registering the private sector insurance companies. Since being set up as an independent statutory body the IRDA has put in a framewor of globally compatible regulations. The other decision ta en simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDA online service for issue and renewal of licenses to agents. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained wor force of insurance agents in place to sell their products.

The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the mar et with some limits on direct foreign ownership. Under the current guidelines, there is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent.

The opening up of the sector is li ely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. In the private sector 12 life insurance and 8 general insurance companies have been registered. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001.

F) THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY: Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statu tory body in April 2000 has fastidiously stuc to its schedule of framing regulations and registering the private sector insurance companies.

The other decisions ta en simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies launched the IRDA.s online service for issue and renewal of licenses to agents.

The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained wor force of insurance agents in place to sell their products, which are expected to be introduced by early next year.

Since being set up as an independent statutory body the IRDA has put in a framewor of globally compatible regulations. In the private sector 12 life insu rance and 6 general insurance companies have been registered.

INSURANCE MARKET IN INDIA: The India Insurance mar et despite having a highly elaborate history spanning almost two centuries, has come of age only in last 50 years after the formation of the Life Insurance Corporation (LIC) of India in 1956 and the entry of private companies into the mar et in 2000.

Traditionally the Indian Insurance Mar et had centered on the life insurance until recently, a host of other insurance policies covering a diverse range of i ssues and objects li e Medical Insurance, Accident Insurance, Fire Insurance, Automobi le Insurance and other policies which fall under the category of general insurance are being provided by various private insurance companies.

A) PERFORMANCE OF THE INDIAN INSURACE MARKET-A REPORT: The following points will provide you an insight into the insurance mar et in India and its fast expanding prospects. The report is well supported by data bas ed on detailed analysis that would help investors, financial service providers and global ban ing players to venture into the Indian insurance mar et.

Ta ing into account the changing socioeconomic demographics rate of GDP growth, behavior of consumers, and occurrences of natural calamities at regular

intervals the mar et of Life Insurance in India is expected grow to the value ar ound US $ 41.44 billion by the year 2009. The Mar et is expected to grow at a compounded annual growth rate (CAGR) of more than 200% year over year (YOY) from year 2006 onwards. . 65% of the general insurance mar et is controlled by private house that already exists in the mar et. . However in automobile insurance, public sector covers a substantial 68% of the total mar et value. . Among individual companies that are worthy of mentioning, ICICI Lombard enjoys a whopping 53% mar et share in Accident Insurance while the remaining 47% is shared by New India Assurance and United India Insurance both belonging to the public sector The other ey players of the mar et include: A) In Public Sector: Life insurance Corporation(LIC) of India, National Insurance Company Limited, Oriental Insurance Limited, New India Assurance Company Limited and United India insurance Company Limited. B) In Private Sector: ICICI prudential Life Insurance, Bajaj Allianz, SBI Life, HDFC Standard, Birla Sunlife, Aviva Life Insurance, Kota Mahindra old mutual, Max Ne w Yor Life and Met life, Tata AIG Life, ING Vysya. Thus, the ever increasing population of the country will ensure constant boom in the India Insurance mar e t in the distant future. NEED FOR INSURANCE:

. Superior to an ordinary savings plan as it provides full protection against ri s of death.

. Encourages and forces compulsory savings unli e other saving instruments, wherein the saved money can be easily withdrawn.

. Provides loan to tie over a temporary difficult phase and is also acceptable a s security for a commercial loan.

. Offers tax relief to policyholders.

. Hedges ris against uncertainty.

. For a policy ta en under the MWP Act 1874, (Married Women's Property Act), a trust is created for wife and children as beneficiaries.

. Based on the concept of sharing of losses, the society will benefit as catastrophic losses are spread globally.

NEED FOR LIFE INSURANCE: Life brings with it many surprises, some pleasant and some not so and a Life Insurance Plan ensures that you are better prepared to face uncertainties. In a number of ways:

A) Protection:

You need life insurance to be there and protect the people you love, ma ing sure that your family has a means to loo after itself after you are gone. It is a thoughtful business concept designed to protect the economic value of a human li fe for the benefit of those financially dependent on him. That is a good reason. Supposing you are suffered by an injury that eeps you away from earning? Would you li e to be a financial burden on your family, already losing out on yo ur salary? With a life insurance policy, you are protected. Your family is protecte d.

