Kotak Life Insurance has come up with an innovative marketing strategy. The insurance company is producing a television programme on its life insurance advisors, which is being aired on IBN Lokmat channel. The programme, which went on air on April 30, is anchored by noted film personality Prasad Oak.
Speaking to exchange4media, Suresh Agarwal, Executive Vice President and Head of Strategic Initiatives and Distribution, Kotak Life Insurance said, “The half hour programme highlights real-life success stories of six serving life insurance advisors of the company from different parts of Maharashtra. Through their inspiring stories, whereby they have transformed the destiny of their families through selling life insurance, the company hopes to attract more people to become life insurance advisors.”
A Marathi channel has been chosen given the strong market that Maharashtra provides for the company. “Maharashtra contributes almost 25 per cent to the total agency-based business of the company. Another important reason to select Maharashtra is the better quality of life insurance advisors in the state,” Agarwal added.
The format is innovative wherein a case study approach highlights the financial success and corresponding lifestyle changes of a disparate set of individuals. The company has chosen television as the medium for the campaign as it believes that TV, with its near-life characteristics and audio-visual effect, is best suited to bring alive the proposition. At the same time, parallel initiatives are being run on social media to engage with potential life insurance advisors on a regular basis.
Speaking on the response received, Agarwal shared, “We have received several applications from different parts of Maharashtra. The profile of respondents range from self employed individuals, fresh graduates, retired individuals to housewives.”
It may be recalled that Max New York Life’s latest TV campaign, titled ‘Aapke sachche advisor’, also highlights its life insurance advisors and seeks to change consumers’ perceptions regarding such advisors, whom they tend to eye with suspicion.