Digital continues to be our preferred medium to target consumers: Anjali Malhotra Nanda
Anjali Malhotra Nanda, Chief Customer, Marketing, Digital & IT Officer, Aviva Life Insurance India, says digital offers better scope in terms of customisation and personalisation
Insurance as a category has witnessed aggressive growth in the Indian market over the last few years. One of the drivers of this growth has been the digital medium which the category has adopted in a big way.
Anjali Malhotra Nanda - Chief Customer, Marketing, Digital & IT Officer - Aviva Life Insurance India, says digital offers better scope to this category in terms of customisation and personalisation. “This category, more than any other category, has embraced digital better. The percentage of digital for BFSI is highest in India. One of the reasons for digital being so prevalent is the fact that it allows more personalized and customized communication which suits this category well,” said Malhotra.
She also spoke about the mindset shift that insurance as a category has witnessed over the years which in turn is opening it to more opportunities. “Traditionally insurance was considered as a dark and gloomy category as it had to deal with issues like disease, disabilities, death, etc., and people tend to shy away from any product or category that has these conversations. Now the perception has changed to a large extent because everybody has invested in educating customers that insurance is all about loving well and fulfilling your life goals with a certain sense of guarantee,” explains Malhotra.
Malhotra also spoke about the huge potential this category has since more than 75% of the Indian population continues to be uninsured. “The penetration of insurance still continues to be low, if we look at the number of people opting for it, it is still 20 to 24%. However, the bulk of them are under-insured and over 75% of the people continue to be uninsured.”
When asked if the plethora of consumer touch points has made marketing more complex than ever, Malhotra said, “There are a lot of possibilities and combinations today to reach out to your consumers. I think it is a much easier world for marketers given the number of avenues and opportunities to target consumers.”
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