Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) has adopted a new brand positioning with a new tagline - 'Faidey ka Insurance'. The revamped positioning and supporting campaigns convey the brand idea of life insurance with the advantage of sound investments.
The earlier campaigns of Kotak Life Insurance featured the tagline - 'Zindagi se ek kadam aagey (One step ahead of life)'. The idea was that sound financial planning would help one stay a step ahead.
Speaking to afaqs!, Elizabeth Venkataraman, senior vice-president, marketing, Kotak Life Insurance, says, "It is a highly cluttered environment. Standing out is a difficulty. We realised that to stand out, we must create a distinct identity."
In a press statement, Gaurang Shah, managing director, Kotak Life Insurance, says, "Consumers now seek beyond protection and endowment from their insurance plans. In this context, leveraging Kotak's core strength of investment expertise seemed a natural extension for the brand. The new positioning is a reflection of Kotak Group's strength in the area of research and capital markets."
In the TVC created by JWT, a Kotak Life agent is featured sitting in a living room, talking to a family about child insurance plans. The agent talks about how parents want their children to take up various professional options. A couple is shown with their son - the child seated between his parents turns into an astronaut, doctor, cricketer and a musician in turn, as the agent mentions these career options.
The agent then says that a child's career option cannot be guaranteed, and neither can the returns of a regular insurance plan. He then describes how Kotak Life Insurance's Child Plans ensure better returns from investments made in a growing market, which could facilitate higher spends on the child's education. The commercial ends with the agent leaving the house with a piece of friendly advice - that a child must be given room to make his own career choice.
The ad attempts to break the notion that a child plan is synonymous with the parents' expectations from their children, suggesting that parents should refrain from forcing their expectations on their child.
"The brief we worked on was 'life insurance with an investment edge'. Among the insights for the ad was that kids today decide themselves the career option they choose to take," Chalam tells afaqs!
More Kotak Life Insurance commercials would break next year, she adds.
While the TVC is on-air, outdoor, print, radio and digital campaigns will begin in January.