How Kotak Life Insurance Created Awareness

by Anumeha Singh Insurance Specialist

Myths About Life Insurance

From the time the concept of life insurance has been introduced, uncountable rumors have circulated among the masses. Even today, life insurance is not taken that seriously. Accidents can happen anytime and cost lives of loved ones.

 

A few myths that circle around life insurance are:

 

●     Only the breadwinner needs life insurance

●     Life insurance is very expensive

●     Too young for life insurance

●     No dependents so no insurance

●     Life insurance is for old people

●     People with health issues can’t have it

 

All these are nothing but myths and cannot be farther away from the truth.

 

What is Life Insurance?

 

●     A life insurance contract in the most safe and secure way to safeguard your loved ones against any financial contingency that can arise untimely, like an unfortunate event of your demise.

 

●     With a Life Insurance Contract, the insurance company promises to pay a calculated sum to the policy holder’s family upon his/her demise during the policy tenure.

 

Kotak’s Initiative

 

Kotak Life Insurance took it upon themselves to create awareness about the importance of having life insurance. Using social media as a medium, Kotak developed videos and campaigns that reached people pan India.

 

These videos included real life instances like road accidents or sudden deaths of bread-winners of a family. In the campaign, Kotak conducted in-depth research about the habits of the public. The research resulted in highlighting two crucial behavioural aspects regarding life and insuring it:

 

●     Invincibility

●     Procrastination

 

Kotak Life Insurance used descriptive videos to make people realise that amidst daily routines, the family’s future and its security is often left for last.

 

The importance of Life Insurance doesn’t come into light till a jolt is experienced.

 

#LaterMayBeLate

 

This hashtag circulated all social media platforms as an initiative to educate the masses about life-threatening situations without criticism.

 

This campaign targeted individuals between the ages of 30-40 years who tend to delay their decisions to protect their loved ones’ futures.

 

The First Video

 

●     The first video shows a bus that suddenly loses balance. This causes one of the passengers to think about his wife and kids and what would happen to them if he were to die.

●     Through this video, Kotak Life Insurance tried to bring into light the importance of life to people who don’t pay attention to it unless such a situation occurs.

●     The initiative makes an attempt to enlighten people about these experiences.

●     It brings alive a ‘near miss’ situation to make people realise the fragility of life.

●     The campaign asked the masses why an emergency is required to make us act.

●     The campaign urged the people watching to make the protection of their loved ones an emergency.

 

In the later videos, it is shown how Kotak Life Insurance strives to insure lives, how easy it is nowadays to get a life insurance and what are the actual prices of life insurance.

 

What Kotak Has To Say

 

The senior vice president and head of marketing at Kotak Life Insurance talked about this in a statement. She said that through this #LaterMaybeLate campaign, Kotak wants to create awareness among the masses about avoiding procrastination while securing their loved ones’ futures.

 

She clears that while people know that they need to protect their families, they seldom purchase a protection cover, thanks to the inherent procrastinating behaviour.

 

The campaign has been designed to target two groups of people - the uninitiated with the main film and the fence sitters with a set of objection handling films.

 

Sometimes, #ItsNotYourFault

 

●     Kotak Life Insurance advocated the need for protection and precaution of the effects of road accidents with this campaign.

●     The main focus of this campaign was that in road accidents, often two or more parties are involved with one and fault and the other innocent. Despite this, both are affected.

●     Kotak Life Insurance designed at spreading awareness about life insurance aimed at drivers and rides and advised their audience to shield themselves even if #ItsNotYourFault.

 

What The Campaign Consisted

In the campaign, six videos were released on social media. Each of the first three showed different situations of accidents where it was not the person’s fault.

Critical Illness, Permanent Disability and Accidental Death were the three themes displayed in those videos.

After the first three videos, the campaign took the content route and included a series that passed on information to social media used about life insurance for riders and its benefits.

During this campaign, Kotak also released a short content series called #LifeKiShortStories that each showcased different stories in just a few words.

Outcomes Of Both Campaigns

Today, video consumption is increasing rapidly because of the growing use of social media. This medium is spread across all age groups and hence, using it to reach the target audience was a wise choice made by Kotak.

Kotak Life Insurance, with these campaigns, created awareness among the masses about the fragility of life and how important it is to have a proper life insurance for self and loved ones. These campaigns gained recognition throughout India and made people realise what they were doing and what they should do.

Safeguarding loved ones’ futures proves to be a very beneficial step. The recorded responses to these videos confirmed that the message Kotak wanted to spread has made its desired impact.

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Created on Apr 23rd 2018 05:12. Viewed 694 times.

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