About the company, understanding consumer behavior, questionnaire design, advertisement design, poster design, ad design, story line, DSF expansion plan

1. Aditya Birla Capital – Life Insurance
Submitted by:
Akanksha Gohil

2. About the company
 Founded on August 4th, 2000 and started operations on January 17th, 2001.
 It is a joint venture between Aditya Birla Group (ABG) and a leading insurance
firm from Canada- Sun Life Insurance in 51:49 ratios respectively.
425 branches
9
Bancassurance
partners
6 Distribution
Channel
83,000+ Agents
10,000+
Employees
16 Lakhs
Customer

3. Objectives:
1. Understanding the consumer behavior towards insurance.
2. Building story line for advertisement campaigns and creatives with respect to
Aditya Birla Capital.
3. Perform media planning (Radio, Television, Newspaper, YouTube).
4. Reviewing consumer perception about ABSLI on social media platforms like-
Facebook and Mouthshut.com.
5. Ideas for repositioning the brand Aditya Birla Capital
6. Building, circulating and analyzing questionnaire to understand the psyche of
consumer for insurance sector and bring out effective solution for the same

4. Marketing department in ABSLI:
 In insurance sector, the product is an insurance policy, they cannot be seen
nor touched, but they exist as a promise.
 To sell a promise is much more difficult task than to sell a product
 The marketing department segments the customer group and accordingly the
promotion strategy of a policy or product is determined.
 Also to judge the consumer behavior, we need to understand their psyche,
which can be done by market research.

5. Work Done During
Internship

6. Objective 1: Understanding the consumer behavior towards
insurance.
 Made a questionnaire containing relevant
questions
 Prepared a google form, and floated in to
friends and family members
 Total number of respondents were 123

7. Following were the questions:
1) Enter your name: ________
2) Enter your age: _________
3) Do you have a Life Insurance?
- Yes - No
4) If yes, in which sector do you have it?
- Private - Public
5) If not, then what is the reason of not having an insurance?
- I don’t believe in Insurance
- It’s a Fraud
- Unsatisfactory Returns
- No proper knowledge about Insurance
6) From which sector would you prefer if you don’t have insurance?
- Private -Public

8. Questions continued:
7) Which private investment company do u prefer?
- Aditya Birla Sunlife Insurance -Max BUPA Life Insurance
- Bajaj Allianz Life Insurance -Any other :___________
8) What is the reason of choosing this sector?
- Brand Name - Claim Settlement ratio
- Good return - Safety
9) Where did you come to know about Life Insurance?
- Insurance agent - Print Media
- Friends & Relatives - Electronic Media
10) What do u think is the purpose of your insurance?(Multiple)
- For investment - Money back policy
- For covering risk to life - For security to family
- For tax benefits - Any other

9. Questions continued:
11) Who among the following are insured in your family?(Multiple)
- Husband/Wife - Father
- Mother - Son/Daughter
- Brother/Sister
12) Are you aware about the insurance bonus of the policies?
- Yes - No
13) What is your approx. net worth (life time)?
- Less than 2 Cr. - Between 2-5 Cr
- Between 5-10 Cr - Between 10-15 Cr
- 15 Cr plus
14) What is your insurance cover?
_______________________

10. Insights:
 The major reason for not having a life insurance was state as ‘Lack of proper
knowledge’, therefore we need to come up with campaign that educates
customer about the benefits of having an insurance.
 People choose public sector insurance company as they feel their investment
will be safe with them.
 Many people think that the purpose of insurance is to safeguard the future of
their families in monetary terms. Thereafter, mostly people insure their
spouses.
Hence, while making any kind of advertisement or campaign we should keep the
above points in mind.

11. Results :-

12. Results :-

13. Results :-

14. Objective 2: Building story line for advertisement campaigns
and creatives with respect to Aditya Birla Capital
Work Done:
 Target Group- 30 years to 55 years
 Tension Line: Efficient after sales service
 Consumer Behavior-
o I should be given first priority and my queries should be resolved at the earliest.
o The company should give proper attention regularly.
o Long lasting relationship with the company.
Story Line- A few young fathers who are sitting together in a party are discussing
how they can secure their family’s future. They were discussing about the increasing
inflation, rising diseases and uncertainty and say that “AAJ KE ZAMANE ME EK LIFE
INSURANCE SE KUCH NAHI HOGA”, on that note the main lead (hero) says “HAA, ISII
LIYE TO MENE ABSLI KA INCOME SHIELD PLAN BHI LE LIYA, TAAKI MERI FAMILY AAJ JIS
SUKH SE JEE RAHI HAI, KAL BHI VESE HI JEEYE”.
Rest all are stunned and asks him how he got to know about this plan, the main lead
says “ABSLI MUJHE TIME TO TIME MERE EXISTING POLICY KE BARE ME UPDATED DETA
HAI, AUR USI SAMAY MUJHE YE DUSRI POLICY KE BARE ME BATAYA GAYA, SAHI BAAT
HAI BIRLA APNA DHYAN RAKHTA HAI, BIRLA KA VISHWAS HAI”.

15. Objective 2: Building story line for advertisement campaigns
and creatives with respect to Aditya Birla Capital
Work Done:
 Target Group- 30 years to 55 years
 Tension Line: Realising customer about the need of insurance
 Consumer Behavior-
A happy family does not worry much about UNCERTANITY i.ie, they are not much
inclined towards securing their families via insurance, whereas, people who have
suffered from an emotional setback (lost husband, wife, son, parent or are
separated from their spouse etc.) are more vigilant towards insurance protection.

