Strategic expansions, localized content: Bandhan Life’s gameplan for 2025

Bandhan Life Insurance, one of the leading financial service providers in India, provides its customers with all-inclusive life and term insurance plans with a CSR or claim settlement ratio of 99.66% for FY 2023-24. and is known for settling claims efficiently and quickly.

After being acquired by Bandhan Financial Holdings, Aegon Life Insurance was rebranded as Bandhan Life Insurance in April 2024. Since this rebranding, Bandhan Life Insurance has been on an aggressive growth path, with plans to strengthen its employee base, as well as expand the company’s product offerings.

Leading this growth strategy is Akhil Almeida, an experienced Digital Marketer with expertise across OTT, Media, Tech, E-Commerce, Auto, BFSI, and FMCG. He has a strong understanding of analytics, marketing technology, attribution, and planning tools.

In conversation with Adgully, Akhil Almeida, Head of Marketing, Bandhan Life Insurance, speaks about the evolution of marketing strategies of brands amid the changing content consumption of people, how Bandhan Life Insurance is leveraging the growing number of media platforms to reach a diverse set of audiences, how marketing campaigns have undergone change over the years, the enhanced role of marketing in shaping a company’s brand identity, its significance in the unique positioning of a company amidst growing competition, and much more.

Could you shed light on the evolution of marketing strategies of brands in the midst of the changing content consumption of people?

Marketing today mirrors the transformation of India’s entertainment landscape. In the past, a blockbuster film release dictated everyone’s weekend plans – just like a single TV ad campaign once defined brand outreach. Now, we have multiplexes, OTT shows, Indie web series, and snackable YouTube videos, each capturing distinct audience segments. Similarly, marketers must embrace a multi-platform, consumer-driven approach. They don’t just rely on one hero commercial; they craft diverse narratives for each channel, from quick social reels that grab attention instantly to long-form content that builds trust over time. Brands need to adopt a flexible, audience-first mindset to stay relevant and relatable in light of evolving consumer preferences.

How is Bandhan Life Insurance leveraging the increasing number of media platforms to reach a diversified set of audiences? What are the benefits, challenges, and strategies to achieve that?

I’d like to draw an analogy with the cricketing world. Earlier, you just had five-day Test matches, now you have Tests, ODIs, and T20s, each with unique rules and fan followings. The modern cricketer has had to adapt their game plan for multiple formats. Similarly, Bandhan Life tailors its content to each platform: short, vibrant videos for social media (T20-like quick engagement), detailed explainers on YouTube (akin to an ODI’s balanced approach), and in-depth discussions on community forums (resembling a Test match’s patient storytelling). The benefit is reaching everyone, from fast-paced digital natives to those seeking deep dives. The challenge lies in constantly analyzing what “pitch” you’re playing on and adjusting your “batting” accordingly. By staying nimble and data-driven, we ensure consistent performance across every platform.

How have marketing campaigns changed over the years and continue to adapt to the transitions in the social trends and beliefs of people?

Marketing campaigns have evolved much like India’s television landscape, shifting from “saas-bahu” serials to modern OTT dramas. Once, brands delivered fixed narratives – set plots that rarely changed. Now, they’re responsive and fluid, just like today’s showrunners and directors adapt to audience feedback. As social values evolve – people caring more about sustainability, financial independence, or cultural diversity – campaigns echo those sentiments. Instead of one-size-fits-all messaging, marketers craft campaigns that represent various viewpoints, blending entertainment with social relevance. Today’s campaigns function more like dynamic dialogues than a pre-written script. This helps brands to align with emerging cultural currents and more meaningfully connect with their audiences.

Could you throw light on the enhanced role of marketing in shaping a company’s brand identity and its significance in the unique positioning of a company amidst growing competition?

Building a brand identity today is like carving out a hit show in a crowded streaming library. With countless options available, marketing becomes the showrunner, defining the series’ tone, characters, and core message. Instead of just promoting products, marketing now sculpts a brand’s personality – like giving it a distinctive “genre” so consumers remember it. In an arena where countless “episodes” (competitors’ ads) vie for attention, the brand that consistently delivers an engaging storyline stands out. Marketing ensures every interaction – from a website visit to a social media comment – reinforces who you are. This coherence turns a faceless company into a familiar, trusted name in a hyper-dynamic marketplace.

