Icici Prudential Life Insurance Co. LTD Navsari Branch

ICICI PRUDENTIAL LIFE INSURANCE CO.
LTD NAVSARI BRANCH
A PROJECT REPORT ON SATISFACTION OF INSURANCE ADVISOR OF ICICI PRUDENTIAL LIFE INSURANCE OF NAVSARI BRANCH UNDERTAKEN AT ICICI PRUDENTIAL LIFE INSURANCE CO. LTD., NAVSARI BRANCH
Submitted By: Gandhi Jemish P. (06-MBA-12) Submitted To: Mr. Anil Saraogi SHRIMAD RAJCHANDRA INSTITUTE OF MANAGEMENT AND COMPUTER APPLICATIONS MBA PROGRAMME (2006 - 08)
Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH
DECLARATION I the undersigned hereby declare that the Summer Project report titled Satisfaction Level of Insuranc e Advisor of ICICI Prudential Life Insura nce Co. Ltd. Navsari Branch. Based on original piece of work done by me towards the partial fulfillm ent for the degree of Master of Business Administration. In addition, whatever information has been taken from any sources had been duly acknowledged. I further declare that the personal data & information received from all respondent during the survey has not been submitted to any other university or institute or any one for any other purpose and it is used for academic purpose only.
--------------------------Date: Gandhi Jemish P. [06 MBA 12]
Acknowledgement
This title note is for all the people who rendered their valuable support to make this project a successful one. As a gesture of heartfelt thanks, I would like to express a few words. I began with Dr. Bankim Patel the Director of SRIMCA to introduce such a kind of practical program and for providing his valuable support and quality education. I express my deep sense of gratitude to Mr. Anil Saraogi (Lecturer of SRIMCA), who provided with his valuable comments and suggestions for making the project report. His timely help and genuine interests in my work and consideration kept me going through the rough patches, I encountered during my work. I further thanked to Mr. Shetal Desai the Sales Manager in Channel Development, who recruit me and opened the door of the company for me to conducting a Research Project work. I am highly obliged to Mr. Sachin Chavda, the Sales Manager as well as Branch In charge of ICICI Prudential Life Insurance Co. Ltd., Navsari Branch., who gave me the permission for doing the summer project in Navsari Branch. I am also thankful to Mr. Vishal Vadiwala the Unit Manager as well as my company mentor, who helped me in serving all the information of the company as well as helped me what to do and not to do in my topic itself and for serving precious time for my project work. Last but not least, my specially thanks to MY PARENTS, without whose support and blessings, I would not have been successful in completing my project work.
Jemish Gandhi
EXECUTIVE SUMMARY
1. Purpose of the Study:
This Project Report contains the topic on Satisfaction of Insurance Advisor of ICICI Prudential Life Insurance Co. Ltd., Navsari Branch. This report is taken for the purpose of To know the current Satisfaction level of the Insurance Advisor, And to know at where they are weak in providing services to them and also for giving better services in the future.
2. Objectives:
The primary objective is to know the Satisfaction level of the Insurance Advisor of ICICI PRUDENTIAL Life Insurance Co. Ltd, for Navsari Branch only. The Secondary Objectives are, Satisfaction of Advisor with respect to Gender. In accordance with the Services and Facilities provided by the company to the Advisor.
3. Research Methodology:
The research design is taken by me in this project is Descriptive research design with non-probability convenience sampling and the targeted the respondent is 102 Insurance Advisors. I interview the respondent with the help of wellstructured Questionnaires.
4. Limitations:
The major limitations were faced by me during this project are as follows. My respondents are the Insurance Advisor, who worked as the part time work, so some of the respondents are Studying in other region so I am not able to communicate with those Advisors.
This report is limited to the Navsari Branch only so it cannot generalize about the perception of all the Insurance Advisors. Most difficulty were faced by me is that my Company Mentor is handling the work of the Navsari as well as the Surat Branch. Therefore, he is not able to spend more time to me. In addition, for most limitation is Availability of time for research was restricted to make more detail study.
5. Findings:
According to objectives of my research about Gender, there is 76 advisors are male out of 102, but with the help of Crosstabs of Commission v/s Gender, I found that highest male i.e. 21 are Greatly Satisfied & 11 females are Partly satisfied with the commission provided by the company. According to another objective that is extra facilities, 57.8% are agreed that the company provides more extra facilities. Therefore, I can say that the company wants to motivate their advisors by providing more facilities & flexibility to them. 26.5 % are greatly satisfied and the same percentages of advisors are partly satisfied with commission & incentives. In addition, 79.4% are said that the company is fulfilled their commitment for providing commission on time. More than 50% have obtained good support from their unit managers & from the company. Therefore, I inferred that the company wants to create healthier relationship with their advisors so that they can obtain good business from them. 34.3 advisors are neutral and 24.5 advisors strongly disagree out of 102 advisors due to target, which is forced by the company. By this data, I can interpret that the Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH advisors do not like target and they do not want to work under pressure and they wants to work independently.
6. Recommendations:
From my analysis and findings, I would recommend that the company or Unit Managers dont like any kind of target so, they have to slowly and gradually reduce the pressures on the advisors. As a result, advisors can work independently and make a more business from the market.
7. Conclusion:
The main crux of my research work and the data analysis reported that the company is more concerning to the advisors provides best benefits to them and advisors be also satisfied with the ICICI Prudential Life Insurance Co. Ltd.
TABLE OF CONTENTS
Sr. No. 1.0
TOPIC INTRODUCTION 1.1 Commercial vehicles industry profile 1.2 Company Profile 1.3 Literature Review
Page No.
2.0
RESEARCH METHODOLOGY 2.1 Problem Statement 2.2 Research Objectives 2.3 Research Methodology 2.4 Research Design 2.5 Data Collection method 2.6 Sampling Design 2.7 Limitation of Research 2.8 Statistical Tests to be used 2.9 How to conduct Statistical test
3.0 4.0 5.0
DATA ANALYSIS & INTERPRETATION FINDINGS RECOMMANDATIONS Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH BIBLIOGRAPHY APPENDIX
Scenario of Life Insurance Industry in Indian Perspective

Business Gained by Public Life Insurance Co.:
The public life insurance company i.e. Life Insurance Corporation of India (LIC India). According to data compiled by Insurance Regulatory and Development Authority(IRDA), LIC continued with its recent high growth rate of over 40 per cent to up Rs 18,834 crore in first year premium by selling 2.09 crore policies in AprilFebruary of last fiscal. Though, country's largest life insurer LIC was expanding business handsomely, its market share fell slightly to 71.65 per cent from 72.2 per cent a month back as most of the private players are going at a faster rate.
Contribution of Top Players of Private Life Insurance Co.

