Icicici Project

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1.AAB MARFIN MBA TABLE OF CONTENTS PARTICULARS PAGENUMBERS 1.

Executive Summary 01-02 2. Introduction 03-14 3. Need for Insurance 15-22 4.

Company Profile 23-32 5. Vision-Mission 33-36 6. Products 37-43 7. Stress

Management 44-61 8. Stress Management at work place 62-82 9. Findings &

Analysis 83-95 10. Suggestions 96-98 11. Limitations of the study 99-100 12.Conclusion 101-102 13. Annexure 103-106 14. Bibliography 107-108 “STRESS

MANAGEMENT”

2.3. SAAB MARFIN MBAEXECUTIVE SUMMARY “STRESS MANAGEMENT”

3.4. SAAB MARFIN MBA EXECUTIVE SUMMARY Insurance is the pooling of

fortuitous losses by transfer of such risk toinsurers, who agreed to provide the

pecuniary benefit on their occurance, or torender service connected with risk. It is

the transfer of financial responsibilityfor the risk at the point of occurance and

conventionally involves the insurer ina commitment to pay. The insurance service

lead to efficient and productiveallocation of capital resources, facilitate growth of

trade and commerce.Globalization will certainly increase insurance penetration and

all professionalsshall equip themselves to exploit opportunities offered by this sector.

ICICI PRUDENTIAL has maintained its lead amongst the private playersof life

insurance with a market share of about 39%. The biggest achievement isin pension

segment, where company introduced a slew of products andcaptured around 23% of

the total pension market. ICICI Prudential have acustomer centric growth strategy

and has taken a number ofstrategies against this. The consumers are the largest

economic group in any country and thepresent day business activities are because

of consumers only. Thus,consumers are the pillars of the economy. The consumers

are not only theheart of marketing system, but also the controller of marketingfunctions. But ifthe modern marketing system consumers sovereignty has become a

myth onaccount of the variety of problems in the process of merchandising. The

studyof consumer behavior enables marketers to understand and predict

consumerbehavior in the market place; It also promotes understanding of the role

thatconsumption plays in the lives of the individual. “STRESS MANAGEMENT”

4.5. SAAB MARFIN MBA This gives me an opportunity to work on with this endeavor

focusing onthe study of consumer behavior towards the insurance products with

specialreference to ICICI PRUDENTIAL. The primary objective of the study is

tounderstand the attitude and perception of the respondents towardsinsuranceproducts. The study gives an insight to the insurance industry. It briefly

explainsabout the history of life insurance sector. It also contains the

organizationalprofile of ICICI PRUDENTIAL, stating about its mile stones, vision,

products,protection, solutions, advertising effectiveness and finally about its

marketingstrategies and challenges. The study ends up with the suggestions in order

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tomodify the current system for a higher growth and progress. INTRODUCTION

“STRESS MANAGEMENT”

5.6. SAAB MARFIN MBA“STRESS MANAGEMENT”

6.7. SAAB MARFIN MBA INTRODUCTIONLIFE INSURANCE Life insurance is a

contract providing for a payment of a sum ofmoney to the person assured or failinghim to the person entitled toreceive the same on the happening of certain event.

Uncertainty of deathis inherent in human life. Ii is this risk, which gives rise to the

necessityfor some form of protection against the financial loss arising from

death.Insurance substitutes this uncertainty by certainty. The objective ofinsurance is

normally to provide: A Family Protection. B Provision for old age. INSURANCE

INDUSTRYORIGIN OF INSURANCE The origin of insurance dates back to the 12th

century, the origin ofinsurance appeared first in marine and land fields. The ideas

ofinsurance were made in Babylonia and India at quite an early period; thecourts of

Hammurabi and Mano recognized the provision for sharing thefuture losses.

However there is no evidence that insurance in its presentform was practiced prior to

12th century. Tracing the history of insuranceto the present day, one can easily

gauge the performance of industryboth collectively as an industry as well as

individually by the companies. In earlier times, travelers by sea and land were very

much exposedto risk of losing their vessels and merchandise because piracy on

theopen seas and highway robbery of caravan were common. References to


7.8. SAAB MARFIN MBAsimilar practices are also found in Manab Dharma Shastra

whichcontained rules for sea from contracts which was observed by

traders.Insurance conceived as method of sharing of the losses embodyingtheprincipal of co-operation existed in the early civilization. Many may not be aware

that the life insurance industry of India isas old as it is in any other part of the world.

The first Indian life insurancecompany was the Oriental Life Insurance Company,

which was started inIndia in 1818 at Kolkata1. A number of players (over 250 in life

and about 100 in non-life) mainly with regional focus flourished all across thecountry.

However, the Government of India, concerned by the unethicalstandards adopted by

some players against the consumers, nationalizedthe industry in two phases in 1956

(life) and in 1972 (non-life). Theinsurance business of the country was then brought

under two publicsector companies, Life Insurance Corporation of India (LIC) andGeneralInsurance Corporation of India (GIC). Reforms were initiated with the

passage of Insurance Regulatoryand Development Authority (IRDA) Bill in 1999.

IRDA was set up as anindependent regulatory authority, which has put in place

regulations inline with global norms. So far in the private sector, 12 life

insurancecompanies and 9 general insurance companies have been

registered.INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY ACT -



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1999.(I.R.D.A) The object of this act is to provide for the establishment of anauthority

to protect the interest of holders of insurance policies, toregulate, to promote and

ensure orderly growth of insurance industries.Insurance Regulatory and

Development Authority (IRDA) has sought thecomments of industry participants to

finalize the guidelines for onlineagents training institutes. “STRESS MANAGEMENT”8.9. SAAB MARFIN MBA These proposed guidelines are in addition to its

standardinstructions and guidelines applicable for approval/renewal of agentstraining

institutes. The guidelines would be applicable to all the onlinetraining institutes

including in-house training institutes of the insurers. As per the draft guidelines, the

applicant should undergo at least120 hours practical training in life or general

insurance business. Thecomposite training should be for at least 180 hours, where

the applicantis seeking license for the first time to act as an insurance agent. The

duration should be minimum of 24 days for 120 hours trainingand 36 days for 180

hours training with a maximum five hours per day.Stating that no product

training/market survey should be included intothis 120/180 hours training, the

regulator said revision examinationcould form part of the training.DUTIES, POWERS

AND FUNCTIONS OF AUTHORITY: The powers and functions of the authority

include registration of insurers, intermediaries and agents regulations of terms and

conditions of contract of insurance, promoting and regulating professional

organizations connected with the insurance, monitoring investment of funds and

solvency margin of insurance companies. The authority is to be advised by a

committee to be known as the insurance advisory committee, which shall consists of

not more than 25 members including ex-officio members in the insurance sector. The

insurance advisory committee is expected to advice the authority on matters relatingto making of the regulations An Indian insurance company has been defined as a

company incorporated under the Companies Act - 1956 and the paid capital of

General Insurance business will have to be not less than Rs 100/- “STRESS

MANAGEMENT”