16. Story Line- Two mothers (friends) are going to drop their children to the school, one of
them is a single parent and the other one is happily married. The single parent women
tells the other women saying that she has secured her child’s future by taking ABSLI
Digishield plan, because today his father is not present, may be tomorrow she herself
may also not be present, but the child will have a secured future, where he can
complete his education and live a good life.
By listening to this, the happily married women realises the mistake they have done by
not taking any insurance, as uncertainty can strike to their happy life too.
This advertisement will end with the happily married women deciding to take ABSLI
insurance at the earliest.

17. Objective 2: Building story line for advertisement campaigns
Work Done:
For MILTON TIFFINS
 Target Group- 22 years to 40 years
 Tension Line: Leak proof and strong tiffin
 Consumer Behavior- Product (Tiffin and bottles) bought should be strong and
long lasting
Story Line- Two girls are travelling in a rickshaw to their work place, they
encounter two men travelling on a bike alongside. Suddenly those men started
whistling upon them, as a response to which the girls ask the driver to stop the
rickshaw, they get out of the rickshaw and smack those men with their Milton
tiffin. The men got injured but nothing happened to the tiffin!
The girls clean their tiffin and get back on the rickshaw to go to their office.

18. Objective 3: Media Planning - Radio:
 Media Planning (Radio) done for Delhi region - Radio Mirchi
PLAN NAME PRICE (in INR)
Jingle 285 INR (per sec)
RJ Mention (30-45 sec) 8000 INR (per mention)
Sponsorship tags 2400 INR (per mention)
Time Check (5 sec) 3600 INR (per mention)
Road Block 800,000 INR (per hour)

19. Objective 4: Checking out www.facebook.com and
www.mouthshut.com for reviews about ABSLI
a) Deduction of premium before the designated date.
b) Poor customer service.
c) Information of customers are not updated on time on their online portal.
While constructing an ad campaign we need to focus on the following pointers: -
a) Showcasing the trust people have on Aditya Birla Sun Life Insurance brand.
b) Customer relationship management.
c) Effective and better after sales service.
Problems
Solutions

20. Objective 5 : Ideas for repositioning the brand Aditya
Birla Capital
1) A poster containing a picture of Family (father, mother, son and daughter-in-
law, standing together) behind them Aditya Birla logo is present. As Aditya Birla
Capital consist for four major branches- Advising, Protection, Financing and
Investing, these four member will also depict the same, such as:
This will portray ABSLI as a family-brand:-
Father -Advising
Mother -Protection
Son - Financing
Daughter-in-law – Investment
1) ABSLI consist of plans for each member of the family
2) It’s a family tradition/legacy to buy insurance plans from ABSLI – Trust Factor

21. Objective 5 : Ideas for repositioning the brand
Aditya Birla Capital
2) A poster or a social media post showcasing four seasons of India-
- Spring
- Summer
- Rainy
- Winters
The poster will be comparing the four seasons of India with the four major
branches of Aditya Birla Capital
Financing- Spring Season Protection- Rainy Season
Investing- Summers Season Advising- Winter Season

22. Objective 6: Survey to find out consumer behavior
towards becoming an insurance agent – acquiring new
insurance agents
 Prepared a questionnaire containing relevant
questions
 Prepared a google form, and floated in to
friends and family members
 Total number of respondents were 136

23. Following were the questions:
1. Name : _______________
2. Age
(a)25-30 (b)31-35 (c)36-40 (d)41-45 (e)46-50 (f)50+
3. Gender
(a)Male (b)Female
4. Profession (your profession/ Housewife/ Not working/ Retired etc) ____________
5. Do you like to socialize?
(a)Yes (b) No
6. Are you interested in earning extra source of income?
(a)Yes (b) No

24. Questions continued:
7. Do you want to become an adviser for insurance company?
(a)Yes (b) No
8. If yes, how many days do you want to go to office in a week?
a)1 (b)2 (c)3 (d)4 (e)5 (f)6 (g)7
9. If yes, how many hours would you like to work as an adviser in a regular day? Mark
only one oval.
(a)less than 3 hours (b)3-5 hours (c)5-8 hours (d)more than 8 hours
10. If YES, what is the motivating factor which drives you to become an agent?
(a) primary income source (b)extra income source (c)networking
11. If Yes, what kind of work culture do you expect as an adviser?(what are your
expectations from company) _________________________

25. Questions continued:
12. If YES, which company would you like to work for
(a)ICICI Prudential Life Insurance (b) HDFC Life Insurance
(c) Aditya Birla Sun Life Insurance (d) Max Life Insurance (e)Others
13. What is the reason of choosing this brand ( if you answered the above question)
________________
14. Are you aware of possible income one can earn in this field?
(a)Yes (b)No

26. Insights:
 People who are interested to become agents are majorly housewives and retired
person.
And both these customer segments- housewives and retired people hold great
potential to be come an agent, as the work of an agent or advisor does not
require to be at office fulltime and also the working hours are flexible.
The most important thing of all is that this business runs on word-of-mouth,
the housewives and retired persons generally tend to have bigger social
circle, therefore the word-of-mouth can be spreaded by them easily and
quickly.
 Also the major competitor for ABSLI (by consumer perception) is HDFC Life
Insurance(36.5%) and ICICI Prudential Life Insurance (19.2%)
Therefore, we need to come up with a communication, which can distinguish us
from them.
 By informing them about the possible income one can earn – many of them were
delighted, surprised and motivated to become an agent.

27. Results :-

28. Results :-

29. Thank You!