In the private space, competition has further intensified after entry of Chennai-based Sriram Life, which collected Rs 18.76 lakh premium in its first month of operation. The 14 private players increased their market share to 28.35 per cent from 27.8 per cent a month ago by collecting Rs 7,451 crore in premium until February. ICICI Prudential regained its number one position among private insurers by logging 69 per cent growth to collect Rs 1,956 crore in premium and a market share of 7.44 per cent. Bajaj Allianz Life Insurance was close behind ICICI Prudential, by clocking 292 per cent growth in business at Rs 1,940 crore and a market share of 7.38 per cent. HDFC Standard collected Rs 778 crore in premium income, followed by SBI Life (Rs 512 crore), Birla Sunlife Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH (Rs 478 crore), Tata AIG (Rs 405 crore), Max New York Life (363 crore), Aviva (Rs 309 crore).
Kotak Mahindra Old Mutual collected Rs 234 crore, ING Vysya Rs 200 crore, Reliance Life Rs 150 crore, Met Life Rs 107 crore and Sahara Life Rs 15 crore.
Life Insurance Council:

The Life Insurance Council is funded by the Life Insurers in India. The Committee will set up standards of conduct and practices for efficient customer service, advise IRDA on controlling insurers expenses and serve as a forum that helps maintain healthy market conduct. It will create and manage a process for agent examination and certification The Life Insurance Council seeks to play a significant and complementary role in transforming Indias life insurance industry into a vibrant, trustworthy and profitable service, helping the people of India on their journey to prosperity. The Data released by the Life Insurance Council of India is as Follows. Indian Life Insurance Industry: Large mobilization of savings next only to banks Significant participant in the Capital Markets Constitutes 15% of Gross Domestic Savings Assets under management - more than Rs. 4,00,000 Crores Invested in Infrastructure - Rs. 40,000 Crores 1.5 million Agency forces. Growth: Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH o Penetration grew from 1.2% to 2.2% of GDP o Insurance Density grew from Rs. 280 to Rs. 600 (per capita premium)
The Company
India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank-one of India's foremost financial services companies-and prudential plc- a leading international financial services group headquartered in the United Kingdom. Total capital infusion stands at Rs. 23.72 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%. They began their operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). Today, their nation-wide team comprises of over 680 offices, over 235,000 advisors and 23 bancassurance partners. 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's ability to meet its obligations to customers at the time of maturity or claims. For three years in a row, ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As they grow their distribution, product range and customer base, they continue to tirelessly uphold their commitment to deliver world-class financial solutions to customers all over India. 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 needs of the Indian customer at every step in life.
Distribution
ICICI Prudential has one of the largest distribution networks amongst private life insurers in India. It has a strong presence across India with over 680 branches and over 235,000 advisors. The company has over 23 bancassurance partners, having tieups with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank, Jalgaon Peoples Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Co-operative Bank, Shamrao Vithal Co-op Bank, Ernakulam Bank, 9 Bank of India sponsored Regional Rural Banks (RRBs), Sangli Urban Cooperative Bank, Baramati Co-operative Bank, Ballia Kshetriya Gramin Bank, The Haryana State Co-operative Bank and Imphal Urban Cooperative Bank Limited.
About the Promoters

ICICI Bank is India's second largest bank and largest private sector bank with over 50 years presence in financial services and with assets of over Rs 3,569.32 bn (USD 88 billion) as on June 30, 2007. The Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, private equity and asset management. ICICI Bank is a leading player in the retail banking market and services its large customer base through a network of over 950 branches (including extension counters), 3469 ATMs, call centers and internet banking (www.icicibank.com) to ensure that customers have access to its services at all times. Prudential plc, Established in London in 1848, through its businesses in the UK and Europe, the US and Asia, provides retail financial services products and services to more than 20 million customers, policyholder and unit holders and manages over 256 billion of funds worldwide (as of 30 June 2007). In Asia, Prudential is the leading European life insurance company with life operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Prudential is the second largest retail fund manager for Asian sourced assets exJapan as at June 2006. Its fund management business has expanded into ten markets: China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates.
Products (Category wise)

