The ‘Caring’ Policy
A closer look at vehicle insurance brand CocoRide’s maiden digital film.
A look at the insurance brand’s maiden digital film.
With insurance becoming an instrument for ‘planning the future’, communication has almost become restricted to the man/father as the power-centre where financial planning decisions are made. Challenging this stereotype, COCO by DHFL General Insurance has launched its first digital-only campaign - #CareMoreHaveMore - for its retail two-wheeler policy COCORide.
Conceptualised by HyperCollective and directed by Punarvasu Naik, the film showcases the need for motor insurance. The first leg of the #CareMoreHaveMore campaign speaks to two-wheeler owners, and how insuring a vehicle can provide long-term benefits.
The over two-minute-long brand film focuses on two key aspects - empowering women, and the protection of one’s loved ones and prized possessions. More importantly, it breaks gender stereotypes. The video shows a daughter asking her father for the keys to his bike. Although her father refuses she nonetheless enjoys riding it in secret (or so she thinks), until it is hit accidentally by a vehicle when parked on the street.
The father simply uses the insurance provider’s app to call for assistance and get the bike fixed. He then lets her ride it with the understanding that it will become her responsibility to look after it if she’s going to use it.
Speaking about the storyline, KV Sridhar, aka Pops - CCO and chairman, HyperCollective, says, “It’s quite a cliché that a girl is always associated with a bike while a guy is always referred to with a bike. However, in India there are many women bikers; many even going on cross-country rides.”
DHFL General Insurance started its operations in November 2017 and has already launched seven products prior to COCORide. It has been able to write a Gross Written Premium (GWP) of `141.1 crore in its first five months (financial year 2017-18).
WOMEN IN THE LEAD
Vijay Sinha - MD and CEO, DHFL General Insurance, says, “In 2005-06, when the last NFHS (National Family Health Survey) survey was conducted, 43 per cent of married women between 15 and 49 years, had reported working in the past 12 months. This proportion has declined to 31 per cent in the latest survey (2015-16). COCO aims to highlight issues that need a voice and today, it is women’s empowerment.”
The brand is aiming to more than triple its debut year’s performance by achieving a GWP upwards of `500 crore in 2018-19 - a section of which will come from the twowheeler market.
THE CARING FACTOR
Ask Sinha about COCO’s market and he rattles off the names without pausing, “Mumbai, Hyderabad, Bangalore, and Delhi along with cities such as Pune, Chandigarh and Ahmedabad see the most traffic and conversions for us through our online channels, so far. There is traffic building from cities like Lucknow, Indore, Bhubaneswar, Siliguri, Sonipat, and Patna.”
Says Pops, “An insurance product has to take care of the policyholder’s needs, else it won’t be sold. So, the caring aspect is what we have explored.” The campaign does not aim at targeting new bike owners but existing owners with threefour-year-old bikes. “The logic is simple - the premium is smaller for two-wheelers and hence, the effort,” explains Sinha. With 70 per cent of the market open (Sinha estimates that 70 per cent of bike owners do not renew the insurance), the brand strategy is to tap renewals. But why is the branding element visible only towards the end of the ad?
“We did not want to appear showcasing a dire situation, which is often when a person thinks of insurance. Therefore, the branding is at the end, to inform the viewer that this is our message,” explains Sinha.
Speaking about the challenges that come with creating a digital campaign for a bike insurance category, Pops says, “For any new brand, the most important thing is to reach the right audience and create affinity. Since, it’s a mobile-first digital brand, to establish it digitally, without using traditional media such as print or TV, is difficult.”
Priti J Nair, co-founder and director, Curry Nation, opines that the brand has made the point wonderfully. She says, “What most long-format digital indulgence often misses is the role of the brand. This one does not do that. The bike getting totally wrecked and coming back looking ‘chakachak’ underlines a really strong brand role. It will get people to at least check out CocoRide.” Ramya Nagesh, national planning director, The Glitch, says, “The ad may make it more likely for a consumer to consider this brand.” She, however, maintains, “Breaking gender stereotypes is becoming more common - the content would have to have a certain nuance in order to stand out from the other brands in the space.” ■
“The logic is simple - the premium is smaller for two-wheelers and hence, the effort.”
The campaign aims at targeting existing bike owners with three-four-year-old bikes.