B) Retirement: Life insurance ma es sure that have regular income after retire and also helps to maintain standard of living. It can ensure that your post-retirement years wi ll be spent in peace and comfort.

C) Savings and Investments: Insurance is a means to Save and Invest. The periodic premiums are li e Savings and you are assured of a lump sum amount on maturity. A policy can come in really handy at the time of your child.s education or marriage! Besides, it c an be used as supplemental retirement income.

D) Tax Benefits: Life insurance is one of the best tax saving options today. Tax can be saved twice on a life insurance policy-once when you pay your premiums and once when you receive maturity benefits. Money saved is money earned.

ORGANISATION PROFILE: ICICI PRUDENTIAL

ICICI Prudential Life Insurance Company is a joint venture between ICICI Ban - one of India.s foremost financial service companies and Prudential plc a leading international financial service group headquartered in the United Kingdo m. Total capital infusion stand at Rs 47.80 billion, with ICICI Ban holding a sta e of 74% and prudential plc holding 26%. They began operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Today , our nation-wide team comprises of over 2000 branches (inclusive of 1,100 micro offices), over 2,58,000 advisors; and 24 banc assurance partners.

ICICI prudential is the first Insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch rating. For three years in a r ow, ICICI Prudential has been voted as India.s Most Trusted Private Life Insurer, by the Economic times AC Nielsen ORG Marg survey of Most Trusted Brand..

A) ICICI PRUDENTIAL EDGE: The ICICI Prudential edge comes from our commitment to our customer, in all that we do-be it product development, distribution, the sales process or servicing..

1. The products have been developed after a clear and through understanding of customer.s need. It is this research that helps us develop Education plans that offer the ideal way to truly guarantee the child.s education, Retirement solutions that are a hedge against inflation and yet promise a fixed income after you retire, or Health insurance that arms you with the fund you might need to recover from dreaded disease.

2. Having the right product is the first step, but it.s equally important to ens ure that, the customer can access them easily and quic ly. To this end, ICICI prudential has an advisor base across the length and breadth of the country, and also partners with leading ban s, corporate agents and bro ers to distribute the products

3. Robust ris management and underwriting practices form the core business. With clear guidelines in place, we ensure equitable costing of ris s, and thereby ensure a smooth and hassle-free claim process.

4. Entrusted with helping our customer meet their long-term goals, they adopt an investment philosophy that aims to achieve ris adjusted returns over the long-term.

5. Last but definitely not the least, our 32000 plus strong team is given the opportunity to learn and grow, every day in multitude of ways. We believe this eeps them engaged and enthusiastic, so that they can deliver on our promise to cover you, at every step in life.

B) OUR VISION AND VALUES

OUR VISION: To be the dominant life, Health and Pension player build on trust by world class people and service

This we hope to achieve by: . Understanding the need of customers and offering them superior products and service

. Leveraging technology to service customer quic ly, efficiently and conveniently.

. Developing and implementing superior ris management and investment strategies to offer sustainable and stable return to the policyholders.

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 describes what the company stands for, the qualities of our people and the way we wor .

OUR VALUES:

Every member of the ICICI Prudential team is committed to 5 core values: Integrity, Customer First, Boundary less, Ownership, and Passion. These values shine forth in all we do, and have become the eystones of our success.

C) PROMOTERS:

ICICI Ban Limited (NYSE: BSE) is India.s largest private sector ban and the second largest ban in the country, with consolidated the total assets of $1 21 billion as of September 30, 2008.

D) PRUDENTIAL PLC:

Established in London in 1848, Prudential Plc, through its businesses in the UK, Europe, US, Asia and the Middle East, provides retail financial services pro ducts and services to more than 21 million customers, policy holder and unit holders a nd manages over 256 billion of funds worldwide (as of June 30, 2008). In Asia, prudential is the leading Europe-based life insurer with life operations in Chin a, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiw an, Thailand, and Vietnam. Prudential is one of the largest asset management companies in terms of overall assets sourced in Asia ex-Japan with 34.3 billion funds under management (as of June 30, 2008) and operations in ten mar ets including China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates.

E) MANAGEMENT PROFILE: BOARD OF DIRECTORS: The ICICI Prudential life Insurance Company Lited Board comprises reputed people from the finance industry both from India and abroad.

