A

PROJECT REPORT
ON

“Recruitment of
Insurance Advisors for ICICI Prudential Life Insurance Co. Ltd”

CONDUCTED AT:
ICICI PRUDENTIAL LIFE INSURANCE,HISAR

SUBMITTED TO;
KURUKSHETRA UNIVERSITY, KURUKSHETRA

IN PARTIAL FULFILLMENT OF THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION (MBA)

(SESSION 2006-2008)
Under the supervision of Submitted By:-
Mrs. Rimpi Walia SIMMI
Faculty member (MBA Dept.) MBA (2nd Year)
MMIM, Mullana (Ambala) Roll no. 1575

MMIM, INSTITUTE OF MANAGEMENT MULLANA

AFFILIATED TO KURUKSHETRA UNIVERSITY, KURUKSHETRA
 CONTENTS

• PREFACE
• CERTIFICATE
• ACKNOWLEDGEMENT
• DECLARATION
• INTRODUCTION
• INDUSTRY PROFILE
• PROFILE OF THE COMPANY
• ABOUT THE TOPIC
• RESEARCH METHODOLOGY

 Objective of the study.

 Type of research
 Research design
 Source of data
 Sampling plan
 Sample size
 Methods of data collection
 Instrument used for data collection
 Limitations of study.

• FINDINGS AND DATA ANALYSIS

• SUGGESTIONS

• CONCLUSION

• BIBLIOGRAPHY
 PREFACE

Someone has greatly said that practical knowledge is far better than classroom

teaching. During this project I fully realized this and come to know about the

present real world of Life Insurance marketing. Since it includes all the activities

involved in selling goods or services directly to final customers. I am pleased to

know about the consumers’ wants and competitors activities in the real world of

Insurance.

The subject of my study was Recruitment of Financial Advisors for ICICI

Prudential life Insurance Co. Ltd. I have done by applying various tools like Tele

calling and through direct interaction with customer’s .I have also done a market

survey with the use of a questionnaire to know the clients interest towards the

part time business opportunity of Insurance Advisor.

The report contains first of all brief introduction about the company. Then it

contains the complete description of the job done and in the last the growth

opportunities and suggestions.

 ACKNOWLEDGEMENT

The Summer Project, from the very beginning to the tail end has been carried out
under the guidance of Mr.Punit Shekhawat, Manager-Channel Development,
ICICI Prudential Life Insurance Company Pvt. Ltd. The more I try to thank him
the least I am able to, because words cannot ever express my indebtness to
him.I would also like to thank my faculty Guide Prof. Rimpy Walia and Mr.Padam
Bhushan, Unit Manager ICICI Prudential for the timely inputs they provided
during the tenure of the summer training.
If the ideas do make the difference, then this project has gained maximum from
the experience of Prof. Rimpy Walia and Mr. Padam Bhushan. They have in fact
given the project its form.
In the end I would like to thank many unknown individuals, whom I interacted with
for end number of my needs. All of them with their due cooperation and at times
with detachment taught me the real lessons of business world. Many a name and
incident I still remember and they have become a part apart of my and those
whom I can’t recall to have enriched me directly or indirectly.

TRULY
SIMMI
 DECLARATION

I, SIMMI, student of MBA Programme (Session 2006-08) hereby declare that the
project report titled “RECRUITMENT OF INSURANCE ADVISORS FOR ICICI
PRUDENTIAL LIFE INSURANCE CO. Ltd” is original and bonafied work done
by me and has not been submitted to any organization in any means possible.

The project is the result of my summer training at ICICI PRUDENTIAL LIFE

INSURANCE CO. Ltd, Hisar and the contents of this project are based on the
field work and analysis done by me during my training.

The project is being submitted in partial fulfillment requirements for the award
degree of Master of Business Administration, Kurukshetra University, Kurukshetra.

( SIMMI )
 INTRODUCTION TO INSURANCE

LIFE INSURANCE GENERAL

Insurance is a

system to

alleviate financial losses by transferring risk of loss from one entity to

another.

‘Insurance’ is basically a sharing device. The losses to assets resulting from

natural calamities like fire, flood, earthquake, accidents, etc. are met out of the

common pool contributed by large number of persons who are exposed to similar

risks.

This contribution of many is used to pay the losses suffered by unfortunate few.

However the basic principle is that loss should occur as a result of natural

calamities or unexpected events which are beyond the human control. Secondly

insured person should not make any gains out of insurance.

It is natural to think of insurance of physical assets such as motor car insurance

or fire insurance but often we forget that creator of all these assets is the human

being whose efforts have gone a long way in building up the assets. In that

sense, human life is a unique income generating assets. Unlike the physical

assets, which decrease in value with passage of time, the individual becomes

more experienced and more matured as he advances in age.

This raises his earning capacity and the purpose of life insurance is to protect the

income in the event of his premature death. The individual himself also needs

financial security for the old age or on his becoming permanently disabled when

his income will stop. Insurance also has an element of savings in certain cases.

How insurance works?

Suppose there are 1000 persons all aged 35 years and healthy lives. They are

insured for one year against the risk of death. Each person is insured for Rs.

50,000. If the past experience indicated that 4 out of 1000 persons, at this age

are expected to die during the year, expected amount of death claim to be paid to

the family of four persons would come to Rs. 2,00,000.

 The contribution to be paid by each of the 1000 persons will come to Rs. 200

per year. Thus, all the 1000 persons share loss caused to the 4 unfortunate

families. 996 persons who survived till one year have not lost anything as they

secured peace of mind and a feeling of security of their family.

While insurance cannot prevent accidents or premature death, it can help protect

the family of the decreased against the loss of income caused by the death of the

main breadwinner. In return for specified payments, insurance will provide

protection against the incidence of an uncertain event- such as premature death.

The business of insurance company called insurer is to bring together persons who are

exposed to similar risks, collect contribution (premium) from them on some equitable

basis and pay the losses (claims) to the unfortunate few who suffer.
Classification of Insurance

Insurance business can be divided into two broad categories:-

TYPES OF INSURANCE

LIFE INSURANCE NON-LIFE INSURANCE

Life insurance :- It is concerned with making provision for a specific

event happing to the individual, such as death

Non life or general insurance:- It is more commonly concerned with the

provision for a specific event which affects a property, such as fire, flood,

theft etc. In this course we will only cover life insurance. So, let us now

move on to the definition of life insurance.

