Insights

• Attitudes and experiences with home, motor and health insurance
• Emotional triggers that will make the consumer connect with the
brand and the products
• Thoughts, Behavior, Perceptions of Digital channel (Mobile
usage, Internet, Online purchase/ transaction, etc.)
• Reflections on the using telematics with vehicle insurance and buying it
as a bundled product online
To Understand
6

STAKEHOLDER VIEWS
8
The Hopes The Fears
What if management comes under
number pressure like others?
Investment management is looking
at regulatory hiccups for the fear of
being easily copied by others
Will we be able to attract
consumers through our digital
interface
Customer should not get confused
with a lot of options
Will the costumer understand the
digital products with trust and
purchase our products online
Lack of education and awareness,
company may not be able to reach
the last mile
Non traditional method of business
and not tested in India. SO fear of
failure
What if not successful and will
volume come
Digital is a new arena in Insurance,
so lots of possibilities in cost
effective, quality business
Providing early return on
investments, growing profitability in
a lesser time frame
To make our products digital
To acquire business through digital
interfaces/models
Make a product with customizable
so that customer can buy as per
his need/purchase power
Digital is clear differentiator & can
put organization ahead of
competition
Giving industry a new way of doing
business, leading to penetration to
unexplored masses
Clear thought process:why?
Cohesiveness in the team: sharing
of though and idea
Customer Satisfaction
Increase in Health insured
population
To protect & secure the poor
section of the society from financial
risk by insuring them

USER SEGMENTS
36 participants
across 4 locations
16
digital
millennials
14
digital
immigrants
6
digital late
bloomers
• DINK *
• Young Achiever
• SCNF* (NuclearFamily)
• DWIK* (Joint family)
DINK – Double Income with no kids
SCNF – Single Child Nuclear Family
DWIK (Joint family) – Double income with kids
9

• “Mera saara kaam mobile
se hota hain.
• The first thing when I get up
is look at FB or WhatsApp
messages!”
• “Internet gives me choice to
do things at my own
convenience.”
• “ LinkedIn is for educated
people”
• “I’ll use internet to seek
information, but will not buy
anything as I have bad
experiences”
• “I use Pinterest to follow
people for my health”
• “Paying premium based on the
distance driven, is really a great
idea and I really like it. When will it
be launched?”
• “I’m a bit worried if this tracks me,
since I’m a girl”
• “Who are you to tell me how I drive”
• “If I have the control on the data that is
shared then this is a good concept (i.e.
PHYD)!”
• “Insurance agencies will have more
reasons to deny my claim”
• “If this (PHYD) connects
RTO, Cops, Insurance
org., vehicle owner, then
entire society gains!”
• “This is not Singapore”
digital millennials
digital immigrants
digital late bloomers
WHAT THEY SAID - METRO
• “I want to gift my parents a
insurance on 25th
anniversary“
• “Insurance is a must. Age is
catching up, so now we
have to start thinking of
both our kids and also our
elderly parents”
• “ My got my specs free “
• “There is too much of terms
and conditions and uses
technical jargons.
• Tell what is not covered,
gives clarity!”
• “Offer time me shopping
karna to banta hai “
• “Paytm does not have call
center”
• “In my busy schedule, I do
most of my buying and
transact online. It’s much
safe now”
• “I prefer COD, try karna
hota hai before I accept ”
• “Jitna zyada personal
information online daalthe
hon, utna zyada hack hone
ka chances hain!”
• “My bank is just outside my
house so I prefer walking
down”
DIGITAL COMFORT ONLINE BUYING INSURANCE AGENT TELEMATICS
• “I will buy a vehicle within 6
months and will invest in a
apartment in next 2 to 3
years”
• “ Mere pas choti gadi hai“
• “We are planning to invest in a
retirement home, which is
close to Mumbai.”
• “Too much stress life and
want to relax a bit in life”
• “Need to take care my health
so that I can take care of my
loved ones and their health
too”
• “Delhi has no future.”
ASPIRATIONS INSURANCE
• “Agent is required for me to
discuss the details and
more importantly to do the
errands.”
• “Policy bazaar called me
and helped me with the
buying process”
• “We feel that agents are
always trying to sell the
policy for their commission.”
• I am fine with digital , just
opened my account with
RBS through chat“
• “I have a long term
relationship with agent. He
does everything for me and
I don’t have to worry at all!”
10

