Vikrant Massey's persona resonates with diverse audiences: Mayank Bathwal, ABHICL

The Banking, Financial Services, and Insurance (BFSI) sector has gained momentum post-COVID with people taking health seriously and investing in health-security-related assets. Given this renewed interest in the sector, marketing efforts of BFSI brands have also seen a marked rise. 

Aditya Birla Health Insurance Co. Ltd (ABHICL) recently launched a video campaign for the newly launched product Activ One featuring actor Vikrant Massey. e4m caught up with Mayank Bathwal, CEO, ABHICL, on the nuances of the campaign and the BFSI sector. 

Dentsu Creative India conceptualized the campaign, so we asked Bathwal about the objective and the brief given to the creative partners. He said that it was centred on 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 a 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.”

When asked about choosing Massey for the campaign, Bathwal said, that the actor cut through the audience dynamics and has a relatable persona. He said, “We chose Vikrant Massey for his 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.”

Bathwal said that the budget is equally divided among Television, OOH & Digital. “A significant investment has been made in television, particularly during the Filmfare awards for its broad viewership and the opportunity to leverage the association with Massey, the campaign face. 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, some websites, some influencers, etc. 

Purchasing insurance is often perceived as something to do after turning 30 or when starting a family. However, nowadays, many young people are actively seeking self-health insurance.

We inquired with 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 estimated that 32% of patients were below 30 years of age during the second wave.”

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.” 

We asked Bathwal about their efforts to capitalize on Tier 2 and Tier 3 cities' deep pocket markets. He said that ABHI has been making regional language creatives to tap into the regional audiences and collaborating with regional influencers, helping them to establish a stronger connection with local audiences. He also said, “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.”

Talking about the future and their marketing approach, Bathwal gave a sneak peek into their marketing strategy. He said that they will have an AI and Gen Ai-based content approach which will help them to learn consumer behaviours better; New-age Creatives including the usage of CGI, anamorphic, and 3D creatives introducing a fresh and visually captivating dimension to the campaigns; Programmating targeting; Hyper-personalization amongst some.