logging in or signing up icici prudential life insurance launches iprotect - an online term ins myfavedocs Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 210 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: September 20, 2010 This Presentation is Public Favorites: 1 Presentation Description ICICI Prudential Life announces the launch of iProtect, an online term insurance plan. iProtect is extremely affordable and convenient where upto a certain limit, life cover can be bought immediately without the need for any medical tests. Comments Posting comment... Premium member Presentation Transcript ICICI Prudential Life welcomes you : ICICI Prudential Life welcomes you August 16, 2010 Slide 2: 2 The evolving internet opportunity in India Gaining critical mass Relative penetration Conducive regulatory environment Increasing preference for online financial transactions Slide 3: 3 The evolving internet opportunity in India Gaining Critical mass Relative penetration Conducive regulatory environment Increasing preference for financial transactions online Slide 4: 4 The evolving internet opportunity in India Gaining critical mass Overall population: 1.15 billion Total computer literate : 87.1 mn Total internet users in India: 71 mn E-Commerce growth: 43 % YOY Source: IAMAI Reports Slide 5: 5 Huge potential for internet growth in India US: 75.9%; UK: 76%; China: 22.5% India: 4.54% The evolving internet opportunity in India Relative penetration People with access to the internet per 100 inhabitants Source: World Bank, World Development Indicators Slide 6: 6 The evolving online opportunity in India Conducive regulatory environment e-statements across product categories online banking transactions Banking online share trading immensely popular mandate to operate only in paperless environment online tax filing Financial Services online premium payment is now acceptable Insurance BFSI sector transitioning to online platforms Slide 7: 7 The evolving online opportunity in India Online banking: the only way a whole generation is experiencing banking Banking Share trading & other investments, completely taking the online route Financial Services Online servicing of insurance policies has already gained preference Insurance Increasing preference for financial transactions online Slide 8: 8 Merging convenience with transparency & cost saving.. Slide 9: 9 Convenience How do we help our customers manage their policies online? Our view of the internet Transparency How do we use the internet to make our customer interactions more transparent? Cost saving How do we leverage the internet to optimize our costs & pass the same to our customers? Leverage the internet to create online products Slide 10: 10 Servicing (Existing customers) Our view of the internet Convenience Transparency Cost saving Sourcing (Prospects) Online premium payment Manage policy Track investments Reduce cost for customers’ direct interaction User who Research Online & Purchase Offline (ROPO) Display all product details, T&C & charges upfront before buying Pass benefits of reduced cost of operations to customers Slide 11: 11 Servicing (Existing customers) Our view of the internet Sourcing (Prospects) 750,000 unique customer logins 53% servicing transactions done online FY 10: Rs.7210 mn renewal premium received online Online campaigns 25,000+ monthly responses Over 5,000 direct leads Highest conversion rates Compared to other direct sources Slide 12: 12 What does the internet mean to the users? Connotations of the internet …… : 13 Instant gratification Minimum hassles Easy to buy products Transparency Competitive pricing Online servicing Connotations of the internet …… Slide 14: 14 The need for pure protection plans Need for pure protection plans.. : 15 Need for pure protection plans.. Current view towards protection plans Universal requirement Somehow always underplayed Low consumer preference Returns oriented tendency Need for pure protection plans.. : 16 Need for pure protection plans.. Why now? Increase in lifestyle based diseases India – cardiac capital of the world* Increasing debt ratio Higher propensity to assume liabilities Increasing consumer awareness Source: RBI data for Indian economyY-o-Y increase in Assets & Liabilities 60 % of the world's cardiac patients will be Indian by 2010 - WHO Slide 17: 17 Our role in the area of protection plans Our role in the area of protection products : 18 Protection products have always been an area of focus Life guard (2005) Pure Protect (2008) - lowest cost term plan* Pitched for home loan customers of bank partners Commonly called MRTI Key component in life stage based product planning Our role in the area of protection products * In 2008 Pure Protect was the lowest cost term plan Slide 19: 19 Hence the consumer proposition is.. Slide 20: 20 Slide 21: 21 Online only term insurance plan Extremely affordable Instant cover for non medical cases Paperless application process First ever pure online term insurance plan Slide 22: 22 Pure online i-Protect Extremely affordable Paperless process No documents required Payment also to be done online 30% cheaper than our earlier term product Operational cost saves passed onto the customer Slide 23: 23 Instant cover i-Protect For non-medical cases cover commences on premium payment Thank you : Thank you You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
