top of page

Group term insurance launch

Pioneered the introduction of a long-term insurance product for clients, crafted to cater to the specific needs and preferences of their employees. The product's inception was rooted in valuable feedback from employees, ensuring it was purposefully designed to deliver maximum value

  1. Voice of Customer: In all of the meetings with the intermediaries it was observed that there was a need of a long term group insurance product as employees were not keen on renewing their policy every year.

  2. Brainstorming: This idea was then discussed with the pricing, product and compliance team to understand the risk of providing a long term insurance and calculate the business implication to cover that risk

  3. Quantitative Research: The idea was then surveyed amongst 80 intermediaries and 150 clients who checked with approximately 6000 employees to find out that

    1. 80% employees preferred enrolling for corporate plans

    2. 76% employees did not want to go through annual renewal

    3. 60% employees would consider taking additional benefits along with the base plan

  4. Sponsorship: This information was then used to get sponsorship from senior management to establish potential

  5. Marketing: Then a story was built around the requirement of this product and how it was more beneficial compared to the current product. Marketing campaign was launched across leading clients and intermediaries

  6. Launch: The product was launched initially amongst 25 corporates catering to more than 250 employees

Power in Numbers

20

Increase in new users navigating to product page

50

Pages identified with the issue and rectified for the same

1500+

Users logged in directly to their accounts in a week to check their loan details

bottom of page