Company Profile:
India’s Number One private life insurer, 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 receiving approval from insurance Regulatory Development Authority (IRDA).
ICICI Prudential capital stands at Rs. 18.15 billion with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For the 10 months ended January 31, 2007, the company garnered Rs. 3,240 crore of weighted retail + group new business premiums and wrote over 1.3 million polices. The company has assets held to the tune of over Rs. 14,000 crore.
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 (Ind) rating is the highest rating, and is a clear assurance of ICICI Prudential ability to meet its obligations to customers at the time of maturity or claims.
For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the Indian customer at every step in life.
Distribution :
ICICI Prudential has one of the largest distribution networks amongst private life insurers in India. As of January 31, 2007 the company has over 540 offices across the country and over 2,00,000 advisors.
The company has over 20 bancassurnace partners, having tie-ups with ICICI Bank, Federal Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank, Shamrao Vithal Co-operative Bank, Ernakulam Bank and 9 Bank of India Sponsored Regional Rural Banks (RRBs). It has also tide up with NGOs MFIs and of Corporate for the distribution of rural policies.
Our vision :
To make ICICI Prudential the dominant Life and Pension player built on trust by world-class people and service.
This we hope to achieve by:
Understanding the needs of customer 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.
Our values :
Every member of the ICICI Prudential team is committed to 5 crore values: Integrity, Customer First, Boundaryless, Ownership, and Passion. These values shine forth in all we do, and have become the keystones of our success.
Products Profile :
Insurance Solutions for Individuals:
ICICI Prudential Life Insurance offers a range of innovative, customer –centric products that meet the needs of customers at every life stage. It products can be enhanced with up to 4 riders, to create a customized solution for each policyholder.
Savings and Wealth Creation Solutions:
Cash plus is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options.
Save ‘n’ protect is a traditional endowment savings plan that offers life protection along with adequate returns.
Cash Bank is an anticipated endowment policy ideal for meeting milestone expenses for a child’s higher education or purchase of an asset. It is available for terms of 15 and 20 years.
Life Time Super & Life Time Plus are unit – linked plans that offer customers the flexibility and customers the flexibility and control to customize the Policy to meet the changing needs at different life stages. Each offer 4 fund options preserver, protector, Balancer and Maximize.
Life Link Super is a single premium unit linked insurance plan which combines life insurance cover with the opportunity to stay invested in the stock market.
Premier Life Gold is a limited premium paying plan specially structured for long-term wealth creation.
InvestShield Life New is a unit linked plane that provides premium guarantee on the invested premiums and ensures that the customer receives only the benefits of fund appreciation without any of the risks of depreciation.
InvestShield Cashbank is a unit linked plan that provides premium guarantee on the invested premiums along with protection Solutions.
Life Guard is a protection plan, which offers life cover at low cost. It is available in 3 options – level term assurance, level term assurance with return of premium & single premium.
Home Assure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner.
Child Plans:
Education insurance under the smartkid brand provides guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child’s life Smartkid plans also available in unit-linked form – both single premium and regular premium.
Retirement Solutions:
ForeverLife is a traditional retirement product that offers guaranteed returns for the 4 years and then declares bonuses annually.
Life time super pension is a regular premium unit linked pension plan that helps one accumulate over the ling term and offers an annuity option (guaranteed income for life) at the time of retirement.
Life link super pension is a single premium unit linked pension plan.
Immediate Annuity is a single premium annuity product that guarantees income for life at the time of retirement. It offers the benefit of 5 payout options.
Health Solutions:
Health Assure and Health Assure Plus: Health Assure is a regular premium plan which provides long term cover against 6 critical illnesses by providing policy holder with financial assistance, irrespective of the actual medical expenses. Health Assure Plus offers the added advantage of an equivalent life insurance cover.
Cancer care: is a regular premium plan that pays cash benefit on the diagnosis as well as at different stages in the treatment of various cancer conditions.
Diabetes care: Diabetes Care is the first ever critical illness product specially for individuals with Type 2 diabetes. It makes payments on diagnosis on any of 6 diabetes related critical illnesses, and also offers a coordinated care approach to managing the condition. Diabetes care Plus also offers life cover.
Group Insurance Solutions:
ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.
Group Gratuity Plan:
ICICI prudential group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory schemes that can provide benefits beyond the statutory obligations.
Group Superannuation Plan:
ICICI prudential offers both defined contribution (DC) and defined benefit (DB) superannuation schemes to optimize returns for the members of the trust and rationalize cost. Members have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement.
Group Immediate Annuities:
In addition to the annuities offered to exiting superannuation customers, we offer immediate annuities to superannuation funds not managed by us.
