How Kotak Life Insurance Created Awareness
by Anumeha Singh Insurance SpecialistMyths
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 699 times.