Gurugram : Policybazaar, one of India’s largest online insurance marketplaces, unveils its new tagline – ‘Har Family Hogi Insured’ – to underscore the brand’s vision of a healthy and well-protected India. The tagline further reinforces the company’s mission to help the Indian middle-class deal with the 3 D’s – Death, Disease and Disability. The campaign is inspired by IRDAI chairperson Shri Debashish Panda’s vision of providing insurance to each family by 2047. This drive reiterates the need for insurance at all stages of life.
Since its inception in 2008, Policybazaar has been deeply committed to transforming insurance from a push product to a pull product. Representing the brand sentiment of making insurance more accessible, Policybazaar’s new tagline aptly sums up the holistic nature of its services in both online and offline channels. To further expand and deepen insurance penetration in India, Policybazaar has strengthened its physical presence with over 500 dedicated field agents, 35 newly-opened retail outlets and 6 new major centres apart from its existing Gurgaon and Mumbai operations. To cater to different regions and engage with customers, especially in Tier 2/3 cities, the brand provides native language support in 11 languages to guide them throughout the policy lifecycle. The new brand ethos emphasizes how Policybazaar helps customers across geographies comprehend different insurance products and choose from the best options available.
Yashish Dahiya, Co-Founder and Group CEO, Policybazaar.com said, “With our commitment to putting customers at the centre of our services, we have been able to successfully enhance the level of insurance awareness for our existing consumers. We want to take the insurance distribution and access to every nook and corner of the country. This refreshed brand commitment focuses on tier 2 & 3 cities for advancing a higher level of awareness regarding insurance protection. The new tagline launch emphasizes our aim to democratise insurance in India where each member of the household is insured.”
Even after witnessing an increased adoption after the pandemic, insurance penetration in India still remains low as compared to countries like USA and China. At present, only 20% of India’s 60 million families, i.e., people with more than 6000 USD per year income have adequate insurance coverage. Policybazaar strives to close the insurance protection gap in India by insuring one family at a time.
Talking about the announcement, Sarbvir Singh, CEO, Policybazaar.com said, “Our focus has always been on improving India’s insurance penetration and casting a wider financial safety net for each family in the country. Our new tagline to ‘Har Family Hogi Insured’ strongly re-emphasizes the brand’s core values and focus. Customers in smaller towns and cities are now increasingly gravitating towards adequate insurance coverage. We are also seeing a steady shift in the business mix with 59 percent of our insurance business coming from non-tier 1 cities, up from 28 percent in FY17.” [Link to our CEO’s message]
With a refreshed take on the brand tagline, Policybazaar reinforces its rich history as a leading digital insurance marketplace with a 93.4% market share among all online insurance distributors, its 48 million customer base and over 126 million platform visitors. Leveraging an enviable brand recall value and a robust insurer network, the brand intends to make financial security accessible to every family even in the remotest locations in the country.