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<ul><li>While a lot of brands cut down on their <keyword id="6354839" type="General" weightage="20" keywordseo="marketing" source="Orion">marketing</keyword> budgets during the pandemic, <keyword id="472962" type="General" weightage="20" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword> continued to communicate with its consumers, to maintain its connect with them.</li><li>We speak to <keyword id="6204979" type="General" weightage="20" keywordseo="vishal-subharwal" source="Orion">Vishal Subharwal</keyword>, Head-Marketing, Digital Business &amp; E-commerce <keyword id="45123" type="General" weightage="20" keywordseo="HDFC" source="Orion">HDFC</keyword> Life to understand the brand's marketing strategies through the pandemic and what its areas of focus will be going ahead.</li></ul>The experience of the last year and a half has made people more careful about where they invest, how they invest and how much they invest. More and more people, especially the younger population, is keen on researching on financial products, and opening up to investing to secure their futures. During the last 21 months, many sectors cut down on their marketing spends. However, the Banking, financial services and insurance (<keyword id="6356925" type="General" weightage="20" keywordseo="bfsi" source="Orion">BFSI</keyword>) sector put in a lot of money in marketing, because there was an appetite among consumers. The challenge for these brands has been to come up with strong, engaging communications that would help establish trust. We recently spoke to Vishal Subharwal, Head-Marketing, Digital Business &amp; E-commerce HDFC Life to understand their marketing strategies through the pandemic, their recent marketing campaigns and what their future strategies will look like, to build a stronger connect with their audiences. While a lot of brands cut their marketing budgets during the pandemic, HDFC Life invested consistently. It recently came up with a campaign #RetireOnYourTerm. The goal of the campaign was to highlight the importance of timely financial planning to live a comfortable life post-retirement. <div type="Youtube" id="yw73DxHNj5k" title="#RetireOnYourTerms with HDFC Life" thumbUrl="https://i.ytimg.com/vi/yw73DxHNj5k/mqdefault.jpg"></div> After the pandemic led to a massive consumer behavior change and more and more people became comfortable buying online, HDFC Life came up with a digital campaign, ‘Ye Sahi Toh Life Insurance Online Kyu Nahi?’ earlier in the year starring <keyword id="418016" type="General" weightage="20" keywordseo="manjot-singh" source="Orion">Manjot Singh</keyword> to encourage audiences to buy insurance online. <div type="Youtube" id="zM3rDvfx7Pg" title="#YeSahiTohLifeInsuranceOnlineKyuNahi - Shopping For Apparel Online? Buy for insurance online too!" thumbUrl="https://i.ytimg.com/vi/zM3rDvfx7Pg/mqdefault.jpg"></div> Speaking about the recent campaign, Subharwal said, “Our retirement campaign was based on the insight that a lot of people were deferring the creation of their retirement corpus because they wanted to spend on other priorities like their children’s education, marriages etc. The entire focus of a lot of Indian households is on getting the children to stand up on their feet, which is a very important element as far as their financial and economic independence is concerned. However, in doing so, they were ending up compromising their own. While there is an intent towards building this retirement corpus, very few people work towards this goal. Through this campaign, we wanted to tell people to start planning for their retirement so that by they could reach financial independence and retire on their own terms. We did not even speak about a particular product in the campaign. People already recognize the brand and the campaign was aimed more at encouraging people to think about their retirement corpus and think of us as a vehicle to make that happen.” The last 1.5 years has been unprecedented, to say the least, and most brands had to recaliberate their marketing strategies. So how did HDFC Life navigate those tough months? “We still stand for our tagline, <keyword id="12838953" type="General" weightage="20" keywordseo="sar-utha-ke-jeeyo" source="Orion">Sar Utha ke Jeeyo</keyword>. Fundamentally, not much has changed in the way we communicate with our consumers. What has changed is, we're now trying to become more contemporary and topical,” explained Subharwal. Last year during the pandemic, the brand came up with awareness campaigns talking about the importance of wearing masks. After the second wave stuck, the brand shone the spotlight on good Samaritans helping people with their good deeds. It had then come up with some short Facebook thumbstopper videos. It later also did a campaign where the message was around bouncing back from the pandemic’s impact. The pandemic also led to an increase in the emphasis on digital. With new consumers coming on the internet, and also getting comfortable with online purchases, the campaign earlier in the year was aimed at ensuring the brand is where the consumers are. On what gives the brand an edge over other players in the segment, Subharwal said, “We are able to straddle two segments very well. People see as innovative and ahead of our peers technologically. We are seen as an innovative brand that is investing in the future, investing on good products. Secondly, we have the advantage of being a part of the HDFC group. We therefore have the consumer’s trust, our claim settlement ratio and the way we design our customer service processes, goes into creating a trusted consumer brand. So this ability to manage this duality, of being an innovative insurer at one end and being a trusted financial services player, part of an organization that is usually trusted for its ethics and governance gives us an edge. Most of the competitors will fall in either of these category, we are probably the only player that is able to straddle this balance of trust and innovations in the category.” HDFC Life has done a lot of brand campaigns over the year which has helped build awareness both of its products as well as it as an important player in the segment. But going ahead, what will his broad areas of focus from a marketing perspective be? Subharwal said, “Going ahead, you will see more product-led campaigns from us, in addition to the brand campaigns. Our Sanchay Plus plan is pretty well-known among the distribution ecosystem. Our aim would be to make Sanchay a consumer brand as well. We will try and achieve this through our <keyword id="35666" type="General" weightage="20" keywordseo="advertising" source="Orion">advertising</keyword>. On the marketing side, we are focusing a lot on consumer experience. We've revamped our website, made it very clean and simple. So whether you're coming to research a product or understand a category, we are there to serve. Similarly, on the CRM side, we're investing on a dynamic CRM solution to improve customer experience. We have invested on the Adobe campaign management tool so that our communication is consistent. We've also moved to a platform that is scalable because we see a lot of demand coming in from consumers and we want the experience to be great. Building on all of this will be our focus going ahead.”