1.
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. Its products can be enhanced with up to 4 riders, to create a customized solution for each policyholder. 2.
Savings & Wealth Creation Solutions:
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Save'n'Protect is a traditional endowment savings plan that offers life protection along with adequate returns.
CashBak is an anticipated endowment policy ideal for meeting milestone expenses like a child's marriage, expenses for a child's higher education or purchase of an asset. It is available for terms of 15 and 20 years. LifeTime Super & LifeTime Plus are unit-linked plans that offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 6 fund options - Preserver, Protector, Balancer, Maximiser, Flexi Growth and Flexi Balanced. LifeLink 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 plan 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 Cashbak is a unit-linked plan that provides premium guarantee on the invested premiums along with flexible liquidity options. 3.
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. HomeAssure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner. Gandhi Jemish P. 06 MBA 12
4.
Education insurance 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 are also available in unit-linked form - both single premium and regular premium. 5.
Retirement Solutions:
ForeverLife is a traditional retirement product that offers guaranteed returns for the first 4 years and then declares bonuses annually. LifeTime Super Pensions a regular premium unit linked pension plan that helps one accumulate over the long term and offers 5 annuity options (life annuity, life annuity with return of purchase price, joint life last survivor annuity with return of purchase price, life annuity guaranteed for 5, 10 and 15 years & for life thereafter, joint life, last survivor annuity without return of purchase price) at the time of retirement. LifeLink 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. 6.
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 policyholder with financial Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH 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 a unique critical illness product specially developed for individuals with Type 2 diabetes and pre-diabetes. It makes payments on diagnosis on any of 6 diabetes related critical illnesses, and offers a coordinated care approach to managing the condition. Diabetes Care Plus also offers life cover. Hospital Care: is a fixed benefit plan covering various stages of treatment hospitalization, ICU, procedures & recuperating allowance. It covers a range of medical conditions (900 surgeries) and has a long-term guaranteed coverage upto 20 years. Crisis Cover: is a 360-degree product that will provide long-term coverage against 35 critical illnesses, total and permanent disability, and death.
Fle x ible R ide r O pt ion s

ICICI Pru 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:death occurs as the result of If an accident during the term of the policy, the beneficiary receives an additional amount equal to the rider sum assured under the policy. If an accident results in total and permanent disability, 10% of rider sum assured will be paid each year, from the end of the 1st year after the disability date for the remainder of the base policy term or 10 years, whichever is lesser. If the death occurs while traveling in an authorized mass transport vehicle, the beneficiary will be entitled to twice the sum assured as additional benefit. Critical Illness Benefit: protects the insured against financial loss in the event of 9 specified critical illnesses. Benefits are payable to the insured for medical expenses prior to death. Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH W aiver of Prem iumIn 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 SmartKid, LifeTime Plus, LifeTime Super and LifeTime Super Pension. Incom e Benefit: case of death of the life assured during the In term of the policy, 10% of the sum assured is paid annually to the nominee on each policy anniversary until the maturity of the rider.
Awards & Recognitions:

India's Most Customer Responsive Insurance Company Avaya Global Connect - Economic Times Customer Responsiveness Awards Most Trusted Private Life Insurer
The Economic Times - A C Nielsen Survey of Most Trusted Brands 2003, 2004 and 2005
Prudence Customer Centricity Award 2004 & 2005 Prudential Corporation Asia Best Life Insurer 2003
Outlook Money Awards 2003 & 2004
IMM Award for Excellence

Institute of Marketing & Management
Organization with Innovative HR Practices

Indira Group of Institutes
Super Brand 2003-04 Organization with Innovative HR Practices Asia-Pacific H R Congress Awards for HR Excellence Silver Effie for Effectiveness of the Retire from Work not life advertising campaign Effies 2003
1. Problem Definition:
To know the current Satisfaction level of the Insurance Advisor, And wants to know at where they are weak in providing services to them and for giving better services in the future.
2. Research Objectives:
The primary objective is to know the Satisfaction level of the Insurance Advisor of ICICI PRUDENTIAL Life Insurance Co. Ltd, for Navsari Branch only. The Secondary Objectives are, Satisfaction of Advisor with respect to Gender. In accordance with the Services and Facilities provided by the company to the Advisor.
3. Research Design:
Here the descriptive research design has been used because here I want to study the Satisfaction of current Agents in relation with the criteria mentioned as above in Objectives.
4. Sampling:
Sampling Design: Here non-probability convenience sampling has been used. Sample Size: The sample size is 102 respondents. Sampling Unit: The sampling unit comprises the Agents who are visited to the Navsari Branch Offices. Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Choice of Survey Method: Here for my research, I have selected the Personal Interview method.
Research Instrument: Questionnaire was used for the purpose of the data collection as the research instrument. This Questionnaire consisted of closed ended questions including rating scales.
5. Data Analysis:
Instrument: For analyzing the data, SPSS 15 Software is used. Test for Analyzing Data: o o o o Frequential Distribution, t Test, Cross Tabulation, Chi Square Test.
1. Are You? Male Female
Gender Cumulative Percent 74.5 100.0
Male Female Total
Frequency 76 26 102
Percent 74.5 25.5 100.0
Gender Male Female
From the above Table and diagram, I can infer that the out of Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH 102 Advisors, 76 advisors i.e. 74.5% are targeted Male advisors and 26 advisors i.e. 25.5% are targeted Female advisors.
Crosstabs of Gender v/s Commission

Null Hypothesis (HO): There is no significant Association between the Gender & Incentives/Commission schemes of the company. Alternative Hypothesis (H1): There is significant Association between the Gender & Incentives/Commission schemes of the company. Statistical Test: Chi-Square Cross tabulations statistics method is used because for finding association.
0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000 8d0eab08201c2d00040000002d010000030000000000 0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000 8d0eab08201c2d00040000002d010000030000000000 0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000 8d0eab08201c2d00040000002d010000030000000000
Interpretation:
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Explanation of Pearsons Chi-square: The Chi-square test is carried out at 95% confidence level (0.05 significance level). The Pearson Chi-square value comes out as 0.230, which is more than the significance level of 0.05; it means there is no existence a significant association between Commission and Gender.
Crosstabs of Gender v/s Target

Null Hypothesis (HO): There is no significant Association between the Gender & Target that is provided by the company. Alternative Hypothesis (H1): There is significant Association between the Gender & Target that is provided by the company.
0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000 8d0eab08201c2d00040000002d010000030000000000
Chi-Square Tests Value 8.029 df 4 Asymp. Sig. (2-sided) .091
Pearson Chi-Square

Satisfaction on
0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000
Interpretation:
Explanation of Pearsons Chi-square: The Chi-square test is carried out at 95% confidence level (0.05 significance level). The Pearson Chi-square value comes out as 0.091 that is more than the significance level of 0.05; it means there is no existence a significant association between Gender and Target that is provided by the company. Explanation of Contingency Co-efficient: The contingency co-efficient measures the strength of the output. If the value is close to 0, there is no strong correlation between two variables, if the value ranges between 0.5 and 1, there is exist of a strong correlation. Here, we can conclude that there exist a no stronger correlation between Commission and Gender because the value of contingency co-efficient is 0.270
2 . S i n c e w h a t t i m e d u r a t i o n h a v e y o u w o r k e d a s an I n s u r a n c e Advisor (From License Date)?