Group Term Plan:
ICICI prudential flexible group term solutions helps provide affordable cover to members of a group. The cover could be uniform of based on designation / rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death.
Flexible Rider options:
ICICI prudential Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer.
Accident & disability benefit : If death occurs as the result of
Critical Illness benefit: Protects the insured against financial.
Income Benefit: This rider pays the 10% of the sum assured Cash Plus.
Waiver of Premium: In case of total and permanent disability due to an accident, the future premiums continue to be paid by the company till the time of maturity. This rider is available with life Time super, Life Time Super Pension and Cash Plus.
About the promoters:
ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private sector bank with assets of Rs. 2958.32 billion as on December 31, 2006. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base through a multi-channel access network which includes over 695 branches and extension counters, 3051 ATMs, call centers and Internet banking.
Established in London in 1848, Prudential plc, thorough its businesses in the UK and Europe, the US and Asia, Provides retail financial services products and services to more than 21 million customers, policyholder and unit holders worldwide. Today, Prudential has millions of customers worldwide and over 238 billion(as of 30 June 2006) of funds under management. In Asia, Prudential is the leading European life insurance company with a vast network of life and fund management operations in thirteen countries-China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam and United Arab Emirates.
MANAGEMENT PROFILE:
Board of Director:
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. Barry Stowe
Mr. Chanda Kochhar
Mr.H.T Phong
Mr.M.P Modi
Mr.R.Narayanan
Mr.Keki Dadiseth
Mr.Shikha Sharama, Managing Director
Mr.N.S. Kannan, Executive Director
Mr.Bhargav Dasgupta, Executive Director
Management Team:
The ICICI Prudential life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad.
Ms. Shaikha sharma, managing Director & CEO
Mr. N. S. Kannan, Executive Director
Mr. Bhargav Dasgupta, Executive Director
Ms. Anita Pai, EVP-Customer Service & Technology
Mr. Azim Mithani, Chief Actuary
Mr. Puneet Nanda, Chief Investment Officer
Mr. Binayak Dutta, Chief-Sales and distribution.
India’s Number One private life insurer, 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 receiving approval from insurance Regulatory Development Authority (IRDA).
ICICI Prudential capital stands at Rs. 18.15 billion with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For the 10 months ended January 31, 2007, the company garnered Rs. 3,240 crore of weighted retail + group new business premiums and wrote over 1.3 million polices. The company has assets held to the tune of over Rs. 14,000 crore.
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 (Ind) rating is the highest rating, and is a clear assurance of ICICI Prudential ability to meet its obligations to customers at the time of maturity or claims.
For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the Indian customer at every step in life.
Distribution :
ICICI Prudential has one of the largest distribution networks amongst private life insurers in India. As of January 31, 2007 the company has over 540 offices across the country and over 2,00,000 advisors.
The company has over 20 bancassurnace partners, having tie-ups with ICICI Bank, Federal Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank, Shamrao Vithal Co-operative Bank, Ernakulam Bank and 9 Bank of India Sponsored Regional Rural Banks (RRBs). It has also tide up with NGOs MFIs and of Corporate for the distribution of rural policies.
Our vision :
To make ICICI Prudential the dominant Life and Pension player built on trust by world-class people and service.
This we hope to achieve by:
Understanding the needs of customer 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.
Our values :
Every member of the ICICI Prudential team is committed to 5 crore values: Integrity, Customer First, Boundaryless, Ownership, and Passion. These values shine forth in all we do, and have become the keystones of our success.
Products Profile :
Insurance Solutions for Individuals:
ICICI Prudential Life Insurance offers a range of innovative, customer –centric products that meet the needs of customers at every life stage. It products can be enhanced with up to 4 riders, to create a customized solution for each policyholder.
Savings and Wealth Creation Solutions:
Cash plus is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options.
Save ‘n’ protect is a traditional endowment savings plan that offers life protection along with adequate returns.
Cash Bank is an anticipated endowment policy ideal for meeting milestone expenses for a child’s higher education or purchase of an asset. It is available for terms of 15 and 20 years.
Life Time Super & Life Time Plus are unit – linked plans that offer customers the flexibility and customers the flexibility and control to customize the Policy to meet the changing needs at different life stages. Each offer 4 fund options preserver, protector, Balancer and Maximize.
Life Link Super is a single premium unit linked insurance plan which combines life insurance cover with the opportunity to stay invested in the stock market.
Premier Life Gold is a limited premium paying plan specially structured for long-term wealth creation.
InvestShield Life New is a unit linked plane that provides premium guarantee on the invested premiums and ensures that the customer receives only the benefits of fund appreciation without any of the risks of depreciation.