We are probably the only player that straddles the perfect balance of trust and innovations in the category: Vishal Subharwal, HDFC Life

<ul><li><keyword id="472962" type="PERSON" weightage="20" keywordseo="HDFC-Life">HDFC Life</keyword>'s latest campaign is called #TheRightStep.</li><li>Conceptualised by <keyword id="3900173" type="COMPANY" weightage="20" keywordseo="Logicserve-Digital">Logicserve Digital</keyword>, it is a series of thought-provoking videos motivating individuals to make a difference in these difficult times.</li></ul>HDFC Life has launched a campaign #TheRightStep to celebrate stories of kindness while also encouraging people to be the ray of hope in someone’s life through small acts of help and generosity. India is putting up a brave fight to overcome the pandemic. Individuals continue to show inspiring resilience in the middle of multiple challenges. The campaign aims to inspire everyone to take the right action and help fight this pandemic in whatever way they can. To spread this message, HDFC Life has created six ten-seconder videos with a selection of slice-of-life stories, showcasing everyday moments where people from all walks of life are contributing towards fighting the pandemic in their own capacity. Through this short video format, HDFC Life has chosen the ‘less is more’ route and created stark, impactful stories aimed towards breaking the clutter, moving hearts and eventually, encouraging people to follow the right path. Speaking about the necessity of the campaign in these times, <keyword id="6204979" type="COMPANY" weightage="20" keywordseo="Vishal-Subharwal">Vishal Subharwal</keyword>, Executive Vice President, HDFC Life, comments,“Our campaign #TheRightStep is our small initiative in recognizing the everyday heroes around us while also encouraging the audience to follow their footsteps and focus on the ‘right’ thing in these critical times. With this campaign, we also wish to spread a sense of optimism with examples of how society has taken a selfless turn, and how with these small acts of kindness we can together fight this pandemic.” The stories revolve around one family, where each story sees one main character (a member of the family) taking #TheRightStep and feeling a strong sense of contribution as a result of owning up to their duty and responsibility at a time when even the tiniest bit of help can potentially impact lives. Commenting on the challenge of creating a thought provoking, dynamic campaign that aligns with the brand’s philosophy of “Sar UthaKeJiyo,” Manesh Swamy, Vice President at Logicserve Digital, says, “People are definitely not in the right frame of mind to interact with brands in such difficult times. What they expect from brands is to be compassionate, show empathy, and spread positivity.” <div type="Youtube" id="uu6X2fH8OCQ" title="Take #TheRightStep | HDFC Life" thumbUrl="https://i.ytimg.com/vi/uu6X2fH8OCQ/mqdefault.jpg"></div> He continued, “HDFC Life has always enabled individuals to live life with pride and we wanted to convey the same through our stories. Since we noticed everyone’s morale was at a low, we thought this is the right time to encourage people to step up and do the right thing, and help people navigate through these tough times. Hence through quick actions in the short format, we wanted to convey how every single person can make a difference by taking the right step. Since a majority of the cities in the country were in lockdown, it was difficult to shoot but we managed to pull it off with all the safety norms in place. We hope after watching this, viewers get inspired to do the right thing.”