Time Duration Cumulative Percent 21.6 64.7 81.4 91.2 97.1 100.0
Last 6 Months 6 - 12 Months 12 - 18 Months 18 - 24 Months 24 - 36 Months More Than 36 Months Total
Frequency 22 44 17 10 6 3 102
Percent 21.6 43.1 16.7 9.8 5.9 2.9 100.0
Tim Duration e
50
40
Frequency
30
20
10
Last 6 M onths
6 - 12 M onths
12 - 18 M onths
18 - 24 M onths
24 - 36 M onths
M Than ore 36 M onths
Tim Duration e
From the above Table and diagram, I can infer that the out of 102 Advisors, 44 advisors i.e. 43.1% are license holders between 6 to 12 months, which involved male and female both.
3. Have You Satisfied the o f f e r e d b y th e c o m p an y ?
Incentives/Commission,
which
is
Incentives/Commission Cumulative Percent 16.7 40.2 66.7 93.1 100.0
Not at all Marginally Partly Greatly Fully Total
Frequency 17 24 27 27 7 102
Percent 16.7 23.5 26.5 26.5 6.9 100.0
Valid Percent 16.7 23.5 26.5 26.5 6.9 100.0
In e tiv s o m s n c n e /C m is io
3 0
Frequency
2 0
1 0
N ta a o t ll
M rg a a in lly
P rtly a
G a re tly
F lly u
In e tiv s o m s n c n e /C m is io
From the above Table and diagram I can inferred that the out of 102 Advisors 27 advisors i.e. 26.5% are greatly satisfied and the same percentages of advisors are partly satisfied with commission & Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH incentives provided by the company. Therefore, I can say that the company is providing better commissions to their advisors.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are partly satisfied with the incentives offered by the company. I.e. Ho: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 3 Statistical Test: One sample t-test is chosen because the
measurement of data is interval in nature. Significance level: 0.05

0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000 8d0eab08201c2d00040000002d010000030000000000 0100090000037800000002001c00000000000400000003010800050000000b 0200000000050000000c02ab08960e040000002e0118001c000000fb021000 070000000000bc02000000000102022253797374656d0008960e000098c911 0072edc630785f1b000c020000960e0000040000002d010000040000000201 01001c000000fb029cff0000000000009001000000000440001254696d65732 04e657720526f6d616e0000000000000000000000000000000000040000002 d010100050000000902000000020d000000320a5a00ffff0100040000000000 8d0eab08201c2d00040000002d010000030000000000
Interpretation:
At 95% confidence level, the significance value is 0.162 and our assume mean is 3.00 and calculated sample mean is 2.83 which is near by assume mean therefore we accept the null hypothesis. So our Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH alternate hypothesis is rejected. In other words, I can say that the advisors are neither satisfied nor the dissatisfied with the incentives and commission offered by the company.
4 . W h a t d o y o u th i n k a b o u t C o m m i s s i o n C y c l e p r o v i d e d b y t h e company?
Commission cycle Cumulative Percent 20.6 100.0
Too Late On Time as per Commitment Total
Frequency 21 81 102
Percent 20.6 79.4 100.0
Valid Percent 20.6 79.4 100.0
Commission cycle
Too Late On Time as per Committment
81
21
From the above Table and diagram, I can infer that the out of 102 Advisors, 81 advisors i.e. 79.4% are said that the company is fulfilled their commitment for providing commission on time i.e. weekly-based commission cycle. While other 21 advisors i.e. 20.6% are Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH not satisfied with the experience of the commission cycle i.e. they have to wait for more then 7 days for getting money or may be they are not aware about 15 days of free look period.
5 . W h a t i s y o u r o p i n i o n a b ou t s u p p o r t g i v e n b y th e U n i t M a n a g e r s o r th e C o m p a n y s O t h e r S t a f f m e m b e r ?
Support From UM & Co. Cumulative Percent 1.0 4.9 33.3 84.3 100.0 -
Very Bad Bad Neutral Good Excellent Total
Frequency 1 4 29 52 16 102
Percent 1.0 3.9 28.4 51.0 15.7 100.0
0100090000037800000002001c00000000000400000003010800050000000b0200000000050000000c02ab08960e040000002e0118001c0 00000fb021000070000000000bc02000000000102022253797374656d0008960e000098c9110072edc630785f1b000c020000960e0000040 000002d01000004000000020101001c000000fb029cff0000000000009001000000000440001254696d6573204e657720526f6d616e000000 0000000000000000000000000000040000002d010100050000000902000000020d000000320a5a00ffff01000400000000008d0eab08201c2 d00040000002d010000030000000000
From the above Table and diagram, I can conclude that the out
of 102 Advisors, 52 advisors i.e. more than 50% have obtained good support from their unit managers & the companys other staff members.
Therefore, I inferred that the company had created healthier relationship with their advisors so that they can obtain good business from them.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are Either Agree or Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Disagree with the support given from Unit managers and the companys other Staff members. I.e. Ho: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 3 Statistical Test: One sample t-test is chosen because the
measurement of data is interval in nature. Significance level: 0.05 (1 0.95)
One-Sample Statistics Std. Error Mean .079
Support From UM & Co.
N 102
Mean 3.76
One-Sample Test
df
Test Value = 3 Mean Sig. (2-tailed) Difference
95% Confidence Interval of the Difference Lower Upper .92
Support From UM & Co.
9.675
101
.000
.765
.61
Inference: Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH At 95% confidence level, the significance value is 0.000 and therefore we reject the null hypothesis. So our alternate hypothesis is accepted. In other words, t is shows positive side and is also shows to near to 4.00, so I can say that the advisors are Agree with the support is given from Unit managers and the companys other Staff members.
6. A
Extra facilities like in companys Mailing A/C Facility, Visiting Card facility, telephoning services, etc.
Extra Facilities Cumulative Percent 2.9 5.9 24.5 82.4 100.0
Strongly Disagree Disagree Neutral Agree Strongly Agree
Frequency 3 3 19 59 18
Percent 2.9 2.9 18.6 57.8 17.6