9.10. SAAB MARFIN MBA Crores and in case of companies wanting to transact

reinsurance business the paid capital will have to not less than Rs 200/- Crores. It

has also been notified that every insurance company will have to appoint an Actuary

to be approved by I.R.D.A. The duty of the Actuary is to insure that The assets are

valued in appropriate manner The liabilities are evaluated as required The prescribedmargin for maintaining solvency is compliedwith. The I.R.D.A also issued regulations

with regards to advertisement so as to include almost any public communication for a

sale of insurance policy. THE FUNDAMENTAL / PRINCIPALS OF LAW OF

INSURANCE.UTMOST GOOD FAITH: The parties to the commercial contract,

according to the law arerequired to observe good faith. The seller cannot mislead the

buyer inrespect of transactions, but he has no subject of the contract, it is thebuyer’s

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duty to be careful while entering into a contract. LET THEBUYER BE AWARE is a

legal rule.INSURABLE INTEREST: The owner of the property has a right under law

to effect insuranceon the property if he is likely to suffer financially when property is

lostor damaged. This legal right to insure is called insurable interest,without insurable

interest the contract of insurance will be void.Because of this legal requirement ofinsurable interest the insurancecontracts are not gambling transactions. “STRESS

MANAGEMENT”

10.11. SAAB MARFIN MBAINDEMNITY: The principal of indemnity arises under

common law and requires that an insurance control should be a contract of

indemnity only and nothing more. The object of principals to place the insured after a

loss in the same financial position as far as possible, as he is occupied immediately

before the loss. The effect of this principal is to prevent the insured from making the

profit out of his loss or gaining any advantage or benefit. The object of a contract of

insurance is to protect the financial interest of the insured in the subject matter of

insurance.SUBROGATION: The principal of subrogation arises from the principal of

indemnity. Subrogation may be defined as transfer of rights and remedies of the

insured to the insurer who has indemnified the insured in respect of the loss. If the

insured has any rights of action to be recovered the loss from any third party, who is

primary responsible for the loss, the insurer having paid the loss is entitled to avail

himself of these rights to recover the loss from the third party. The effect is that the

insured does not receive more than actual amount of his loss and any recovery

affected from the third party goes to the benefit of the insurer to reduce the amount

of his lossINSURANCE MARKET IN INDIA By any yardstick, India, with about 200

million middle classhouseholds, presents a huge untapped potential for players intheinsurance industry. Saturation of markets in many developed economieshas

made the Indian market even more attractive for global insurancemajors. Life

insurance is mainly considered as a saving instrument rather “STRESS

MANAGEMENT”

11.12. SAAB MARFIN MBAthan an investment avenue as it promotes compulsory

savings besidesreducing tax burden on the policyholder and protect the family of

thepolicyholder in the event of unforeseen happening. It is the only savinginstrument,

which covers the life risk besides giving tax concession bothat entry (premium paid)

and at exitHISTORY AND PRESENT STATUS OF INSURANCE MARKET ININDIAThe insurance sector in India has come a full circle frombeing an open competitive

market to nationalization and back to aliberalized market again. Tracing the

developments in the Indianinsurance sector reviles the 360-degree turn witnessed

over a period ofalmost two centuries.A BRIEF HISTORY OF THE INSURANCE

SECTOR The business of life insurance in India in its existing formstarted in India in

the 1818 with the establishment of Oriental LifeInsurance Company in Calcutta.



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Some of the important milestones in theLife Insurance business in India are: 1912:

The Indian Life Assurance Companies Act enacted asthe first statue to regulate the

life insurance business. 1928: The Insurance Companies Act enacted to enable

thegovernment to collect statistical information about both life andnon-insurance

business. “STRESS MANAGEMENT”12.13. SAAB MARFIN MBA 1938: Earlier legislation consolidated and amended to by

theInsurance Act with the objective of protecting the interest of the insuringpublic.

1956: 245 Indian and foreign insurers and provident societiesare taken over by the

central government and nationalized. LIC found byan Act of Parliament, viz. LIC Act

1956, with a capital contribution ofrupees Five Crores from the Government of

India.INSURANCE SECTOR REFORMS In 1993, Malhotra Committee, headed by

former FinanceSecretary and RBI Governor R.N. Malhotra, was formed to evaluate

theIndian insurance industry and recommend its future direction. TheMalhotra

committee setup with the objective of complimenting thereforms initiated in the

financial sector. The reforms where aimed at"creating a more efficient and

competitive financial system suitable forthe requirements of the economy keeping in

mind the structural changescurrently underway and recognizing that insurance is an

important partof the overall financial system where it was necessary to address

theneed for similar reforms.."In 1994, the Committee submitted the report and some

of the keyrecommendations included:Structure a. Government stake in the insurance

companies to be brought down to 50%. b. Government should take over the holdings

of GIC and its subsidiaries so that these subsidiaries can act as independent

corporations. “STRESS MANAGEMENT”

13.14. SAAB MARFIN MBA c. All the insurance company should be given greaterfreedom to operate.Competition A Private companies with a minimum paid up capital

of Rs. 1bn should be allowed to enter the industry. b. No company should deal both

the life insurance and general insurance through a single entity. c. Foreign

companies may be allowed to enter the industry in collaboration with the domestic

companies. c. Postal Life Insurance should be allowed to operate in the rural market.

d. Only one state level Life Insurance Company should be allowed to operated in

each state.Regulatory body a. The Insurance Act should be changed. b. An

Insurance regulatory body should be setup. Reforms in the insurance sector were

initiated with the passageof the IRDA Bill in the Parliament in December 1999. TheIRDA since itsincorporation as statutory body in April 2000 has fastidiously stuck to

itsschedule of framing regulations and registering the private sectorinsurance

companies. The other decisions taken simultaneously to provide the

supportingsystems to the insurance sector and in particular the life insurance




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14.15. SAAB MARFIN MBAcompanies was the launch of the IRDAs online service for

issue andrenewal of license to agents. The approval of institutions for imparting

training to agents hasalso ensured that the insurance companies would have trained

work forceof insurance agents in place to sell their products, which are expected

tobe introduced by early next year. Since being set up as an independent statutorybody the IRDA hasput in a framework of globally compatible regulations. In the

privatesector 12 life insurance and 6 general insurance companies have

beenregistered. Insurance is an Rs 400 billion business in India, and together

withbanking services adds about 7% to Indias GDP. Gross premium collectionis

about 2% of GDP and has been growing by 15 to 20% per annum. Indiaalso has the

highest number of life insurance policies in force in theworld, and total investable

funds with the LIC are almost 8% of GDP. Yetmore than three fourth of Indias

insurable population has no lifeinsurance or pension cover. Health insurance of any

kind is negligibleand other forms of non life insurance are much below

internationalstandards. To tap the vast insurance potential and to mobilize long

termsavings we need reforms which include revitalizing and restructuring ofthe public

sector companies, and opening up the sector to privateplayers. A statutory body

needs to be made to regulate the market andto promote a Healthy market structure.