• “My family has taught me
paying bills like a life skill.
So I know how to do both”
• En mobile la 85 apps
irukku!!!
• Sab kuch online se hota
hai… ola, ubder,
bookmyshow jaise…
• “Photos, contacts ennoda
thanipatta thagavalgalai
kekra apps enaku pidikathu”
• “agar aapko sar me dard
hoga to kya aap Google
karke dawai manga loge?
• “Enkita irukkra smartphone
ennoda brother kuduthathu,
nan orupotum athai
virumpavillai”
• “har aadmi chahta hai ki vo paisa
bachaye”
• “Nalla karuthu marrum athai online
la vangrathu enaku entha
prachanayum illa.”
• “2nd waale option bhi thik hai, magar
extra pay karna pade to nahi jayenge”
• “PAYD mobile plan mathiri than. Nan
details nera parkka virumpuren apram
online la vankurathuku nalla irukkum”
• “iitne features hain to le
lena chahiye”
• “ Enaku athu sariyaga
padavillai.”
• “Humko Paise Bachana
Bahut pasand hai. ”
• ”Enaku etavathu natanthal
en nominees ah parthukolla
yaravathu irukkanganu nan
unaraum”
• Brand ka bahut bada fark
padta hai…kisi nai
company ke saath deal
karne me hichkichaat hogi”
• “Nan insurance pathi
customer kita pesina
avanga nan oru agent nu
avanga nenachukuvanga”
• “Premium dene se pehle
saari information clear honi
chahiye”
• “En colleague oda appa oru
agent. Avar ithai
recommend panninar”
• “I don’t always decide on
other people’s opinion.
When I hear of something I
validate it online.”
• Nan offers deals sariparpen.
aparam feedback ratings
kudupen
• “payment credit card ya
debit card ya COD…jaise
mahol aur sahuliyat waise.”
• “Pay panrathuku queue la
nikkirathu enaku pidikathu.
neram neraya selavaguthu”
• Mere hisaab to theek hi hai.
But risky hai thora sa. Risky
aise hai ki website pe
password save ho jaata hai.”
• “Nam vankuvatarku mun,
thottu, uṇara maṟṟum pārkka
vēṇṭum”
DIGITAL COMFORT ONLINE BUYING INSURANCE AGENT TELEMATICS
• “Khush rehna bahut zaroori
hai to voh karte hain”
• “Erandu varusathula benz
vanganum. Palaso pudhuso
ethunalum sari!”
• “Kuch makaam lele… kuch
gaadi lele…. Koi insurance
lele… bacche ka education
hai…
• “Nan oru pannai veedu
vanganum. Ennoda budget
perusu”
• “Khud ka ghar kharidne ka
soch rahe hai.. Abhi hum
hamare parents ke ghar me
rehte hai
• “Nan oru putiya niruvanattil
serntullen, itu oru periya
niruvanamaka valara ventum”
ASPIRATIONS INSURANCE
• “I pay 50 K for all
premiums, if I can get all
the insurance under one
head, I don’t mind he
taking 5K per month.”
• “Avanga online ah vida
thanipatta thodarbu irukku.
kadaishi nimita kelvikaluku
pathilalika mudiyum”
• “who hamare pehchaan ke
hai…. Baat karne ke baad
bhi unse na le to accha nahi
lagta”
• “Enaku car service kaga
varum tele calls pudikathu.
oru thadava remind pannina
nallathu.
• “Isme fayeda nuksan kya
hai? Company change
karne se bhi koi loss nahi
hai!”
• “Ithu WIN WIN nilai. Agent
ku commision kidaikuthu.
Engaluku velai mudiyuthu”
11
WHAT THEY SAID – NON METRO
digital millennials
digital immigrants

OUR UNDERSTANDING
12
across segments
• Online Behavior
• Consumers are ready for ‘Try-and-Buy’. I.e. Experience first, then pay
• Insurance
• Transparency, Clarity and Quick Response, is viewed as the top three factors for an ideal Insurance
provider.
• Consumers are ready to go for online insurance, if they get the same experience as that of an agent
• Health Insurance
• Health is the most important aspect of life
• Vehicle Insurance
• Consumers moved to a different insurance provider after their 1st/2nd renewal for better benefits
• Agent
• Is a “Go-to Person” (Handy-man) to get things completed
• Is a ”neck-to-catch” in case of adverse situations
• Telematics
• Pay As You Drive was considered to be a great concept and was easily accepted.
• However, has apprehensions about the ‘Pay How You Drive’, because of data sharing

OUR UNDERSTANDING
13
• Are focused on health, asset
building
• Are on the fence for digital
transaction
• Are a secondary segment
as this is an agent driven channel
digital immigrants
• Are internet information
seekers
• Are value seekers
• Are open to an ecosystem
led acquisition process
• Are open to higher
premium as long as the cover
is good
• Are comfortable with
digital experience and
open to agent experience,
provided agents don’t push
products
digital millennials
• Internet is a part of their life
• Need a one stop solution
for all my financial needs. Loan
(car and home), insurance (health,
car, etc.)
• Need an agent to do the
errands and make it hassle-
free
• Parents are one of the biggest
influencers
• Millennials are more mobile
driven and deal seekers

15
Insurance
• Life Stage – Health is ‘not a concern’
• Immediate goal – More of tangible (house / vehicle)
• Knowledge/awareness – Has very less / none
• Influencers – Parents, friends, agents and online
• Brand trust– In which parents or friends have policies
Agent
• Q&A - Give detailed clarifications, pros & cons, etc.
• Hassle Free – Handyman to do the errands
• Go-to person – Solve problems
Online
• Information – Clear, transparent and concise
• Process – Simple, easy and hassle free
• Support – Personal, detailed and reliable
• Experience – Same / better than agent
Not 100% Digital yet!
Need both Online and Agent channelsfor now
my AHA moment! – Millennials Why?
It’s about convenience
Agents will clearly explain the details of the
policy. It’s easier to ask questions and get
answers directly when someone is front of
you
“ “
The agent is required to do the errands.
Especially the paper works during the
buying and claims process.
“ “
Rony

16
• Consumers were looking to hack telematics
device which will lead them to a lower
premium.
• Asking agent to back date policy so that
they can reactivate lapsed policy
Why?
It’s about ‘Jugaad’
my AHA moment! – Immigrants
“
“
What if we remove the device and keep
it at home.
“ “
Agent helps me to back date my policy
incase my policy will expire and want to
renew.
Telematics
Agent
Skepticism
Jugaad – the way out
Mustafa

17
Insurance
• Top ups and customization – adding special local epidemic
like “dengue”
• The service ecosystem – ambulance service
• Bundle offers – free checkups, chemist coupons …
• Trust on brand ecosystem
• Co branded comfort – Apollo (hospital) Munich
Agent
• Offers discounts and hacks
Online
• Personalization – custom made for my needs
• Offer seasons and notifications
• Pamper - greetings, tie-ups - discounts and offer
• Constant communication
• Cashback
I get free checkup, coupons for buying
medicines and even spectacles . I haven’t
head of companies giving such offers .”
“ “
my AHA moment!
Millennials and Immigrants
Why?
It’s about the complete
customized solution and offers
It’s more than just
insurance!
Hum har sall itna premium deten hai ,
but benefits kya marne ya accident
hone pe hi milengi …beech me bhi kuch
de saketen hai na
“ “
I have never claimed but I go for the
free family checkups at Max.
“ “
Nimesh

18
Insurance
• There are many types of insurance available and viable for me. I
have a hard time deciding the company I should go for. Once I
decide I’m Ok with buying all insurances from that company.
Reduces my worry load.
• I want the multiple calls from various insurance providers to
stop. Reduces my spam load.
• I also want to get all my queries answered in one go from one
source so that I don’t have to go from Pillar to Post trying to get
answers. Its difficult to ask questions from strangers.
Why?
Cognitive Load
I wish all my insurances could get
clubbed under a single umbrella, so that
I don’t have to remember to pay 4-5
different insurance companies at 4-5
different times.
One single company I could rely on for
all insurance needs. A single number to
call. A single agent or relationship
manager.
“
“
One Stop Shop
Pressed for time. Looking for Consolidation.
my AHA moment! – All Segments
Ekta

19
Why?
Consolidation
If the whole payment can be turned into
EMI’s it will become affordable.
I will also be able to afford a more
involved policy.
“
“
Single Payment Window
Make it affordable for me.
my AHA moment! – All Segments
Ekta
Insurance
• Instead of paying 3-4 times a year, a bulk sum that will put me
back especially at the end of the year, if I can have an option
which I can pay through equated monthly installments, that will
really help me.
• Renewal will happen once and can be a hassle free process for
me.