Total 102 100.0 -
0100090000037800000002001c00000000000400000003010800050000000b02 00000000050000000c02ab08960e040000002e0118001c000000fb02100007000 0000000bc02000000000102022253797374656d0008960e000098c9110072edc6 30785f1b000c020000960e0000040000002d01000004000000020101001c00000 0fb029cff0000000000009001000000000440001254696d6573204e657720526f6 d616e0000000000000000000000000000000000040000002d010100050000000 902000000020d000000320a5a00ffff01000400000000008d0eab08201c2d00040 000002d010000030000000000 Inference: From the above Table and diagram, I inferred that the 59 advisors out of 102, i.e. 57.8% are agreed that the company provides more extra facilities viz a viz, in companys Mailing Address facility, Visiting Card facility, telephoning services, I Card, etc.
Therefore, I can say that the company wants to motivate their advisors by providing more facilities & flexibility to them.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are at Neutral with the Extra Facilities, which is offered by the company. I.e. Ho: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 3 Statistical Test: One sample t-test is chosen because the
measurement of data is interval in nature. Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Significance level: 0.05 (1 - 0.95)
Extra Facilities
N 102
Mean 3.84
Std. Deviation .853
One-Sample Test Test Value = 3 t Extra Facilities df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference Lower .68 Upper 1.01
9.983
101
.000
.843
Inference: At 95% confidence level, the significance value is 0.000 and therefore we reject the null hypothesis. So our alternate hypothesis is accepted. In other words, I can say that the advisors are agreeing that the company is more offering the extra facilities. So that all the advisors can easily communicate to their client as well as with the company itself. Gandhi Jemish P. 06 MBA 12
6. B Does co. offers more Transparency?

Transparency
Scale Strongly Disagree Disagree Neutral Agree Strongly Agree Total
Frequency 5 7 37 44 9 102
Percent 4.9 6.9 36.3 43.1 8.8 100.0

T n p ra c ra s e n y
5 0
4 0
Frequency
3 0
2 0
4 4 3 7
1 0
S n ly tro g D a re is g e
D a re is g e
Nu l e tra
T n p ra c ra s e n y
A re g e
S n ly tro g A re g e
From the above Table and diagram, I inferred that the 44 advisors out of 102 are agreed that the company provides more transparency to their advisors as well as their customers. Customers in the sense Allocation & other charges, which are the most important aspect in the insurance plan.
t Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are Partly Agree & Partly Disagree as the part of Companys is providing more Transparency. I.e. Ho: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. Gandhi Jemish P. 06 MBA 12
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH i.e. H1: x 3 Statistical Test: One sample t-test is chosen because the
measurement of data is interval in nature. Significance level: 0.05 (1 - 0.95)

One-Sample Statistics
N Transparency 102
Mean 3.44
Std. Error Mean .092
One-Sample Test Test Value = 3 Mean Sig. (2-tailed) Difference
T Transparency
df
95% Confidence Interval of the Difference Lower .26 Upper .62
4.797
101
.000
.441
Interpretation:
At 95% confidence level, the significance value is 0.000 and therefore we reject the null hypothesis. So our alternate hypothesis is accepted. In other words, I can say that the advisors are Agree as the part of Companys is providing more Transparency to their Advisors.
6. C They are very quicker in solving your queries. Solve Queries

Frequency 1 6 29 52 14 102 Percent 1.0 5.9 28.4 51.0 13.7 100.0 Valid Percent 1.0 5.9 28.4 51.0 13.7 100.0 Cumulative Percent 1.0 6.9 35.3 86.3 100.0
Strongly Disagree Disagree Neutral Agree Strongly Agree Total

From the above Table and diagram, I inferred that out of 102 advisors, 52 advisors, i.e. 51% are agreed that the company as well as the Unit Managers is egger to solve their any queries And Any related issues.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are Neutral for the Staff member as well as Unit Managers are quicker in solving their Problems I.e. Ho: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 3 Statistical Test: One sample t-test is taken because the

N Solve Queries 102
Mean 3.71
One-Sample Test

Test Value = 3 Mean Sig. (2-tailed) Difference
t Solve Queries
df
95% Confidence Interval of the Difference Lower .55 Upper .87
8.741
101
.000
.706
Interpretation:
At 95% confidence level, the significance value is 0.000 and therefore we reject the null hypothesis. So our alternate hypothesis is accepted. In other words, I can say that the advisors are satisfied because the Staff members and Unit Managers are always ready to solve their any kind of Problems as soon as possible.
6. D They lay Programme.
more
emphasis
on
Training
Training Programme Cumulative Percent 5.9 19.6 67.6 92.2 100.0
Frequency 6 14 49 25 8 102
Percent 5.9 13.7 48.0 24.5 7.8 100.0
From the above Table and diagram, I give comments that 49
advisors out of 102 advisors have give opinion that the company laid more emphasis on training Programme. Moreover, we also saw that the 6 & 14 Advisors respectively strongly disagree & disagree. From this, I can say that those who are not satisfaction from the training programme have whether bad experience with the trainer or may be they have no time to attain the training programme. That is why they were dissatisfied.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are neutral for the training programme that provided by the company. i.e. H1: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 3 Statistical Test: One sample t-test is chosen because the

Training Programme
N 102
Mean 3.15
Std. Deviation .959
One-Sample Test Test Value = 3 Mean Sig. (2-tailed) Difference
t Training Programme
df
95% Confidence Interval of the Difference Lower -.04 Upper .34
1.550
101
.124
.147
Interpretation:
At 95% confidence level, the significance value is 0.124 and hypothesized mean is 3.00 and I got calculated sample mean as 3.15, which is near by the assumed mean, therefore we accept the null hypothesis. So our alternate hypothesis rejected.
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH 6. E S a t i s f a c t i o n d u e t o w i d e r a n g i n g o f P r o d u c t s .