Insurance Regulatory Authority(IRA) is one such body, which checks on these

tendencies. IRA rolecomprises of following three functions: a. Protection of

consumers interest “STRESS MANAGEMENT”

15.16. SAAB MARFIN MBA b. To ensure financial soundness and solvency of the

insurance industry, c. To ensure healthy growth of insurance market. An insurance

policy protects the buyer at some cost against thefinancial loss arising from aspecified risk. Different situations anddifferent people require a different mix of risk-

cost combinations.Insurance companies provide these by offering schemes of

differentkinds. Unfortunately, the concept of insurance is not possible in ourcountry.

As per the latest estimates, the total premium income generatedby life and general

insurance in India is estimated at around 1.95% of GDP.How ever Indias share of

world insurance market has shown an increaseof 10% from 0.31% in 1996-97 to

0.34% in 1997-98. Indias market sharein the life insurance business showed a real

growth of 11% there byoutperforming global average of 7.7%. Non life insurance

business grewby 3.1% against global average of 0.20%. In India insurance pendingpercapita was among the last in the world at $7.6 compared to $7 in theprevious

year . Amongst the emerging economies, India is one of theleast insured countries

but the potential for growth is phenomenal, as asignificant portion of its population is

in services and the life expectancyalso increased over the years. The nationalized

insurance industry has not offered consumers avariety of products. Opening of the

sector to private firms will fostercompetition, innovation and variety of products. It



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would also generategreater awareness on the need for buying insurance as a

service and notmerely for tax exemption, which is currently done on the demand

side, astrong correlation between demand for insurance and per capita incomelevel

suggests that high economic growth can spur growth in demand forinsurance. Also

there exists a strong correlation between insurance “STRESS MANAGEMENT”16.17. SAAB MARFIN MBAdensity and social indicators such as literacy. With social

development,insurance demand will grow. “STRESS MANAGEMENT”

17.18. SAAB MARFIN MBA LIFE INSURANCE MARKET IN INDIA Life Insurance

StatisticsIndian Population I bnGDP as on 2000 ( Rs bn) 50000 bnGross Domestic

Saving as a % of GDP 32%NCAER estimate is Insurance 240

mnPopulationEstimated market 2010 950 mn India has an enormous middle class

that can afford to buy life,health, and disability and pension plan products. The low

level ofpenetration of life insurance in India compared to other developednations can

be judged by a comparison of per capita life premium.Country Life Premium per

capita US $ in 1994Japan 3817UK 1280USA 964India 4 Clearly, there is

considerable scope to raise per capita life premiumin the market is effectively tapped.

India has traditionally been a highsavings oriented country often described as being

on par with thriftyJapan. Insurance sector in the US is a big in the size as the

bankingindustry there. This gives us an idea of how important is the sector

is.Insurance sector canalizes the saving of the people to long-term “STRESS

MANAGEMENT”

18.19. SAAB MARFIN MBAinvestments. In India where infrastructure is said to be

critical importance,this sector will bring the nations own money for the nation. In the

three years time we would expect 10% of the population tobe under some sort of aninsurance cover. Thus assuming a premium ofRs 5000 on an average, 100 million Rs

5000 = Rs 500 billion. This has made the sector the hottest one in India after IT.

Withsocial security and security to public at large being the agenda foropening the

sector, the role of the regulator becomes all the moreserious and one would be

carefully watched at every step. The Insurance Regulator and Development bill is

now an Act. Withthis India is now the cynosure of all the global insurance

players.Numerous player, both Indian and foreign have announced their intentionto

start their insurance shops in India. IRDA, under chairman ship of Mr.RANGACHARI,

opened the window for applying license in India. One of the main difference betweenthe developed economies andthe emerging economies is that insurance products

are bought in theformer while these are sold in later. Focus if insurance industry

ischanging towards providing a mix of both protection/risk cover andlong-term

investment opportunities. “STRESS MANAGEMENT”

19.20. SAAB MARFIN MBAWHY LIFE INSURANCE? “STRESS MANAGEMENT”

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20.21. SAAB MARFIN MBAWHY LIFE INSURANCE? Life insurance cover is essential

for it provides the followingbenefits:a. A lump sum payment to the nominees at the

time of the death of the policyholder;b. A regular payment to the nominees in the

event of the death of the policyholder;c. Tax benefits, as premium paid to reduce the

liability of tax;d. Relieves economic hardships in the family on the uneventful death ofthe sole income holder;e. Inculcates the habit of saving.NEED FOR INSURANCE

The need for life insurance comes from the need to safeguard ourfamily. If you care

for your familys needs you will definitely considerinsurance. Today insurance has

become even more important due to thedisintegration of the prevalent joint family

system, a system in which anumber of generations co-existed in harmony, a system

in which a senseof financial security was always there as there were more

earningmembers. Times have changed and the nuclear family has emerged.

Apartfrom the other pitfalls of a nuclear family, a high sense of insecurity is “STRESS

MANAGEMENT”

21.22. SAAB MARFIN MBAobserved in it today besides, the family has shrunk. Needs

are increasingwith time and fulfillment of these need is a big question mark. How will

you be able to satisfy all those needs? Better lifestyle,good education, and your long

desired house. But again you just cannotfritter away all your earnings. You need to

save a part of it for the futuretoo a wise decision. This is where insurance helps you.

Factors such as fewer numbers of earnings members, stress,pollution increased

competition, higher ambitions etc are some of thereasons why insurance has gained

importance and where insurance playsa successful role.An OverviewInsurance

business is divided into four classes:1) Life Insurance business2) Fire3) Marine4)

Miscellaneous Insurance. Life Insurers transact life insurance business; the rest istransactedby General Insurers. No composites are permitted as per law.

Thebusiness of Insurance essentially means defraying risks attached to anyactivity

over time (including life) and sharing the risks between variousentities, both persons

and organizations. Insurance companies (ICs) areimportant players in financial

Markets as they collect and invest large amounts of premium.Insurance products are

multi purpose and offer the following benefits: 1. Protection to the investors “STRESS

MANAGEMENT”

22.23. SAAB MARFIN MBA 2. Accumulate savings 3. Canalize savings into sectors

needing huge long terminvestments. ICs receive, without much default, a steadycash stream ofpremium or contributions to pension plans. Various actuary studies

andmodels enable them to predict, relatively accurately, their expected cashoutflows.