20
Insurance
• Life Stage – Health is considered ‘most important’. Secured self
and Family members with an array of LI and HI policies
• Immediate goal – Intends to own a bigger house/ farm house
• Knowledge/ awareness – Has adequate knowledge
• Influencers – Friends who are also CA’s or Advisors, Agents and
online
• Brand trust– Which are recommended by Advisors and those who
have good ratings/ transparent information online
Agent
• Q&A – Good Information source, but same information is verified
online, signifying less trust
• Hassle Free – Handyman to do the errands during emergency
• Go-to person – Solve problems
Online
• Information – Clear, transparent and concise
• Process – Simple, easy and hassle free
• Support – Personal, detailed and reliable
• Experience – Same / better than agent
Researches Online, but buys from
Agent!
Online is to verify information given by Agent!
my AHA moment! – DIWK (Joint Family) Why?
It’s about convenience
Agent is important, trusted, but even the
information given by him is verified with
friends, peers and online. At the time of
claim, Agent will take care of everything
“ “
Swapnil
Agent sometimes hides information,
thus we have less trust on Agent. Have
more Trust on Online, as all the
information is there and one should just
find it
“ “

22
MATURITY MEASUREMENT MODEL
Online Maturity:
Awareness:
• Is aware of the power of being connected
Practice:
• Uses the internet to support his life
Purchase:
• Transacts online quite regularly.Both
shopping & banking.
• Has no qualms with online payment
Insurance Maturity:
Awareness:
• Is educated about insurance.
• Has no myths on Insurance use or benefits
Practice:
• Has bought insurance for the entire family
• Plays an active role in choosing insurance
provider
Purchase:
• Has bought or renewed insurance online

23
Insurance
Maturity
Digital
Maturity
3
2
1
-1
-2
-3
-3 -2 -1 1 2 3
Nikita
Jayprakash Yadav
Renu Dheeman
& Dheeman
Manish
Godrej
Nitin
Srivastava
Rahul &
Laxmi Bajaj
Hina
Pathak
Ketan &
Kajal
Mody
Manish Kalro
Taslim Arif
Lalit &
Mahek
Sawnani
Amir Adam
Mohammad
Jharna
Ahuja
Dharmraj
Jaiswal
/Aarti
Jaiswal
Manoj
Malkani/
Kiran
Malkani
Amit
Jain
Kavita
Sharma w/o
Sanjay
Sharma
Sumit
Sachdeva
h/o Sapna
Sachdeva
Anish
Baweja
Neha Chaddha
Manvika Behl
/Rahul Behl
Akansha William w/o
Methew William
Vivek
Lakhanpal
Abhishek
Sandeep
& Sujata
Sugumaran
Gopi/prema
Ashik
Saravanan
Azhar
Soundarajan
Lucknow
Mumbai
Delhi
Coimbatore
Manish Rai Jadhav
Prasad Pandit
Kirubakaran

26
Manish Rai Jadhav
Prasad Pandit
Kirubakaran
Insurance
Maturity
Online Maturity
2
1
-1
-2
-3
-3 -2 -1 1 2 3
Nikita
Jayprakash Yadav
Renu Dheeman
& Dheeman
Manish
Godrej
Nitin
Srivastava
Rahul &
Laxmi Bajaj
Hina
Pathak
Ketan &
Kajal
Mody
Manish Kalro
Taslim Arif
Lalit &
Mahek
Sawnani
Amir Adam
Mohammad
Jharna
Ahuja
Dharmraj
Jaiswal
/Aarti
Jaiswal
Manoj
Malkani/
Kiran
Malkani
Amit
Jain
Kavita
Sharma w/o
Sanjay
Sharma
Sumit
Sachdeva
h/o Sapna
Sachdeva
Anish
Baweja
Neha Chaddha
Manvika Behl
/Rahul Behl
Akansha William w/o
Methew William
Vivek
Lakhanpal
Abhishek
Sandeep
& Sujata
Sugumaran
Gopi/prema
Ashik
Saravanan
Azhar
Soundarajan
Lucknow
Mumbai
Delhi
Coimbatore
The Pioneers
Insurance Maturity
-Know the insurance purchase parameters and claim process clearly
- Have coverage for entire family, even parents
- Has purchased or renewed online
- Has no myths about insurance
- Mistrusts the agent
Online Maturity
- Uses the internet for knowledge seeking
- Uses mature tools like Zomato, Swiggy,Bank Apps etc.
- Transacts regularly online on banking & shopping.
- Uses COD in exceptional cases.

Goals & Motivations
• To grow his softwareboutique into a full fledged enterprise
• To ensure a secure & healthy life for his family
• To ensure that he distributes his time & attention fairly amongst
his family, social & professional life.
Pain Points
• Deep mistrust of agents as a community. Here today, gone
tomorrow.
• But agent is the default choice because of recommendations
from business colleagues & family.
• After the second premium is due, he researches and renews
online. This is the time when he is susceptible to switching.
Personality
Insurance Awareness
Agent’s Perception
Future Vision
Digital Insurance Comfort
“My life motto is to do my best so that I
can’t blame myself for anything”
Persona
Manish Vij
35 years
Occupation
Software Engineer(Own Business)
Location
Mumbai
The Pioneer
(Digital Immigrant)
Insurance Triggers
Agent’s Recommendation
Internet Research
Illness in Friends and Family
Self-Illness
Friends and Family’s Recommendation
• Lack of time & availability to spend on health initiatives for
himself & family
• Unauthorized calls & SMS
• Ads that don’t walk the talk.
Insurance Buying Behavior
Financial Maturity

