'Khuddari' (self respect) is perhaps a virtue that has been engrained into us since childhood and this is the virtue that HDFC Standard Life Insurance, a joint venture between HDFC Ltd and Standard Life Assurance Company, wants to inculcate in the community.
"The concept behind the campaign is to promote the feeling of self confidence among people. Our idea is to communicate to the consumers that you need to trust yourself and be independent irrespective of what age group you fall into," said M Suresh, General Manager, Sales. Suresh claims that the response from the commercial has been overwhelming for the brand.
Asked on how they are differentiating themselves, he said, "Unlike everybody who are focusing on communicating the obvious messages like protection, more profits and better future. We are stretching the idea of 'self respect' further to 'financial independence' across age groups."
Dentsu is handling the creative. Nikhil Advani of Kal Ho Na Ho fame has made the film and Kailash Kher rendered his voice for the ad film's song. The film was shot at a station in the suburbs of Mumbai.
The company is also planning to increase its locations from 110 to 150 in three months. "The company is planning to penetrate further into semi-rural towns," said Suresh. During the 2003-04, the company crossed Rs 13,500 crore in Sum Assured; covering 4,50,000 lives and registered a 76 per cent growth in new business premium income.
The company has taken a twin approach to ensure the extensive reach. "We have looked at the potential and growth from each location. We are present in the urban and have also reached out to the second tier towns. The additional locations is an extension to reach out to the second tier towns," he said.
Asked if they are going to be aggressive in their strategy, he said, "We do not believe in taking aggressive steps in the garb of getting more business. The very definition of life insurance is long term and we understand what long term is. The name of the game is not acquiring market share but to have a sustainable business model, wherein we ensure that every touch point is working correctly."