Liabilities of ICs being long-term or contingent in nature,liquidity is excellent and their

investments are also long-term in nature.Since they offer more than the return on

savings in the shape oflife-cover to the investors, the rate of return guaranteed in

theirinsurance policies is relatively low. Consequently, the need to seek highrates of



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returns on their investments is also low. The risk-return trade offis heavily tilted in

favour of risk. As a combined result of all this,investments of insurance companies

have been largely in bonds floatedby GOI, PSUs, state governments, local bodies,

corporate bodies andmortgages of long term nature. The last place where

Insurancecompanies are expected to be over-active is bourses. Lately ICs haveventured into pension schemes and mutual fundsalso. However, life insurance,

constitutes the major share of insurancebusiness. Life Insurance depends upon the

laws of mortality and therelies the difference between life and general insurance

businesses. Life hasto extinguish sooner or later and the claim in respect of life is

certain. Incase of general insurance, however, there may never be a claim and

theamount can never be ascertained in advance. Hence, Life Insuranceincludes,

besides covering the risk of early happening of an event, anelement of savings also

for the beneficiaries. Pension business alsoderives from life insurance in as much as

the pension outgo again “STRESS MANAGEMENT”

23.24. SAAB MARFIN MBAdepends upon the laws of mortality. The forays made by

insurancecompanies in this area are, therefore, natural corollary of their

business.TYPES OF INSURANCE POLICIES Broadly there are 3 types of life

insurance policies: a. Term Insurance Plans b. Whole Life Insurance c. Endowment

Insurance PlansTerm Insurance Plans: “STRESS MANAGEMENT”

24.25. SAAB MARFIN MBA Pure life covers where you pay for risk cover and do not

expectto receive anything else in return is now available in India. Opting forsuch

policy will improve the efficiency of policy premium and enable youfor a bigger risk

cover for the same cost. These are term insurance planswith maturity benefits; some

term plans give your premium amountsback with interest. This is a marketing policyto suit the generalpsychology and should normally involve higher premium

cost.Whole life insurance plans: Whole life policies require you to pay premium

through out yourlife and cover risk for whole life. The policies without profit are

cheaper.Endowment Insurance plans (with or without money back): Endowment

policies are costliest and among this group, moneyback policies involve paying

highest premium. They give you maturitybenefits (normally sum assured) and

additional profit by way of bonus,guaranteed additions; loyalty bonus etc. money

policies also providepartial payment back to you at pre-set time periods. “STRESS

MANAGEMENT”25.26. SAAB MARFIN MBA DEFINITION OF SOME TYPES OF POLICIES1. ANNUITY

An annuity is a steady stream of equal payments that one receivesevery year, or

every month either for life or a fixed number of years, asreturn after making an

investment either as a lump sum or throughinstallments paid over a certain number

of years, a specific sum. Uponthe death of the annuitant, or at the expiry of the

period fixed for annuitypayments, the invested annuity fund is refunded usually along



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with asmall bonus. Annuities differ from all other forms of life insurance in

onefundamental way-they do not provide any insurance cover but offer aguaranteed

income for a certain period or for life. Typically annuities are bought to generate

income during onesretired life, which is why they are also called pension plans. An

annuityprovides a solution to the biggest financial insecurity of old age retiresand theincome from salary ceases.2. ENDOWMENT Endowment policies cover the risk for a

specified period at the endof which the sum assured is paid back to the policyholder

along with theentire bonus accumulated during the term of the policy. It is this

featurethe payment of the endowment to the policyholder upon the completionof the

policys term, which rightly accounts for the popularity ofendowment policies.

Typically, ones responsibility for the financial protection of thefamily reduces

significantly once the children are grown up andindependently settled. The focus

then shifts to managing a smaller familyperhaps only oneself and ones spouse after

retirement/ this is where theendowment the original sum assured and the

accumulated bonus “STRESS MANAGEMENT”

26.27. SAAB MARFIN MBAreceived back comes handy. You can either use the

endowment amountfor buying an annuity policy to generate a monthly pension for

the wholelife, or put it in any other suitable investment of your choice. This is

themajor benefit of an endowment policy over a whole life.3. MONEY BACK Unlike

endowment plans, in money back policies the policyholdergets periodic "survivance

payments" during the term of the policy and alump sum amount on surviving its term.

In the event of the death duringthe term of the policy, the beneficiary gets full sum

assured without anydeductions for the amount paid till date, and no further premiums

arerequired to be paid. These types of policies are very popular, since theycan betailored to get large amount at a specific periods as per the needsof the

policyholder.FUTURE OF LIFE INSURANCE MARKET Even at modest estimates

the size of life insurance market in Indiacould be around Rs. 40000 billion covering

just 250 mn people… LIC had enjoyed the monopoly of the big life insurance

marketsince 1956. LIC was in for a surprise now an then when it found that,among

air crash casualties or rail accident victims, only very few had lifeinsurance cover. In

fact LIC did attempt to evaluate the size of the marketand look at broad

homogeneous segments of the market based on thedata provided by Decennial

Census Report relating to worker populationcategorized into groups based onoccupations. However LICs majorsegmentations were the urban, rural, male, female,

medical andnon-medical segments. The census of occupation data was used more

asa framework for formulating the business plans. But, now with the entryof new

player, very conscious of their market shares, the evaluation of the “STRESS

MANAGEMENT”

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27.28. SAAB MARFIN MBAsize of the market for life insurance assumes importance.

The marketsize with its viable segments is to be identified and suitable products

tomeet the needs of these segments developed. Life insurance market covers the

entire age range of thepopulation of 1000 mn in India. However taking into account

theireconomic conditions and their ability to pay the premium for somesort lifeinsurance cover or an annuity, the number of eligibleprospects for life insurance may

be put around 30% of the totalpopulation viz, 300 mn. LIC has on its books as on

date 125 mnpolicies. Research had shown, that each of these holders of thepolicies

have on an average, 1.6 (as many policy holders have morethan one policy). Thus

the no of persons holding life insurancepolicies with LIC good work out to 75 mn.

This means only 25% ofthe potential market has so far covered, leaving the

remaining 75%- avast market of 225 mn persons- to be covered.Market size ever

expanding…This market size is dynamic and ever expanding. The growth is

dictatedby several factors such as: 1. An addition of around 20 mn of new population

each year. 2. More and more persons due to improvements in economic conditions

move continuously into the zone of people with ability to pay premium for a life

insurance policy. 3. Many among the existing policyholders are grossly under

insured. They need and can afford additional insurance. These can be made to join

the market as potential prospects for additional “STRESS MANAGEMENT”

28.29. SAAB MARFIN MBA insurance. These form the creamy layers market capable of

being very good source of high volume of business. Taking all these factors into

account it can be seen that the size ofthe market for life insurance in India is

enormous. Assuming the numberof persons who can be sold an insurance policy to

be 250 mn, in terms ofnumber of policies, this works out to 400 mn policies. Infinancial terms,taking the average size of the policy as Rs 1 lakh, the sum assured

worksout to Rs 40000 bn or $ 800 bn. The first years premium income can

beassume as Rs 6250 per annum per policy. The figures would keepincreasing year

by year due to the improvement in the economicconditions leading to increase in the

number of potential prospects . “STRESS MANAGEMENT”