“My life motto is to do my best so that I
can’t blame myself for anything”
Persona
Manish Vij
35 years
Occupation
Software Engineer(Own Business)
Location
Mumbai
Digital Comfort
Gadgets
Payments
Online
• He grows his network and keeps in contact with his colleagues and friends through social media
• Explores various apps that enables certain activities at his fingertips. For e.g.. Booking tickets, ordering
food
• Trusts online market places and regularly shops online with his family
• Trusts online insurance aggregator sites and tallies them to the claims made by the agent
• Invests in different gadgets for easy communication with his family and colleagues
• Uses a smart phone for on the go jobs and laptop for all official work and transactions
• Bought a tablet for his family and does online shopping on it with his wife
• Invested in Fitbit, does not understand how to use it so that he can derive benefit from it.
• Trusts online transactions unquestionably and prefers banking on all channels
• Uses COD for experimental buys
The Pioneer
(Digital Immigrant)

30
Manish Rai Jadhav
Prasad Pandit
Kirubakaran
Insurance
Maturity
Online Maturity
2
1
-1
-2
-3
-3 -2 -1 1 2 3
Nikita
Jayprakash Yadav
Renu Dheeman
& Dheeman
Manish
Godrej
Nitin
Srivastava
Rahul &
Laxmi Bajaj
Hina
Pathak
Ketan &
Kajal
Mody
Manish Kalro
Taslim Arif
Lalit &
Mahek
Sawnani
Amir Adam
Mohammad
Jharna
Ahuja
Dharmraj
Jaiswal
/Aarti
Jaiswal
Manoj
Malkani/
Kiran
Malkani
Amit
Jain
Kavita
Sharma w/o
Sanjay
Sharma
Sumit
Sachdeva
h/o Sapna
Sachdeva
Anish
Baweja
Neha Chaddha
Manvika Behl
/Rahul Behl
Akansha William w/o
Methew William
Vivek
Lakhanpal
Abhishek
Sandeep
& Sujata
Sugumaran
Gopi/prema
Ashik
Saravanan
Azhar
Soundarajan
Lucknow
Mumbai
Delhi
Coimbatore
The Convert-ables
Insurance Maturity
-Understand the need for insurance
- Have insurance cover for entire family, sometimes parents also if
applicable
- Have bought from agent and regularly interact with agent as a part of the
community
- Thinkagent will help in claims, expects discounts to come fromthe
agents pocket
Online Maturity
- Uses trsnactional tools like Zomato, Swiggy, etc.
- Transacts regularly online on banking & shopping.
- Uses COD to try and buy, hedge delivery risk regularly

“Need to take care my health so that I
can take care of my loved ones and their
health too”
Persona
Nidhi
23 years
Occupation
Human Resources
Location
Delhi
Convert-ables
(Digital Millennials)
Goals & Motivations
• Aspire to live an opulent life
• To be socially connected and increase their networking among
resourceful people
• To be financially independent and take responsibility for her
own decisions
Pain Points
• When there is difference in her source’s opinions
• Failure of the online platforms to serve her purpose
• Feels daunted and conscious to clarify her doubts from others
due to lack of knowledge in certain subjects
Financial Maturity
Internet Research
Self-Illness
• Always depends on her Uncle for any decision in insurance
purchase
• To get more details of all the insurance, suggested by her
agent uncle on insurance aggregator sites
• Feels obligated to buy insurance from her uncle in hope of
getting assistance during claims and other paperwork. It gives
her a sense of community
• Discusses with friends and peers about their decisions and
opinions on insurance
Personality
Insurance Triggers
Insurance Awareness
Future Vision

“Need to take care my health so that I
can take care of my loved ones and their
health too”
Persona
Nidhi
23 years
Occupation
Human Resources
Location
Delhi
Digital Comfort
Gadgets
Payments
Online
• Gets more details on the advice given by her uncle agent on insurance aggregators site
• Regularly shops on online shopping platforms
• Explore apps that increases her communication with her friends and peers
• Invests in different gadgets for easy communication with her family
• Uses smart phones for on the go jobs
• Uses tablet for enhanced shopping experience
• Trust online transaction unquestionably and prefers banking on all channels
• Uses COD for try and buy when she is doing online shopping
Convert-ables
(Digital Millennials)

“Internet gives us the freedom, to do things
at our own convenience. We use mobile
when on move and laptop at office &
home”
Persona
Priyanka & Ajay Dhiman
31 & 34 years respectively
Occupation
HR Professional & Marketing Head
Location
Delhi
Goals & Motivations
• Dreams to providetheir children with the best of education
• Travel the world with his wife by his side
• To save money in the long run even if it costs a little today
• To personally assist his parents in their day to day life
• Always depends on Mr. Jain, who is their neighbor and an
agent, for any information on insurance
• Priyanka rechecks their agents promises on insurance
aggregator sites
• Perceive claim settlement as hassle and don’t mind paying
extra to Mr. Jain in hope of getting his help during the claim
submission
• Manages to wrangle enough of discounts from the agent, by
keeping both policies running on a no claim bonus annually
and also avoiding claim hassles.
Financial Maturity
Personality
Insurance Awareness
Future Vision
Insurance Triggers
Incentive
Internet Research
Self-Illness
Pain Points
• Lack of insurance awareness
• Uninformed about deals and discounts by their agent
• Mistrust of advertisements on social media
• Unauthorized calls and SMS
Convert-ables
(Digital Immigrant)

“Internet gives us the freedom, to do things
at our own convenience. We use mobile
when on move and laptop at office &
home”
Persona
Priyanka & Ajay Dhiman
31 & 34 years respectively
Occupation
HR Professional & Marketing Head
Location
Delhi
Digital Comfort
Gadgets
Payments
Online
• They reassess the commitments made by Mr. Jain on insurance aggregators site
• They spend time doing online window shopping and often buys items which are on sale
• They use apps to keep in touch with their friends and family
• Regularly uses internet to research and enlighten themselves about their surrounding
• Explore apps that require small online expenses, such as food apps
• Invests in different gadgets for easy communication with his family
• Uses smart phones for on the go jobs
• Mostly prefers COD for delivery options
• Minimum online banking. E.g. checking balance.
Convert-ables
(Digital Immigrant)

