Policybazaar.com, India’s leading insurtech brand and largest insurance comparison portal, has launched a consumer awareness campaign, NiveshKarBefikar to help people understand what the new-age Unit-linked Insurance Plans (Ulips) are all about and the role it can play in their long-term financial planning.
The NiveshKarBefikar campaign aims to dispel myths surrounding the product, by producing 2,000 minutes of high-quality content through a series of conversations where industry leaders come in and share their views on why the fourth generation version of Ulip is probably one of the best long-term investment-cum-insurance products existing in the country.
Policybazaar.com has mandated the personal finance advisory platform, The MoneyMile to generate content for this consumer awareness campaign. The campaign aims to spread awareness among nearly 100 million people who consume news online and are looking for a better solution to their personal finance needs, using a mix of traditional, digital and social media communication channels.
Speaking on the launch of the campaign, Mr. Yashish Dahiya, Co-founder and CEO, Policybazaar.com said, “Ulip is a story of a bad guy turned good. We want to clear all the misconceptions that the consumer has around Ulip through this campaign. The product is highly cost-efficient, flexible and transparent today. It’s a great investment tool for consumers to fulfill their life stage goals. As a company, we have always believed in products that are good for consumers and we felt here’s a story that needs our reputation-building efforts.”
Elaborating on the campaign, Aman Dhall, Head of Communications, Policybazaar.com said, “The idea has been to keep the messaging simple yet powerful. We want to regain the trust of the consumer in Ulip and we felt that a communication outreach campaign is the best way to go about in the beginning. For now, the campaign is producing and distributing content online where the new-age financial audience is, however, we plan to take this initiative to TV in near future so that we can connect with the larger audience.”
Speaking on the Campaign, Vivek Law – Founder and Editor-in-Chief, The MoneyMile said, “We are delighted to partner with Policybazaar, a path breaker in the insurance space, in this educational initiative. The low cost fourth generation ULIPs that Policybazaar has brought to market with some insurance companies are extremely competitive. Our series, NiveshKarBefikar seeks to educate people on these products as well as other aspects of insurance that are so much needed for our society.”
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PolicyBazaar.com is India’s largest insurance marketplace. It has backing from a host of investors including the likes of Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices. The portal started with a purpose to educate people on insurance products and has had a significant influence on how insurance is bought in India. It has helped in driving penetration of pure life insurance, health insurance and such products which were barely bought earlier.
From receiving traffic of 1,80,000 visitors in 2008, PolicyBazaar.com has come a long way and today hosts over 100 million visitors yearly and has nearly 3,00,000 transacting customers in a month. Currently, PolicyBazaar.com accounts for nearly 25% of India’s life cover, and over 7% of India’s retail health business. It accounts for roughly half of all internet based insurance purchase in the country, and is more than doubling annually.