HDFC Life thanks covid volunteers, plasma donors and celebrates many other small acts of kindness

<keyword id="472962" type="General" weightage="20" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword>, one of India's leading insurers has collaborated with renowned cricketer, <keyword id="3142448" type="General" weightage="100" keywordseo="rishabh-pant" source="Orion">Rishabh Pant</keyword> to create a compelling campaign aimed at driving the need for term insurance. The objective of the campaign is to encourage individuals to financially secure their loved ones against unforeseen circumstances. The campaign serves as a powerful reminder of the fact that life is unpredictable and seldom gives second chances. This makes it necessary for one to prepare beforehand to enable their loved ones bounce back from any challenge that life throws their way. The film showcases the real-life story of Rishabh Pant and his journey of realisation. Through the film we see glimpses of his numerous accomplishments, moments of happiness and the experience that taught him the biggest lesson of his life. Speaking about his association with the campaign, Rishabh Pant said, "I am happy to be associated with HDFC Life for this campaign. Life is unpredictable, and HDFC Life has been at the forefront of encouraging people to financially secure themselves and their families against life's uncertainties. <keyword id="6406875" type="General" weightage="20" keywordseo="life-insurance" source="Orion">Life insurance</keyword> is a financial product that not only acts as a safety net but also enables us to continue the journey ahead with a sense of pride." Vishal Subharwal, Chief Marketing Officer and Group Head - Strategy, HDFC Life added, "The film captures the true essence of life while bringing the spotlight on the core benefit of term life insurance. We hope that the powerful real-life story of Rishabh Pant, a role model for many and a world-class athlete, serves as a pertinent example to make one realise the uncertainties of life and the need for financial protection. Most Indian households find it hard to sustain their living standards in the absence of adequate life insurance cover. We sincerely hope that this campaign will educate and inspire more individuals to secure their families with Term Insurance." Rajdeepak Das, CEO &amp; Chief Creative Officer, <keyword id="131262" type="General" weightage="20" keywordseo="leo-burnett" source="Orion">Leo Burnett</keyword>, South Asia said, "The pandemic has left us with a false sense of invincibility. With this campaign we wanted to reiterate that not everyone gets a second chance at life. The biggest mistake we can make is to not learn from our mistakes and to bring home the message of unpredictability. We drew inspiration from the real-life incident of cricketer Rishabh Pant where he survived a near-fatal road accident. Our campaign breaks the illusion of invincibility and reiterates the importance of financial planning." The campaign will be available across multi-media platforms - Television, Digital, Print, and Outdoor.

