Death fascinated me. It is the absolute and only truth in life. Rest everything is probabilistic. As a social animal with traits of caring for the family, everyone is expected to plan for the future and insurance their well-being in their presence or absence. I wondered how Health Care and Insurance restrain themselves from touching on this subject and highlighting the possibilities. Insurance brands in the past sporadically tried leveraging death and associated trauma possibilities as a creative device and fear as the emotion. Somewhere, they missed the opportunity of leveraging humour – playfulness to amplify the message. One of the communications I love is the old Max Life insurance advertisement. And then there us POLICY BAZAAR that playfully leverages death.
Health Insurance has low penetration. People depend upon the health insurance benefit provided by their employers. Mostly unaware that in case of emergency, it is most likely not be enough. There is enough uninsured and underinsured population in the country.
So, I love it when I see Policy Bazaar trying to bridge the gap by nudging the potential insurance holder for insurance using multiple messages. In addition to using all the four possibilities of Saam, Daaam, Dhand and Bhed ( Logic, price/cost, penalty and doubt/differentiation ). I love how the brand references death and post-death scenarios – making them an integral part of communication.
The brand has used suddenness of need, low cost of insurance, and procrastination for signing to push Insurance subscriptions. And in all cases, humour is used as a creative device.
The brand’s latest communication featuring Pankaj Tripathi leverages post-death possibilities. The eternal question- will you be sent to Heaven or hell. The brand points out that if you have the family under insurance, you are nothing but a Very Irresponsible person who should be thrown into hell. Because Under Insurance is Ghoor Paap– Big Sin.
Policy Bazaar has been consistent in its appeal and thoughts, and it is reflected in its earlier communications.
E
One of the earlier communication of Policy Bazaar features Mr PolicyBazaar, Insurance Ka Superhero features Akshay Kumar. It focussed on quick and effective insurance approval and assistance, highlighting a 30-minute claim assistance promise.
However, promises are promises. The common man is still in the era of using the agent. Customers who have experienced dealing with the TPA ( Third Party Associates) for approvals realise that a direct agent is still an essential link for timely and correct approvals.
The digital space does not give this confidence in last-mile connectivity and interdependency.
Policy Bazaar does speak of providing end-to-end assistance through the entire insurance journey, starting from comparing policies and premiums, best prices, ease and speed of buying online to what matters for the consumer more – the claims support; there are still barriers that the brand needs to address.
And finally, they even touched Tinder humorously.
BLOG/047/2022. To connect, send an email or join on Twitter S_kotnala or subscribe to the weekly update, click here.
