Kotak Mahindra Life Insurance Braces for Industry Transformation in 2025
The role of the Chief Marketing Officer (CMO) has never been more critical. In a recent interview, Ashish Nair, CMO and Head of Customer Value Management and Health Tech at Kotak Mahindra Life Insurance, provided insights into the company’s strategies and highlighted key trends anticipated to reshape the insurance sector in the coming year.
Nair discussed the company’s recent campaign, ‘Viraasat Ban Ke Hi Rahegi,’ which aims to resonate with the aspirations of modern Indian families. He noted that the campaign reframes term insurance as a way to ensure a legacy for loved ones, aligning with the growing financial confidence in India. The ad film features actor Rajkummar Rao, reinforcing this message.
“Our challenge, therefore, was to make term insurance resonate with an increasingly aspirational India,” Nair explained. “Our campaign, ‘Viraasat Ban Ke Hi Rahegi’, speaks to the deep-rooted desire of every Indian to build a legacy for the security and comfort of their loved ones.”
Kotak Life Insurance is focusing on enhancing customer experience, innovating product offerings, empowering distribution partners, and expanding accessibility. Their strategic roadmap is centered around these four key areas:
- Customer Onboarding, Engagement, and Post-Purchase Experience: Streamlining interactions using AI-driven tools and digital support systems.
- Innovating Product Offerings: Crafting insurance solutions that meet and anticipate customer needs with a focus on affordability.
- Empowering Distribution Partners: Equipping advisors with advanced tools, such as the ‘Smart Sell’ platform, to enhance engagement.
- Expanding Accessibility: Using a multi-channel approach including digital platforms, branches, and advisor-led models.
Looking ahead, Kotak Life’s marketing strategy will focus on consumer insights, a digital-first approach, marketing automation, brand building, and influencer partnerships.
“Do consumers know our brand? Do they know enough to consider us? Will they buy from us?” Nair stated, outlining the core questions guiding their marketing efforts.
Kotak Life is also leveraging Generative AI (GenAI) to improve customer engagement. According to Nair, they’re experimenting with GenAI to create targeted marketing content and personalized videos. Their advisor AI tools enable distribution partners to send custom communications, and AI-driven training modules simulate real-time conversations to improve sales effectiveness. They have even introduced an AI-powered HR virtual assistant, ‘Kavya’, to enhance employee experiences.
In 2025, the life insurance industry is expected to undergo significant transformation. Nair highlighted several key trends:
- Advanced Customer Segmentation: Using AI and machine learning to create detailed customer personas and personalized messaging.
- Seamless Customer Experiences: Developing digital-first experiences that simplify processes for greater accessibility and value.
- Tech Innovation: Leveraging AI, machine learning, and MarTech to improve personalization and anticipate customer needs.
- Redefining Engagement: Integrating wellness programs and financial planning tools for a wider range of services.
- Winning Consumer Attention: Creating relevant and authentic content that resonates with target audiences.
Nair emphasized the importance of building lasting relationships, fostering trust and delivering consistent value to drive sustainable growth in the coming years.
