The year 2024 saw a shift towards human-centric marketing strategies, with brands emphasizing “real stories by real people.” Sai Narayan, Chief Marketing Officer of Policybazaar, spotlighted the localized campaigns launched in regional languages, noting their ability to resonate deeply with audiences beyond metropolitan areas. This, he suggested, signified a broader trend towards culturally rich and sensitive marketing approaches. Narayan highlighted that this shift in consumer engagement strategies reflected a growing focus on relatable narratives, built on trust and emotional connections, rather than mere transactional messaging.
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What were the key highlights for you and your teams in 2024?
Built trust in a category that is inherently complex and trust-deficit: We launched impactful claims campaigns such as the “Health Claims Support” and “Claims Assurance Program”. These campaigns addressed scepticism around claims processing, reinforced trust, and converted satisfied policyholders into vocal brand ambassadors.
Went beyond Hindi-speaking metros: We identified states which had high conversion rates but were low in both the Category and Brand Development Index (BDI and CDI). Through effective communication and relatable content in vernacular languages, we have diversified to run brand campaigns in Tamil, Telugu, Kannada, Malayalam and Marathi. We leveraged culturally relevant content in regional languages to resonate with diverse audiences and strengthen Policybazaar’s foothold across India – this resulted in remarkable top-of-the-funnel growth.
Added more sources to our performance channels: We achieved significant growth in customer acquisition by expanding our performance channels through influencer marketing and paid app-based campaigns. Influencer marketing has evolved into a dual-purpose channel, driving both top-of-the-funnel awareness and measurable performance, contributing 20 percent of the total premium for our top three products, with consistent month-on-month growth. Similarly, paid mobile app campaigns now account for 25 percent of the total premiums from performance channels, bringing in high-intent traffic and driving quality conversions.
Built a robust video content ecosystem: We developed a comprehensive video content strategy focused on the pillars of education, trust, and information. This empowered consumers with insurance knowledge while reinforcing Policybazaar’s position as a reliable advisor. Our video series like AskPB, Sunday Wellness and Insurance Insights helped our YouTube channel cross the 2 lac+ subscriber mark this year. A healthy mix between long-form and short-form content has been the key to this achievement.
Women and protection: We also made a big push for term insurance for women, and it was heartening to see how many women took that step toward securing their family’s financial future, leading to a significant rise in women buyers. Our target audience was men and women who have been conditioned to not see women as key financial decision-makers. The idea was to help the audience understand that the death of a mother figure – homemaker or salaried – can have an irreparable impact on the family’s financial stability.
Mental health awareness: Our mental health campaign featuring Major General Vikram Dogra, Ati Vishisht Seva Medal winner, and Kargil war hero, was our way of helping Indians rethink the concept of strength and give mental health its due importance. It deeply resonated with social media users; the film hit 1 million views a few hours after we released it.
What defining trends stood out for you in 2024?
Regional and vernacular focus: Localised campaigns in regional languages resonated deeply with non-metro audiences, reflecting a shift toward culturally sensitive marketing.
Authentic storytelling: The rise of “real stories by real people” marked a shift in consumer engagement strategies. Brands are slowly moving away from overly polished narratives, opting instead for relatable, human-centric storytelling that builds trust and emotional connections.
Omnichannel engagement: The combination of digital analytics, experiential marketing, and TV campaigns during high-impact properties (e.g., live cricket) was embraced by brands, which resulted in a maximised ROI.
How did the rise of AI and generative AI impact your industry this year?
Gen AI helped us curate tailored content across languages which addressed diverse consumer preferences and needs more effectively. Our team also leveraged AI to process vast datasets which helped us identify emerging trends and optimise our campaigns.
AI tools sped up the development of vernacular content for regional campaigns which enabled efficient scaling across different languages.
What disruptive trends will take the spotlight in 2025 (from a marketing perspective)?
Authenticity will remain key. People trust real stories, so I think we’ll see brands involving their customers more, co-creating content that feels genuine and relatable. Purpose-driven campaigns will also dominate. Consumers want to know that brands stand for something, whether it’s sustainability, inclusivity, or social impact.
What are your New Year’s resolutions on a professional and personal front?
We want to continue building consumer trust through innovative campaigns and enhancing customer-centricity. We will continue to bet big on strengthening Policybazaar’s regional and vernacular marketing efforts, which is the key to achieve ‘Insurance For All.’
Life gets busy; but as a team, we like to keep things light and have conversations beyond work – a happy team is the key to success. On a personal level, I want to pause, reflect and enjoy life’s simple pleasures more – a piece of advice that has always served me well.
Read More: Have conversations with the team beyond work: Sai Narayan, Policybazaar