As a brand, you have to take a stand and cannot be a fence sitter

‘As a brand, you have to take a stand and cannot be a fence sitter’ (exchange4media.com)

What is now an overcrowded industry, the Private Life Insurance sector in India only started at the turn of the century. Edelweiss Life Insurance entered this market as a very late entrant in 2011, as the 24^th player. The challenge for the brand was to find the sweet spot in the cluttered environment. Taking this challenge head-on, the brand adopted the positioning of #ZindagiUnlimited.  Abhishek Gupta, Chief Marketing and Customer Experience Officer, Edelweiss Life Insurance says, “This is a sweet spot as it has the word Zindagi in it and life insurance is all about Zindagi. This allows us to create meaningful propositions to our customers, distributors and employees through one singular platform as everyone has limitations in their life and brings in consistency in communications which is the hook, #ZindagiUnlimited.”

Since then, this proposition has been ingrained not just in the brand’s communication but also across the organisation. Elaborating further Gupta says that everyone has ambitions and aspirations in their life and to meet these aspirations one need resources and means. However, there is a gap between the aspirations and means and this gap are the limits which holds one back. He says, “At Edelweiss Life Insurance we say that while we cannot claim to fully remove the limits, what we want to tell our clients and distributors is that through our products and services we can help you in reducing these limitations. Once these limitations are removed you can move to a Zindagi which is Unlimited and therefore #ZindagiUnlimited.”

If one were to look at the combined number of life insurance advisers registered with all insurance companies, approximately 27%-28% of this are women, i.e. on the supply side. If one were look at the demand side then approximately 70% of insurance is bought by men but women play a huge role as an influencer in this process, and it are these women the brand chose to target right from its early communication. In fact, Edelweiss Life Insurance was the first to use a women as a protagonist and/or as a solution provider in insurance communication in 2013. Says Gupta, “Using a women as a protagonist was a fairly easy decision for us to take. We look to become an enabler and took a conscious call that in almost all our communication either the protagonist or the person who is coming and saving the day will always be a women.” He continues, “Over a period of time this has helped us create a niche for ourselves. As a brand, you have to take a stand and cannot be a fence sitter or play safe all the time.”

Coming to numbers, tax announcements made in the Union Budget in 2023, led to a huge artificial push and urgency in the month of February and March. This year, despite no impetus Edelweiss Life Insurance has been to able its numbers compared to last year and grow at a decent pace.