Definition of Life Insurance

According to the U.S. Life Office Management Association Inc. (LOMA), life

insurance is defined as follows: ‘Life insurance provides a sum of money if the

person who is insured dies whilst the policy is in effect”.

NEED FOR LIFE INSURANCE

Risks and uncertainties are part of life's great adventure -- accident, illness, theft,
natural disaster - they're all built into the workings of the Universe, waiting to
happen.

Insurance then is man's answer to the vagaries of life. If you cannot beat man-
made and natural calamities, well, at least be prepared for them and their
aftermath.

Insurance is a contract between two parties - the insurer (the insurance

company) and the insured (the person or entity seeking the cover) - wherein the
insurer agrees to pay the insured for financial losses arising out of any
unforeseen events in return for a regular payment of "premium".

These unforeseen events are defined as "risk" and that is why insurance is
called a risk cover. Hence, insurance is essentially the means to financially
compensate for losses that life throws at people - corporates and otherwise.

The principle of insurance works on the concept of a large number of people

exposed to a similar risk making a contribution to a common fund. Those who
suffer losses due to the occurrence of these events are compensated for them
from this
INDUSTRY
PROFILE

INSURANCE INDUSTRY OVERVIEW

 CLASSIFICATION OF INSURANCE INDUSTRY

Insurance companies may be classified as:

a) Non life and General insurance companies

b) Life insurance companies

a) Non life or general insurance companies

Who meet the demand of all

types of non-life insurance? It provides financial coverage to all types of losses
under fire, marine and including vehicle insurance etc.

In most countries, life and non-life insurers are subject to different regulations,
tax and accounting rules. The main reason for the distinction between the two
types of company is that life business is Very long term in nature- coverage for

life assurance or a pension can cover risks over many decades. By contrast,
non-life insurance cover usually covers shorter periods, such as one year.

Companies may sell both life and non life insurance, in which case they are
sometime known as composite insurance companies.

Insurance companies are also often classified as either mutual or stock

companies.
This is more of a traditional distinction as true mutual companies are becoming
rare. Mutual companies are owned by the policyholders, while stockholders, (who
may or may not own policies) own stock insurance companies. Reinsurance
companies sell insurance cover to other insurance companies. This helps
insurance companies to spread their risks, and protects them from very large
losses. The reinsurance market is dominated by a few very large companies,
with huge reserves.

b.) LIFE INSURANCE COMPANY

As is evident from its very name, it deals with insurance of human life. “Life
insurance corporation of India”- a public sector undertaking has the monopoly in
this sector since its nationalization.

In our wordily life, whenever there is uncertainty, there is an involvement of risk.

The instinct for security against such risk is one of the basic motivating forces
determining human attitudes. As a squeal to this quest for Security, the concept
of insurance must have been born. The urge to provide insurance or protection
against the loss of life & property must have prompted people to make some sort
of sacrifice willingly in order to achieve security through “COLLECTIVE CO-
OPERATION”, in this sense; story of insurance is probably as old as THE story
of mankind.

INSURANCE RISKS
The insurance covers two types of risks:

1. General risk
2. Life risk

1. General risk:-

General risk is a risk by theft, fire etc. This type of risk is insured by THE General
Insurance Corporation of India.

2. LIFE RISK:-

THE history of life insurance is enveloped in THE must of antiquity. In INDIA,

now a day, this risk is insured by many huge corporations of life insurance:-

a) LIC
b) ICICI PRUDENTIAL
c) HDFC
d) KOTAK MAHINDRA OLD MUTUAL
e) BIRLA SUNLIFE
f) BAJAJ ALLIANZ
g) TATA AIG
h) AVIVA LIFE INSURANCE etc.
“So long as the maintenance of a family depend son the earning power of bread-
winner as long as the power can be destroyed by death, old age or disability Just
so long life will life insurance continue to be the keystone of the individual &those
who are dependent upon him”.

LIFE INSURANCE PLAYERS:

In India these are the life insurance players. We have listed them in alphabetical

order:

 Aviva life insurance  Bajaj Allianz

 Birla Sun Life insurance  HDFC Standard life insurance

 ICICI Prudential  Kotak life insurance

 Life Insurance Corporation of India  Max New York life insurance

 Metlife insurance  Reliance life insurance

 Sahara India life insurance  SBI life insurance

 Shriram life insurance Co. Ltd.  Tata Aig life

Indian Insurance Industry

 Insurers

 Insurance industry, as on 1.4.2000,comprised mainly two players:when

state insurers:

 Life Insurers

 Life Insurance Corporation of India (LIC)

General Insurers

General insurance corporation of India (GIC)

 (with effect from Dec’2000,a National reinsurer) Gic had four subsidiary
companies,namely(with effect from Dec’2000 these subsidiaries have
been de-linked from when parent company and made as independent
insurance companies.
1. The oriental Insurance company limited

2. the new India assurance company limited

3. United India insurance company limited

4. National Insurance Company Limited

YEAR:2000-2001: (From 2nd april ‘2000 to 31st December ‘2001) Insurance

industry in when year 2000-2001 had 16 new entrants,namely

Life Insurers:

S.No. Registration No. Date of reg. Name of company

1 101 23.10.2000 HDFC Standard life Insurance Company
2 104 15.11.2000 Max New York Life Insurance Co. Ltd.
3 105 24.11.2000 ICICI prudential
4 107 10.01.2001 Kotak Mahindra old mutual life
5 109 31.01.2001 Birla Sun Life
6 110 12.02.2001 Tata aig life insurance
7 111 30.03.2001 SBI life
8 114 02.08.2001 ING Vysya
9 116 03.08.2001 Bajaj Allianz
10 117 06.08.2001 MetlifeIndia Insurance Company Pvt.Ltd.
General Insurers:

S.No. Regi. No. Date of Regi. Name of the Company

1. 102 23.10.2000 Roya lSundaram Alliance Ins. Co.Ltd
2. 103 23.10.2000 Reliance General Ins. Co. Ltd.
3. 106 04.12.2000 IFFCO Tokyo General Ins. Co. Ltd.
4. 108 22.01.2001 TATA AIG General Ins. Co. Ltd.
5. 113 02.05.2001 Bajaj Allianz General Ins. Co. Ltd.
6. 115 03.08.2001 ICICI Lombard General Ins. Co. Ltd.

