Life insurance despite being a must-have financial instrument and a great option for income tax savings is still one of the lowest-penetrated categories. It is often perceived to be boring and lacks engagement on digital platforms due to a lack of awareness. To drive awareness and engagement for the life insurance category, Kotak Life, one of the leading players in the life insurance category, partnered with iProspect. Together, they collaborated with Vserv AudiencePro to launch an innovative gamified rich media solution.
Conceptualised by iProspect – the digital-first end-to-end media agency from dentsu India, the innovative gamification campaign demonstrated the concept, challenges, and nuances of tax saving through an engaging fun game, encouraging audiences to avoid procrastination and make informed financial decisions. It used the deterministic audience segments from Vserv AudiencePro – a Consumer Intelligence and Activation Platform, to avail access to factors like income and transactions, people from finance, and investments to deliver sharper targeting.
The gamification idea of tax savings combined with precise targeting was a massive hit with an engagement rate of around 2% (0.13MN/8MN). It also enabled Kotak Life to reach out to select target categories such as healthcare and pharmacy, home loan customers, and salaried professionals to attain its goals of creating awareness, engagement, and making a lasting impact.
Subhasis Ghosh, Joint President, Kotak Life said, “At Kotak Life, we understand the complexities of effectively engaging potential customers in the life insurance industry, particularly regarding tax savings. To tackle this issue, we partnered with iProspect to develop a gamified rich media solution aimed at educating and motivating the target audience to make informed financial decisions. The game was strategically designed to address the common issue of procrastination among potential customers, encouraging them to plan their taxes proactively. The collaborative approach between Kotak Life and iProspect successfully achieved campaign objectives and fostered great engagement for the brand.”
Dippak Khurana, Co-Founder, and CEO, Vserv added, “Our team at Vserv is dedicated to creating innovative solutions that help our clients reach their target audience effectively. With Vserv AudiencePro and Vserv AdLabs, we were able to leverage our customer intelligence and creative expertise to help Kotak Life break through the clutter and engage users with a fun and informative campaign on tax savings.”
Vinod Thadani, Chief Digital Growth Officer, dentsu Media & CEO, iProspect commented, “Leveraging gamification to solve real-world problems is a pressing need in the current digital landscape. A strong gamification concept by our team drove the much-needed impact in making this campaign a game-changer in the life insurance space. Thanks to Vserv’s sharp targeting & effective campaign execution too, we were able to make this campaign a success. We at iProspect always aim to create innovative & effective solutions for our clients.”