‘Selling Trust, Not Just Insurance’

Q] What core consumer insight or shift in marketing strategy led to the evolution of the recent campaign ‘Chuniye Bharosa, Apno Sa’?
In this category, the single biggest thing consumers look for is trust. With our SBI brand, we believe we can own the entire platform of trust. And therefore, even in our corporate branding, the baseline and what we stand for is: ‘Suraksha Aur Bharosa Dono.’

Since insurance is a long-term commitment, trust sits at the heart of the proposition and becomes the single biggest driver of choice.

Q] Why was Pankaj Tripathi the right face for the campaign?
SBI is possibly the most powerful financial services brand in India. One in three people in India has an SBI bank account. As SBI General Insurance, we are very clear that we can leverage the trust our mother brand enjoys. Equally, if you look at our distribution, it spans digital consumers through our app and partners like Policybazaar; banking relationships with private and foreign banks; our mother bank, State Bank of India; and our agent network—which is one of the widest across the country. On a yearly basis, we acquire between three to four crore customers across all strata of society.

Naturally, we wanted someone who is accepted by a wide customer base. We believe that Pankaj Tripathi mirrors the values of a common man. He is liked by the youth and also, by affluent audiences. That’s why he is a good fit.

Q] Insurance often faces a perception gap, especially around claims and transparency. How has the campaign helped address this trust deficit?
We follow a two-fold marketing approach. One part is about emotionally connecting with the customer. It ensures that the customer stays with us over a 10, 15 or even 20-year period.
The second part is about communicating the functional benefits we provide. For instance, we have an 18,000-hospital network, one of the best claims settlement ratios, and pre-authorisation within 25 minutes versus the one-hour norm set by IRDAI. The campaign combines emotional connection with tangible benefits.

Q] Beyond awareness, what impact has the campaign delivered in terms of customer acquisition, engagement, or brand metrics? How are you measuring ROI on emotion-led advertising?
We measure brand performance on a quarterly to half-yearly basis across parameters such as awareness, consideration, preference and recommendation. Awareness and consideration are already high for us. What we aim to strengthen is preference and recommendation, driven by emotional affinity.

Preliminary results are encouraging. On social media alone, we have reached over 250 million people. Engagement rates are at 20 per cent, which is exceptionally high for a campaign like this. We are also receiving strong feedback from our sales teams, agents and customers.

Q] India’s insurance audience now spans Gen Z, cautious millennials and experienced policyholders. How are you adapting communication for such a diverse demographic?
For our diverse Indian customers, our communication has to be aspirational while remaining relevant across segments. While we run broad, mass-media campaigns, we also use digital platforms for highly targeted outreach, delivering contextual messages tailored to specific segments, product categories and languages.

Q] With digitally active users rising, how do you balance digital and traditional media spends?
In a brand campaign, lead-generation is not our goal. Strengthening brand metrics and building emotional connection is. For this, we still rely heavily on mass media. However, even within mass media, connected TV and platforms like YouTube allow us to deliver highly targeted campaigns.

Q] AI is transforming marketing. How is it reshaping your approach, and how is SBI General Insurance leveraging it?
AI works on two fronts for us—communication and operations, including claims management. Fundamentally, it enables scale, speed and contextual messaging. As we cater to three to four crore customers annually, our communication spans 16 languages. AI helps us tailor and adapt messaging quickly across these languages and customer segments.

For example, we have created AI-led variations featuring Pankaj Tripathi, customising communication for different product benefits and audience segments.

On the operational side, AI improves claims processing. For instance, in motor insurance, images uploaded after an accident are analysed by AI to verify authenticity. Genuine cases are then fast-tracked, improving turnaround time and customer experience.

Q] As OTT and performance marketing gain traction, how has your media strategy evolved to balance storytelling with measurable outcomes?
In a market like India, especially in BFSI, an omnichannel strategy is essential. Not all customers are digital, so we must cater to both physical and digital ecosystems. We distribute through multiple channels, including banks, aggregators, our own digital platforms, and a large agent network. A key part of our strategy is education—both for customers and our B2B partners.

Q] Are you witnessing a behavioural shift in smaller markets towards proactive insurance adoption?
Absolutely. Post-lockdown, smaller markets are exhibiting some of the highest growth rates. Digital access has levelled the information gap between metros and smaller towns. In fact, consumers in smaller towns often have more time to engage with content, which leads to higher awareness and aspiration.

This is visible across categories, including health, motor and travel insurance. Smaller towns are emerging as the country’s future growth engines.

Q] What lies ahead for SBI General Insurance in terms of marketing and growth?
The general insurance category is poised to grow faster than the overall economy. If the economy grows at 6 to 8 per cent, the category typically grows 50 to 70 per cent faster. Our goal is to outpace the category while being mindful of how we grow. We are focused on offering simple, accessible products for first-time buyers, ensuring competitive pricing, and clear communication of product benefits.

At the same time, we are investing in customer education, helping them understand how to make claims and maximise policy value.

PROFILE
Rathin Lahiri is Head, Marketing & CSR at SBI General Insurance, where he leads brand, corporate communications, PR and CSR, using marketing to drive business growth. He brings three decades of experience across financial services, consumer and consumer tech as a CMO, business head and seed investor. Prior to SBI General, he held leadership roles at Hindustan Unilever, United Spirits, DBS Bank, Kotak Life Insurance, Microsoft Corporation and eBay. His seed investments include WorkIndia and The New Shop. Lahiri holds degrees from the University of Mumbai and SP Jain Institute of Management Studies and Research, and has received multiple industry awards.

ABOUT THE BRAND
Backed by SBI, SBI General Insurance has built its position as one of India’s fastest-growing private general insurers. Since its establishment in 2009, the company has expanded from 17 branches in 2011 to 146 branches nationwide. In FY 2024-25, it reported Gross Written Premium of `14,140 crore, up 11.1% year-on-year. With a team of over 9,000 employees and a multi-distribution model spanning bancassurance, agency, OEM, broking, retail direct channels and digital partnerships, the company focuses on delivering Suraksha and Bharosa to consumers across the country.