Yr: 2001-2002 :( From 1st Jan 2001 to Dec. 2002)

Insurance Industry in this, so far has 5new entrants; namely

Life Insurers:

S.no. Registration no. Date of reg. Name of the Company

1. 121 03.01.2002 AMP SANMAR ASSURANCE
CO. LTD.
2. 122 14.05.2002 Aviva Life Insurance co. India
Pvt. Ltd.

General Insurers:
 S. no. Registration no. Date of registration Name of the Co.
1. 123 15.07.2002 Cholamandalam Ins.
Co. Ltd.
2. 124 27.08.2002 Export Credit Guarantee
Corporation Ltd.
3. 125 27.08.2002 HDFC-Chubb General
Insurance Co. Ltd.

Yr. 2003-2004: (from 1st Jan 2003 till date)

Insurance industry in 2003-2004

General Insurers:

S.no. Registration no. Date of registration Name of the company

1. 126 29.10.2003 Agriculture Insurance
Co .of India Ltd.

Life Insurers:
S.no. Registration no. Date of registration Name of the company
1. 127 06.02.2004 Sahara India Insurance Co.
Ltd.

INURANCE INDUSTRY IN INDIA

India is marching ahead to more prosperous future. The economy is

on a high growth path, domestic savings are growing, exports have risen and
inflation has stabilized. Infrastructure sector, which even today is woefully
inadequate to meet the expected increased industrial activities, has been
accorded top priority by the government. All this should reflect in a growth rate of
7 to 8% for the next 3-4 years. With this scenario of high economic growth further
reforms in the financial sector are in the Common Minimum Program of the
Government.
The insurance industry, which still remains a state monopoly, is therefore
engaging serious attention of the Government. De-regulation of insurance sector
has already been recommended by the Malhotra Committee and has generally
been welcomed by a dominant body of industry and populace though the
employees unions and some others remain opposed to the idea of introducing
competition in the insurance sector.

India is regarded as under- insured country with insurance penetration at a very

low level of 0.6% of GDP. Insurance, as a rule, has always been given very low

priority by corporate India. It is always taken with reluctance, usually only when it
is compulsory, and then only by big industrial houses. Without exception it is
always inadequate to meet the needs of the corporate sector.
In addition to the tradition exposure of fire, floods, workers compensation and the
interruption, Corporate India also has to address unpredictable changes in areas
such as environment; security; occupational health and safety; public liabilities;
Directors and Officers Liability and product liability
It therefore becomes quite obvious that purchase of insurance, in itself, will not
substitute for a soundly based and property implemented Risk Management
Program as insurance can only offer some financial relief byre placing the plants;
it cannot replace the loss in development of a business or development of the
market.

The likely private players

A number of foreign insurance companies have set up representative office in
India and have also tied up with various asset management companies. They
have either signed Memorandum of Understanding with Indian companies or are
trying to do the same. A few of them have been around for the last four to five
years. Some have carried out extensive research on the Indian insurance sector.
Others have set up liaison offices. All of them are
waiting with bated breathe for the opening up of the sector and taking a bite of
the great Indian Insurance pie.
 TIE-UPS

The following tie-ups are already in place:

INDIAN PARTNER INTERNATIONAL PARTNER

Alpic Finance Allianze Holding, Germany
Tata American Int. Group, US
CK Birla Group Zurich Insurance, Switzerland
ICICI Prudential, UK
Sundaram Finance Winterthur insurance,Switzerland
Hindustan Time Commercial Union,UK
Ranbaxy Cigna, US
HDFC Standard Life, UK
Bombay Dyeing Generl Accident, UK
DCM Shriram Royal Sun Alliance, UK
Dabur group Liberty Mutual Fund,US
Kotak mahindra Chubb, US
Godrej J Rothschild,UK
Cholamandalam Guardian Royal Exchange,UK
SK Modi Group Legal& General,Australia
20th Century Finance Canada Life
M A Chidambaram Met Life
ICICI + PRUDENTIAL

A Joint venture ICI and Prudential of UK

ICICI Prudential started its operation in December 2000

The key objective of ICICI prudential is to provide the Indian citizen to suit a
variety of needs.

Prudential “genesis”
Founded in 1848-U.K.
Fourth largest insurance company in the world as per fortune 500 in terms of
revenues
Leading life insurance Company in United Kingdom.
Over US$ 270 BILLION (Rs.12, 69,000 crores) under a management.
AAA rating from standard & poor’s (the highest rating)
Over 75 years of experience with operation in 11 countries.

THE PARENTAGE OF ICICI BANK

Largest private sector Bank

Customers: 5 million customer account and 5 million bondholder account
The best managed Bank in Asia (Euro money 2002)
Financial Powerhouse since 1995
Largest UK insurance in Asia with presence in 12 countries
Controls 4% of all listed shares in London stock exchange
17 countries 40,000 employees, 13 million customers.

THE COMPANY:

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank,

a premier financial powerhouse, and Prudential plc, a leading international

financial services group headquartered in the United Kingdom. ICICI Prudential

was amongst the first private sector insurance companies to begin operations in

December 2000 after receiving approval from Insurance Regulatory

Development Authority (IRDA). ICICI Prudential’s equity base stands at Rs. 1185

crore with ICICI Bank and Prudential plc holding 74% and 26% stake

respectively. For the financial year ending March 31, 2007 , the company

garnered Rs 4843 crore of weighted retail + group new business premiums and

wrote nearly 2 million policies,becoming the first private life insurer to cross the 4

million policies milestone. With this the company gathered 29 % market share of

the private life insurance market and 10 % of the Indian life insurance market,

with a wide range of flexible products that meet the needs of the Indian customer

at every step in life. ICICI Prudential 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 rating is the highest credit rating, and is a clear assurance of

ICICI Prudential’s ability to meet its obligations to customers at the time of

maturity or claims.

Management

Board of directors
The ICICI Prudential Life Insurance Company Limited Board comprises reputed
people from the finance industry both from India and abroad.

