Summary
Presenting our Insure India platform: An innovative, industry-first, unique B2B microsite to drive distribution partner engagement & satisfaction and deliver personalized customer experiences Life insurance category faces couple of key challenges: 1. Consumers find it difficult to understand 2. Sales partner engagement is impacted by open architecture (a partner allowed to sell multiple life insurer's plans). Our Insure India platform; a Guinness World record winner, helped us in solving for these consumer and business challenges.
Challenge
Life insurance category in India grapples with multiple challenges today: 1. Penetration stands low at - ~3% of GDP 2. Inadequacy of life insurance coverage – Protection gap stands at ~92% Additionally, operating in this category as a business is difficult considering the challenges get accentuated with consumer and business level complexities: 1. Consumers find it difficult to understand life insurance considering it's a comprehensive and complex subject 2. For Life Insurance, distribution is key to drive consumer awareness, adoption and sales. However, with open architecture (a partner allowed to sell more than one life insurer's plans), it has become difficult to gain mindshare of partner teams, impacting the engagement overall.
Objective
The campaign objective set out was as follows: - To drive engagement among 340 partners and 2 Lac+ sales advisors/agents and to spread awareness about life insurance among consumers, resulting in 1-2% increase in partner satisfaction
Strategy
We looked at a three-pronged strategic approach for driving partner and customer engagement: 1. Leveraging occasions like Life Insurance Awareness Month – We have been leveraging occasions (like Insurance Awareness Day and Life Insurance Awareness months) with dual objectives of driving partner and customer engagement: a. To strengthen engagement with 340 partners and 2 Lac+ agents, we roll out integrated campaigns with breakthrough innovations like Insure India platform. Secondly, customized campaign elements are launched to best suit the partner's needs and requirements. b. To drive customer engagement, we look at customer-centric initiatives driven through partners like branch activations, data driven customer campaigns through Digital channels etc. 2. Understanding consumer insights basis data, trends to build strong value proposition based solutions – To build Insure India platform and campaign, we looked at multiple research studies, digital & social trends, past learning eg: a. Riding on consumer trend of selfies on social media and sharable content b. UI/UX best practices for simplified platforms with personalized experiences (eg quick & seamless journey, low bounce rate, etc.) c. Making consumers belong to the larger cause of Insuring India through our platform, building a sense of collective participation and community 3. Making the B2B digital platform reach the partners and consumers through offline Marketing - To go beyond the digital universe of targeted audiences, we enabled multiple strategic levers like: a. 50+ on-ground activations at partner branches across markets b. Customized collaterals and gamified engagements for partners and their sales teams 4. Thought leadership for partner mindshare – As a strategic lever, we look at thought leadership through our innovative, customer centric solutions (in this case, Insure India platform) to gain mindshare with partners. In this regard, leveraging PR efforts helps us build trust and engagement with Senior Management and field teams alike of partners
Data
For us, data is the fulcrum for any decision making, especially when it comes to partner and customer initiatives. For developing and executing Insure India platform, we looked at multiple data streams: 1. Researches for understanding consumer trends – As a foundation step to any campaign, we look at primary and secondary researches to understand consumer better and related actionable insights. To build Insure India platform, we harped on the following key insights and trends: a. Selfie culture on social media doing waves, with 92 mn selfies being shared on a daily basis b. Triggers and barriers to online journeys and experiences 2. Understanding distribution partner landscape and their requirements - With a diverse partner base of 340+ partners and 2 Lac+ agents, we understood the branch network of key partners and focus markets to customize Insure India initiatives accordingly. 3. UI/UX best practices for enhancing the end user experience of microsite – For the Insure India platform, we looked at the following ways to garner the relevant UI/UX practices: a. Learning and experience from our company website and other microsite platforms b. Collation of actionable insights from digital partner vendors c. Beta testing in masked fashion for primary initial findings and bug fixing 4. Historical data and learning for campaign optimization – Basis the past experience of running integrated campaigns and building engagement platforms, we applied key learning while developing the Insure India platform: a. Simple interfaces with least number of steps work better b. Customization and sharing options for ease of usage c. Concise and relatable content for optimized user experience 5. Data driven campaigns to drive policyholder engagement - Understanding the base profiling for segmentation is starting point for policyholder campaigns. Further, insights and analytics are leveraged to communicate value proposition in a relevant manner.
Solution
To build this innovative B2B microsite in creatively engaging manner, we followed a structured approach with cross-functional collaborations: 1. Conceptualizing and designing the platform in partnership with our creative agency - We arrived at a workable microsite model through key steps like: a. Wireframes and architecture b. Designing and finalization of frames c. Theme, content and look & feel that's relatable d. Personalization for desired user experience e. Testing for seamless run of the site f. Deployment and monitoring for stability 2. Solving for partner and customer consent, which is critical for data privacy – Personally Identifiable Information (PII) of partners and their customers is utmost critical to be safeguarded, which was ensured through the following steps: a. Non-disclosure agreement with confidentiality clauses b. SSL certification for enhanced data encryption c. Restricted hosting of data in line with guardrails d. Three-factor OTP authentication e. Validations like only selfies and no other images for uploads, no obscene content etc 3. Tech challenges that required cross-functional efforts for quick resolutions – Customization options for users with strong validations was the key tech challenge, which was resolved after multiple iterations and testing rounds. 4. UI/UX best practices for enhancing the end user experience of microsite – Following best practices were considered: a. Best-in-class site load time b. User friendly navigation and flow c. Adaptive across devices d. Personalization fields for better connect e. Placement of site objects basis heat map practices f. Downloadable and sharable output 5. Large scale campaign roll out for significant reach and impact – 360 degree launches across partners were planned for maximum impact: a. Grand launch with Senior Leadership involvement b. Co-branded collaterals for better visibility and uptake c. On-ground activations at 50+ partner branches for enhanced filed sales connect d. Campaign extensions across PR, Digital, events, etc.
Results
As a marketing unit, a successful campaign for us is the one which solves for customer's needs as well as aids in organizational objectives like partner engagement & satisfaction. And, the Insure India platform campaign delivered on both. Below is a snapshot of the significant impact delivered by our campaign on set KPIs: KPIs: - To drive engagement & satisfaction among 340 partners and 2 Lac+ sales advisors/agents and to spread awareness about life insurance among consumers, resulting in 1-2% increase in partner satisfaction Impact delivered: 1. Partner Engagement & Satisfaction – 5% increase in partner satisfaction scores i.e. 3X of set objectives 2. Guinness World Records™ for ‘Largest online selfie mosaic with an incredible 19,097 photos'; a testimony to this world class partner engagement platform https://www.guinnessworldrecords.com/world-records/744447-most-contributions-to-an-online-selfie-mosaic 3. Other Metrics – a. Organic coverage in 208+ publications b. Customer reach of over 1.5 Cr c. Employee and sales reach of over 1.8 Lacs d. Positive traction and reviews on Insure India by 100+ key partners
