The company launched its new TV commercial to boost life insurance awareness in India
Premium- Pankaj Tripathi to feature in Policybazaar ad campaign
Policybazaar, an online insurance marketplace launched its newest brand campaign featuring actor Pankaj Tripathi. The campaign aims at raising awareness about the significance of term life insurance.
Establishing an afterlife setting, the creative campaign kicks off with a seemingly affable college professor being directed to the gates of hell in a surprising turn of events. Baffled, he is told by the gatekeeper that he has committed a ‘ghor paap’ or sin against his family by not purchasing a term life insurance in his lifetime. Played by the charismatic Pankaj Tripathi, the gatekeeper then lets the next guy into heaven since he had taken a policy.
Sarbvir Singh, CEO of the firm said, “The overall low insurance penetration rate in India is a reflection of mostly uninsured or underinsured people. Our new campaign is humorous and hard-hitting in equal measures to create the maximum impact on the general consumer mindset of procrastination." Sai Narayan, senior director of brand and marketing of the firm added that the concept behind the campaign was to make consumers aware of the transience of life and the gravity of an unprecedented situation. “The humour element is intended to educate as well as entertain them at the same time. Tripathi is one of the most popular faces of the entertainment industry and his trademark style helps get our message across prudently among the masses." Hemant Misra, managing director of creative agency MagicCircle said, “Death is the only truth in our lives. For this campaign, we went beyond the fear of death to a fear that lives on even after death. The fear of being remembered as the person who robbed their family of happiness. That is not simply a crime but a ‘Ghor Paap’. That is the simple insight this campaign is based on."
According to IBEF, India’s insurance market size grew to ₹21,957.03 crore in 2022 as compared to the Rs. 21389.70 crore in January 2021. The market share of private sector companies in the general and health insurance market increased from 48.03% in FY20 to 49.31% in FY21.