‘AdEx for Activ One’s campaign is equally distributed among TV, OOH & Digital’

The Banking, Financial Services, and Insurance (BFSI) segment has become a sunrise sector ever since Covid-19 made the world extra careful about healthcare. Maintaining good health has now become one of the top priorities of people in all age groups, resulting in an increase in investment in health-security-related assets. According to InvestIndia.gov, India's insurance premium volume stands at $127 Bn as of 2021 (Life – 76%, Non-Life – 24%). Total insurance premiums in India increased by 13.5% in 2021 as against a global average of 9%. The Indian health insurance industry reported a growth of 26.3% in FY 22, making it the largest non-life insurance sub-segment with a market share of about 36%, followed by the motor segment at 32%.

With the sector growing manifold, marketing has also increased. Aditya Birla Health Insurance (ABHI) recently launched a video campaign for their newly launched product Activ One featuring actor Vikrant Massey. The campaign has been conceptualized by Dentsu Creative India. e4m caught up with Mayank Bathwal, CEO, ABHI, on the nuances of the campaign and the BFSI sector. 

Talking about the objective of the campaign and the brief given to dentsu Creative India for its creation, Bathwal shared, “The brief provided to them centered around the unique attributes of Activ One as a product, offering both health and health insurance features. The goal was to communicate that Activ One is the comprehensive solution for individuals seeking a one-stop solution for their health and health insurance needs. And create a memorable and engaging campaign that resonates with the audience, making Activ One stand out in their minds.”

Asked about choosing Massey for the campaign, Bathwal said, “Vikrant Massey has a relatable persona that resonates with diverse audiences, aligning seamlessly with ABHI's vision of providing accessible health insurance to customers from all backgrounds. His boy-next-door simplicity, and recent popularity due to ‘12th Fail’ was deemed an ideal fit. Over and above, Vikrant’s approachable personality and ability to connect with the masses made him a suitable choice to convey the key message.”

Speaking about the media mix for the campaign, Bathwal said that the budget is equally distributed in Television, OOH & Digital. Sharing details, he said, “A significant investment has been made in television, particularly for Filmfare Awards for its broad viewership and the opportunity to leverage the association with Vikrant Massey. Additionally, coverage on television news channels across regions ensures widespread exposure.”

A fraction of the budget is also invested in OTT platforms. For digital mediums, they are targeting YouTube, Meta, websites and influencers.

Purchasing insurance is often perceived as a task one need to do after turning 30 or when starting a family. However, nowadays, many young people are actively seeking self-health insurance, with a notable interest from Gen Z in understanding its benefits.

We asked Bathwal about this shift in perspective. He said, “The pandemic changed our perceptions and mindset about health, especially about our preparedness for any health-related emergencies. This holds especially true for millennials or Gen Z, as this generation typically have always been reluctant to buy health insurance. Their awareness stemmed from the fact that they view themselves as healthy and not necessarily in need of protection from medical expenses. However, the pandemic has changed this perception of being immune to sickness and related health risks. The second wave underlined this further; the Niti Ayog has estimated that 32% of patients during the second wave were below 30 years of age.”

Furthermore, he said, “This demographic, a significant untapped market, is crucial for the insurance industry. Their inclusion can make insurance more affordable for seniors through a cross-subsidy dynamic. Encouragingly, millennials constitute the largest wage-earning section of India's workforce, emphasizing the need for their participation in the insurance pool.” 

With the Tier 2 and Tier 3 cities becoming deep-pocket markets, we asked Bathwal about their efforts to capitalize on the same. He said that ABHI is making regional language creatives to tap on the regional audiences, collaborating with regional influencers to tap into established networks and communities in cities. “Our marketing efforts include content affinity targeting, allowing us to tailor our messages based on the preferences and interests of audiences in Tier 2, 3, and 4 towns. This personalized approach ensures that our content resonates effectively with the target demographic,” he explained.

Talking about their future strategy and marketing approach, Bathwal said that they will have an AI and Gen Ai-based content approach which will help them to learn consumer behaviours better.