Product Range Cumulative Percent 2.0 5.9 23.5 70.6 100.0
Frequency 2 4 18 48 30 102
Percent 2.0 3.9 17.6 47.1 29.4 100.0
0100090000037800000002001c00000000000400000003010800050000000b0200000000050000000c02ab08960e040000002e0118001c0 00000fb021000070000000000bc02000000000102022253797374656d0008960e000098c9110072edc630785f1b000c020000960e0000040 000002d01000004000000020101001c000000fb029cff0000000000009001000000000440001254696d6573204e657720526f6d616e000000 Scale of Product Range 0000000000000000000000000000040000002d010100050000000902000000020d000000320a5a00ffff01000400000000008d0eab08201c2 d00040000002d010000030000000000
Here the above Table and diagram saws that, 30 advisors out of 102 advisors have strongly agreed that the company have a wide range of products. Here I can also conclude that the advisors who are agreed or strongly agreed may be when they approached their clients they can satisfied all the requirements of their customers, by the different categorized of the product.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that the Advisors are Agree because the Staff member as well as Unit Managers are quicker in solving their Problems i.e. H1: x = = 4 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 4
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Statistical Test: One sample t-test is chosen because the measurement of data is interval in nature. Significance level: 0.05
N Product Range 102
Mean 3.98
One-Sample Test
Test Value = 4 Scale for Target (2Sig. Mean df tailed) Difference
Strongly Agree
Lower
95% Confidence Interval of the Difference Upper .16
Product Range
-.220
101
.826
-.020
-.20
Interpretation:
At 95% confidence level, the significance value is 0.826 and therefore we accepted the null hypothesis. So our alternate hypothesis is accepted. In other words, I can say that the advisors are agreeing because the Staff member as well as Unit Manager is quicker in solving their Problems.
6. F On the basis of Target they provide.

Target Cumulative Percent 24.5 39.2 73.5 94.1 100.0
Frequency 25 15 35 21 6 102
Percent 24.5 14.7 34.3 20.6 5.9 100.0
Valid Percent 24.5 14.7 34.3 20.6 5.9 100.0
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Here the above Table and diagram saws that, 35 advisors are neutral and 25 advisors strongly disagree out of 102 advisors due to target, which is forced by the company. By this data, I can interpret that the advisors dont like target and they do not want to work under pressure and they wants to work independently.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (3.00). In other words, we hypothesize that, the Advisors either are agree or disagree because of target, which they provide. i.e. H1: x = = 3 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 3 Statistical Test: One sample t-test is chosen because the

N Target 102
Mean 2.69

One-Sample Test Test Value = 3 95% Confidence Interval of the Difference Lower Upper -.55 -.07
Target
t -2.600
df 101
Sig. (2-tailed) .011
Mean Difference -.314
Interpretation:
At 95% confidence level, the significance value is 0.011 and therefore we rejected the null hypothesis. So our alternate hypothesis is accepted. In other words, I can say that the advisors are not satisfied based on target they provide. of Scale
Contests
6. G On the basis of Gifts, Vouchers, Contests etc, which they offered on periodic basis.
Contests/Gifts/Vouchers Cumulative Percent 3.9 9.8 56.9 92.2 100.0
Frequency 4 6 48 36 8 102
Percent 3.9 5.9 47.1 35.3 7.8 100.0
Here the above Table and diagram saws that, 36 advisors out of 102 advisors, i.e. 35.3% have agreed that the company have offered more gifts, vouchers and a timely creates contests like Insurance Idol, etc. I also inferred from the diagram that the 84 of the respondents out of the 102 likes these kinds of schemes.
t - Test
Null Hypothesis (HO): There is no significant difference between the calculated sample mean and hypothesized population means (4.00). In other words, we hypothesize that the Advisors are Agree on the part of contests, gifts, and vouchers which are they offered periodically. i.e. H1: x = = 4 Alternative Hypothesis (H1): There is significant difference between calculated mean and hypothesized mean. i.e. H1: x 4 Statistical Test: One sample t-test is chosen because the

Contests/Gifts/Vouchers
N 102
Mean 3.37
One-Sample Test Test Value = 4 Mean Sig. (2-tailed) Difference Lower .000 Upper -.627
T Lower Contests/Gifts/Vouchers -7.313
df Upper 101
95% Confidence Interval of the Difference Lower -.80 Upper -.46
Interpretation:
At 95% confidence level, the significance value is 0.000 and therefore we rejected the null hypothesis. So our alternate hypothesis is accepted. In other words I can say that the advisors are agree on the part of contests, gifts, and vouchers which are they offered periodically. Gandhi Jemish P. 06 MBA 12
7 . A D o th e B r a n d n a m e a f f e c t s w h e n y o u a t t e n d a c l i e n t ?
Brand Impact to Attain Client Cumulative Percent 57.8 100.0
Yes No Total
Frequency 59 43 102
Percent 57.8 42.2 100.0
Brand Im pact To Attain Client