36
Insurance
Maturity
Online Maturity
2
1
-1
-2
-3
-3 -2 -1 1 2 3
Nikita
Jayprakash Yadav
Renu Dheeman
& Dheeman
Manish
Godrej
Nitin
Srivastava
Rahul &
Laxmi Bajaj
Hina
Pathak
Ketan &
Kajal
Mody
Manish Kalro
Taslim Arif
Lalit &
Mahek
Sawnani
Amir Adam
Mohammad
Jharna
Ahuja
Dharmraj
Jaiswal
/Aarti
Jaiswal
Manoj
Malkani/
Kiran
Malkani
Amit
Jain
Kavita
Sharma w/o
Sanjay
Sharma
Sumit
Sachdeva
h/o Sapna
Sachdeva
Anish
Baweja
Neha Chaddha
Manvika Behl
/Rahul Behl
Akansha William w/o
Methew William
Vivek
Lakhanpal
Abhishek
Sandeep
& Sujata
Sugumaran
Gopi/prema
Ashik
Saravanan
Azhar
Soundarajan
Lucknow
Mumbai
Delhi
Coimbatore
The Outliers
Insurance Maturity
- Have high maturity understanding of Insurance
- Have bought from agent and regularly interact with agent
- Agent will help in claims, expects discounts to come from the agents pocket
- Expects favors like back data hacks etc.
Online Maturity
- Does not transact online. Prefers to buy offline.
Manish Rai Jadhav
Prasad Pandit
Kirubakaran

37
“I have a long term relationship with
agent. He does everything for me and I
don’t have to worry at all!”
Persona
Prakash Yadav
36 years
Occupation
Senior Accountant
Location
Delhi
Outliers
(Digital Late Bloomers)
Goals & Motivations
• Aspire to live an relaxed life
• To be socially connected and grow in their career
• To focus on children's future (education, marriage, etc.)
Pain Points
• Has very less trust on Online channel
• Ability to move to online platform
• Feels that the insurance companies are not transparent in
giving clear and detailed information
Financial Maturity
Insurance Awareness
Future Vision
• Primarily depends on his agent for any decision in insurance
purchase
• To get more details of all the insurance, suggested by his agent
• Feels that it’s a mutual benefit. If the agent gets commission
through me, then I’ll get discounts on my premium or he’ll help
me during claim process
• Discusses with friends and peers about their decisions and
opinions on insurance
Personality
Insurance Triggers
Internet Research
Self-Illness

38
Digital Comfort
Gadgets
Payments
Online
• Finds details through discussions with family/friends/colleagues or insurance agents
• Buying is primarily through physical stores
• Internet usage is for communication, information seeking, entertainment (watch movies)
• Has smartphone for communication with his family, friends and colleagues
• Uses laptop of official needs
• Does not do any online transactions
• Primarily prefers direct banking. Does Online bank transactions only in case of last minute needs
• Believes in see, touch and feel before paying.
• Payment is made through cash or cheques
“I have a long term relationship with
agent. He does everything for me and I
don’t have to worry at all!”
Persona
Prakash Yadav
36 years
Occupation
Senior Accountant
Location
Delhi
Outliers
(Digital Late Bloomers)

41
Online
Behavior
• They shop online for the deals & variety. *ROPO
behavior is slowly changing to *ROBO behavior.
• OTP makes a higher perception of security than ever
before.
• COD is still used as a Try & Buy tool.
ROPO – Research Online Purchase Offline
ROBO – Research Online Buy Online

42
Mobility
• They browse on mobile but prefer to buy on the
laptop as the details are bigger and they are less likely
to be disturbed while the transaction is on.
• In fact laptop is the preferred medium for any
transactions which require presence of mind.
• Mobile is used for micro-transactions and transactions
on the go. If something is urgent, they do it on the
mobile.

43
Social
Media
Social media is home to them. They prefer to be
contacted on social media but not
disturbed.
• The most preferred ads on social media are
those with an emotional hook and those that
are clearly transactional in nature, like new
interesting products that I can browse etc.

45
MY AGENT
My Neighbor Shukla Ji
My Uncle
My go to person
Will help in me in claims
Will give me discount
Will fill my paperwork
Its all about convenience & hassle free insurance

46
• Someone who is verified through my friends or family.
• A Relationship Manager, who can clarify all my doubts and
questions, even the ones that sound stupid to me and not ask
me to go look at a website.
• A voice/video to talk to. A number to call.
• Someone to do my paperwork for me, keep track of my
payment methods, help me in taking out details and documents
when needed.
• Unbiased advice on right insurance product & provider for me.
I need

48
Telematics Sentiment Chart
Fantastic Reserves Judgement No
Pay How you Drive (Behavior Based)
Fantastic RJ N
Pay How much you Drive (Distance Based)
Fantastic Reserves Judgement No
The Telematics Concept

49
Pay As You Drive:
• Scale up when I want to, without affecting
my ‘plan’
Do not
penalize me
Pay How You Drive:
• For different speed limits
• For different driving style during long trips
• For someone else’s driving
Enable me to

50
Health for me
• Even though connected devices like FitBit
are a ‘nice to have & flaunt’.
• Most don’t understand the
usage or value of them.
• For all fitness is a personal endeavor, they
don’t want big brother
watching.

51
Health for my
parents
• Parents are covered in health
insurance even when they live away from
them
• Most people want to be involved
in their parent’s medical journey, more so when
they live away from them.