What is the core principle behind Bandhan Life Insurance’s marketing strategy?

At Bandhan Life Insurance, our marketing philosophy mirrors the guidance of a seasoned cricket coach nurturing a promising talent through every stage of his (or her) evolution. The core principle is to understand the playing field – consumers’ real-life challenges – and provide the right guidance at the right time. Instead of pushing products like cheerleaders chanting from the sidelines, we step in as mentors, breaking down complex financial jargon into simple, relatable terms. Bandhan Life Insurance recognizes that securing one’s future is a long inning, and we’re there to support steady, confident progress. By focusing on empathy, clarity, and helpfulness, we ensure customers feel coached, not sold to, cultivating long-term trust rather than quick scores.

What are the key initiatives taken by Bandhan Life Insurance to increase consumer awareness about the importance of insurance?

Bandhan Life Insurance approaches awareness like a popular actor bridging art house cinema and mainstream blockbusters, making complex stories accessible to all. Bandhan Life offers short, local-language explainer videos, interactive Q&A sessions, and relatable real-life examples to simplify the insurance journey. We host workshops, and partner with financial advisors who act like “cultural translators”, ensuring people grasp the value of a safety net. By drawing parallels to everyday scenarios – like investing in a family’s comfort or securing a child's education – we help audiences see insurance not as paperwork, but as an emotional and practical support system for life’s uncertainties.

BFSI brands often rely on celebrities for their communication strategies. How does the approach of Bandhan Life Insurance differ from this?

While it’s true that brands use big-name stars, our focus is on storytelling. Instead of spotlighting a celebrity to carry the narrative, we want to showcase everyday individuals and families. Some of the most compelling programs today are driven by character actors who make a story truly authentic – rather than hinging on a single superstar cameo. You don’t need a celebrity to trust us – you need to see your own story mirrored. The Bandhan brand is built from the grassroots. So, our strategy focuses on substance, sincerity, and relatable voices, to build trust that endures.

How is AI being leveraged by Bandhan Life Insurance for delivering exceptional customer experiences, especially in an environment that is highly regulated?

AI streamlines underwriting, personalizes policy suggestions, and provides quicker resolutions – all while respecting compliance. By understanding patterns – AI allows us to anticipate customer needs and minimize friction. The result is a financial journey where complexity is edited out, leaving a smooth experience that reassures customers.

What is the marketing strategy of Bandhan Life Insurance and what forms the core of its creative communication process?

At Bandhan Life Insurance, our marketing strategy starts with understanding what people truly need. We begin by exploring the real financial concerns customers face and then use that knowledge to shape our content. We offer a blend of quick, engaging videos to grab attention, detailed articles and guides for deeper insight, and interactive sessions where customers can ask questions directly. Throughout this process, authenticity is key – our “story” must feel honest and helpful. By regularly listening to feedback and refining our approach, we build trust and keep people coming back, confident they’ll find the information and support they’re looking for.

What is the marketing budget, and ad spending of Bandhan Life Insurance for the year 2025?

Think of Bandhan Life Insurance’s budget like managing an IPL team roster – you don’t just buy the most expensive players; you build a balanced side. While exact figures are off-limits, the philosophy is clear: invest where engagement and understanding grow. Instead of splurging on short-lived star campaigns, we prioritize consistent outreach, educational content, and meaningful customer ties. Just as a well-rounded cricket squad focuses on depth rather than one marquee player, we focus on sustainable strategies. Every rupee aims at forging lasting connections, ensuring that when customers need guidance, they remember Bandhan Life’s steady presence rather than a fleeting billboard they once passed by.

How has been the performance of Bandhan Life Insurance in 2024 and what are the growth projections, and expansion plans for 2025?

The year 2024 was about strengthening our fundamentals. Bandhan Life Insurance expanded our offerings and deepened our engagements across all our touchpoints. In 2025, we plan to step up our game. Think broader product lines that address diverse life stages, more localized content, and strategic geographic expansions. By staying true to our customer-first ethos and continuously fine-tuning our approach, we aim for steady, meaningful growth – much like a team that improves season after season, winning trust and momentum over time.