Anisha Motwani, Director &
Chief Marketing Officer, Max New York Life InsuranceIt’s said that insurance is always sold and never bought. But Anisha Motwani, Director & Chief Marketing Officer at Max New York Life Insurance (MNYL) has proven this doctrine wrong on several occasions. She firmly believes that brands are not formed just by communications, but it’s a cumulative consumer experience through various touch points. “The consumer is not as complicated as you think. You need to always see yourself as a consumer, as if you were not part of that industry,” says Anisha who firmly believes in “need-based” selling.
In fact, this was the reason that within just three months of joining MNYL in the fall of 2007, the former veteran marketer at General Motors, changed Max’s tagline from “Your Partner for Life” to “Karo Zyada Ka Irada”, to ensure a greater emotional connect with the consumers. And it worked, especially to create a more customer-centric focus and to drive a greater value for the consumer. “When I joined MNYL we had a brand positioning that was Your Partner for Life. It was certainly a very insurance positioning. But, there was something in it that didn’t gel with my creative mind and I wasn’t convinced with the idea. If my challenge was to build this brand then this whole thing of trying to play the same game and trying to get better than others was not the fastest possible way for me to achieve my objective,” explains Anisha.
It’s actually this insight that has helped the brand MNYL climb the success ladder in a short span of time. From a brand awareness score of 58 with “Your Partner for life” in 2008 (ref: ICMR-4Ps B&M survey), MNYL has today reached a point where it can boast of being among the industry leaders when it comes to recall (brand awareness score of 93 in 2010). What’s more? It was the only insurance company to be a part of prestigious Superbrands list for 2009.
But then, there are a host of private life insurance players in India, which offer products under different brand names. So how has Anisha managed to make MNYL stand out in the clutter? “If you have a product which emanates from a consumer’s need, you have your differentiation done,” says Anisha. In fact, her favourite case in point is MNYL’s Shiksha Plus product. She feels that if people are buying child insurance policies, they are not looking at merely insurance. They are looking at grooming their children as all-rounders and not just academic super-achievers; and as such are in search of a “talent development” kitty and not just a lump-sum for their child’s education. It is this very insight that led to forming the contours of MNYL’s leading child insurance product – Shiksha Plus.
She believes that marketing has moved way beyond creating just awareness to building relationship, particularly in a product category like insurance. As such she has taken several bold and rapid steps in customer relationship management. The newest weapon she has made available in MNYL’s communications armoury is a technology platform that uses digital marketing in reaching customers and agents, faster and more effectively. Supporting this aggressive growth agenda is a multi-channel distribution network comprising over 94,000 agents & 12,500employees.
For more articles, Click on IIPM Article
Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Proves Its Mettle Once Again.....
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