52
Education | Experience | Experimentation
Adoption Parameters

53
• Product Features
• Product Benefits
Adoption Parameters

54
• Let me experience
the product & its
benefits without
purchase.
Adoption Parameters

55
• Let me experience
the product & its
benefits without
purchase.
• I need a safe zone in which
I can experiment. Let me
get to know the product
better before I make a
commitment.
Adoption Parameters

57
• Terms & conditions (inclusions
& exclusions)
• Product options
Make it simple for me to understand
Gives me
complete clarity
on

58
• Cost, benefit, discounts & value
• Backend Process
• Claims process & claim amount
• Product options
Make it easy for me to expect
Has complete
transparency on

59
• Research
• Purchase
• Renewal
• Claims
Make me comfortable for the amount of
effort I make, mentally & physically
Provides total
support during

60
• Freebies that Connect with me
• Discounts that give me more
value
• Make it easy on my pocket and
mind
Make it easy on my pocket and mind
Gives me value-
adds

USER SEGMENTS - DEFINITION
User Segment Age
(years)
Gender
Mix
If married With
parents
Profession Education Digital
maturity
Financial
Maturity
digital
millennials
DINK 25 – 30 Couples <5 years
ago
Yes White Collar -
Both working
Professional or post
grad
High Low
Young
Achiever
23 – 29 Both NA No White Collar Post graduate High Low
digital
immigrants
SCNF 30 – 35 Male 5 – 10
years
No White Collar Post Graduate High Medium
DWIK 36 – 45 Couples 8 – 15
years
Yes White Collar -
Both working
Professional or post
grad
High High
digital late
bloomers
Digital Late
Bloomer
36 – 45 Male NA NA Corporate -
Finance
MBA in Finance Low High
DINK – Double Income with no kids
SCNF – Single Child Nuclear Family
DWIK (Joint family) – Double income with kids
63

Goals and Aspirations : Digital Comfort: Finance & Insurance:
Metro:
• Lack of call center a trouble (PayTM)
Non-Metro:
• Looks for latest devices in the market
• Is very comfortable with online buying
Metro:
• Ready for high risk high return investment –
Stocks,Bitcoin…
• Property Insurance - Not interested, since
items are changed within 2-3 years
Non-Metro:
• Looking for more tangible investments (start
business)
• Loan is required
Metro:
• Social acceptance - Dreams are
larger than reach, and a need to
show-off to fit into the society
• Status seeker– Wants bigger home
and an SUV‘s
• Buying a car / home more of
necessity
Non-Metro:
• Buying a car / home more of
necessity
11
SPECIFIC FINDINGS
Metro and Non-Metro

Health Insurance : Vehicle insurance : Agent :
Metro:
• Influenced by epidemic (Dengue)
• Look for things beyond insurance cover,
freebies and services. (It attracts them more)
• Need Relationship Manager
• Purchase driven purely by offer
Non-Metro:
• Not important
Metro:
• Most preferred the idea of top up insurance
cover for short road trips
• Tow and breakdown assistance is a key pull
factor
Metro: Jugaad!
• Have reservations about agent. However
Agents are also needed for:
o Offering discounts
o Hacks (for back-dating, etc.)
• Agent is a must
o Do the errands
o Make it hassle free
o Can clarify the nuances in detail
67
SPECIFIC FINDINGS
Metro and Non-Metro

DELHI :
• Customized offers, freebies and greetings.
• Be accountable and return unused money
• Could the premium be broken in smaller installments
• Holistic service ( pickup , ambulance, medicine…)
• Are ok with the new digital player with some legacy but
would like a call center.
MUMBAI :
• Do all the errands
• Give right answers/estimations
• Keep users updated / connected during the process
(apply, claim, etc.)
• Will consider online medium, if it is simple, easy and
hassle free
68
Ideal Insurer:
SPECIFIC FINDINGS
Metro and Non-Metro

Goals and Aspirations :
• Looking for a home and car.
• Emphasize on health and indulges in health
related activities like diet / exercise.
• Parents / family are the next most important
and desire to do something for them (gift
insurance / bring home / travel)
• Earn to spend. Brand conscious.
Digital Comfort:
• Mobile first generation, lives on internet.
• Laptop is for official use .
• Informed and will researched on every
purchase, peers and social network play the
roll of key influencers.
• Shops heavily on apps, offers seekers pay
COD by habit or for products that need trials.
No discomfort in digital payment.
• Ratings and reviews of users, influence
purchase.
• Social media (FB) is the best way to reach
them about a new product. They install and
explore if they are attracted to the ad.
• Error is forgiven , but service after that is
must.
Finance & Insurance:
• Depend on parents/ corporateinsure for insurance
related decision. Do not see the need of life
insurance.
• Lacks awareness of financial products and plan /
explore lesser than other categories.
• Most were un aware of home insurance and doesn’t
feel the relevance of it now.
• Policy bazaar is the preferred platform for
comparison and research, they are preferred over
the service providers site as well.
69
COMMON FINDINGS
Metro and Non-Metro

Health Insurance :
• Influenced by either an incident or by colleagues
to buy.
• Corporate insurer, brands suggested by parents
or colleagues and insurance agents are
influencers. However, they are very particular to
research, validate and dig deep online (policy
bazaar).
• Need assistance to understand the policy and
the process.
• Renew online after a reminder from the service
provider.
• Wish for a digital claim process
Vehicle insurance :
• Low awareness than health policy, often don’t
know / don’t initially care the insurance policy
they got during the purchase of the vehicle
• During renewal, peers / online (policy bazaar,
just dial, etc.) /agents influenced the decision of
moving to / buying a different brand with more
benefits (lesser premium, add-ons, etc.)
Agent :
• Agents are for:
• Initial hand holding
• Simplified explanation
• During claims process
• Positiveto the idea of and agentless smart
ecosystem, as far as it is easy to connect
and communicate.
12
COMMON FINDINGS
Metro and Non-Metro

• No big brother
• Could be used for self discipline ( drink and rive )
• What happens if network fails.
• Is ready to buy bundled and online
Telematics:
This is a great idea and
will go for it
T
h
Pay As
You Drive
T
Pay How
You Drive
Accepted, as long as the data
sharing is restricted to vehicle
information
Ideal Insurer:
• Transparent and simplified communication with clear checklist
• Customized offers
• Ratings and user reviews / testimonials influence decision.
• Applying for an insurance, premium payment or insurance claims should
be effortless,quick and easy
• Quality of service should be good. E.g. response to any consumer’s need
• Need friction-less experience
o I.e. once initiated online, there should not be any physical paper
work and running around
71
COMMON FINDINGS
Metro and Non-Metro

