A Study on Brand Image of ICICI Prudential Life Insurance Ltd

In today’s market there are many insurance companies that do not meet expectations in terms of sales. At the moment, each insurance company will focus on more sales, but no one will focus on customer satisfaction. There are few companies that lead the market with their brand image. ICICI is one of the leading private insurance companies with a brand image of ICICI. The customer develops a series of brand beliefs about where each brand stands for any features or factors. A set of beliefs about a brand makes out the brand image. The customer brand image differs with further experience, filtered by the effects of selective perception, selective deformation and selective retention. [From different ICICI products, such as banks, loans, mutual funds, general and life insurance, web trade, consumers can form ICICI’s brand image based on the services offered by the above-mentioned departments. This project relates to measuring the brand image of ICICI prudential life insurance in terms of customer satisfaction. The methodology approved to achieve the above task is as follows.

The respondents are divided as current customers, lost customers and non-clients of the ICICI prudential life insurance company. The study includes the level of customer satisfaction level. It also focuses on the estimate of returning lost customers. ICICI Prudential’s non-customer research was aimed at measuring their tendency towards ICICI.

The main objective of this study is study to estimate the benchmark image of ICICI prudential life insurance. The estimate of the brand image includes existing customers, non-users of ICICI health insurance. The survey of current ICICI health insurance customers is being conducted to assess the levels of satisfaction with the ICICI health insurance service. Also analyze the shortcomings in ICICI health insurance coverage because the satisfactory levels of customers using ICICI prudential life insurance will reflect whether they continue to use or not. The investigation of people who have never used the ICICI Prudential life insurance service helps us to disclose the reasons for not using it. Hence, measuring a fire image of ICICI prudential life insurance is basically measured from two different points, retaining existing customers, attracting Lost customers by assuring quality services and attracting new customers this service and expanding its market.