With multiple insurance companies vying for the consumer’s attention, it is time for a change in tactic. And there are some companies that have been able to break away from the clutter of selling the insurance based on its need.
The recent campaigns by ICICI Lombard and Acko General Insurance have hit the nail on the head.
Let’s first look at the ICICI Lombard #TechnologyWithAHumanTouch campaign.
The series of ads go on to show how people are stuck in various situations that require either processing of a claim, getting a claim settlement or claiming a value-added service and how ICICI has made things easy for them. The heightened emotions of frustration, despair, fear are all seen in the protagonist, which is common to any insurance ad. But that’s where the similarity ends. The ad goes on to humanize the technology by giving it a friendly face and name and the ad has been shot in a way that it seems that the human-faced technology is on its way to help the customer in need. For once an insurance brand has not taken an “advisor” or “mentor” role in bringing across its USPs – high claim settlement ratio, quick service, faster disbursal.
In a similar attempt of breaking the traditional “friendly advisor” role is Acko General Insurance with its latest campaign – #DimaagKyaLagana
The insurance brand wants to tell its prospects about how Acko is the right choice for Motor Insurance. Using the Sprite – Clear Hai approach, the brand humanizes a car as the angry girlfriend while the protagonist is seen apologizing for not purchasing insurance yet. Another cooler car (the ‘crush-material’) appears and talks about Acko. The pain-points of insurance purchase are well highlighted while the brand is plugged in really well. The viewers are left to interpret this “Iss Mein Dimaag Kya Lagana” in any way they want – it’s the only choice of insurance, the interface is easy to use, all information is provided to you up front, no comparison required, etc.
Clearly, these brands have realized that while people understand the need for insurance, it is the other factors like cost of premiums, promised value-added services versus actual delivery, difficulty in claim processing, etc which deter the customers from making the final purchase. Talking to the target audience about these deterrents makes more sense as the market evolves.