Behavior : Digital Comfort: Finance & Insurance:
DELHI :
• Lack of call center a trouble (PayTM).
DELHI :
• Rely on parents and continue
with what they have or was
given to them.
MUMBAI :
• Investment more in FD’s and
think about to-be kid’s future
DELHI :
• Stays in joint family, but want to go nuclear.
• Status seeker– Wants bigger home and an
SUV‘s
• Volunteers for social causes.
• Aspire for success in career and fear of job
security.
• Wife doesn’t want to share their income with
family and wants to save for herself
MUMBAI :
• Health - Food control
• Does online research on housing websites
like makaan.com, 99acres.com
73
SPECIFIC FINDINGS
Metro and Non-Metro

MUMBAI SPECIFIC:
• Talking to an agent is easy
because understanding
finance is tough
MUMBAI SPECIFIC:
• All of them had 2 wheelers as well
DELHI SPECIFIC:
• Apollo Munich and Start Health
preferred for older parents
MUMBAI SPECIFIC:
• Cancer was a trigger to buy insurance
for woman
74
SPECIFIC FINDINGS
Metro and Non-Metro

Ideal Insurer:
Telematics:
DELHI SPECIFIC: Jugaad!
• Feel that there would be more ways for insurance
company to deny claims.
• What if the device is removed and then re-fit again
DELHI SPECIFIC:
• Have multiple check button rather than one
check , to ensure one has read. Clearly
show what is not covered
75
SPECIFIC FINDINGS
Metro and Non-Metro

• Looking for a home and car.
• Health is most important, only a few do
worry about it and does walking and jogging
Digital Comfort:
• Mobile friendly, Internet is a source of information
and entertainment.
• Laptop is for finer details also feel safer doing
financial transaction on it.
• Research well before every purchase to ensure
the best deal.
• Shop online regularly but prefer COD, for ensuring
the right delivery and generally as someone is
always home.
• Ratings and reviews of users, influence women
more than men.
• Error is forgiven only if service after that is must.
• WhatsApp as the source of news and influence.
Social media (face book) still the the best way to
reach them about a new product.
• Men in control of finance and are much more
comfortable with digital transaction.
• Life Insurance got for tax saving but later seen
as a serious security measure like term plan
• PF
, PPF and FD are commons ways of
investment. Ladies focus only on saving and
FD.
• Most were un aware of home insurance and
would surely consider.
comparison and research
18
COMMON FINDINGS
Metro and Non-Metro

Health Insurance :
• Don’t go into details but seek pregnancy
cover. Policy often influenced by parents ,
investments done by self. Corporate
insurance is a bonus.
• Researches on line by buys from an
known agent.
• On line renewal on emergency, rest of the
time its paid to the agent.
• Brand conscious and is OK to go with an
new only digital insurance player if the
brand is known/ reputed. Older the more
is the repute.
Vehicle insurance :
• Lower awareness than health policy, often
don’t know / don’t initially care as to what
are they bundled and sold.
• Moved to a different brand and policy after
their first vehicle policy period. compared
(policy bazaar / just dial ) – Met agent –
changed . Renew online.
• Trust the loan provider as insurer for getting
better deal.
Agent :
• Know that agent is looking for his benefit. But
still go through them due to personal familiarity
or past reference. Feels they are necessary for
helping them during the claim process.
• Positiveto the idea of an agentless smart
ecosystem, as far as it is easy to connect and
communicate.
77
COMMON FINDINGS
Metro and Non-Metro

Ideal Insurer:
• Transparent, simple, understandable and clear
communication
• Easy to approach / chat / follow up from call
center. Sends notification and alerts but not
unnecessary mails.
• Completely ok with a digital company, but must
have good reputation ( ecosystem builds
reputation)
• Does not like to be watched over
• Car is shared so PHYD can not work .
• Emergency to trigger multiple contacts.
• Ready to buy as a bundled product online
Telematics:
will go for it
Accepted, as long as the data sharing
is restricted to vehicle information
78
COMMON FINDINGS
Metro and Non-Metro
Pay As
You Drive
Pay How
You Drive

Behavior : Digital Comfort: Finance & Insurance:
DELHI :
• Buying a bigger car is a common aspiration
MUMBAI :
• House is a priority,especially weekend
homes. Location Lonavla, Khandala
DELHI :
• Diversified financial portfolio,invest in real
estate, SIP, MF
, PPF
.
MUMBAI :
• Mistrust of ads that overpromise.
MUMBAI :
• Privacy is a big concern. Don’t want to be
watched over.
80
SPECIFC FINDINGS
Metro and Non-Metro

DELHI SPECIFIC:
• Less trust on agents, but go with them
for the ‘neck to catch’ & human connect
MUMBAI SPECIFIC:
• Less trust on agents, prefer online
transactions
DELHI SPECIFIC:
• The woman takes the lead in health issues
be it exercise or nutrition.
MUMBAI SPECIFIC:
• Stress & lack of time caused by the pace of
the city that takes a toll on health.
81
SPECIFC FINDINGS
Metro and Non-Metro

Ideal Insurer:
Telematics:
DELHI SPECIFIC:
• Jugaad! – What is we removeand keep it at home /
tamper with it.
• Few prefers PHYD - could instill discipline in the
driver. And will be an incentive for self to dive better.
DELHI SPECIFIC:
• Loyalty discount and offers acts as influencers as well
MUMBAI SPECIFIC:
• User interface should be simple and easy to work with
82
SPECIFC FINDINGS
Metro and Non-Metro

• The ones that stay in a joint family, want to
go nuclear with their own house.
• Those that stay in nuclear families worry
about their parents & are closely connected.
• Health is most most important, only a few do
something about it. Women more than men.
• Aspire for success in career and fear of job
security.
• Very careful to use DND on mobile to prevent
SMS spam. Email is the preferred medium
for most people.
Digital Comfort:
• Mobile used by men for managing work, finance
and social network. Women use it social media
and shopping.
• The preference is to surf on mobile but buy
online through laptop as the details are bigger.
Although while on the move , or pressed for
time, they buy on mobile.
• Research well before every purchase to ensure
the best deal.
• Comfortable with both COD and digital payment
for Online shopping , prefer COD for high ticket
items or when there is a risk element, be it
delivery issues or trial & return.
• Do click on Social Media ads but think of most
ads as irritating especially when they are not
transparent in communication and end up
causing spam.
(“dikha ta Kuch hain hota Kuch aur hain”)
• Financial decisions are inclusive and boththe
couple’s opinions are taken into account. The
man usually makes the transaction though.
• Very serious about Life insurance (covers as high
as 4.5 cr. split across all family member)
• Most were un aware of home insurance or the
benefits. If there is a benefit, would surely
consider it.
comparison and research
• Online renewal is considered easy and is a
comfortable transaction. For purchase, the
preference is agent, as he clarifies doubts.
83
COMMON FINDINGS
Metro and Non-Metro

