Hehehe! Jacksparrows and angels should tread carefully in the Harlem street of "high finance". Now we in Delhi know that people like ICICI are important to run the business of Govt: like we know how important is to keep street level goons to run the show for the people. These people ICICI etc do all these at our bidding, ( of course "protection money" is charged, why else do you think?) We help them with giving very low interest loans which is disbursed to farmers students and the occasional spendthrift at exorbitant rates. We also allow them to charge all hidden costs so they can get bonuses. The paperwork for all loans are similar, why do you thing we allow them to .75% of the loan amount. Do you think we allow a doctor to charge Rs 1000 for diagnosing Cancer and 100 for common cold? But then we decide what is logic in this Alice in Wonderland of high finance. Poor indians they do not understand all these! They work like the salesroom of hell, attract you with wine and woman and sleaze, Once you conform entry, you will be faced by low level goons threatening from phone booths. i believe they are sending these to train abroad like in Afghanistan for latest torture techniques. They believe in experts being trained at the best centres in the world. for all high level deception from Goldman sachs and for the rest from Bihar and afghanistan
Some tips for ICICI prudential sucess, 1.If a person is in meeting ,the excutive from ICICI pru calls and asks sir shall i proceed with the ICICIpru product and you are in the meeting .if the person says yes for meeting the fund will deduct from Credit card for ICICI prud product, 2.While entering the initial data by intention these ICIC guys enter error or wrong data ,once clients asks for correction they will promise it will be done in 48hrs but the client knows its value at the Hospital bill counter after 20years ,all the documents get rejected and sees his medical/life insurance card in tears, 3.While inducting members for Insurance policy it is by phone and while reimbursement medical scientist from WHO to local research scientist will come to deny the payment on a list of medical and insurance clauses , 3.Atlast the goons comes in search of Creditcard holders for payment collection to ICICi prudential ...and it continues AS new B-schools technical thieves without mask,will research for any loopholes in laws ,cheat consumers ...so that the graph displayed in the Laptop will always have a exponential growth graph..
Re: Sucess of ICICI prudential-King of thieves
by dancewiththesun on Jul 01, 2010 09:51 AM
Right on!!! Aggressive marketing taken to new level these days..sometimes even ready to bully gullible customers.A Card protection plan was recently pushed to my wife.When she asked for the money back which was deducted from her account, the representative spoke rudely with her and was very aggressive and pushy.I had to intervene and then they apologized.The new funda it seems is to deduct money on way or other,at least 2 out of 100 will not take efforts to ask for refund.
ICICI Prudential Life does not have good management. The company has almost five times the share capital as compared to SBI Life and lesser sales. Further the company broke even much later as compared to SBI Life . Even the expenses ratio is nowhere as low as SBI Life. No doubt the management is now under pressure to reduce costs and amazingly rediff wants to sell this as success story.I'll appreciate if rediff does some Industry analysis before making case studies of such bad managements. The real success story in Indian Life Insurance sector is SBI Life.
Re: Not a Good Mangement
by rajeshwer on Jul 01, 2010 09:49 AM
whether u know the realty of sbi life. if go to person whose amt deducted from his saving a/c to say that we trf.u r amt in f/d for 3 yrs.every co. is lier in this field[inculding L.I.C]
Re: Not a Good Mangement
by bewakoof on Jul 05, 2010 07:14 AM
Because you will never find SBI Life marketing guys running after you to sell a policy. Genuine customers go there and buy policy and they then pay the premiums regularly.
While in ICICI, the targets are only annual. So the CEO's job is to make sure that they show best numbers in the next quarter - by hook or by crook. A person who is trying to buy an Annuity will be sold a Life Insurance Policy. A person who needs Term Life will be sold a Whole Life. It is all about higher revenue and more profits for the next quarter. But they don't know that long term revenues will come in Insurance industry only after there is 'Trust'.
Insurance is different from Bank. I think ICICI top mgmt never understood this.
I WOULD APPRECIATE IF REDIFF TAKES UTMOST CARE WHILE PUBLISHING PHOTO RELEVANT TO THE ARTICLE. WHILE THE ARTICLE IS ABOUT ICICI PRUDENTIAL LIFE INSURANCE CO, THE FIRST PHOTO SHOWS ICICI PRUDENTIAL ASSET MANANGEMENT CO LOGO(ITS MUTUAL FUND DIVISION). IT SHOULD HAVE BEEN ICICI PRUDENTIAL LIFE INSURANCE CO WITH ITS LOGO- RAMALINGAM