Yes No
42.16
57.84
From the above Table and Pie diagram, I comment that 43 out of 102 advisors gave their opinion that the Brand Name i.e. the ICICI Prudential Life Insu. are not affected while they attaining their calls.
7 . B I f y e s t h e n , h o w i t w a s a f f e c t e d w h e n y ou a t t e n d a c l i e n t ?
How Affects On Client Cumulative Percent 41.2 78.4 100.0
Not Applicable Positively Negatively Total
Frequency 43 38 21 102
Percent 41.2 37.3 21.6 100.0
When we saw the table of 7. A, in which the 59 respondents says
that the Brand name is affected while approached the clients. In addition, 43 out of 102 advisors gave their opinion that the Brand Name i.e. the ICICI Prudential Life Insu. is not affected while they attaining their calls.
In the table and pie chart of 7. B said that the out of 59, 38 advisors have come with the positive impact of the Brand & 21 Have Negative impact while attaining the clients. Moreover, In chart we also saw not applicable part i.e. all when they meet to their customers. 43
advisors, these are those advisors who have not affection of Brand at
Demographic Profile
A. Age:
Age
Frequency 18 - 25 26 - 33 34 - 41 42 - 49 Above 49 Total 37 34 17 4 10 102
Percent 36.3 33.3 16.7 3.9 9.8 100.0
Cumulative Percent 36.3 69.6 86.3 90.2 100.0
0100090000037800000002001c00000000000400000003010800050000000b0200000000050000000c02ab08960e040000002e0118001c0
According to the Frequential data of the Age of the advisors, the age group between the 18 25 years & 26 33 Years were more targeted by the Unit Managers. When we saw the cumulative frequency of the age of these two groups are 71 advisors out of the 102.
Crosstabs of Age & Commission

Pearson Chi-Square

12
10
Age
18 - 25
26 - 33 34 - 41
Count
42 - 49 0 Not at all Marginally Partly Greatly Fully Above 49
Incentives/Commission
Interpretation:
Explanation of Pearsons Chi-square: The Chi-square test is carrying out at 95% confidence level (0.05 significance level). The Pearson Chi-square value comes out as 0.831, which is more than the significance level of 0.05; it means there is no existence a significant association between Age Ratio and Commission provided by the company.
Occupation Criteria
B. Occupation:
Occupation Cumulative Percent 30.4 63.7 71.6 76.5 89.2 100.0
Student Salaried Post Agent C. A. House Wife Retired Total
Frequency 31 34 8 5 13 11 102
Percent 30.4 33.3 7.8 4.9 12.7 10.8 100.0
According to the Frequential data of the Occupation of the advisors, the Occupation who are the students are 30.4% advisors and 33.3% are the salaried persons were more targeted by the Unit Managers.
Crosstabs of Occupation v/s Commission

Pearson Chi-Square
12
10
Occupation
Student Salaried
Post Agent C. A.
Count
House Wife 0 Not at all Marginally Partly Greatly Fully Retired
Incentives/Commission
Interpretation:
Explanation of Pearsons Chi-square: The Chi-square test is carried out at 95% confidence level (0.05 significance level). The Pearson Chi-square value comes out as 0.840, which is more than the significance level of 0.05; it means there is no existence a significant association between Age Ratio and Commission provided by the company.
C. Education:
Education Cumulative Percent 22.5 37.3 85.3 100.0
12th Pass Diploma or Engineer Graduate Post Graduate Total
Frequency 23 15 49 15 102
Percent 22.5 14.7 48.0 14.7 100.0
Valid Percent 22.5 14.7 48.0 14.7 100.0
According to the Frequential data of the Education of the advisors, the Education Qualification more targeted to those person who are Graduates or pursuing their Graduation, which are 48% of advisors. I can also infer that the Unit Managers are targeted more to Commerce background Advisors. also, interpret that the respondents who have Commerce Background are more egger to become an independent to earned money.
FINDINGS
1. According to objectives of my research about Gender,
there is 76 advisors are male out of 102, but with the help of Crosstabs of Commission v/s Gender, I found that highest male i.e. 21 are Greatly Satisfied & 11 females are Partly satisfied with the commission provided by the company. Gandhi Jemish P. 06 MBA 12
2. According to another objective that is extra facilities,

57.8% are agreed that the company provides more extra facilities. Therefore, I can say that the company wants to motivate their advisors by providing more facilities & flexibility to them.
3. 26.5% are greatly satisfied and the same percentages of

advisors are partly satisfied with commission & incentives. In addition, 79.4% are said that the company is fulfilled their commitment for providing commission on time.
4. More than 50% have obtained good support from their unit
managers & from the company. Therefore, I inferred that the company wants to create healthier relationship with their advisors so that they can obtain good business from them.
5. 34.3 advisors are neutral and 24.5 advisors strongly

disagree out of 102 advisors due to target, which is forced by the company. By this data, I can interpret that the advisors do not like target and they do not want to work under pressure and they wants to work independently.
Recommendations:
From my analysis and findings, I would recommend that the company or Unit Managers dont like any kind of target so, they have to slowly and gradually reduce the pressures on the advisors. As a result, advisors can work independently and make a more business from the market. Gandhi Jemish P. 06 MBA 12
Conclusion:
The main crux of my research work and the data analysis reported that the company is more concerning to the advisors provides best benefits to them and advisors be also satisfied with the ICICI Prudential Life Insurance Co. Ltd.
BIBLIOGRAPHY
Websites:
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH 1. http://www.iciciprulife.com/public/About-us/About-Us.htm 2. http://www.iciciprupartner.com 3. http://in.news.yahoo.com/060415/211/63k0b.html
(Fri, Apr 28, 2006)
4. http://www.iloveindia.com/service/insu&banking.1892b92.html 5. http://www.indiainbusiness.com/insurance.html 6. http://www.indiacore.com/insurance.html
Search Websites:
1. www.google.co.in 2. www.in .news.yahoo.com
Reference Books:
1. Cooper D.R & Schindler P.S. (2006), Business Research Methods, Tata McGraw Hill, New Delhi. 2. Nargundkar Rajendra (2005), Marketing Research, Tata McGraw Hill, New Delhi.
Awards & Recognitions
India's Most Customer Responsive Insurance Company Avaya Global Connect - Economic Times Customer Responsiveness Awards Most Trusted Private Life Insurer
The Economic Times - A C Nielsen Survey of Most Trusted Brands 2003, 2004 and 2005
Prudence Customer Centricity Award 2004 & 2005 Prudential Corporation Asia
Best Life Insurer 2003

