Sachin Tendulkar and Ageas Federal Life Insurance challenge conventional notions of financial planning

Ageas Federal Life Insurance's latest annual campaign with Sachin Tendulkar challenges conventional notions of financial planning. Erum Kidwai, Sr. Vice President and Head Marketing, Ageas Federal Life Insurance shares why Sachin Tendulkar was chosen as the face of this campaign, how it has leveraged technology such as Gen AI and Deep Fake to ensure relevance and relatability for today’s tech-savvy audience and embodying its brand ethos of #FutureFearless, utilizing state-of-the-art VFX and animated storytelling.

Take us through the genesis of Ageas Federal Life Insurance's annual campaign. Why Sachin Tendulkar?

The genesis of Ageas Federal Life Insurance's annual campaign lies in its commitment to redefine the narrative around financial planning and insurance, aligning with its brand philosophy of making our customers #FutureFearless. Sachin Tendulkar, an icon revered across generations, was chosen as the face of this campaign due to his universal appeal and inspirational life journey. His debut at such an early age serves as a metaphor for the significance of early financial planning, resonating strongly with parents and individuals alike.

Leveraging innovative technology such as Gen AI and Deep Fake, the campaign ensures relevance and relatability for today’s tech-savvy audience. The choice of Sachin Tendulkar reinforces the brand's message of empowerment, encouraging individuals to take charge of their financial future with confidence and optimism. Through the "Cradle to Crease" campaign, Ageas Federal Life Insurance continues to push boundaries in storytelling while amplifying the importance of financial planning across all age groups.

What are some market trends and consumer insights that you are noticing and how is Ageas leveraging them?

Ageas Federal Life Insurance adeptly leverages prevailing market trends and consumer insights to strengthen its brand positioning and engage with its target audience effectively. Recognizing the increasing dominance of digital platforms in consumer engagement, the company strategically focuses its marketing efforts on channels like social media, influencer pages, and OTT platforms, ensuring cost-effectiveness and broad reach.

The brand exhibits a keen understanding of consumer needs, particularly parental concerns about their children's futures, tailoring its campaigns to address these apprehensions. By highlighting the importance of securing one's financial future, Ageas Federal Life Insurance aligns itself with a customer-centric approach, resonating deeply with its audience. The prime insight driving the current campaign being that there is no fixed time or age to buy an insurance plan. The right time is always NOW and each plan can be tailored to meet one’s needs and objectives to ensure a financially secure future.

The company's adoption of innovative marketing techniques, such as advanced VFX and animated storytelling, underscores its commitment to staying ahead of the curve. We not only embrace market trends but also shape them, all while prioritizing our core values of Care, Dare, Deliver, and Share. By tailoring engagement efforts to diverse customer profiles and product suites, we enhance brand visibility and forge deeper connections across various market segments. This commitment to understanding and addressing customer needs cements our position as a forward-thinking and customer-centric insurance provider.

Where is the business coming from most?

Ageas Federal Life Insurance has firmly established itself across the country, however we have a significant market share in the south. This success is owed to our deep understanding of local market dynamics, culturally sensitive approach, and tailored product offerings for individuals and families. Our primary customer base, aged 25-45, includes both men and women, with a notable recognition of women's increasing influence in insurance purchase decisions.

By capitalizing on our understanding of our customer segments, particularly parents, and our strong suite of products, we continue to excel in this market segment. Emphasizing digital transformation and enhanced customer service through mobile applications and ChatBots underscores our commitment to meeting the evolving needs of tech-savvy consumers across demographics. Overall, Ageas Federal Life Insurance's business is rooted in a diverse customer base, with a focus on inclusive growth and delivering exceptional customer experiences.

What are some of your key advertising and marketing strategies? How is Ageas optimizing AI?

Ageas Federal Life Insurance leads the way with innovative advertising and marketing strategies, establishing new industry standards. We are not only one of the 1st brands in the Indian Insurance sector but also across the corporate sector in India to harness the power of Gen AI technology to revolutionize our approach, crafting personalized campaigns that resonate deeply with our audience. We embody our brand ethos of #FutureFearless, utilizing state-of-the-art VFX and animated storytelling to captivate viewers. Our marketing strategy seamlessly integrates traditional and digital channels, with a strong focus on platforms like social media and OTT, ensuring broad and cost-effective outreach.

Leveraging AI, we optimize our marketing efforts, gaining invaluable insights into consumer behavior and market trends to drive targeted campaigns. AI-driven solutions streamline customer onboarding and insurance sourcing through digital channels, accelerating product launches and strengthening partnerships. Our dedication to AI extends to automating underwriting processes and document validation, enhancing operational efficiency and reducing risks. We employ AI-powered tools to scan content, swiftly identifying and addressing any misalignments with brand values or proximity to problematic material. Through proactive measures, we safeguard our brand's reputation and integrity in the digital landscape, ensuring a secure and positive experience for our customers. Additionally, our use of programmatic advertising ensures that our ads reach relevant stakeholders where they consume content, maximizing impact and engagement.

Take us through the brand’s media mix.

Ageas Federal Life Insurance adopts a balanced media mix to maximize its reach and engagement across online and offline channels. Online platforms and channels play a significant role, with a strong emphasis on digital marketing investments. The company strategically allocates resources towards digital spends, focusing on platforms like social media, influencer pages, and OTT platforms to effectively target its desired audience. These channels offer cost-effective and measurable marketing opportunities, allowing Ageas Federal to optimize its digital spends for maximum impact.

Also, the company leverages AI-driven insights and analytics to refine its digital marketing strategies, ensuring more targeted and personalized campaigns.

Offline sales channels like Radio, selective Out of Home media, and visibility in high footfall areas like Cafes contribute to the media mix. We also use our branch network to hold meetings and interactions with our customers and prospects. By investing in both online and offline channels, Ageas Federal ensures comprehensive coverage and engagement across various touchpoints, ultimately driving brand awareness, customer acquisition, and business growth in the competitive insurance market.