Arpit Singh Rathore

RESEARCH PROJECT REPORT
ON
“INVESTOR’S PERCEPTION TOWARDS

INSURANCE POLICIES AT ICICI PRUDENTIAL LIFE
INSURANCE COMPANY LTD., LUCKNOW”
Towards partial fulfilment of

Master of Business Administration (MBA)
School of Management, Babu Banarasi Das University, Lucknow
Presented By:
ARPIT SINGH RATHORE
Roll No. 1220672087
MBA 4th Semester
INTRODUCTION
Banks or banking was an important part of our everyday lives. The way humans used to
deposit and withdraw their money has changed absolutely. With the emergence of e-
commerce Internet banking has changed banking's face completely.
One of the most strong private sector banks in this study , ICICI Bank is the focus of
discussion. The bank has also played a role in building India 's business infrastructure as well
as UTI has set up CRISIL, India's credit rating agency. The performance of the organization
has certainly improved over the years , and is expected to improve in the future.
Insurance is the pooling of fortuitous risks by assigning that responsibility to insurers who
have agreed to provide the pecuniary gain upon their occurrence or to provide risk- related
services. At the point of incidence transferring financial responsibility for the riskand
conventionally includes the insurer in a pay agreement. The insurance business results in an
effective and successful allocation of capital resources, and promotes trade and trade
development. Globalization would undoubtedly increase the penetration of insurance and will
empower all practitioners to leverage the opportunities provided by this market.
The study of Investors perception enables to understand and predict behavior. It also
promotes awareness of the role consumption plays in the life of the ICICI bank, which has
maintained its lead among professional life insurance companies with about 39 per cent
market share. The greatest accomplishment is in the sector of pensions, where the company
launched a slew of products and gained about 23 percent of the overall market in pensions.
COMPANY PROFILE
OBJECTIVE OF STUDY
• To evaluate ICICI PRUDENTIAL memory of respondents.
• To assess the degree of perception of the customer’s with the services offered by India
Infoline.
• To List the characteristics attributed to life insurance plans by prospective buyers.
• To determine the awareness level of consumers regarding life insurance policies and the
number of consumers who have actually invested in life insurance policies.
• To examine the attributes that consumers prefer while purchasing a life insurance policy.
RESEARCH METHODOLOGY
Insurance is the pooling of fortuitous risks by assigning liability to insurers who plan to provide the pecuniary gain upon
their occurrence, or to make related service and conventionally includes the insurer in a payment agreement. The
insurance sector results in an effective and successful allocation of capital resources, which promotes trade and trade
development. Globalization would definitely increase the penetration of insurance and empower all practitioners to
exploit the opportunities presented by that sector.
Sample Design
Population : All the customers of ICICI
Sampling Technique: Random Quick Sampling
Sample size: 100 customers sample size
Data collection tool: Questionnaire is the research instrument for gathering the study's primary data.
LIMITATION
• The research isn't limitations-free. Below are the study 's

significant limitations.
• The Period allotted for project completion is less and so there
are chances that any details might have been left out.
• It's hard to say whether the same information was provided by
all of the respondents. Some respondents appear to offer
information which is misleading.
• The research is restricted only to the city of Lucknow City.
DATA INTERPRETATION AND ANALYSIS
Compared to other competitors and rivals how do you rate ICICI Prudential Insurance
Interpretation
ICICI Prudential Life Insurance Customers were selected and interviewed to ascertain the buying behavior.
Sample Size / Universe being 100.
When analyzing the comparison standings of ICICI Prudential against their competition, 51% of the
respondents felt they are much better than the competition and 31% emphasized that they were somewhat
better, 15% felt that they all were same 3% gave a negative feedback.
The positive category is 51% and 31% and when consolidated the tally goes to 81% which is almost more than
2/3rd majority of the universe.
Hence, ICICI Prudential customers are brand loyal and have a positive feedback and respect and value for
their money and better than their rivals / competition.
Overall, how satisfied are you with ICICI Prudential Insurance?
Interpretation
ICICI Prudential Life Insurance Customers equivalent to 100 respondents were selected and
interviewed to ascertain the buying behavior. Sample Size / Universe being 100.
When analyzing attributes which yielded satisfaction to the customers of ICICI products, 36% of
the respondents related with the overall quality and 29% with the First Usage Experience and
20% with the value of the product and 15% with the buying experience.
The positive category is 36% and 29% and when consolidated the tally goes to 65% which is
almost 2/3rd majority of the universe.
Hence, ICICI Prudential Life Insurance Customers customers are brand loyal and have a positive
feedback and respect and value for their money through ICICI Prudential is based on the quality
and first usage experience.
FІNDІNGS
• The study was conducted to understand the perception level of employees
towards India Infoline With Honor to ICICI. The study's principal results were as
follows:
• Most of the customers have taken annuity policies.
• People are mainly investing in insurance policies for saving tax.
• Maximum invested annual amount by people is in the range of rupees 50000 to
100000. There is also considerable no. of people investing more than rupees
one lakh.
• The most important factor influencing purchase of insurance policy is return on
investment.
• Agents play a major role in influencing investments among respondents.
• Maximum no. of people purchase policies during the period of Jan to March to
take benefit from tax investment.
• Most of the people who invested in insurance, also invests in equity oriented
funds. There is also a portion of people who prefer moderately risky policies.
• Majority of the customers prefer to pay their premium half yearly.
SUGGESTION AND RECOMMENDATION
As there are least number of customers going in for wealth creation, they can try to educate them to
increase the sale of these policies along with maintaining the sale of benefit schemes.
The most important factor influencing the purchase of policy is the rate of return provided by the
same. As such the company should try to provide information on products where maximum return to
customers can be earned in order to retain the customers.
It is evident that agents have the greatest influence on the purchase decision of the customers. So
the company should make sure that the agents are well trained, motivated and compensated and
have the ability to convince the customers.
4 As the 4th quarter is the most preferred time for purchase of insurance policies, the company
should try to introduce deferred investment benefit and quarterly and monthly investment plans
compared from customer friendly policies during that time.
CONCLUSION
Twenty private insurers had struggled to capture more market share than the rest since the insurance sector began
in 1994. Among all companies, ICICI Prudential, with the benefit of being the first to operate in the liberalised
insurance sector, has earned a Total premium of Rs. 9,918 crores (new business + renewal) compared with Rs.
7,758 crores over the same period in FY2008 and more than 8 million policies have been followed since the launch.
It was found that about 97 percent of consumers are generally happy with ICICI Prudential goods and services, but
the survey has shown how much ICICI Prudential is behind LIC. ICICI Prudential must also be alert about dragging
its neck down with Birla Sunlife and ING VYSYA. I am confident that my results will be relevant for the company and
I sincerely hope that they will implement my advice that I hope will drive them ahead of the competition.
It was also found that around 87% of the customers are generally satisfied with the services of Infoline In India. In
short, I would like to say that the very act of the management concerned at India Infoline gives me the task of
evaluating critically the attitude of customers towards the financial products of ICICI Prudential is a step in their
ongoing task of making all the round improvements as a means of progress.
BIBLIOGRAPHY
• www.google.com
• www.wiki.project.com

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RESEARCH PROJECT REPORT

“INVESTOR’S PERCEPTION TOWARDS

Towards partial fulfilment of

• To evaluate ICICI PRUDENTIAL memory of respondents.

• To List the characteristics attributed to life insurance plans by prospective buyers.

number of consumers who have actually invested in life insurance policies.

• The research isn't limitations-free. Below are the study 's

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