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SIP Report: Icici Prudential

This document summarizes a market research report on consumer perceptions of ICICI Prudential and the insurance sector in India. The objectives of the research were to study perceptions of ICICI Prudential and insurance, understand reasons for purchasing life insurance, identify common types of insurance policies, and explore attitudes toward disclosure to insurance companies. The research methodology involved questionnaires and company/internet sources, with a sample of 150 residents aged 21-60 in Mandi, India. Key findings indicated that middle-income consumers spend more on insurance, both long- and short-term plans are popular, and ICICI Prudential has a strong brand and image. Suggestions for ICICI Prudential included improved advisor training, more advertising,

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abhishek panwar
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269 views6 pages

SIP Report: Icici Prudential

This document summarizes a market research report on consumer perceptions of ICICI Prudential and the insurance sector in India. The objectives of the research were to study perceptions of ICICI Prudential and insurance, understand reasons for purchasing life insurance, identify common types of insurance policies, and explore attitudes toward disclosure to insurance companies. The research methodology involved questionnaires and company/internet sources, with a sample of 150 residents aged 21-60 in Mandi, India. Key findings indicated that middle-income consumers spend more on insurance, both long- and short-term plans are popular, and ICICI Prudential has a strong brand and image. Suggestions for ICICI Prudential included improved advisor training, more advertising,

Uploaded by

abhishek panwar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SIP Report

ICICI PRUDENTIAL

Project Title :- Market Research on consumer perception towards ICICI Prudential


and a study of the role of ICICI in Insurance sector.

OBJECTIVES
To study perception of people towards ICICI Prudential and

insurance sector
To know about the reasons for investment in life insurance.
To know about the types of insurance policy taken by consumer.
To understand consumers attitudes to life insurance companies.
To explore consumer attitudes to disclosure of information to
insurance companies.
To gain an understanding of why consumers hold particular
attitudes.

RESEARCH METHODOLOGY
TYPES OF DATA
PRIMARY DATA: QUESTIONNAIRE
SECONDARY DATA: COMPANY BRAUCHERS AND INTERNET
SAMPLE STRUCTURE:
LOCATION MANDI (H.P)
SIZE
150
AGE
21-60
SAMPLING TECHNIQUE

CONVIENIENT SAMPLING

FINDINGS
People who are earning between 1-5 lakh spends more on

insurance.
People like to invest in both long term and short term plans.
Study shoed that most people investment preference is banks and
insurance.
Most of people around 72% have life insurance.
Most of people prefer life insurance rather than other.
Most of people worries about premium and benefits of plans.
ICICI Prudential is very Famous brand among consumers.
Brand name and image are the most important factor for ICICI
Prudential

SUGGESTIONS
It should organize weakly meeting with Insurance advisors for the business

and give appraisal training to them. It works as a performance appraisal of the


them.
Generally we buy only that thing whatever we see. It means that it should
spend more on advertisement. Other insurance industry like LIC and HDFC
advertise mostly through banner on metro station, on road and advertise in the
cinema hall. Add more and more movie hall for the advertisement.
It should focus more on people who comes in middle class category for the
post of insurance advisors.
The role of recruitment is not easy so it should increase commission or give
salary instead of commission so that advisors will take more interest in sales
of plans.

The end

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