To study and analyze the current external communication of all the players in the life insurance sector in India and narrow it down to one and provide repositioning ideas for Sahara India Life Insurance.
JFM means January, February and March window, which is a very important period in insurance sector as more than 50% of business for the insurance plans comes during this time and also the maximum advertising is done during this phase only as it is a tax free window and saves a lot of money for the customers as they are exempted tax during this time.
ICICI Prudential and Bajaj Allianz are most aggressive and direct during this period.
Relatively new in the market, Sahara India Life needs to establish themselves, hence, Brand Promotion.
While some private players focus on the higher strata of society in metros, Sahara Life Insurance hopes to address the common man in its communication and the confidence and fearlessness that insurance brings with it.
The most important thing for an Indian is to provide good education to his children, also since India is one of the most learned country with more and more people going for higher education.
The Target Audience is all the more concerned about their child’s education as they want their child to become all that they could not and for that they want to provide them with the best education possible.
Since the positioning is new and communication is aggressive a single idea needs to be communicated via all mediums for maximum impact.
The idea is to encourage people to help orphan children by teaching them, helping them by providing them books and other necessities. It denotes the fact that even for a common man, they have Sahara life to help their children in future to progress and study better with their child plans but orphans don’t have any such comfort so for that everyone needs to lend a helping hand. (Buddy System)
We will roll out with a single TVC to introduce the new positioning and to increase awareness. The TVC would show a parent taking tension over his child’s further studies, when a Sahara life’s executive comes and tells him about their child plans and suggests that your child’s responsibility is now on us, you should consider helping someone else too.(your buddy)
Followed by aggressive OOH with hoardings that would urge people to go in for the “Buddy system”.
We would be having road shows and other kiosks at fund raiser events where we would educate people of the Buddy system and about our child plans as to how it is beneficial and at the same time satisfying.
For Direct Marketing :
We would have our Insurance executives going over to households and educating them about the importance of child plans for their children’s future.
Talk Points for the executive when he/she goes to sell child plans:
The best investment is one which yields highest and regular returns and no one can do that but your children, you can invest in their education once to reap lifelong benefits, guaranteed.
Gives you a fixed amount at regular intervals of time during the time of your children’s education, so you don’t have to arrange a lump sum for his/her education.
Even in case of eventuality, the child’s aspirations in that same direction would not be hampered.
You would not want your retirement and your child’s higher education to hit you together without any proper planning.
Let your child determine his worth, not the tuition fee.
School is the only place that takes fees monthly. Graduation and Post-Graduation colleges don’t.
We would promote the Buddy System through the social networking sites like facebook, orkut, etc as well wherein people can help out an orphan who will then become their Buddy and they can upload their videos and pics on their profile saying that he/she is their buddy and ask for people to join in to help their buddy or get a buddy of their own.
We would have a website where we would feature everyone who has buddies and how well they are doing for them.
We will also have a user interaction link where people can discuss various ways and means by which they can help the kids.