29.30. SAAB MARFIN MBACOMPANY PROFILE “STRESS MANAGEMENT”

30.31. SAAB MARFIN MBA COMPANY PROFILEICICI GROUPOVERVIEW OF ICICI

BANK ICICI Bank is Indias second-largest bank with total assets of aboutRs.146,214

crore at December 31, 2004 and profit after tax of Rs. 1,391crore in the nine monthsended December 31, 2004 (Rs. 1,637 crore infiscal 2004). ICICI Bank has a network

of about 530 branches andextension counters and over 1,880 ATMs. ICICI Bank

offers a wide rangeof banking products and financial services to corporate and

retailcustomers through a variety of delivery channels and through itsspecialized

subsidiaries and affiliates in the areas of investment banking,life and non-life

insurance, venture capital and asset management. ICICIBank set up its international



12/29

banking group in fiscal 2002 to cater to thecross-border needs of clients and

leverage on its domestic bankingstrengths to offer products internationally. ICICI

Bank currently hassubsidiaries in the United Kingdom and Canada, branches in

Singaporeand Bahrain and representative offices in the United States, China,

UnitedArab Emirates, Bangladesh and South Africa “STRESS MANAGEMENT”31.32. SAAB MARFIN MBA ICICI Banks equity shares are listed in India on the Stock

Exchange,Mumbai and the National Stock Exchange of India Limited and

itsAmerican Depositary Receipts (ADRs) are listed on the New York StockExchange

(NYSE). As required by the stock exchanges, ICICI Bank has formulated aCode of

Business Conduct and Ethics for its directors and employees. At April 4, 2005, ICICI

Bank, with free float market capitalization*of about Rs. 308.00 billion (US$ 7.00

billion) ranked third amongst all thecompanies listed on the Indian stock exchanges.

ICICI Bank was originally promoted in 1994 by ICICI Limited, anIndian financial

institution, and was its wholly-owned subsidiary. ICICIsshareholding in ICICI Bank

was reduced to 46% through a public offeringof shares in India in fiscal 1998, an

equity offering in the form of ADRslisted on the NYSE in fiscal 2000, ICICI Banks

acquisition of Bank ofMadura Limited in an all-stock amalgamation in fiscal 2001,

andsecondary market sales by ICICI to institutional investors in fiscal 2001and fiscal

2002. ICICI was formed in 1955 at the initiative of the WorldBank, the Government of

India and representatives of Indian industry. Theprincipal objective was to create a

development financial institution forproviding medium-term and long-term project

financing to Indianbusinesses. In the 1990s, ICICI transformed its business from

adevelopment financial institution offering only project finance to adiversified financial

services group offering a wide variety of productsand services, both directly andthrough a number of subsidiaries andaffiliates like ICICI Bank. In 1999, ICICI become

the first Indian companyand the first bank or financial institution from non-Japan Asia

to be listedon the NY After consideration of various corporate structuringalternatives

in the context of the emerging competitive scenario in theIndian banking industry,

and the move towards universal banking, the “STRESS MANAGEMENT”

32.33. SAAB MARFIN MBAmanagements of ICICI and ICICI Bank formed the view that

the merger ofICICI with ICICI Bank would be the optimal strategic alternative for

bothentities, and would create the optimal legal structure for the ICICI

groupsuniversal banking strategy. The merger would enhance value forICICIshareholders through the merged entitys access to low-cost deposits,greater

opportunities for earning fee-based income and the ability toparticipate in the

payments system and provide transaction-bankingservices. The merger would

enhance value for ICICI Bank shareholdersthrough a large capital base and scale of

operations, seamless access toICICIs strong corporate relationships built up over

five decades, entryinto new business segments, higher market share in various



13/29

businesssegments, particularly fee-based services, and access to the vast talentpool

of ICICI and its subsidiaries. In October 2001, the Boards ofDirectors of ICICI and

ICICI Bank approved the merger of ICICI and two ofits wholly-owned retail finance

subsidiaries, ICICI Personal FinancialServices Limited and ICICI Capital Services

Limited, with ICICI Bank. Themerger was approved by shareholders of ICICI andICICI Bank in January2002, by the High Court of Gujarat at Ahmedabad in March

2002, and bythe High Court of Judicature at Mumbai and the Reserve Bank of India

inApril 2002. ICICI Bank is Indias second largest bank wit an asset base of

Rs.106812 crores. ICICI bank provides a broad spectrum of financial servicesto

individuals and companies. This includes mortgages, car and personalloans, credit

and debit cards and corporate and agricultural finance. Thebank services a growing

customer base of more than 7 mn customeraccounts and five mn bondholders

accounts through a multi channelaccess network. The includes about 450 branches

and extension counters,1675 ATMs, call centers and Internet banking. ICICI bank

posted a netprofit of Rs 1206 Crore for the year ended March 31, 2003. ICICI bank is


33.34. SAAB MARFIN MBAthe only Indian company to be rated above the country

rating by theinternational rating agency Moodys and only the Indian company to

beawarded an investment grade international credit rating. The enjoys thehighest

rating from all Indian leading rating agencies.OVERVIEW OF ICICI VENTURE

WINGICICI Venture, incorporated in 1988, is the most experienced and

largestprivate equity and venture fund management company in India with

fundscurrently under management in excess of Rs.20 billion (USD 400 million). Over

the last 15 years, ICICI Venture has been successful inidentifying trends well aheadof the curve; be it retail, media andentertainment, information technology, real estate

or pharmaceuticalsand biotechnology. During this period ICICI Venture launched

andmanaged 8 funds with a corpus exceeding Rs. 20billion (USD 400 million).Each

fund had a distinct investment theme and ICICI Venture today hassome of the best

known and managed companies in India in its portfolio. “STRESS MANAGEMENT”

34.35. SAAB MARFIN MBAHerein ICICI Venture has followed the philosophy of being a

multi-sectorplayer ensuring an optimum balance of risk and return to its investors.

ICICI Venture has the distinction of managing a large number ofexits in the country.

With over 100 liquidity events, the organization hasreaped rich experience and is wellpositioned to handle IPOs, strategicsale and/or mergers. ICICI Venture has a wide

network of third party investors, whichinclude domestic investors such as public

sector banks, financialinstitutions and insurance companies. A significant portion of

the fundscorpus is also from international development financial institutions

andinternational funds. The company has over 25 qualified professionals with

experienceacross sectors and functions. The capabilities of the team, structure ofthe



14/29

organization, emphasis on value creation and performance evaluationmatrices

enable ICICI Venture to extract superior returns from itsinvestments. ICICI Venture

has now launched the India Advantage Fund, with acorpus of Rs.10 Billion (USD 225

million). The Fund will invest inmid-sized growth companies for funding through

expansions,acquisitions and restructuring. The Fund will also focus onmezzaninefunding and buyouts.ICICI PRUDENTIAL “STRESS MANAGEMENT”

35.36. SAAB MARFIN MBA ICICI PRUDENTIAL Life Insurance was established in 2000

with acommitment to expand and reshape the life insurance industry in India.The

company was amongst the first private sector insurance company tobegin operations

after receiving approval from Insurance RegulatoryDevelopment Authority (IRDA),

and in the same time since, has takenseveral steps towards realizing its goal.THE

COMPANY ICICI PRUDENTIAL Life Insurance Company is a joint venturebetween

ICIC, a premier financial powerhouse and prudential plc; aleading international

financial services group headquarters in the UnitedKingdom. ICICI Prudential was

amongst the first private sector insurancecompany to begin operations in December

2000 after receiving approvalfrom Insurance Regulatory Development Authority

(IRDA). ICICI and PRUDENTIAL came together in 1993 to form prudentialICICI

Asset Management Company, which has today emerged as one ofthe leading mutual

funds in India. The two companies bring together twoof the strongest financial

service brands in Asia, known for theirprofessionalism, excellent quality of service

and long term commitmentto customers. Riding on the success of this relationship,

the twocompanies joined hands once more in 2000, to form ICICI PRUDENTIALLIFE

INSURANCE, with a commitment to provide leading -edge lifeinsurance solutions.