Mr. K.V. Kamath, Chairman

Mr. Mark Norbom
Mrs. Lalita D. Gupta
Mrs. kalpana Morparia
Mrs. Chanda Kochar
Mr. Kevin Holmgren Mr. M.P. Modi
Mr. R Narayanan
Ms. Shikha Sharma, Managing Director

Management Team
Ms. shikha Sharma, Managing Director& CEO
Mr. V. Rajagopalan, Chief- Actuary
Mr. Sandeep Batra Chief Financial Officer & Company Secretary
Ms. Anita Pai Chief –Customer Services and Operations
Mr. Puneet Nanda, Chief – Investments
Mr.Shubhro J.Mitra, Chief- Human Resources
Mr.Dipan Bhattacharya- Chief Information Technolog

DISTRIBUTION:

ICICI Prudential has one of the largest distribution networks amongst private life

insurers in India, having commenced operations in over 116 cities and towns in

India, stretching from Bhuj in the west to Guwahati in the east, and Amritsar in
the north to Trivandrum in the south. Now it has over 580 branches across 421

towns and cities in the country.

The company has 28 bancassurance tie-ups, having agreements with ICICI

Bank, Bank of India, Federal Bank, South Indian Bank, Ernakulam Bank, Lord

Krishna Bank and some co-operative banks, as well as about 2,00,000 corporate

agents and brokers. It has also tied up with NGOs, MFIs and corporates for the

distribution of rural policies and organisations like Dhan for distribution of Salaam

Zindagi, a policy for the socially and economically underprivileged sections of

society.

ICICI Prudential has recruited and trained more than 2,34,000 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.

VISION:

To make ICICI Prudential the dominant Life and Pensions player built on trust by

world-class people and service.

This we hope to achieve by:

• Understanding the needs of customers and offering them superior

products and service

• Leveraging technology to service customers quickly, efficiently and

conveniently

• Developing and implementing superior risk management and

investment strategies to offer sustainable and stable returns to our
policyholders

• Providing an enabling environment to foster growth and learning for our

employees

• And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5 core

values -- Integrity, Customer First, Boundary less, Ownership and Passion. Each of the

values describe what the company stands for, the qualities of our people and the way we

work.

We do believe that we are on the threshold of an exciting new opportunity, where we can

play a significant role in redefining and reshaping the sector. Given the quality of our

parentage and the commitment of our team, there are no limits to our growth.

PROMOTORS:

ICICI Bank

ICICI Bank (NYSE:IBN) is India''s second largest bank and largest private sector
bank with over 50 years of financial experience and with assets of Rs. 1812.27

billion as on 30th 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 specialised 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.

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 twelve countries - China, Hong

Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore,

Taiwan, Thailand and Vietnam.

SAVING PLANS:
.

ICICI Prudential offers a variety of policies that give you the benefits of protection

and the opportunity to save for important assets or events, like a home, a car or a

wedding.
InvestShield Life

A regular premium unit-linked insurance plan with an assurance of Capital

Guarantee* and the facility of extended insurance cover.

InvestShield Cash

A regular premium unit-linked insurance plan with an assurance of Capital

Guarantee* along with flexible liquidity options.

InvestShield Gold

A unit-linked insurance plan with an assurance of Capital Guarantee*, which

offers you the benefit of a limited premium payment and coverage term.

Premier Life

A market linked insurance plans that meets your Investment and Protection

needs.

Life Time Lifetime2

Complete market-linked insurance plans that adapt itself to your changing

protection and investment needs, throughout a lifetime.

Secure Plus

Insurance plan that gives added protection savings and multiple options, all in

one!

Cash Plus

An insurance plan that gives added protection savings, multiple options, plus the

power of liquidity.

Save N Protect

A traditional endowment savings plan that offers both high returns and protection.

Cash Back

An endowment savings plan that allows you to get back substantial survival
benefits without having to wait till the maturity date.

Protection Plans

Life Guard
ICICI Prudential Life Insurance offers LifeGuard - a set of pure protection plans.
Choose from amongst three different product structures to insure your life and
provide total security to your family, at a very affordable cost.

Level Term Assurance with return of premium

 On death the entire sum assured will be paid.

 On maturity, all the premiums paid will be returned.

Level Term Assurance without return of premium

 On death the entire sum assured will be paid.

 No survival or maturity benefits.

You can also enhance the above two policies by adding Accident & Disability

Benefit Rider and Waiver of Premium Rider (WOP).

Level Term Assurance - Single premium

 On death the entire sum assured will be paid.

 No survival or maturity benefits

SmartKid Education 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. Here’s 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 child’s future education and
lifestyle, taking all possibilities into account. For further information on our
SmartKid Education Plans, please download the brochure.

1.SmartKid regular premium (Download Brochure)

2.SmartKid unit-linked regular premium (Download Brochure)

3.SmartKid unit-linked regular premium II (Download Brochure

4.SmartKid unit-linked single premium II (Download Brochure)

MARKET SHARE-NO.1 POSITION IN YEAR 2005

MARKET SHARE OF ICICI

 M a r k e t s h a r e o f IC IC I

IC IC I
H D F C S td
18%
34% B ir la S u n L i fe
7%
T a t a A IG
9%
A lli n B a j a j
9% 16% 7%
S B I L ife
O t h e rs

Most reliable pvt. Life insurance Company

MOST RELIABLE PVT.LIFE

INSURANCE CO.

ICICI

BIRLA SUN LIFE

9%
12%
39%
HDFC STANDARD
15% LIFE

25% MAX NEWYORK

LIFE
TATA AIG
 SWOT
ANALYSIS
SWOT ANALYSIS OF ICICI PRUDENTIAL

STRENGTHS:-

• ICICI Prudential is the largest private player in the insurance industry in

INDIA , with a market share of around 36% amongst the private players.
• It received best products innovation award from Asian banker in 2001.
• Vast untapped market.

In a country of 1 billion people there is huge potential market for life

insurance products.

• There is a huge pool of skilled professionals to carry out the successful

ventures.
• ICICI Prudential is one of India’s leading financial institutions.

• Offering a complete financial solution that encompasses every sphere of

life.
• From commercial banking
To stock broking
To mutual funds
To life insurance
To investment banking,
The group caters to the financial needs of individuals and
Corporate.
• ICICI prudential is the first company, which got license of insurance
trading from I.R.D.A. (Insurance Regulatory & Development Authority)
• ICICI Prudential is leading in securities.
• The company has a network in 74 cities in India and offices in New-York,
London and Dubai.The group services a customer base of over 5,00,000
• Weaknesses:-

• Though there is a huge market for insurance polices, the middle class
who constitutes bulk of this market is burdened with inflationary pressure
and therefore is not able to save for future.
• Less popularity of ICICI Prudential in villagers.
• Most of the people have faith on LIC as it is a Govt. Organization.

