Policybazaar, the online insurance marketplace, has unveiled 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, as per the company, is inspired by IRDAI chairperson Debashish Panda's vision of providing insurance to each family by 2047. This drive reiterates the need for insurance at all stages of life.
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 and 3 cities for advancing a higher level of awareness regarding insurance protection. The new tagline launch emphasises 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 per year income have adequate insurance coverage. The company strives to close the insurance protection gap in India by insuring one family at a time.
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-emphasises 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% of our insurance business coming from non-tier 1 cities, up from 28% in FY17.”