ICICI Bank has 74% stake in the company, andPrudential plc has 26%. To makeICICI Prudential the dominant Life and Pensions playerbuilt on trust by world-class

people and service.This we hope to achieve by: “STRESS MANAGEMENT”

36.37. SAAB MARFIN MBA 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 unflinchingcommitment to 5 core values -- Integrity, CustomerFirst, Boundaryless,Ownership and Passion. Each of the values describe what the

companystands for, the qualities of our people and the way we work We do believe

that we are on the threshold of an exciting newopportunity, where we can play a

significant role in redefining andreshaping the sector. Given the quality of our

parentage and thecommitment of our team, there are no limits to our

growth.PRUDENTIAL PLC Established in 1848, Prudential Plc is a leading



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internationalfinancial services company in UK with around US $ 250 bn funds

undermanagement, and more than 16 million customers worldwide. Prudentialhas

brought to market an integrated range of financial services productsthat now

includes: life assurance pensions mutual funds “STRESS MANAGEMENT”

37.38. SAAB MARFIN MBA banking investment management general insurance In AsiaPrudential is UKs largest life insurance company with a vastnetwork of 22 life and

mutual fund operations in 12 countries: China,Hong Kong, India, Indonesia, Japan,

Korea, Malayasia, Philippines,Singapore, Taiwan, Thailand, Vietnam. Since 1923,

prudential haschampioned customer centric products and services, supported by

over60000 staff and agents across the region.DISTRIBUTION ICICI PRUDENTIAL

has one of the largest distribution networksamongst private life insurance in India,

having commenced operations in28 cities and towns in India. These are:

Ahmedabad, Bangalore,Chandigarh, Chennai, Coimbatore, Gurgaon, Hyderabad,

Indore, Jaipur,Jalandhar, Kanpur, Cochin, Kolkotta, Kottaym, Lucknow,

Ludhiana,Madurai, Mangalore, Meerut, Nagpore, Nasik, Nodia, New Delhi,

Pune,Thane, Vododara, Vashi. The company has a largest number of banc

assurance tie-ups,having agreement with ICICI Bank, Citi Bank, Allahabad bank,

Federalbank, South Indian Bank, Bank of India, Lord Krishna Bank, Punjab

andMaharashtra co-operative Bank, as well as some corporate agents. It hasalso

tied-up with organizations like Dahn for distribution of SalaamZindagi, a policy for the

socially and economically under privilegesections of society.SERVICE ICICI

PRUDENTIAL has recruited and trained over 18000 insuranceagents to interface

with and advice customers, and has the highest “STRESS MANAGEMENT”

38.39. SAAB MARFIN MBAnumber amongst private life insurers on the renownedMillion DollarRound table (MDRT). Further, it leverages its state-of-the-art

ITinfrastructure to provide superior quality of service to customers.MILESTONES

ICICI PRUDENTIAL life insurance has crossed Rs 500 crore premiumincome mark

on March 31, 2003 having issued nearly 350000 policies fora sum assured of Rs

8700 crore since its inception. The last fiscal had been significant growth for ICICI

PRUDENTIALacross all segments, with 246827 policies issued in the period

April2002-March 2003, and Rs 348 Crore premium from new business in thesame

period, a 200 per cent growth over the previous fiscal (April2001-March 2002). The

company had also met all its rural and social sector obligations,said a press release.The growth been driven by pensions and unit linkedproducts. It has garnered 23% of

pensions premium amongst all playersfor the period April 2002-February 2003 and

34% in Feb alone. Today thecompany has established itself the number one private

life insurer in thecountry.HISTORY: Incorporated on July 20, 2000 it is a 74:26, joint

venture betweenICICI and Prudential plc of U.K. in November 2000, ICICI Prudential

LifeInsurance was granted Certification of Registration for carrying out LifeInsurance



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business by the insurance Regulatory & Development Authorityof India. The

company issued its first policy on December 12, 2000.Year of review 2002-2003:

ICICI Prudential has consolidated its position as the leading privatelife insurer in

India. ICICI Prudentials annualized premium grew more “STRESS MANAGEMENT”

39.40. SAAB MARFIN MBAthan three fold over the previous year. Continuing with itsCustomerFirst philosophy, ICICI Prudential has significantly expanded its presenceto

29 operational Branches (2001-2002: 16), with the Advisor Forcegrowing to over

18000. It has also strengthened its Alternate Distributionchannels, i.e.

Bancassurance, Corporate Agents and Direct Marketing,making purchase of

insurance more accessible. Bancassurance and DirectMarketing channels have

contributed to over 18% of the AnnualizedPremium. ICICI Prudential was amongst

the first to identify the emergingopportunity in the Pension segment and launched

two linked pensionproducts Life time Pension and Life Link Pension, which have

been wellreceived in the market. MANAGEMENTBOARD OF DIRECTORS ICICI

Prudential Life Insurance Company Limited Board comprisesreputed people from the

finance industry both from India and abroad.Mr. K.V. Kamath, ChaimanMr. Mark

NorbonMrs. Lalita D. GupteMrs. Kalpana MorpariaMrs. Chanda KochharMr. Kevin

HolmgrenMr. M.P.ModiMr. R NaryananMs Shikha Sharma “STRESS

MANAGEMENT”

40.41. SAAB MARFIN MBAMANAGEMENT TEAMMs Shikha Sharma, Managing

DirectorMr. Sandeep Batra, Chief Financial Officer & Company SecretaryMr.