Opportunities:-

• Out of 320 million insurable market only 20% of population is insured.

• The ICICI Prudential group is going to open 100 branches of ICICI
Prudential in coming 4-5 years.
• The insurance sector is growing so there is opportunity for business
growth.
• Unemployment is today a big problem in our country; therefore people
who have the potential should be encouraged to enter in to this sector.

• Threats :-

• Competition is growing as new entrants are coming in insurance sector .

• Main threat is “COMPETITORS”
FUTURE GROWTH PROSPECTS:
 ICICI Prudential is the No.1 Private Life Insurance Company with:

• Maximum No of Policies

• Largest Premium Income

• Largest Agency force

• Biggest Pension Player

 ICICI Bank is the first Indian company to be listed on New

York Stock Exchange.

 Therefore there is a lot of growth prospect for a Insurance

Company Like ICICI PRUDENTIAL the reason behind is people are now

trusting private players and are ready to invest in insurance to secure their

future and also to grow their money with the least amount of risk.

 Government is Going to open the Foreign Direct Investment

in Insurance Sector from 26% to $(% by 2009.Which would be a boon to

insurance Industry.

ICICI ’s Brand Name is becoming so much big that with in few years it may overtake
LIC (Life Insurance Corporation of India)
NATURE OF JOB ASSIGNED:
The job assigned was RECRUITMENT OF INSURANCE ADVISORS FOR ICICI

PRUDENTIAL LIFE INSURANCE COMPANY.I was required to Search for the

insurance advisors who can bring business for the company working part time or

full time.

The Project was an endeavor to know the interest of a very diversified portfolio of
clients from different works of life and who were keen to join the Insurance
Industry as a part time Business opportunity. The project is for the period of 6 to
8 weeks and requires to recruit a minimum of 5 advisors for the company.

To be recruited for the role of an advisor the minimum educational requirement is

10+2 Apart from this the candidate must posses:-
Confidence
Self motivation
Persuasion
Urge to be financially independent
Relationship skills

It is very important that the potential advisor is able to

Understand his /her roles that are supposed to be performed.
The Project from the very name looks like a project of Human Resource but later

on I realized that the “primary job of a manager is getting things done by others”

and the project of advisors recruitment matches with this definition where one

has to interact with different kinds of people and convince them to accept the

proposal of a business partner as a Insurance Advisor.

The Biggest Private Life Insurance Company ICICI Prudential has a very famous

Brand name and every body trusts this brand so while searching for the Advisors

I didn’t find any difficulty in telling about the Company.

The Largest Private Insurance Company in India is no doubt growing at very fast

pace and making inroads in the Indian market but the growth can be accelerated

provided a better marketing strategy are applied.

In the process of Recruitment of Life Advisors I went through several stages of

negotiations and my ultimate objective was to convert the deal into final closing. During

My Project I learnt to interact with different kind of People and I revealed my personality

as an Extro
 DETAILED JOB PROFILE:

Initially marketing was very much bookish for me but during my Training in ICICI

Prudential Life Insurance Co. Ltd ,I came to know what actually marketing is.

During my training I interacted with customers who were very much unknown to

me and in the nascent stages I was having a little bit of hitch but later on I started

enjoying while interacting with the customers.

From the very beginning my Unit Manager Mr. Padam Bhushan told me that u

will not be provided with any kind of leads or database and you have to generate

your own leads and have to achieve the target in the given time.

He always use to say that u must walk alone and make planning and strategies

to achieve your objective. He is a great source of inspiration for me.

The target given to me was to recruit 5(Five) Insurance Advisors but due to

the Guidance and Motivation my Channel Development Manager Mr. Punit

Shekhawat. I Overachieved my target during my training of 8 Weeks and I

recruited 6(six) Insurance Advisors, this was the highest no of Advisors that

was recruited by a summer Trainee in the Hisar Branch of ICICI Prudential life

Insurance Company.
I Divided whole period of my training into three parts:

1 Data collection & Cold calling

2 Finding out opportunities

3 Negotiation & closing the sales

Phase 1: Data Collection and cold calling

Collection of data or leads is the first thing before making a client of ICICI

Prudential life Insurance Co. ltd. I collected data by five ways:

1 Through Yellow Pages

2 Through visiting cards

3 Through Telephone Directory

4 Through Internet

5 Through Newspaper

After collection of data my second job was to make cold calls and door-to-

door marketing. Which I did by making tele calls from the Company and went

to different offices as well as to the court clients about latest offer of part time

Business opportunity as a life advisor. In all, I collected data of about 36

customers. So Data Collection Means Looking for the Suspect who May or

May Not be interested in the Business Proposal.

Phase 2: Finding out opportunities

Data collection and cold calling are just the primary steps in

marketing of any product the real thing is to find out opportunities out of those

leads which one has generating. I got many opportunities where the customer

was interested in becoming the client of mine and I use to fix meetings with these

customers so that I can tell them the details of our Part time Business

Opportunity. In all I got 14 opportunities where the customer was interested in

becoming the Life Advisor. So these 14 Clients were those Suspects who were

converted into Prospects of becoming a Life Advisor.

Phase 3: Negotiation and closing the Deal

After meeting with the customers and negotiating with them I tried

to convince them to become the Insurance Advisor of the best Private Life

insurance Company which already have more than 2,34,000 Insurance Advisors.

And through this interaction I came to know about the one to one interaction

skills. And at the end I closed the Deal by convincing about 6 Clients for

becoming the Corporate Agents of ICICI prudential within a period of 8

weeks.
GRAPHICAL REPRESENTATION OF

PERFORMANCE

S US P E CT
14
P RO S P E CT
F IN A L CO N V E RS IO N
36
 AREA ASSIGNED

The Area Assigned to me was whole Hisar and Hansi.Out of 6(six) Advisors

which I have recruited 5 are from Hisar, 1 from Hansi.I use to fix meetings by

making tele calls and then go to the residence or the office of the clients,

sometimes in Hisar and sometimes in Hansi.