Rishabh Pant stars in HDFC Life's latest campaign on term insurance

<ul><li>With the end of the year just round the corner, we bring you our latest trends report that talks about marketing trends in the <keyword id="6356925" type="General" weightage="20" keywordseo="bfsi" source="Orion">BFSI</keyword> sector.</li><li>Vishal Subharwal Head, Marketing, Digital Business &amp; E-commerce, <keyword id="472962" type="General" weightage="20" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword>, <keyword id="878756" type="General" weightage="20" keywordseo="sandeep-walunj" source="Orion">Sandeep Walunj</keyword>, CMO, Nippon Life India Asset Management Ltd, <keyword id="328559" type="General" weightage="20" keywordseo="ajay-kakar" source="Orion">Ajay Kakar</keyword>, CMO, <keyword id="6391710" type="General" weightage="20" keywordseo="aditya-birla-capital" source="Orion">Aditya Birla Capital</keyword>, <keyword id="4121510" type="General" weightage="20" keywordseo="jasneet-bachal" source="Orion">Jasneet Bachal</keyword> – Chief Marketing Officer, YES Bank, <keyword id="178450" type="General" weightage="20" keywordseo="abhishek-gupta" source="Orion">Abhishek Gupta</keyword>, CMO, Edelweiss Tokio Life Insurance, Karthik Raman, Chief Marketing Officer and Head - Products, Ageas Federal Life Insurance and <keyword id="9793035" type="General" weightage="20" keywordseo="nikhil-bharadwaj" source="Orion">Nikhil Bharadwaj</keyword>, Head, Corporate Communications, Bajaj Allianz General Insurance share their thoughts.</li></ul>As the world slowly recovers from the Covid-19 pandemic, financial services are slowly but steadily changing their way of doing business and also the way they engage and communicate with their consumers. In the last 2 years, there has been a massive shift in the way consumers interact with the Banking, Financial Services and Insurance (BFSI) players. With the change in consumer behavior, there has also been a shift in the way these organizations are communicating with their consumers. There is a lot more empathy, the last year has about putting the spotlight on courage, resilience and hope. Going ahead too, players in the BFSI sector will need to catch the pulse of the consumers, and reach out to them at the touch-points they are most comfortable at. The need of the hour also is to listen to consumers, figure out their pain-points and try and solve them. Seamless customer experience will play an intrinsic role in keeping brands top-of-mind. The future will be all about convenience and simplicity. To understand a few larger trends we can expect to see in the BFSI sector in the year ahead, we reached out to some key players, and here is what they had to say: Vishal Subharwal Head-Marketing, Digital Business &amp; E-commerce HDFC Life <div type="image" title="Vishal Subharwal" msid="88591744" hostid="261"></div> I believe a ‘user first, omni-channel’ approach to be a trend that marketers need to cater to 2022. Let me elaborate my thoughts. To be successful, business organizations have to move in sync with larger trends seen in wider society. These changes are often reflected in various elements such as popular culture, technology adoption curves, environmental awareness. The role of marketing is to identify such changes ahead of the curve &amp; align resources accordingly. Consumers no longer look at old-school structural boundaries but are more focused on the seamlessness of experience offered to them across touch-points, be it a physical branch or an online platform. This is a trend commonly reflected across industries, as on a standalone basis neither model serves the customer needs well. When was the last time you saw an online payments intermediary get a physical banking license, an online medicine intermediary purchase a physical diagnostic chain, an online insurance broker opening physical branches, retail stores with online integrations. There are many such examples. In the context of rapidly evolving business models, marketing capabilities hence need to be aligned towards building superior omni-channel capabilities for customer acquisition &amp; lifecycle management. Sandeep Walunj, Chief Marketing Officer, Nippon Life India Asset Management Ltd <div type="image" title="Sandeep W 1" msid="88591952" hostid="261"></div> There are three very interesting trends that I feel will dominate 2022 in post-Covid Indian BFSI: 1. Social Discussion Forums where advanced users and experts handhold first-time users/ information seeker Seeds were sown during COVID when people dropped their inhibitions against digital financial transactions/ online investing. Information seeking/ handholding was the logical next (first) step and that’s what’s going to be mainstream. Going further, neutral enabling platforms will equip potential customers with information and tools to make right choices. These could also be offered/ run by an industry body or Government/ quasi-government bodies (example: MF Central mooted by SEBI) 2. Agents/ Brokers connecting with customers through Video Bots The evolution mentioned in point 1 above will further lead to distributors of financial products connecting with potential customers through video bots on social media wherein questions can be asked, individual proposals can be sent, appointments sought and transactions concluded through bots. 3. Social Commerce 2.0 with Meta+Insta leading the way Shopping while consuming social media seemed like an alien concept in early 20s but it is clearly how the consumers prefer it/ want it and desire it. We all saw the string response Meta generated and I am sure brands would be hatching their plans to leverage this trend. Ajay Kakar, Chief Marketing Officer, Aditya Birla Capital <div type="image" title="Ajay_Kakar_DSC_1575" msid="88591665" hostid="261"></div> Uncertainty will remain a way of life, in the foreseeable future. But as they say, tough times are the true test of character, and in these times, it holds equally true for a brand. While there will be a temptation to lay low and see how the uncertainty pans out, such times will help sift the men from the boys. He who sows during this time, will reap the most. Now. And hereafter. Towards this end a ‘spray and pray’ approach will not help. Brands will have to keep a finger on the customer’s pulse; be it their felt, or even unfelt (as yet) needs. Brands that can anticipate the customer’s need will have to offer