Outlook Money Awards 2003 & 2004
IMM Award for Excellence

Institute of Marketing & Management
Organization with Innovative HR Practices

Indira Group of Institutes
SuperBrand 2003-04
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH Organization with Innovative HR Practices Asia-Pacific H R Congress Awards for HR Excellence
Silver Effie for Effectiveness of the Retire from Work not life advertising campaign Effies 2003
ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH QUESTIONNAIRE M y s e l f , J e m i s h P . G a n d h i , t h e s t u d e n t o f F .Y . M B A o f S r i m a d R a j c h a n d r a I ns t i t u t e o f M a n a g e m e n t & C o m p u t e r A p p l i c a t i o n (SRIMCA), Tarsadi, conducting this summer research training on, Advisor Satisfaction for ICICI PRUDENTIAL LIFE INSU. CO. LTD. (Navsari Branch). As a part of my curriculum of MBA Programme. Can you spend five minutes to answer the following questions? This study is for academic purpose only. No information shall be disclosed anywhere.
7.
Are You? Male Female
8 . S i n c e w h a t t i m e d u r a t i o n h a v e y o u w o r k e d a s an I n s u r a n c e Advisor (From License Date)? Last 6 Month. 12 - 18 Months. 24 36 Months. 9. Have You Satisfied the o f f e r e d b y th e c o m p an y ? Not at all, Greatly, 6 - 12 Months. 18 - 24 Months. More than 36 Months. Incentives/Commission, Marginally, Fully. which is
Partly,
1 0 . W h a t d o y o u th i n k a b o u t C o m m i s s i o n C y c l e p r o v i d e d b y t h e company? Too late, On time as per commitment.
1 1 . W h a t i s y o u r o p i n i o n a b ou t s u p p o r t g i v e n b y th e U n i t M a n a g e r s o r th e C o m p a n y s O t h e r S t a f f m e m b e r ? Very Bad, Good, Bad, Excellent. Neutral,
6 . A n s w e r th e s t a t e m e n t r e l a t e d t o y o u r S a t i s f a c t i o n L e v e l a s I n s u r a n c e A d v i s o r o f t h e C o m p an y . Give the following rate: Strongly disagree Disagree Neutral Agree Strongly agree 1 2 3 4 5
B . E x t r a f a c i l i t i e s l i k e i n c o m p a n y s M a i l i n g A / C Facility, Visiting Card facility, Telephoning services, etc. 1 2 3 4 5 C. Does co. offer more Transparency? 3 4 5 D . T h e y a re v e r y q u i c k e r i n s o l v i n g y o u r quarries. 4 5 E. They lay more emphasis on Training Programme. F. Satisfaction due to wide ranging of Products. 4 5 G. O n t h e b a s i s o f T a r g e t t h e y p r o v i d e . 5 H. On the basis of Gifts, Vouchers, Contests Etc, which they offered on periodic basis. 5 1 2 1 2 3
1 2 3 4 5 1 2 3 1 2 3 4
7. Do the Brand name affects when you attend a client? Yes If Yes then, Positively Negatively No.
Demographic Profile
D. Name: . .
E . A d v i s o r C od e N o . : F. Age: 18 25 42 49 G. Occupation: Student, Post Agent, House wife H. Education: 12th Pass, Graduate,
26 33 Above 49 .
34 41
Salaried, C.A. Retired
Diploma, Post Graduate.
TABLE OF CONTENTS

Sr. No. 1.0 TOPIC INTRODUCTION 1.1 Declaration 1.2 Acknowledgement 3 1.3 Industry Profile 1.4 Company Profile 1.5 Executive Summary 2.0 RESEARCH METHODOLOGY 2 Page No.
2.1 Problem Definition

2.2 Research Objectives 2.3 Research Design 2.4 Sampling 2.5 Data Collection 2.6 Limitation of Research 2.7 Statistical Tests used 3.0 4.0 5.0 6.0 Data Analysis & Interpretation FINDINGS RECOMMANDATIONS & Conclusion Bibliography & Appendix

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ICICI PRUDENTIAL LIFE INSURANCE CO.

LTD NAVSARI BRANCH

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

--------------------------Date: Gandhi Jemish P. [06 MBA 12]

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Sr. No. 1.0

3.0 4.0 5.0

DATA ANALYSIS & INTERPRETATION FINDINGS RECOMMANDATIONS Gandhi Jemish P. 06 MBA 12

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Scenario of Life Insurance Industry in Indian Perspective

Contribution of Top Players of Private Life Insurance Co.

Life Insurance Council:

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

About the Promoters

Products (Category wise)

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Education insurance plans:

Fle x ible R ide r O pt ion s

Awards & Recognitions:

IMM Award for Excellence

Organization with Innovative HR Practices

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

1. Are You? Male Female

Gender Cumulative Percent 74.5 100.0

Male Female Total

Percent 74.5 25.5 100.0

Gender Male Female

Crosstabs of Gender v/s Commission

Crosstabs of Gender v/s Target

Chi-Square Tests Value 8.029 df 4 Asymp. Sig. (2-sided) .091

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

2 . S i n c e w h a t t i m e d u r a t i o n h a v e y o u w o r k e d a s an I n s u r a n c e Advisor (From License Date)?

Percent 21.6 43.1 16.7 9.8 5.9 2.9 100.0

M Than ore 36 M onths

Gandhi Jemish P. 06 MBA 12

ICICI PRUDENTIAL LIFE INSURANCE CO. LTD NAVSARI BRANCH

3. Have You Satisfied the o f f e r e d b y th e c o m p an y ?

Incentives/Commission Cumulative Percent 16.7 40.2 66.7 93.1 100.0