During my training I enjoyed both the in-house on job training as well as the

fieldwork as I was having scooty ,so , I didn’t find much difficulty in commuting

from one place to other.I agree sometimes it was very frustrating when I use to

go to the residence of my client and he refuses to talk to me or he was not

present at the given address. But later I realized that life is a journey and you

have to move on and on

TARGET ASSIGNED

The Target assigned to me was Recruitment of Insurance Advisors for ICICI

Prudential Life Insurance Company .The Tenure of the project was of 8 weeks

during which the target was to recruit 5 Retail Advisors or 3 HNI(High Net Worth

Individuals) Profile. But Due to God’s Grace, My Parents Guidance I

overachieved the target and Recruited 6(six) Insurance Advisors within 8 Weeks.

In My Database of 6 Insurance Advisors 5(Five) are HNI Clients. I was the Only

Summer Trainee at the ICICI Prudential Hisar Branch, who has Recruited More

than 5s Insurance Advisors Branch Among all the Summer Trainees.

My Channel Development Manager Mr. Punit Shekhawat also congratulated me

to Become the Topper among the summer trainees. He Told Me that the first job

of a Unit Manager in ICICI PRUDENTIAL is Recruitment of Insurance Advisors

and that I have done a great Job.

REPORT OF ADVISORS RECRUITED

S.No Advisor Name App No Login Date Q-Score

1 Anisha 21074820 12-6-2007 3

2 Varinder 20666746 20-6-2007 4

3 Shalini Bansal 20903668 27-06-2007 4

4 Sushil Kumar 20308962 10-07-2007 4

5 Raj kumar 20670755 20-07-2007 5

6 Jai Pal Singh 13403987 28-07-2007 4

DAY TO DAY ON JOB EXPERINCE

 I slept, I dreamt I saw life is a Beauty I Woke Up and I realized Life is a

Duty .My day used to start just like a professional I use to reach my office i.e

ICICI Prudential Life Insurance Co. Ltd which is located in Hisar at 9:30 this was

my reporting time.

After reaching office I use to make tele calls to the suspects from the database

that I got from different sources like:

• Through Yellow Pages

• Through visiting cards

• Through Telephone Directory

• Through Internet

• Through Newspapers

Then I use to fix Meetings with my meetings with my my probable prospects and

use to go for a meet with my Unit Manager Mr.Padam Bhushan Alone the

meetings use to be at places like-Hansi and Hisar.

During my interaction with the Clients I use to give a BOP (Business Opportunity

Presentation) that was provided to me by the company. I use to explain the

clients the Benefits of Becoming Life Advisors of ICICI PRUDENTIAL LIFE

INSURANCE.

Some of the Fabulous Benefits of this Business, which I use to share

with my clients, are:

>No Initial Investment.

>No Prior Selling Skills Required.

>Get IRDA (Insurance Regulatory Development Authority) Certification

>Get ZERO balance Account in ICICI Bank.

>Can Earn More than 20,000 per Month.

>Work from HOME or OFFICE.

>Foreign Trips

>STAR Club Memberships.

If the Client looked interested then I use to tell him different things like:-

1.The documents required:-The following documents are required to

become Insurance Advisor in ICICI Prudential Life Insurance co:-

>Draft of five hundred Rupees only as IRDA Examination fees.

>Age Proof

>Last Educational Certificate

>8 Photographs

After collecting all the Documents I use to fill the form of Insurance Advisor and

log in the Recruitment after that my work was to motivate and provide the

advisors the study material to clear the exam of Insurance Regulatory

development Authority.

All in all I enjoyed my work a lot my Channel development manager Mr. Punit

Shekhawat is a very co-operative person and he has given us the on job training

and told me some very great skills of marketing and interaction with different

psychologies of people. He also told us how to make tele calls and how to pitch

the part time Business proposal of Insurance Advisor.

During My Summer Training my personality has changed tremendously from an

introvert and diffident person I have become an extrovert, candid and flamboyant

person.The reason behind this tremendous change was my daily interactions

with different types of people and this has also improved my Communication.
2.ROLE OF AN ADVISOR

It is important for us to know that what is the role that an advisor will play. At
ICICI Prudential, you are an advisor is to:

1. Provide ongoing financial advice for his/her clients: You are an advisor
and just like a lawyer or a doctor you advice the client about insurance
and finance.

2. Identify future clients: Life insurance is a business of

contacts and the advisor constantly need to know people so
that his business expands.
3. Constantly make appointments: Just making contacts will
not be enough to develop a good life insurance business. The
4. Advisor needs to meet these contacts and thus should make
appointments on constantly.
5. Conduct financial review meetings with prospects/
clients: As an advisor it is necessary to meet with client not
only for the purpose of selling but also to review the need of
the client and prospects. Many people would not be in for life
insurance today but as time moves they can be requiring one.
Similarly an existing client may also be in need of more
insurance as responsibilities and liabilities increase.

6. Close sale: Ultimately success is defined as sales. The

advisor should lead each appointment towards a sale andclose it
effectively where in the client is happy on purchasing the insurance
solution and feels satisfied with it
.Get referrals: As mentioned above – life insurance is contact business –
the best way to build is through referral.
 7. which you can take from your prospects and clients alike. Getting
referrals will help you build a stronger business.

8. Provide service to clients: The role of an advisor truly starts after the sale
has been made and servicing the policy sold is the most crucial role of an
advisor.

9.Follow internal sales and reporting system: The Company provides tools and
systems for the advisor to increase and develop the business in a effective
manner.

3.WORKING ENVIRONMENT FOR ADVISOR

World Class Sales Team: The advisor of ICICI became the part of
world class sales team they are provided each and every kind of help
from there team.

Work From Office Or Resident: The advisor is free fordoing work

from any place either he/she can perform work from its own office or
its own residence.

Work Full Time Or Part Time: The advisor can do his/her job as part
time or full time, this is there own choice.

Commission, Bonus & Incentives: Advisor can earn commission,

bonus & incentives according to there own working ability or skills.
Upper Limits On Earning: There is no fixed upper limit on earning of
the advisor they can earn up to the sky & for this they have to use
there best skills.

Flexible Career: In ICICI Prudential the advisor have a flexible career.

4. OPPORTUNITIES FOR THE ADVISOR

No Startup Capital Required: The advisor of ICICI have the best

opportunity that they don’t require any kind of startup capital for
the work that have to perform.

Flexible Working Environment: The second opportunity for the

advisor is that they are being provided by the most flexible
working environment. They are able to do work according to there
convenience.

Be Your Own Boss: The next best opportunity for the advisor is
that they don’t have any boss on there head they’re there own
boss, they can choose there own way for doing things.

