ICICI Prudential Life Insurance Company
Financial services share in India's market capitalisation increased to 24% in FY21 from ~6% in FY01.
ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company provides life insurance, pensions and health insurance to individuals and groups. It conducts business in participating, non-participating and unit linked lines of businesses. Its segments include par life, par pension, non-par, annuity non par, health, linked life, linked pension, linked health and linked group. It offers term plans such as ICICI Pru iProtect Smart; unit linked insurance plans (ULIPs) such as ICICI Pru Wealth Builder II and ICICI Pru Elite Life II; child education insurance plans such as ICICI Prudential SmartKid with Smart Life; retirement plans such as ICICI Pru Easy Retirement; traditional savings/money back plans such as ICICI Pru Cash Advantage and ICICI Pru Savings Suraksha; and Health insurance. It offers products on retail, mortgage and group platforms.
- 26 million customers
- Total income of Rs. 840.58 billion (US$ 11.31 billion) was recorded in FY21
- As of March 31, 2021, AUM stood at Rs. 2.14 trillion (US$ 28.81 billion)
ICICI Prudential Life Insurance Company: We cover you at every step in life
| Year | Milestone |
|---|---|
| 2021 |
In September 2021, ICICI Prudential Life Insurance Company announced that it is in discussion for onboarding the ‘Account Aggregator’ system, a financial data sharing platform to be regulated by the Reserve Bank. |
| 2020 |
In December 2020, ICICI Prudential Life Insurance and RBL Bank entered a bancassurance partnership to offer an array of life insurance products to customers. In September 2020, ICICI Prudential Life Insurance entered a corporate agency agreement with NSDL Payments Bank to provide customer-centric protection and savings products to customers of NSDL Payments Bank. Launched ESG Fund, an open-ended equity scheme Launched LiGo, a chatbox service on Google Assistant for its policyholder |
| 2019 |
Announced tie-up with Standard Chartered Bank |
| 2017 |
First insurance company in India to list on NSE and BSE. |
| 2015 |
The company ranked as one of the best brands in BFSI sector as per “BrandZ top 50 most valuable Indian brands 2015”, a study conducted by Millward Brown and published by WPP. |
| 2013 |
The company received the Silver Effiee award in the financial services category for the brand campaign “Achche Bandeh”. |
| 2011 |
The company was awarded “The Best Leading Private Player Life Insurance” at the CNBC TV18 Best Bank and Financial Institutions Award. |
| 2008 |
Crossed the mark of five million policies |
| 2002 |
Crossed the mark of 100,000 policies. |
| 2000 |
The company was incorporated at Mumbai on July 20, 2000 as ICICI Prudential Life Insurance Company Limited, a public limited company under the Companies Act, 1956. |
Partners