icici prudential life insurance launches iprotect - an online term ins myfavedocs Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 210 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: September 20, 2010 This Presentation is Public Favorites: 1 Presentation Description ICICI Prudential Life announces the launch of iProtect, an online term insurance plan. iProtect is extremely affordable and convenient where upto a certain limit, life cover can be bought immediately without the need for any medical tests. Comments Posting comment... Premium member Presentation Transcript ICICI Prudential Life welcomes you : ICICI Prudential Life welcomes you August 16, 2010 Slide 2: 2 The evolving internet opportunity in India Gaining critical mass Relative penetration Conducive regulatory environment Increasing preference for online financial transactions Slide 3: 3 The evolving internet opportunity in India Gaining Critical mass Relative penetration Conducive regulatory environment Increasing preference for financial transactions online Slide 4: 4 The evolving internet opportunity in India Gaining critical mass Overall population: 1.15 billion Total computer literate : 87.1 mn Total internet users in India: 71 mn E-Commerce growth: 43 % YOY Source: IAMAI Reports Slide 5: 5 Huge potential for internet growth in India US: 75.9%; UK: 76%; China: 22.5% India: 4.54% The evolving internet opportunity in India Relative penetration People with access to the internet per 100 inhabitants Source: World Bank, World Development Indicators Slide 6: 6 The evolving online opportunity in India Conducive regulatory environment e-statements across product categories online banking transactions Banking online share trading immensely popular mandate to operate only in paperless environment online tax filing Financial Services online premium payment is now acceptable Insurance BFSI sector transitioning to online platforms Slide 7: 7 The evolving online opportunity in India Online banking: the only way a whole generation is experiencing banking Banking Share trading & other investments, completely taking the online route Financial Services Online servicing of insurance policies has already gained preference Insurance Increasing preference for financial transactions online Slide 8: 8 Merging convenience with transparency & cost saving.. Slide 9: 9 Convenience How do we help our customers manage their policies online? Our view of the internet Transparency How do we use the internet to make our customer interactions more transparent? Cost saving How do we leverage the internet to optimize our costs & pass the same to our customers? Leverage the internet to create online products Slide 10: 10 Servicing (Existing customers) Our view of the internet Convenience Transparency Cost saving Sourcing (Prospects) Online premium payment Manage policy Track investments Reduce cost for customers’ direct interaction User who Research Online & Purchase Offline (ROPO) Display all product details, T&C & charges upfront before buying Pass benefits of reduced cost of operations to customers Slide 11: 11 Servicing (Existing customers) Our view of the internet Sourcing (Prospects) 750,000 unique customer logins 53% servicing transactions done online FY 10: Rs.7210 mn renewal premium received online Online campaigns 25,000+ monthly responses Over 5,000 direct leads Highest conversion rates Compared to other direct sources Slide 12: 12 What does the internet mean to the users? Connotations of the internet …… : 13 Instant gratification Minimum hassles Easy to buy products Transparency Competitive pricing Online servicing Connotations of the internet …… Slide 14: 14 The need for pure protection plans Need for pure protection plans.. : 15 Need for pure protection plans.. Current view towards protection plans Universal requirement Somehow always underplayed Low consumer preference Returns oriented tendency Need for pure protection plans.. : 16 Need for pure protection plans.. Why now? Increase in lifestyle based diseases India – cardiac capital of the world* Increasing debt ratio Higher propensity to assume liabilities Increasing consumer awareness Source: RBI data for Indian economyY-o-Y increase in Assets & Liabilities 60 % of the world's cardiac patients will be Indian by 2010 - WHO Slide 17: 17 Our role in the area of protection plans Our role in the area of protection products : 18 Protection products have always been an area of focus Life guard (2005) Pure Protect (2008) - lowest cost term plan* Pitched for home loan customers of bank partners Commonly called MRTI Key component in life stage based product planning Our role in the area of protection products * In 2008 Pure Protect was the lowest cost term plan Slide 19: 19 Hence the consumer proposition is.. Slide 20: 20 Slide 21: 21 Online only term insurance plan Extremely affordable Instant cover for non medical cases Paperless application process First ever pure online term insurance plan Slide 22: 22 Pure online i-Protect Extremely affordable Paperless process No documents required Payment also to be done online 30% cheaper than our earlier term product Operational cost saves passed onto the customer Slide 23: 23 Instant cover i-Protect For non-medical cases cover commences on premium payment Thank you : Thank you