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Karthik Raman

Over the past few years¸ IDBI Federal Life Insurance has been focusing on driving brand engagement primarily through the digital medium. Hence, it didn’t experience much of a slowdown last year in engaging with audiences despite the ongoing Covid crisis.

However, with the government-mandated safety protocols in place, it did face a bit of a challenge in shooting and creating video content during the lockdown period.

And, therefore, video content is something it plans to explore more this year, said Karthik Raman, Chief Marketing Officer and Head, Products, IDBI Federal Life Insurance.

He mentioned how creating quality content for the digital medium would become more critical this year and he is hopeful of working with its agency and other partners to produce innovative and clutter-breaking content.

“Digital would be the biggest force to reckon with as brands shift away from traditional media like print, television and outdoor advertising. Advertising through mobile, social media and websites is expected to see a quantum jump. As the space becomes more crowded, brands would need to create crisp, engaging, relevant content to break through the clutter and effectively connect with their consumers. We would also see brands using data analytics to a greater extent to effectively customise their communication, making it more targeted and relevant,” he added.

With its continued focus on digital and the development of content for this platform, its budget for 2021 is roughly along the same lines as the previous years.

Raman believes that the insurance category is shifting towards digital as it is emerging as the most cost-effective and sustainable medium of communication and expects companies in the sector to continue to enhance their digital touchpoints, offerings and communication to drive business and for a better customer experience.

While 2020 has been a difficult year, one positive outcome of the pandemic has been an increase in awareness of the need for insurance, especially term and health insurance.

As a category, IDBI Life Insurance hopes to capitalise on this greater acceptance and continue to further educate people on the role of insurance in financially securing themselves and their families against life’s uncertainties. Raman said the brand’s outlook over the next three years is to further build and strengthen its communication and hopefully regain its place as one of the Top 10 Most Trusted Life Insurance brands in the country.

This year, apart from focusing on creating more video content, the brand aims to organise its marathons and other on-ground sports events.

Amid the pandemic, it organised online fitness sessions, virtual runs, marathons, and launched the #FutureFearless campaign which sought to encourage people to look to the future with optimism and confidence.