8/8/2019 ICICI iProtect Online Term Insurance Plan
1/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
2/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
3/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
4/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
5/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
6/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
7/24
7
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
8/24
8
Merging convenience wit h transparency & cost saving..
8/8/2019 ICICI iProtect Online Term Insurance Plan
9/24
9
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
10/24
10
Servicing(Existing
customers)
O ur view of t h e internet
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
11/24
11
Servicing(Existing
customers)
O ur view of t h e internet
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
12/24
1 2
Wh at does t h e internet mean to t h e users?
8/8/2019 ICICI iProtect Online Term Insurance Plan
13/24
1 3
Instantgratification
Minimumh assles
Easy to buyproducts
T ransparency
Competitivepricing
O nlineservicing
Connotations of t h e internet
8/8/2019 ICICI iProtect Online Term Insurance Plan
14/24
1 4
Th e need for pure protection plans
8/8/2019 ICICI iProtect Online Term Insurance Plan
15/24
8/8/2019 ICICI iProtect Online Term Insurance Plan
16/24
1 6
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
17/24
17
O ur role in t h e area of protection plans
8/8/2019 ICICI iProtect Online Term Insurance Plan
18/24
18
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
19/24
19
Hence t h e consumer proposition is..
8/8/2019 ICICI iProtect Online Term Insurance Plan
20/24
20
8/8/2019 ICICI iProtect Online Term Insurance Plan
21/24
21
O nline only term insurance plan
Extremely affordable
Instant cover for non medical cases
Paperless application process
First ever pure online term insurance plan
8/8/2019 ICICI iProtect Online Term Insurance Plan
22/24
22
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
8/8/2019 ICICI iProtect Online Term Insurance Plan
23/24
23
Instant cover
i-Protect
For non-medical cases cover commences on premium payment
8/8/2019 ICICI iProtect Online Term Insurance Plan
24/24
Th ank you