Communication Goal
Due to lack of awareness and limited understanding of financial planning, the penetration of life insurance category has remained stagnant and low at 2.72%. The state run giant LIC dominates with 70% market share leaving the rest of the pie for 23 private insurance players.
All the players are garnering revenues from "matured audience" (31-50 years, Chief Wage Earners). Thus, with limited purview of its core customers, there was a big overlap of chasing the same profile of customers amongst all Insurance players.
HDFC Life being the leader amongst the private insurance players wanted to change the game...