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Tag: IndiaFirst

  • On Insurance Awareness Day, a call to action to keep financial stress at bay

    Mumbai: The world has been through some of the most unprecedented times over the last one year. Most of us have encountered life-altering disruptions in our day-to-day lives and many have had to suffer loss of jobs, income and even loved ones. In such unpredictable times if there’s anything that can guarantee some form of assured security, then policy insurance will definitely be one of them.

    And what better day than the Insurance Awareness Day (28 June) to remind us about the critical role of insurance in protecting oneself and our families from the uncertainties of life. The pandemic has only heightened the need for long-term financial planning.

    On this day, some of India’s leading life insurers endeavour to create greater awareness about policy insurance amongst consumers with a slew of campaigns and creatives that prompt one to take the time out to reflect on our priorities and get a policy on our life, home and/ or vehicle to secure one’s and one’s family from the tough times the may future hold.

    IndiaFirst Life Insurance

    Insurance brand IndiaFirst released a short video that talks about how it is a good practice to ask questions- the more questions one asks, the more knowledge one gains. Recited by writer, poet, and, storyteller Ishpreet Balbir, the video encourages consumer to clear their doubts regarding the insurance policy and get all their questions answered before buying the insurance.  

    ‘Life insurance ke baare mein questions puchte rehna aur bhi achi baat hai. Aapke sawalo ka humse answer milna, yeh toh certain hai.’ , it says.

    HDFC ERGO

    General Insurance is a safety net we all need in our lives to enjoy the big and small moments by being at peace & worry-free! This is the message HDFC ERGO aims to send out on this  #InsuranceAwarenessDay, via this short video.

    SBI Life Insurance

    It is imperative that we do not delay our decision to secure our loved ones from an ‘unsure’ future, exhorts SBI Life’s creative. With Life Insurance by your side, give your loved ones the surety of a secured financial future.  – ‘Insure’ to undo ‘unsure’ future.

    HDFC Life

    On the occasion of Insurance Awareness Day, HDFC Life organized a digital chat show called ‘Life Sessions’ as part of their efforts towards increasing awareness by discussing the importance of financial planning for the future and working on a holistic well-being in the new normal.  

    The session, moderated by award-winning actor Tisca Chopra, featured Group medical director of the Apollo Hospitals Group Dr. Anupam Sibal, actor, model & author Lisa Ray and HDFC Life executive director Suresh Badami. The latter spoke about how imperative it is to not delay our decision to secure our loved ones, while creating awareness about the dual benefits of protection and long-term savings offered by life insurance.   

    The speakers also shared their own experiences from the pandemic, to emphasise the need for physical, financial and social security from life’s vagaries and to encourage users to take a personal resolution to secure their future.

    Bajaj Allianz General

    Being ‘Insurance aware’ starts with you, urges the brand. Insurance provides you protection in the long run, hence plan your tomorrow by starting your preparation today it advises through this short creative.

    ICICI Lombard GIC

    The insurance brand promises to provide services that entail complete protection from uncertainties anytime and anywhere with this creative to mark National Insurance Awareness Day 2021.

    So, be secured, be insured!

  • Insurance a push product in India, says IndiaFirst Life’s Rushabh Gandhi

    Insurance a push product in India, says IndiaFirst Life’s Rushabh Gandhi

    MUMBAI: Life insurance ads with depressing thoughts about the future and forcing you to invest to avoid gloomy situations like an accident, health failure, etc aren’t the most alluring to consumers. Indeed, just a fraction of the country ends up taking the plan and quite a few of them stop paying the premium in the first three years itself.

    But this outlook is exactly what the country’s youngest life insurance player wants to change in its latest advertisement. IndiaFirst Life Insurance launched a one-of-its-kind advertising campaign last week titled – Because Life is Full of Certainties. Launched in 2010 by the then President of India, Pranab Mukherjee, IndiaFirst Life Insurance is present in over 1000 cities across India. It is a joint venture between Bank of Baroda with 44 per cent stake, Andhra Bank with 30 per cent stake and UK’s leading risk, wealth and investment brand Legal & General group with 26 per cent stake in it.

    Created and conceptualised by Ogilvy & Mather, the campaign seeks to appeal to customers’ own reasoning by advocating prudence in planning for events or life goals that have a greater likelihood of happening such as getting married, having children, fulfilling responsibilities towards them and retiring. This is a step away from the generally promoted outlook to insurance that hinges on a person’s fear of the unknown. IndiaFirst Life Insurance director of sales and marketing Rushabh Gandhi mentions that the company wanted to differentiate itself from the existing norms of advertising and didn’t want too much of emotional jargon or overdose.

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    Although Gandhi did not disclose the allocated budget for the said campaign, he revealed that this is the biggest brand campaign IndiaFirst has undertaken in the last three to four years. The campaign will run till the end of this financial year (31 March 2018) and if things go as planned, it will be pushed to the next financial year as well.

    The company will shell out 55 per cent of the total advertising budget on the out of home medium followed by regional print (15 per cent), radio (15 per cent), social and digital (15 per cent). With most of the business coming from Bank of Baroda and Andhra Bank, the firm will be setting up hoardings around the banks’ regional and zonal offices.

    The insurance player wants to steer away from television for the campaign and will not be investing at all on the medium. Gandhi says, “We thought: why to spend big bucks on TV when you can get the same result in terms of eyeballs with lower spends.” The company is also not looking at investing in in-cinema advertising where insurance and financial products form a bulk of the promotions.

    The insurance industry of India consists of 57 insurance companies of which 24 are in the life insurance business and 33 are non-life insurers. The number of lives covered under health insurance policies during 2015-16 was 36 crore which is approximately 30 per cent of India’s total population. While Gandhi does admit that insurance in India is not where it should have been, he is optimistic about its growth in the years to come. It requires a mind change, positive publicity and awareness for it to bloom. He says that insurance is currently a push product and not a pull one in India. “Insurance in India is growing at a fast pace although it had its blips sometime back. There is good headroom for players but we need to address the issue jointly as an industry,” he adds. The company reported a net profit of Rs 35 crore in 2016-17 and is aiming for a net profit of over Rs 50 crore in the current financial year.

    The future looks promising for the life insurance industry with several changes in the regulatory framework which will lead to further changes in the way the industry conducts its business and engages with its customers. With a growing middle class, young insurable population and increasing awareness of the need for protection and retirement planning, the industry is set to see some good times ahead and as Gandhi believes, “Life is not a series of accidents to happen as most of the things in life are certain, so might as well get a cover for them.”

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