STUDY OF MARKETING MIX OF ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED (Synopsis of the Project towards partial fulfilment of the assessment in the subject of Service Marketing)
ICICI Prudential Life Insurance Company Limited is a company incorporated under the Companies Act, 1956 and licensed under and in terms of the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, 1999 to carry out the business of life insurance and having its Registered Office at ICICI Prulife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi Mumbai - 400025. It is a joint venture between ICICI Bank, one of the foremost financial services companies of India and Prudential plc, one of the leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector life insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential Life's capital stands at Rs. 4,780 crores (as of September 30, 2010) with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For the period April 1, 2010 to September 30, 2010, the company garnered Rs 7,267 crores of total premiums and has underwritten over 10 million policies since inception. The company has a network of over 1,500 offices and over 1,60,000 advisors, as on September 30, 2010. The company has assets held over Rs. 65,000 crores as on September 30, 2010. Since the liberalization of Indian Insurance sector, ICICI Prudential Life Insurance has been one of the earliest private players. Since the time, ICICI Pru Life has been the leader in terms of market share as indicated by the IRDA (Insurance Regulatory and Development Authority, the regulator for Indian Insurance Industry) at its website. In June, 2009 ICICI Prudential Life Insurance has decided to snap its tie up with TTK Healthcare to settle insurance claims of...
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