ICICI iProtect Online Term Insurance Plan

8/8/2019 ICICI iProtect Online Term Insurance Plan

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Th e evolving online opportunity in India

O nline banking: t h eonly way a w h olegeneration is

experiencingbanking

Banking

S h are trading &ot h er investments,completely takingth e online route

Financial Services

O nline servicing of insurance policiesh as already gainedpreference

Insurance

Increasing preferencefor financial

transactions online


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Merging convenience wit h transparency & cost saving..


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Convenience

How do we h elp our customers

manageth eir policies online?

O ur view of t h e internet

T ransparency

How do we use t h einternet to make our

customer interactionsmore transparent?

Cost saving

How do we leverageth e internet to

optimize our costs &

pass t h e same to our customers?

Leverage t h e internet to create online products


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Servicing(Existing

customers)


Convenience T ransparency Cost saving

Sourcing(Prospects)

O nline premiumpayment

Manage policyT rack investments

Reduce cost for customers directinteraction

U ser w h oResearc h O nline &Purc h ase O ffline(R O P O )

Display all productdetails, T &C &c h arges upfrontbefore buying

Pass benefits of reduced cost of operations tocustomers


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Servicing(Existing

customers)


Sourcing(Prospects)

750,000 unique customer logins53% servicing transactions doneonlineFY 10: Rs.7210 mn renewal premium

received online

O nline campaigns25,000+ mont h ly responsesO ver 5,000 direct leads

Hig h est conversion ratesCompared to ot h er direct sources


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Wh at does t h e internet mean to t h e users?


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Instantgratification

Minimumh assles

Easy to buyproducts

T ransparency

Competitivepricing

O nlineservicing

Connotations of t h e internet


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Th e need for pure protection plans


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N eed for pure protection plans..

Wh y now?

Increase in lifestyle based diseasesIndia cardiac capital of t h eworld*

Increasing debt ratioHig h er propensity to assumeliabilities

Increasing consumer awareness

Assets iabilities Y o Y

.

.

.

.

.

.

-

1

,

2

,

3

,

4

,

5

,

600 ,000

700 ,000

FY'0 2 FY'0 3 FY'0 4 FY'0 5 FY'06 FY'07

0.0

1 .0

2 .0

3 .0

4 .0

5 .0

6.0

7.0

Financial Ass ts (A) Financial Liabili t ie s (L) R a t io o f A/L

Source: RBI data for Indian economy Y o Y increase in Assets & iabilities

0 % o f th e wo r ld 'sca rd iac pa tien ts w ill be

Indian by 2010WHO


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O ur role in t h e area of protection plans


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Protection products h ave always been an area of focus

Life guard (2005)

Pure Protect (2008) - lowest cost term plan*

Pitc h ed for h ome loan customers of bankpartners

Commonly called MR T I

K ey component in life stage based productplanning

O ur role in t h e area of protection products

* In 2008 Pure Protect was t h e lowest cost termplan


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Hence t h e consumer proposition is..


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O nline only term insurance plan

Extremely affordable

Instant cover for non medical cases

Paperless application process

First ever pure online term insurance plan


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Pure online

i-Protect

Extremelyaffordable

Paperless processN o documents requiredPayment also to be done online

30% c h eaper t h an our earlier termproduct

O perational cost saves passed onto t h ecustomer


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Instant cover

i-Protect

For non-medical cases cover commences on premium payment


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Th ank you

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ICICI iProtect Online Term Insurance Plan

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