Mr. K.V. Kamath, Chairman Ms. Chanda Kochhar, Director Mr. Barry Stowe, Director Mr. Adrian O.Connor, Director Prof. Marti G. Subrahmanyam, Director Mr. Mahesh Prasad Modi, director Ms Rama Bijapur ar, Director Mr. Ke i Dadiseth, Director Ms. Shi ha Sharma, Managing Director Mr. N.S. Kannan, Executive Director Mr. Bhargav Dasgupta, Executive Director

F) MANAGEMENT TEAM:

The ICICI Prudential life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad. Ms. Shi ha Sharma, Managing Director & CEO Mr. N.S. Kannan, Executive Director Mr. Bhargav Dasgupta, Executive Director MS. Anita Pai, Executive Vice president Dr. Avijit Chatterjee, Appointed Actuary Mr. Puneet Nandha, Executive Vice president & Chief Investment officer Customer Service & Technology

G) DISTRIBUTION:

ICICI Prudential Life has one of the largest distribution networ s amongst private life insurers in India. It has strong presence across India with over 20 00 branches ( including 1,100 micro- offices) and an advisor base of over 2,58,000 (as on November 30,2008).

The company has 24 banc assurance partners having tie-ups with ICICI Ban ,

Ban of India, South Indian ban , Shamrao Vitthal Co-Op ban , Jalgaon peoples Co Op ban , Erna ulam district Co-Op ban , Idu i District Co-Op Ban , Ratnagiri

Sindhudurg Gramin Ban , Jhar hand Gramin Ban , Solapur Gramin Ban , Narmada Malwa Gramin ban , Wainganga Kshetriya Gramin Ban , Ratnagiri District Central Co-Op Ban , Seva Vi as Co-Op ban , Sangli Urban Co- Operative ban , The Haryana State Co- Operative Ban , Renu a Nagri Saha ari Ban , Amanath CoOperative Ban , Arvind Saha ari Ban , Bhandara Urban Co Operative Ban .

H) PRODUCTS:

INSURANCE SOLUTION FOR INDIVIDUALS: ICICI Prudential Life Insurance offers a range of innovative, customer-centric product that meets the needs of customers at every stage.

a) SAVINGS & WEALTH CREATION PLANS: . Save n Protect . Cash bac . . Life Time Gold . Life Stage RP . Life Lin Super . Premier life Gold. . Invest Shield Cash Bac .

b) PROTECTION SOLUTION: . Pure protect . Life Guard . Home Assure . Life Stage Assure

c) CHILD PLANS: Smart Kid New ULRP

d) RETIREMENT SOLUTION: . Forever Life

e) HEALTH SOLUTION: . Health Assure Plus . Cancer . Hospital Care . Crisis Cover . Diabetes Care Active . Medi Assure . Health saver

f) GROUP INSURANCE SOLUTION: ICICI Prudential also offers group insurance solution for companies see ing to enhance benefit to their employees. . . . . Group Group Group Group Gratuity Plan Superannuation Plan Immediate Annuities Term plan

g) FLEXIBLE RIDER OPTIONS: ICICI Prudential Life Insurance offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the cust omer.

. . . .

Accidental & Disability Benefit Critical Illness Benefit Wavier of premium Income Benefit Rider

. . . .

Life Time Super Pension Life Stage Pension Life Lin Super Pension Immediate Annuity

AWARDS AND RECOGNITIONS:

A) AWARDS: 12th Asia Insurance Industry Awards 2008 ICICI Prudential Life was awarded the Life Insurance Company of the Year at the 12th Asia Insurance Industry Award 2008. . Brand Excellence in the Ban ing and Financial services

ICICI Prudential Life won the Award for Brand Excellence in the Ban ing and Financial services category at the Asia Brand Congress 2008.

http://www.iciciprulife.com/public/images/ET_TROPHY_03-copy.jpg

Ms. Shi ha Sharma, MD & CEO, ICICI Prudential Life Insurance Co. Ltd. was adjudged the Businesswoman of the year at The Economic Times Awards for Corporate Excellence, 2007-08. .