Health Insurance :
• The importance of an agent becomes higher as
there are sensitive details to clarify and declare.
• Health is well researched and on line before
making a purchase
• Claims process is perceived as easy after the
experience. Before, it is a big source of concern.
• Freebies and offer attract more than the key
insurance cover .
• Help appreciated during the claims process be it
corporateHR, agent or just a simple set of
directions on the phone.
• Pain Points:
• paying extra for minor costs that are not
included in cashless policy
• physical sending of bills signed by doctor.
• Varied hospitals providing varied cover.
Vehicle insurance :
• The first insurance is usually a ‘incidental
expense’ during the purchase of a vehicle.
Incident of third party being bundled to negotiate
on price.
• Moved to a different brand and policy after their
first vehicle policy period expired. Purchase
through both online as well as agent. Research
online on Policy Bazaar preceded the purchase.
• Services and freebies remembered more than
core policy.
• The trigger is ‘More value for Money’. Stimuli
can be across board word of mouth,
conversation with agent, cold calling, online ads
etc.
Agent :
• Require relationship management throughout
the year. But only on request. No intrusions.
• Are very comfortable with an agent less world
as far as there is accountability and quality
service .
• Some mistrust agents because of a bad
experience or the perception of commercialism.
• Provides the human connect whenever
required.
• Perceive that the agent ‘helps’ in the insurance
claim process and is the neck to catch.
84
COMMON FINDINGS
Metro and Non-Metro

Ideal Insurer:
• Transparent, simple, understandable and clear
communication
• Easy to approach / chat / follow up from call center. Sends
notification, offers and alerts.
• Quality and efficient service – during settlement or
processing
Telematics:
will go for it
Accepted, as long as the data sharing
is restricted to vehicle information
• Extremely exited by the offerings of telematics tooland would love to
buy into the ecosystem and ready to pay premium for it.
• No issues with sharing vehicle information to the insurance company
• Ready to buy as a bundled product online
85
COMMON FINDINGS
Metro and Non-Metro
Pay As
You Drive
Pay How
You Drive

• Mobile is the primary channel for,
communication
• Tab and Laptop is given by office and will
use only for official purpose
• Will discuss with friends/ colleagues, first
and then maybe consider internet research
before final decision
• Try and Buy only
• Use cheques and agents for paying
premiums
Digital Comfort:
• Online comfort
• Buying/transaction is not comfortable
• Has concerns regarding ‘online
security’. Heard of hacking
• Rarely do online transactions. If done
its only COD
• Will research online but not purchase.
• Had & heard bad experiences, so do
not trust completely
• Is very worried to share details online
• FB is used once a while and
WhatsApp regular
• Don’t prefer any Ad communication
• Well aware of finance and insurance needs
• Need to be insured for family’s sake. Don’t
want family to take the burden, if something
happened to me
• They should not be burdened with the
debts that I’ve taken
• Children’s higher education is key focus
• Has home insurance, with property
insurance
87
COMMON FINDINGS
Metro and Non-Metro

Health Insurance :
• Health is slowly becoming a concern
• Problem (cancer) in family triggered the
need of buying insurance.
• Has corporate+ personal care
• Believes the agent for choosing policy
• Has taken insurance while travelling. Calls
the same agent from where the normal
insurance is taken
Vehicle insurance :
• Given bundled offer by dealer
• Has clear understanding about the
insurance policy
• Moved to a different brand and policy after
their first vehicle policy period. compared
(policy bazaar / just dial ) – Met agent /
bought online .
• Services and freebies remembered more
than core policy.
Agent :
• Comfortable when the agent is right in front
of eyes
• Increases trust factor
• Trusts someone who has been in the
insurance business for long and has
made a career of it.
• Need agent to run the errands, during
buying/claiming.
• Need time and focus on the patient
and not waste time claims
• Ready to pay extra for human touch.
• However does not trust a company
employee as an agent, as they keep jumping
from one brand to other
• Are open to buying from a smart online
agent, but want customer support during
emergency.
88
COMMON FINDINGS
Metro and Non-Metro

Ideal Insurer:
• User layman language and not technical jargons
• Be transparent – Tell what is not covered
• Do not use complicated words or hid behind fine
prints.
• Communication- explain what is not covered
• Customized plans
• Very less information about telematics/ connected cars
• Believes, this can benefit the society, if there is a larger eco-
system connect (vehicle, driver, RTO, Cops, etc.)
• PHYD - Felt they were being “watched”
• Insurance company can misuse the data collected
• Can it bought separately without insurance and why only online?
As a good conceptitis
good
Not sure. Whatif the data
is misused?
Would like to see and understand the benefits of the
product before buying it
Telematics:
89
COMMON FINDINGS
Metro and Non-Metro
Pay As
You Drive
Pay How
You Drive

EXPERTISE
• Prefer a known player from the industry
LEGACY
• Are ok with the new digital player with some
legacy
ECOSYSTEM
• Even if a new player has a ecosystem tie-up
with trusted brands , the new brand gets trust
CONVENIENCE
• Bought Apollo Munich, so that it is easy for
claims at Apollo hospital
HUMAN CONNECT
• Needed at least at the initial stage. (call center,
relationship manger)
MORE THAN JUST INSURANCE
• Freebies, loyalty benefits, checkups, coupons
(loved the idea of telematics as the brand is
doing more than insurance with app)
Honesty Accountable
Holistic Service
Transparency
Personalization Constant
ConnectCare Hand Holding
Pampering Digital
Uncomplicated
BRAND DRIVER
91

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