Shubhro J. Mitra, Chief - Human ResourcesMr. Puneet Nanda, Head -

InvestmentsMs. Anita Pai, Chief - Operations & UnderwritingMr. V. Rajagopalan,

Appointed ActuaryMr. Shridhar Sethuram, Chief - Sales & MarketingMr. Anil Tikoo,Head - Information Technology. “STRESS MANAGEMENT”

41.42. SAAB MARFIN MBA VISION-MISSIONVISION To make ICICI Prudential the

dominant Life and Pensions playerbuilt 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. “STRESS MANAGEMENT”

42.43. SAAB MARFIN MBA Providing an enabling environment to foster growth andlearning for our employees. And above all, building transparency in all our

dealings.The success of the company will be founded in its unflinchingcommitment

to 5 core values: Integrity Customer First Boundaryless Ownership Passion Each of

the values describe what the company stands for, thequalities of our people and the

way we work. We do believe that we areon the threshold of an existing new

opportunity, where we can play asignificant role in redefining and reshaping the



17/29

sector. Given the qualityof our parentage and the commitment of our team, there are

no limits toour growth.VISION-MISSION To be dominant life and pension players

built on trust byworld class people and service.INTEGRITY “STRESS

MANAGEMENT”

43.44. SAAB MARFIN MBA Stand up honestly and fearlessly for what they truly careabout. Always act in a consistent and equitable manner. Don’t compromise the future

to pay for the present.CUSTOMER FIRST Own the customer: Deliver the promise.

Listen actively, stretch continually to add value to customers and channel

partnersBOUNDARYLESS Never say "its not my job" go beyond the call of duty.

Experiment- believe anything is possible Seek new ideas regardless of source Share

ideas and thoughts freely across levels and functionsOWNERSHIP If it is to be, it is

up to me Bias for action Own mistakes. Learn from failures Confront hard facts,

pursue goals relentlessly Accountable for team performancePASSION “STRESS

MANAGEMENT”

44.45. SAAB MARFIN MBAWinning instinct- transmit boundless energy and

enthusiasmto drive resultsStand up and make a difference - challenge status quo

anddrive changeDemonstrate speed for competitive advantagePassionately nurture

and reward excellence “STRESS MANAGEMENT”

45.46. SAAB MARFIN MBA PRODUCTS PRODUCTSInsurance Solutions For

Individuals: “STRESS MANAGEMENT”

46.47. SAAB MARFIN MBA ICICI PRUDENTIAL Life Insurance offers a range of

innovative, customercentric products that meet the needs of customer at every life

stage. Its 13products can be enhanced with up to four riders, to create a

customizedsolution for each policyholder.Saving Solutions ICICI PRUDENTIAL Saveand Protect is a traditional endowmentsavings plan that offers life protection along

with adequate returns. ICICI PRUDENTIAl CashBank is an anticipated endowment

policyideal for meeting milestone expenses like a childs marriage, expensesfor childs

education or purchase of an asset.Protection Solutions ICICI PRUDENTIAL Life

Guard is a protection plan, which offers lifecovers at very low cost. It is available in

three options - level termassurance, level assurance with return of premium and

single premium.Child Solutions ICICI PRUDENTIAL Smart Kid provides guaranteed

educationalbenefits to a child along with life insurance cover for the parent

whopurchases the policy. The policy is designed to provide money atimportantmilestones in childs life.Market Linked Solutions ICICI PRUDENTIAL LifeLink is a

single premium Market LinkedInsurance Plan, which combines life insurance cover

with the opportunityto stay, invested in the stock market. “STRESS MANAGEMENT”

47.48. SAAB MARFIN MBA ICICI PRUDENTIAL LifeTime offers customers the flexibility

andcontrol to customize the policy to meet the changing needs at differentlife stages.

It offers three investment options Growth Plan Income Plan Balanced

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PlanRetirement Solutions ICICI PRUDENTIAL Forever Life is retirement product

targeted at individuals in their 30s ICICI PRUDENTIAL LifeTime Pension is a regular

premium market linked pension plan. ICICI PRUDENTIAL LifeLink Pension is a

single premium market linked pension plan.Single Premium Solutions ICICI

PRUDENTIAL Assure Invest is a single premium savings product with life cover forterms of 5, 7 or 10 years. ICICI PRUDENTIAL Reassure is a retirement product for

senior citizens who are on the verge of retirement or have just retired. ICICI

PRUDENTIAL also launched "salaam zindagi", a social sector group insurance

policy targeted at the economically under privileged sections of the society.Group

Insurance Solutions ICICI PRUDENTIAL also offers Group Insurance Solutions

forcompanies seeking to enhance benefits to their employees. “STRESS

MANAGEMENT”

48.49. SAAB MARFIN MBA ICICI PRUDENTIAL Group Gratuity Plan: ICICI Prus Group

GratuityPlan helps employers fund their statutory gratuity obligation in ascientific

manner. The plan can also be customized to structure schemesthat can provide

benefits beyond the statutory obligations.ICICI PRUDENTIAL GROUP

SUPERANNUATION PLAN: ICICI Pru offers a flexible defined contribution

superannuationscheme to provide a retirement kitty for each member of the

group.Employees have the option of choosing from various annuity options oropting

for a partial commutation of the annuity at the time of retirement.ICICI PRUDENTIAL

GROUP TERM PLAN: ICICI Prus flexible group term solution helps to provide

affordablecover to members of a group. The cover could be uniform or

baseddesignation or rank or a multiple of salary. The benefit the policy is paidto the

beneficiary nominated by the member on his/her death.FLEXIBLE RIDER OPTIONS;ICICI PRUDENTIAL life offers for flexible riders, which can be addedto the basic

policy at a marginal cost, depending on the specific needs ofthe customer. Accident

and disability benefit: if the death occurs as the result of an accident during the term

of the policy the beneficiary receives an additional amount equal to the sum assured

under the policy. If the death occurs while Level Term Cover: This rider provides the

option to increase the risk cover. It may be increased for an additional amount upto a

maximum of the existing basics sum assured on your policy “STRESS

MANAGEMENT”

49.50. SAAB MARFIN MBA Critical Illness Benefit: protects the insured against thefinancial loss in the event of 9 specified critical illnesses. Benefits are payable to the

insured for medical expenses prior to death. Major Surgical Assistance Benefit:

provides financial support in the event of medical emergencies, ensuring that

benefits are payable to the life assured for medical expenses incurred for surgical

procedures. Cover is offered against 43 different surgical

procedures.AWARENESS… According to Saugata Gupta Chief - Marketing of ICICI



19/29

Pru lifescommunication strategies have been very successful in building thebrand

and driving awareness of the company and the category.ORG-Margs Brand track

survey undertaken last year indicate that thoughawareness of LIC stands at 100%,

ICICI Pru life stands not far behind inthe second place at 70%. Further the

awareness scores for ICICI Pru lifedouble between February 2001 and September2001. ORG Marg research also showed that the communication not onlycreated

saliency and awareness, but also succeeded in influencing thebuying decision. ICICI

Pru life emerged far ahead of other private playersas far as share of wallet went, with

52% of the respondents saying thatthey intended to buy policy from ICICI Pru

life.ADVERTISING EFFECTIVENESS… ICICI Pru is a case study in the role of

marketing in reshaping anindustry. It highlights how an industry where "sell" and

"push" were oftenused words and consumer was nothing more than a file number,

haschanged to one where "consumer preference" and "consumer pull" rulethe roost.