InvestShield Cashbank is a unit linked plan that provides premium guarantee on the invested premiums along with protection Solutions.
Life Guard is a protection plan, which offers life cover at low cost. It is available in 3 options – level term assurance, level term assurance with return of premium & single premium.
Home Assure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner.
Child Plans:
Education insurance under the smartkid brand provides guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child’s life Smartkid plans also available in unit-linked form – both single premium and regular premium.
Retirement Solutions:
ForeverLife is a traditional retirement product that offers guaranteed returns for the 4 years and then declares bonuses annually.
Life time super pension is a regular premium unit linked pension plan that helps one accumulate over the ling term and offers an annuity option (guaranteed income for life) at the time of retirement.
Life link super pension is a single premium unit linked pension plan.
Immediate Annuity is a single premium annuity product that guarantees income for life at the time of retirement. It offers the benefit of 5 payout options.
Health Solutions:
Health Assure and Health Assure Plus: Health Assure is a regular premium plan which provides long term cover against 6 critical illnesses by providing policy holder with financial assistance, irrespective of the actual medical expenses. Health Assure Plus offers the added advantage of an equivalent life insurance cover.
Cancer care: is a regular premium plan that pays cash benefit on the diagnosis as well as at different stages in the treatment of various cancer conditions.
Diabetes care: Diabetes Care is the first ever critical illness product specially for individuals with Type 2 diabetes. It makes payments on diagnosis on any of 6 diabetes related critical illnesses, and also offers a coordinated care approach to managing the condition. Diabetes care Plus also offers life cover.
Group Insurance Solutions:
ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.
Group Gratuity Plan:
ICICI prudential group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory schemes that can provide benefits beyond the statutory obligations.
Group Superannuation Plan:
ICICI prudential offers both defined contribution (DC) and defined benefit (DB) superannuation schemes to optimize returns for the members of the trust and rationalize cost. Members have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement.
Group Immediate Annuities:
In addition to the annuities offered to exiting superannuation customers, we offer immediate annuities to superannuation funds not managed by us.
Group Term Plan:
ICICI prudential flexible group term solutions helps provide affordable cover to members of a group. The cover could be uniform of based on designation / rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death.
Flexible Rider options:
ICICI prudential Life offers flexible riders, which can be added to the basic policy at a marginal cost, depending on the specific needs of the customer.
Accident & disability benefit : If death occurs as the result of
Critical Illness benefit: Protects the insured against financial.
Income Benefit: This rider pays the 10% of the sum assured Cash Plus.
Waiver of Premium: In case of total and permanent disability due to an accident, the future premiums continue to be paid by the company till the time of maturity. This rider is available with life Time super, Life Time Super Pension and Cash Plus.
About the promoters:
ICICI Bank (NYSE:IBN) is India’s second largest bank and largest private sector bank with assets of Rs. 2958.32 billion as on December 31, 2006. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base through a multi-channel access network which includes over 695 branches and extension counters, 3051 ATMs, call centers and Internet banking.
Established in London in 1848, Prudential plc, thorough its businesses in the UK and Europe, the US and Asia, Provides retail financial services products and services to more than 21 million customers, policyholder and unit holders worldwide. Today, Prudential has millions of customers worldwide and over 238 billion(as of 30 June 2006) of funds under management. In Asia, Prudential is the leading European life insurance company with a vast network of life and fund management operations in thirteen countries-China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam and United Arab Emirates.
MANAGEMENT PROFILE:
Board of Director:
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. Barry Stowe
Mr. Chanda Kochhar
Mr.H.T Phong
Mr.M.P Modi
Mr.R.Narayanan
Mr.Keki Dadiseth
Mr.Shikha Sharama, Managing Director
Mr.N.S. Kannan, Executive Director
Mr.Bhargav Dasgupta, Executive Director
Management Team:
The ICICI Prudential life Insurance Company Limited Board comprises reputed people from the finance industry both from India and abroad.
Ms. Shaikha sharma, managing Director & CEO
Mr. N. S. Kannan, Executive Director
Mr. Bhargav Dasgupta, Executive Director
Ms. Anita Pai, EVP-Customer Service & Technology
Mr. Azim Mithani, Chief Actuary
Mr. Puneet Nanda, Chief Investment Officer
Mr. Binayak Dutta, Chief-Sales and distribution.
Nice post so many informative things you are post thanks for share it and please keep it up by regular posting.
ReplyDeleteChild Life Insurance
ICICI Pru life is the best top most insurance companies because it guide me the best when i took the life insurance policy. I also recommend to people that if they any query about insurance, then they must opt the ICICI Prulife. Thanks for giving details on other products of ICICI Prulife.
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