ICICI Prudential Life Insurance Company
India has emerged as one of the fastest-growing fintech markets in the world with a market size estimated at US$ 150 billion by 2025.
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
- As of Q2 of FY24, net profit stood at US$ 2.44 billion.
ICICI Prudential Life Insurance Company: We cover you at every step in life
| Year | Milestone |
|---|---|
| 2023 |
ICICI Prudential Life Insurance, a private sector insurer, is set to incorporate a not-for-profit company for housing the Bima Sugam platform - ‘Rashtriya Bima Sugam Nigam’. In July 2023, ICICI Prudential Life Insurance has launched ‘ICICI Pru Protect N Gain’, a unique product which offers a comprehensive life insurance cover, protection against accidental death and permanent disability due to an accident and market-linked returns to build long-term wealth and achieve financial goals. ICICI Prudential Life Insurance launched a debt fund which will enable customers to lock in their investments at current high-interest rates, build long-term wealth and achieve financial goals. |
| 2022 |
ICICI Prudential Life Insurance company had crossed ₹2.5 trillion (US$30.75 billion) mark in AUM |
| 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. |
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