Heres a look at how ICICI Pru changed the rules of the gamesand emerged a leader

in the process. “STRESS MANAGEMENT”

50.51. SAAB MARFIN MBABACKGROUND When the insurance sector was liberalized

in 2000, the privateplayers contend with a few issues. Ratio of premium to GDP was

low:1.3% of GDP was invested in insurance. Insurance penetration was at

anabysmal 22% of insurable population. Besides the above the privateplayers were

faced with attitudinal barriers, perception of insurance has atax saving tool and lack

of a consumer centric approach in service andproduct offerings.THE MARKETING

CHALLENGES FACING ICICI Pru: The challenge therefore was to change

established category drivers(death payment and Tax saving) and to get the

consumer to evaluatedinsurance on a more emotional plat form rather than a mererationaldecision. (tax savings).THE CAMPAIGN OBJECTIVES: Reposition the

category in the consumers mind. Influence the consumer to view it as a protection

instrument and not a tax saving product alone. In the process, create differentiation

for the ICICI Pru brand as a provider of social security and family protection. Achieve

leadership status in saliency, image and product parameters. Build credibility and

trust.CREATIVE STRATEGY: The essence of the creative strategy is to get the

consumer to relook at insurance as a means to lead a worry free life and not as

anecessary evil. To this effect the core brand insight highlighted was "As “STRESS

MANAGEMENT”51.52. SAAB MARFIN MBAhead of the family, it is my responsibility to take care of my

loved onesand protect them from the uncertainties of life", summed up in

theadvertising idea: we cover you at every step in lifeMARKET STRATEGY: In a

market likely to be cluttered, we used multiple touch points toreach the consumer.

The role for each medium was envisaged. The TVmedium was used to enhance the

emotional link with the brand. Strategicuse of 15 sec. Edits facilitated high frequency



20/29

levels. In print, the cost perresponse rather than the cost per thousand as responses

were measuredin form of call-ins. Radio FM, Cinema, Internet were used to create

amedia multiplier effect.THE RESULTS OF COMMUNICATION EFFORTS: Being

number one in awareness and saliency. Awareness: ICICI Prushowed a significant

jump in awareness between Feb and Sept 2001.Image: highest score among allinsurance players including LIC, on imageparameters like safety, modernity, service,

good returnsEtc. intention to invest: next only to LIC as per researchSUM UP In just

over a year ICICI PRUDENTIAL has emerged as Indias # 1private life insurance

company with almost 50% of the private players hassold highest number of policies

both in volume and value. “STRESS MANAGEMENT”

52.53. SAAB MARFIN MBA FINDINGS &ANALYSIS “STRESS MANAGEMENT”

53.54. SAAB MARFIN MBAANALYSIS OF THE QUESTIONNARIE OF THE

EMPLOYEES1. Do you have various other interests (social, religious), which remain

neglected because you do not get time to attend to these Never 8% “STRESS

MANAGEMENT”

54.55. SAAB MARFIN MBAOccasionally 4%Sometimes 52%Frequently 36%Very 0%


55.56. SAAB MARFIN MBA2. Do you feel stagnant in your role Never 4% Occasionally

12% Sometimes 32% Frequently 52% Very 0% “STRESS MANAGEMENT”

56.57. SAAB MARFIN MBA3. Are you able to satisfy the conflicting demands of the

various peerlevel people Never 12% Occasionally 24% Sometimes 24% Frequently

36% Very 4% “STRESS MANAGEMENT”


58.59. SAAB MARFIN MBA4. Would you like to take more responsibility than at presentNever 8% Occasionally 24% Sometimes 16% Frequently 36% Very 16% “STRESS

MANAGEMENT”

59.60. SAAB MARFIN MBA5. The amount of work you have to do interferes with the

quality youwant to maintain Never 4% Occasionally 4% Sometimes 48% Frequently


60.61. SAAB MARFIN MBA6. Is there not enough interaction between your role and

other roles “STRESS MANAGEMENT”

61.62. SAAB MARFIN MBANever 8%Occasionally 8%Sometimes 32%Frequently

52%Very 0% “STRESS MANAGEMENT”62.63. SAAB MARFIN MBA7. Do you wish to acquire more skills to handle the

responsibilities ofyour role Never 4% Occasionally 8% Sometimes 20% Frequently


63.64. SAAB MARFIN MBA8. If you had full freedom to define your role you would be

doingsome things different from what you do now Never 0% “STRESS

MANAGEMENT”

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21/29

64.65. SAAB MARFIN MBAOccasionally 16%Sometimes 44%Frequently 20%Very 20%


65.66. SAAB MARFIN MBA9. Several aspects of your role are vague and unclear Never

40% Occasionally 16% Sometimes 12% Frequently 32% Very 0% “STRESS

MANAGEMENT”66.67. SAAB MARFIN MBA10. Do you wish to have more financial resources for the

workassigned to you Never 4% Occasionally 4% Sometimes 4% Frequently 28%

Very 60% “STRESS MANAGEMENT”


68.69. SAAB MARFIN MBA ANALYSISSUMMARY OF ANALYSISThe analysis of the

project: “STRESS MANAGEMENT”

69.70. SAAB MARFIN MBAMost of the employees feel that their other social

aspectsremain neglected due to workload, which is incompatiblewith organizational

role.Most of the employees feel that their roles are stagnantSome of the employees

are not able to satisfy the conflictingdemands of the various peer level people.Most

of the employees would like to take more responsibility thanthe presentMost of the

employees feel that their work interferes with thequality they want to maintain in their

jobMost of the employees feel that there is not enough interactionbetween their role

and other roles because each one of them isworking independently.Most of the

employees wish to acquire more skills to handle theresponsibilities of their roleSome

of the employees feel that if they are given full freedom todefine their role they will do

some things different from what theydo now.Most of the employees feel that they

should be provided with morefinancial resources for the work assigned. “STRESS

MANAGEMENT”70.71. SAAB MARFIN MBASUGGESTIONS “STRESS MANAGEMENT”

71.72. SAAB MARFIN MBASUMMARY OF SUGGESTIONS When an individual

occupies more than 1 role there are bound to be conflicts between the different roles

that he occupies. Such inter-role conflicts are quite frequent in a modern society,

where an individual is increasingly occupying multiple roles in various organizations

and groups. So the organization should throw a light on their employees social

aspects. The organization should improve the facilities for leisure and recreation; fact

of people doing things for enjoyment, when they are not working. The organization

should arrange programs for entertainment. Also a place for relaxation. Create aplace for indoor games like carom, table tennis etc As the individual grows older, he

also grows in the role that he occupies in an organization of the individual that the

role changes, and with this change in role, the need for taking up a new role

becomes crucial. In order to be “STRESS MANAGEMENT”

72.73. SAAB MARFIN MBApromoted the nit managers have to reach certain targetsset

to them. Reaching these targets sometimes becomesvery difficult. This is bound to

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Icicici Project