Mar eting Excellence Award 2008 ICICI Prudential Life won the ICICI Group Mar eting Excellence Award 2008 in thr ee ey categories for its mar eting initiatives.

http://www.iciciprulife.com/public/images/E&YoungEntreprAwds2007.jpg

Ms. Shi ha Sharma, MD & CEO, ICICI Prudential Life Insurance was awarded the Outstanding Businesswoman of the Year at CNBC TV18's India Business Leader Awards 2007.

http://www.iciciprulife.com/public/images/effie1_awards07.jpg ICICI Prudential Life.s, retirement solutions campaign for the year 2006-07 was awarded the Bronze Effy trophy in the services category. It also won the Brand Equity Bravery Award 2007, instituted by Ad club.

http://www.iciciprulife.com/public/images/inovaward06s.jpg Innovation Award for launching Diabetes Care Prudence Award 2006. People Award for excellence in training and people development - Prudence Award 2006.

Most Trusted Private Life Insurer. The Economic Times - A C Nielsen Survey of Mo st Trusted Brands 2003, 2004 and 2005. http://www.iciciprulife.com/public/images/Award_Outloo _Money.jpg Best Life Insurer 2003. Outloo Money Awards 2003 & 2004 IMM Award for Excellence. Institute of Mar eting & Management Organization with Innovative HR Practices Indira Group of Institutes.

B) RECOGNITIONS:

A) ICICI Prudential Life was recognized as the most trusted brand amongst private life insurers in the Economic Times-Most Trusted Brand survey 2008.

B) IMM Award for Excellence. Institute of Mar eting & Management.

C) Organization with Innovative HR Practices. Indira Group of Institutes.

D) Organization with Innovative HR Practices. Asia-Pacific H R Congress Awards for HR Excellence.

MY EXPERIENCE IN ICICI PRUDENTIAL:

My summer internship started in flying colors as Mr.C.Senthil Vel, AFSM and Mr. S.K.M.Rajesh Kumar (Sales Manager) of ICICI Prudential Life Insurance, Madurai who gave an excellent presentation about their organization and about Li fe insurance mar et in India. My summer internship structure for 1 months was developed by Mr.C.Senthil Vel as per his plan, he wanted to give us practical exposure of Life Insurance Industry. As per his plan he told me to join with F.S .C team. From the 1st day itself, I went to calls with the team.

In the beginning days, I felt difficult in explain the policies but later on, I managed to explain about the policies. Many of the customers as ed me Is it an insurance firm? as soon as I said that I am calling from ICICI PRUDENTIAL I cannot tell them anything rather than yes sir as soon as tell yes they said that I am not interested . Some people will hear the whole story and will say that I am littl e busy with my wor and call me later or tomorrow . Many people were as ing why I should ta e life policies . I answered that to overcome ris sir their next question was what ris ? r family sir I cannot tell them that if u die it will be financial support to you

A) STEPS FOLLOWED IN TELEMARKETING OF POLICIES:

. Firstly, I would ma e a call to the customer.

. Depending on the age of the customer I inform him about the various plans that would suit him.

. I request the customer to share a few minutes with me to insurance plans available.

now about the

. If he has any children I also explain him about the child plans available.

. I clearly explain him about the Tax benefits which he will receive.

. I also explain about the short term and the long term plans.

. If he is interested I tell him that I would li e to have an appointment with him at any convenient place to give more detailed information about the plans.

. This is my personal experience in ICICI prudential life insurance

CONCLUSION:

There is no equivalent way to learn things than learning it practically. Everyone learns from his mista es, on experience. The practical experience is an entirely different aspect when considered about what we learnt in classroom. Thi s summer training report would reveal the various learning process. I have learned

I would li e to convey my regards and sincere than s to Mr.c.Senthil Vel AFSM, Mr. S.K.M.Rajesh Kumar (Sales Manager) and Mr.Prabhu (Sales Manager) of ICICI Prudential Life Insurance, Madurai for their continued support and guid ance throughout my internship period and also for helping me to complete my internshi p training successfully.

I would li e Conclude that ICICI Prudential Life Insurance provided me with a very good friendly learning environment; they are equipped with high qual ity infrastructure, pantry Facilities combined with neat and clean environment

some of the ey things li e how to behave in the organization? , How to tal h customers? , how to communicate with senior officials?

wit

Bibliography:

1) 2) 3) 4)

http://www.iciciprulife.com http://www.google.com http://www.wi ipedia.com http://business.mapsofindia.com