ICICI Prudential - Customer-Centric Approach; Annuity Key Growth Driver: Nirmal Bang

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.ICICI Prudential Life Insurance Company Ltd. has seen strong momentum over the past few months (~40% year-to-date -Aug-24) driven by buoyant equity markets, new product launches (annuity/ ULIP) and strong traction in banca and proprietary channels. Some key pointers from our channel checks around Mumbai:Branch employees do not focus on a specific product, but advise customers based on their needs. The company segregates customers into different categories (S1 to S7) depending on age and income and suggest products accordingly. Guaranteed Pension Plan Flexi provides customers the option to receive 100% money back of premiums paid. The product has seen strong traction over the past few months as target customers (mostly 50-55 year-olds) do not want to take risks and prefer products with fixed returns. GPP Flexi and Signature Pension are popular products in the segment.Employees/ agents check NPS data on a year-to-year basis and if the customer can invest in an NPS, they are suggested annuity products. Most branches get leads via referrals to on-board new customers.  NPAR/guaranteed products have a more favourable commission structure as they are long-tenure products. However, over the past few months, ULIP products (such as ICICI Pru Signature) have seen high demand across because of strong market performance. In lower ticket segments (not affected by the tax change), most products sold are in PAR/NPAR category..Click on the attachment to read the full report:.Piramal Pharma - Setting Precedence For Profitable Growth: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Prudential - Customer-Centric Approach; Annuity Key Growth Driver: Nirmal Bang

The brokerage value the company using the Appraisal Value framework (FY25E EV + FY26E Structural Value) with a target price of Rs 850 and reiterates Buy.

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ICICI Prudential - Customer-Centric Approach; Annuity Key Growth Driver: Nirmal Bang

The brokerage value the company using the Appraisal Value framework (FY25E EV + FY26E Structural Value) with a target price of Rs 850 and reiterates Buy.

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