relevance, simplicity, and comfort in these ever-changing times. Speed to market will become a barometer of success. While anticipating the customer’s future needs, I believe that a brand must not place all its bets only on the digital world. The customer will want and will exercise a choice. High touch and high tech. As he wants it, when he wants it. At the end of the day, the customer remains the king and the brand that not merely listens, but makes its customers feel heard for all their said and unsaid needs, in the times like these, will live to narrate the tale.” Jasneet Bachal – Chief Marketing Officer, YES Bank <div type="image" title="Jasneet Bachal" msid="88591695" hostid="261"></div>While Banks have been consistently trying to engage the ‘new to banking’ generation - Gen Z and late millennials, building a stronger connection with them will be a key trend for banks in the coming year. As digital natives, this audience has naturally come to expect digital-first experiences that are seamless across apps and platforms. Therefore, their expectation from banking is significantly different – a near-instant fulfilment which the banks will need to accommodate through products and services, in order to address this shift in behaviour. To offer a differentiated banking suite that meets these expectations, banks will need to create simplistic and personalized solutions that can come alive by re-imagining customer journeys for this segment. Using purpose-driven marketing that appeals to their emotional motivators – their beliefs, drivers and cultural environment – banks can cater to the experiences they are looking for. In sync with this, evolving the design language and communication, with a focus on simplicity and relatability, will help establish a lasting connect. Abhishek Gupta, Chief Marketing Officer, Edelweiss Tokio Life Insurance <div type="image" title="Abhishek Gupta -- IMG_6499" msid="88592207" hostid="261"></div> Customer experience, data protection and social consciousness will be the three dominant trends for the BFSI sector in 2022. The last two years of the pandemic have recast customer expectations from brand experiences across various platforms. In line with these changes, brands will work on building consistency in CX, irrespective of the purchase or service channel. They will also make efforts on easing access to insurance by continuing to invest in multi-channel capabilities. While the pandemic has bolstered the digital opportunity, it has also raised concerns over data protection. As data becomes increasingly important for businesses, there is an improving awareness among customers regarding data privacy. With giants like Google and Apple making first move towards data protection, there is a looming threat to the efficacy of marketing campaigns. Brands will proactively craft inclusive data protection strategies so that customers can stay in control of their data. Lastly, brands will increasingly align with a social purpose that best reflects their brand values. Of all the social initiatives, Environment, Sustainability and Corporate Governance will be higher on priority list. Karthik Raman, Chief Marketing Officer and Head - Products, Ageas Federal Life Insurance <div type="image" title="Mr. Karthik Raman, CMO and Head-Products, Ageas Federal Life Insurance" msid="88608360" hostid="261"></div> The pandemic has made people realise that uncertainty in life is a reality and not just a sales pitch. Given that, the realisation of the need for insurance has increased, especially for term and health insurance. We have seen demand rising, not just in the metros and Tier 1 cities but even in the smaller towns and rural areas. With reduced spending on lifestyle expenses, people have greater disposable income in hand which they are keen on investing in financial instruments such as life insurance. Parents too, are increasingly keen on investing in child plans. Findings from our recent #FutureFearless survey have shown that the pandemic has influenced Indian parents to rethink their financial health and priorities for their children. Saving for their children’s education, future and milestones has emerged as the top priority for parents, along with saving for medical emergencies. In 2022, as an industry, we need to further capitalise on this demand. Using various platforms, especially the cost-effective digital medium, we need to further educate people and create awareness on the role of insurance in financially securing themselves and their families against life’s uncertainties, while allowing them to pursue their dreams. Nikhil Bharadwaj, Head – Corporate Communications, Bajaj Allianz General Insurance <div type="image" title="Nikhil Bharadwaj, Head - Corporate Communications, Bajaj Allianz General..." msid="88591976" hostid="261"></div> The pandemic has taught us that communication is of utmost importance not just for your customers, but also for other stakeholders including employees. Going forward, simplicity and authenticity, will be the most important part of all communication! While inclination towards digitization is increasing, print is not going away, in fact I see it making a strong come back. Digital media is surely the future and I see another year where this belief is reinforced further. In fact, we’re already listening to talks of OTT platforms of news channels, which might be something totally new with custom content. On the internal communications side, as always it remains as a tool which helps organizations provide right information to their employees. However, I feel that it will also play a role of culture builder wherein it will no longer be restricted to communications or HR team, but various other functions getting involved in it. With complex business models, we’ll see custom built communications for specific SBUs.

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We are probably the only player that straddles the perfect balance of trust and innovations in the category: Vishal Subharwal, HDFC Life

Samarpita Banerjee

HDFC Life thanks covid volunteers, plasma donors and celebrates many other small acts of kindness

BI India Partner

Rishabh Pant stars in HDFC Life's latest campaign on term insurance

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Marketing: Trends to watch out for in the BFSI sector in 2022

Samarpita Banerjee

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