Unlimited earning potential: The next opportunity is that an

advisor can earn unlimited this all depends upon the potential of
that agent, no one is there who can stop them except till they stop
themselves.
 To Be Part of a World-Class Team: Last but not the
leastopportunity for the advisor is that they get a chance to
become a part of world class team that is ICICI.

5.FACILITY OF EXTENSIVE TRAINING TO MAKE YOU A

PROFESSIONAL ADVISOR

State- of-The-Art Training On:

1 Selling skills
2 Product knowledge
3 Relationship
Training Delivery Through Several Convenient Options:

1 Face to face
2 Online
3 Self learning

EXTENSIVE PRODUCT PORTFOLIO

Extensive product range that provides financial solutions to coverall basic

needs:
1 Pre-mature death
2 Living too long
3 Living death
4 Children’s future
5 Wealth creation
 YEAR 1 YEAR 2 YEAR 3

No. of policies sold 50 75 100

Average Premium Rs. 16,,000 16,000 16,000

Total Premium earned 8,00,000 12,00,00 16,00,000

Rs. 0
Average Commission 1,80,,,000 2,70,000 3,60,000
Including bonuses
Estimate @ 22.5%
Earnings from new 1,80,000 2,70,000 3,60,000
business Rs.
Commission on renewal 48,000 72,000
Premium @ 6%
For Year 2,3 & 3% after 48,000

Earnings From renewal 48,000 1,20,000

Business Rs.

Total earnings Rs. 1,80,000 3,18,000 4,80,000

PAYMENTS & BENEFITS- COMMISSION STRUCTURE

 Year 1 Year 2 Year3
No of policy sold 100 150 200
Avg.premium rs. 20000 20000 20000
Annual premium 2000000 3000000 4000000
earned rs.
Avg. commission 450000 675000 900000
including estimate
@22.5%
Earning from new 450000 675000 900000
business

Commission on 120000 180000

renewal premium
@ 6%
For 2,3 & 3% after 120000
Earning from 120000 300000
renewal business
Annual earning 450000 795000 1200000

Depending on the product mix commission can go up to 35% in the first

year,7.5% in the second and third year and 5% fourth year onwards.

Recognition programs

1 Foreign trip and seminars

2 Select club membership
 a) President’s club
b) ICICI Prudential star club
3 MDRT membership

Career progression and future opportunities

At ICICI prudential career development is emphasized upon the from very day
the advisor joins the system. Though individual meeting with his or her
manager. The advisor can discuss various issues related to business
development and career enhancement.

4 Tiger team: ICICI prudential offer the tiger team program identify high
potential advisor. These advisors are placed on a fast track career path
and recognized as tiger trainers.
5 Pinnacle program: this program helps advisors build a full time career as a
unit manager in the unit, offering great potential for managing a team
advisor and personal development.
6 Hand picked advisor
7 A fast track career path
8 Continue doing your business
9 Criteria
Age 25-40 years
At least one year in system
Case count 2 per month
Part time career as a trainer
1). Pinnacle programmed

1 A full time career as a unit manager

2 Growth within ICICI prudential

3 Great earning potential

4 Personal development

5 Performance criteria
Age 25-45
At least one year in system
Avg. two case counts per month.

2) Fast Track Pinnacle Programmed

1 A full time career as a unit manager

2 Growth within ICICI Prudential

3 Great earning potential

4 Performance criteria
Age 25-45 years
At least 6 months in system
30 insurance within 6 months
 LEARNINGS OF MY ON JOB TRAINING

During My on-Job Training in ICICI Prudential Life Insurance I have learnt some

very basic and important facts of working in corporate I would like to put these

learning’s as follows:
  Working in Organization the thing that matters the most is the

Communication a manager spends more than 68% of time in

communicating.

 One’s dressing sense matters the most in creating the first impression on

anyone.

 One has to obey your boss in every case even if you are not convinced with

his ideas sometimes.

 One should be Punctual and regular in the office.

 One should always try to maintain healthy relationship with the Boss.

 Always meet any body with smile and even communicating on phone your

face should be smiling.

 At the Last I just want to add “Experience is what you Get, when you don’t get

what you want”.

RESEARCH
METHODOLOGY
Research Methodology deals with, the procedure adopted to carry out the study.
According to green and Tull:
“A research design is the specification of methods and procedures acquiring the
information needed It is the overall operational pattern or framework of the
project that stipulates which information is to be collected from which sources by
what procedures’’. For conducting the study, the researcher has adopted both
primary as secondary method of data collection.
OBJECTIVE OF STUDY

The purpose of research is to discover answer to questions through the

application of scientific procedures. The main aim of research is to find out
truth which is hidden and which has not been discovered as yet. Though
 each research study has its own specific purpose, we may think of research
objectives as falling into a number of following broad grouping:

Main Objectives:-

1. To recruit more and more advisors for the ICICI PRUDENTIAL LIFE
INSRANCE CO. Ltd.
2. To look for all segments of people so that they can be introduced in
system.

Secondary Objectives:-

1. To know that how many people are aware about insurance and insurance
advisors?
2. To know that how many people are aware about IRDA?
3.. To know which insurance sector people want to join?
4. To know the popularity and reputation of ICICI Prudential among the
masses.

TYPE OF RESEARCH

Research refers to the search for knowledge. It can be defined as

scientific and systematic search for pertinent information on a specific topic. It is
careful investigation or enquiry especially through search for new facts of any
branch of knowledge.

Research plays an important role in the project work. The

result of the project is completely based upon the research of the facts and
figures collected through the different ways of research. That is why it is also
called a movement from known to unknown. Research is the original contribution
to the existing stock of knowledge.

Exploratory or Formulative research: Exploratory research is

conducted to clarify the ambiguous problems.

Descriptive research: To portray the characteristics of an individual,

group, situation, etc.
Diagnostic research: To determine the frequency of occurrence of an
event.
Hypothesis Testing: To test hypothesis of casual relationship of the
variables.

Research Design

For this I use data collection method. In the data collection

method, we have collected both primary and secondary data to meet our
objective.
Primary data:-
The primary data was collected by a survey based on the
questionnaire. It was formulated on the basis of information gathered by me with
the help of Mr.Padam Bhushan(Unit Manager of co.) who provide useful
guidelines and objective of our study.
Secondary data:-
The secondary data was collected from books and internet.

