Our digital strategy is focusing on multiple fronts, not just marketing. Our aim is use technology to remove barriers. We are investing a lot in content and conversation. Another thing that is emerging in digital is that I can convert my engagement to business. So, we are working on how the customer can get an end-to-end interactive experience online, whether it is purchase, discovery, education or engagement. The dream is to make HDFC Life a truly online insurance company.
You cannot think about digital and offline in isolation any more. This is the biggest shift that has happened in our thinking and I think this has happened in the industry, in general. It is so much a part of our lives today, that our approach also has to be integrated taking into consideration how consumers’ decision making and the way they consume information has changed.
More than anything else, consolidation is at the core for survival and success. With consolidation, the bigger entities will stay relevant and be better equipped to deal with the media buying community. Efficiencies through consolidation should lead to more investment in product improvements, including measurement.