Abstract

This caselet discusses ICICI Prudential’s entry into the private insurance segment and its distribution network. The company started with a base of 62 advisors and then slowly expanded its distribution channels through bancassurance, direct marketing, and other measures. ICICI Prudential also ventured into the rural segment through various state-level and non-government organizations. Finally the caselet discusses the distribution strategies of other insurance players.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Need for alternative distribution channels in insurance
• Bancassurance as an effective medium for selling insurance
• and Methods of distribution in rural areas.

Keywords

ICICI Prudential, Federal Bank, Lord Krishna Bank, Insurance, Bancassurance, Advisors, Direct Marketing, Dabbawalas, Multiple Channels