Data Source:-
The data that is collected from different sources, as the first hand
information that is called primary data. The source of primary data in my research
is questionnaire and observation method. The secondary data were also used in
my report preparation. This is collected from company record and from internet.

Research Approach:-
The required information in the form of data is collected through survey
method, with the help of personal interview through questionnaire method.

Sampling plan:-

There is a stage where the planning is done about the sample units,
sample size, sampling procedures, etc.

Sample units: - This means, which is to be surveyed. So as mention earlier

that the sample units is potential peoples.
 (a) Sample size:-

The sample size means how many peoples should be surveyed. So

that total sample size is 100, which cover from different area of Hisar and Hansi.

(c) Sampling Procedures:

I choose cluster and judgmental sampling for my research.

Data collection method:-
Personal interview method is used for collection of primary data in
the form of questionnaire from respondents.

Research Instruments:-

Once the source of data collection is decided then comes the instrument for
data collection or the research instrument. In this survey method a questionnaire
was framed. This is Philip by the potential people though personal interview.
1
3. Have you heard about insurance
companies?

Categories No. of People

YES 86

NO 14

14%

YES
NO

86%
4.Do you know about ICICI Prudential
Life Insurance co. Ltd.?

Categories No. of People

YES 80

NO 20

20%

YES
NO

80%
5.If yes,from where did you come to
know about it?

Categories No. of People

ADVERTISEMENT 30
WORD-OF-MOUTH 15
INSURANCE AGENTS 10
YOUR BANK 20
OTHERS 5

6%

25% 37% A DV E RTIS E M E NT

W O RD-O F -M O UTH
INS URA NCE A G E NTS
Y O UR B A NK
O THE RS

13%
19%

6. Do you have any insurance policy?

Categories No. of People

YES 65

NO 35

35%

YES
NO
65%
 7. Which company’s policy you are
having?

COMPANIES PEOPLE
LIC 35
ICICI 15
HDFC 10
OTHER 5

People

8%
15%
LIC
ICICI
HDFC
54%
OTHER
23%

8..Do you want to earn money sitting at home?

Categories No. of People

YES 90

NO 10

10%

YES
NO

90%
9.Have you heard about insurance
advisors?

Categories No. of People

YES 65

NO 35

35%

YES
NO

65 %
10.Do you know about the task of
insurance advisors?

Categories No. of People

YES 65

NO 35

35%

YES
NO
65%
11.Are you aware about the benefits of
becoming insurance advisors?

Categories No. of People

YES 45

NO 55

45%
YES
NO
55%
12.Do you know the rules and
regulations of .I.R.DA?

Categories No. of People

YES 25

NO 75

25%

YES
NO

75%
13. Would you like to be associated with
ICICI prudential by becoming its
insurance advisors?

Categories No. of People

YES 60

NO 40

40%
YES
NO
60%
IF YES,,

14.How much time would you like to

devote on job?

No. of
hrs/day No. of people
2-4 hrs 25
4-6 hrs 20
6-8 hrs 10
above 8 hrs 5

No. of people

8%
17% 2-4 hrs
42%
4-6 hrs
6-8 hrs
above 8 hrs
33%
15.What kind of benefits do you expect
from the co.?

Benefits No. of people

Job Security 20
Fixed Salary 10
Carrer Growth 20
Training 5
Others 5

8%
8% Job Security
34%
Fixed Salary
Carrer Growth
Training
33%
Others
17%
 IF NO,

16.Then please tell what are the

reasons behind that?

Reasons No. of people

Lack of time 10
Less convincing power 15
Unsatisfactory
commission 10
others 5

No. of people

Lack of time
13% 25%
Less convincing power

25% Unsatisfactory
commission
37% others
FINDINGS……….
 FINDINGS:-

1. Most of the people are aware about insurance but not many people know
about insurance advisors , their tasks and benefits to them.

2.Advertisement plays a great role in creating awareness among people

regarding significance of insurance.

3.Very few people are aware about the rules and regulations of I.R.D.A.

4.People prefer public sector rmore than private sector for purchasing insurance
policies.

5.lots of people are interested in earning money sitting at home.

6.Job security and fast carrer growth are the two important factors for attracting
more people towards the job of insurance advisor.
 DIFFICULTIES FACED:

 Sometimes I find difficulty in interacting with people by tele calling due to

negative responses that made me nervous and demoralized sometimes

 The other difficulty was sometimes the client was ready to become the

insurance advisor of ICICI PRUDENTIAL but it was difficult to fetch out fifteen

hundred for the examination fees.

 I also faced difficulty in traveling to different areas of Hisar and Hansi to

meet the clients for part time business proposal.

 It was difficult to convince the clients to become insurance advisor of ICICI

Prudential by paying fifteen hundred rupees when some other companies were

taking less or no fees for the examination.

 The difficulty was to maintain a continuous level of self-motivation

because we are giving our best shot but results don’t come
Although ICICI PRUDENIAL LIFE INSURANE is
such a big brand that I don’t have much authority to
give suggestions but still I would recommend some
suggestions from my side,these are:-

1. The co. should pay more emphasis on advertisement in rural

areas for creating awareness among people about insurance
and insurance advisors.
2. There should be a weekend batch of training for people who
cannot spare much time from their busy schedule.
3. The commission that is paid to advisors should be increased.

4. Presentation about ADVISOR AS A CARRER OPPORTUNITY

should be given in various seminars and get together.
5. The co. should give advisors more benefits than to public
insurance companies.
6. During my training my mentor instructed me to contact to
people like doctor’s lawyers ,bank manager, and high profile
people. But according to my observation these people are not
suitable because they are not interested in such kind of work.
Therefore people doing clerical jobs, graduates unemployed
people, who are in low income group should be taken into
consideration.
 Conclusion

On the basis of above analysis and interpretation, conclusion is that

insurance business is mushrooming in the country. Today there are
no of insurance companies with different added advantage.LIC is
leading company in the insurance business in India.

With a market share of 87% followed by ICICI pru with a market

share of 5.4%.
Among the private business companies ICICI pru.is doing the
maximum business with a market share of 34%. Since ICICI pru is
lacking at some points but that is also because of time period ICICI
pru is in insurance business from 7 years while LIC is from 51 years.
Bibliography:

Websites:

 www.iciciprulife.com
 www.indiainfoline.com
 www.irda.com

Books:

1 Marketing Research an applied orientation By Naresh.k.malhotra

2 Marketing Management By Philip Kotler & Kevin Keller