As India’s life insurance industry continues to contend with low penetration and evolving consumer expectations, SBI Life Insurance is sharpening its focus on protection, future financial planning and purpose-led brand communication. The insurer’s latest campaign reflects a broader effort to make insurance conversations more relatable and relevant, particularly for younger cohorts entering the category.
As part of this approach, SBI Life has onboarded cricketers Rishabh Pant and Ravindra Jadeja as its first-ever brand ambassadors.
Speaking on the company’s brand and business direction, Amit Jhingran, Managing Director and CEO, SBI Life Insurance, said the long-term nature of insurance requires credibility-led communication rather than high-decibel visibility, especially in an environment crowded with endorsements and sports-led advertising.
According to Jhingran, SBI Life’s approach has been to avoid leaning on celebrity salience alone and instead embed relatability and reassurance within the communication. “We have brought in well-known faces, but we are not using their celebrity status as such. They are being presented as characters that people can relate to in a familiar, everyday manner,” he said.
The insurer’s current campaign introduces fictional characters ‘Jolly’ and ‘Polly’, designed to reflect the internal conversations individuals and families often have when balancing personal aspirations with financial responsibility. Anchored in SBI Life’s brand philosophy, the narrative positions life insurance as a facilitator of ambition rather than a trade-off against it.
Beyond communication, SBI Life’s strategic priorities are being shaped by demographic shifts in the insurance buyer base. With millennials and Gen Z increasingly entering the category, the company is strengthening its product offerings to align with their financial behaviour and life stages.
Jhingran said aspiration levels and planning horizons for younger consumers differ significantly from earlier cohorts. “They want to start early, but they also seek affordability and flexibility. We are strengthening our protection portfolio with more accessible and cost-effective products that can be taken at the beginning of one’s career,” he said.
He added that the insurer is also placing emphasis on future financial planning through its non-participating guaranteed products. “Protection continues to be a key focus area, alongside guaranteed products that support long-term planning for future life events,” Jhingran noted.
From a marketing execution standpoint, SBI Life is also reworking how it deploys media to support storytelling and reach. Ravindra Sharma, Chief – Brand, Corporate Communication and CSR, SBI Life Insurance, said the latest campaign marks a departure from traditional online-offline silos.
“The strategy is audio-visual first. We want people to see the narrative and feel it,” Sharma said, explaining that visual storytelling was prioritised to establish familiarity with the characters and the broader message.
For the campaign, the media strategy is audio-visual led, with around 60–65 percent of the mix skewed towards offline channels and the remaining 30–35 percent towards online platforms. Beyond the current campaign, Sharma said SBI Life follows a balanced media approach to connect with the audiences it is targeting.
The insurer is currently focusing on consumers in the 22–40 age bracket, which it believes will drive category growth over the coming years. “This is the audience that will grow in terms of income and purchasing power,” Sharma said.
While digital consumption is rising, Sharma noted that television continues to play a significant role, particularly for reaching India’s large middle segment. “Alpha India is still a small percentage. India 2 is the largest segment, and that is where a mix of offline and online media becomes important,” he said.
On the allocation between brand-building and performance marketing, Sharma said the two cannot be viewed in isolation. “Branding is about entering the consideration set. Once the consumer is there, performance marketing supports conversion. Awareness, consideration and performance are closely linked,” he said.
In a category where product differentiation is often limited, SBI Life sees reach and belief as its strongest brand levers. “Trust today is almost a hygiene factor. Belief is what drives choice,” Sharma said.
He revealed a gradual shift towards purpose-driven marketing within the organisation. “The brand purpose is not just a statement. Every initiative needs to be meaningful for the consumer and show relevance in their lives,” he said.
On the role of technology, Sharma said artificial intelligence is being used across servicing, marketing and communication functions, though its impact is still evolving. “AI has delivered results in certain areas, and there are elements being used in the current campaign as well,” he said.
Looking ahead, SBI Life’s marketing efforts will focus on building continuity and long-term familiarity rather than short-term visibility spikes. According to Sharma, establishing consistent storytelling will be key to expanding the category’s relevance across India.
“If we are able to build narratives that resonate deeply and reach wider audiences, it helps not just the brand but also shows how insurance can play a meaningful role in everyday life,” he concluded.