Kotak Mahindra Life Insurance Company, commonly known as Kotak Life Insurance, has announced a campaign with the name of #SelfieWorthTaking. The campaign is one of its kind initiatives taken by this life insurance provider wherein a selfie of an insurance prospect is used to determine the payable premium for purchasing a term insurance plan.
All you need to do is to log on to the website ‘insurance.kotak.com/selfie’ from your smartphone, click a selfie and get the quotation of the term insurance premium that you have to pay. The #SelfWorthTaking platform uses facial analysis algorithm to determine the premium of a term insurance plan. The main aim of running this campaign is to make the experience of selfie clicking memorable and meaningful.
The head of marketing in Kotak Mahindra Life Insurance Company, Jasneet Bachal says that it is an innovative experience that is playing a powerful role in extending the insurance narrative to the younger and digital savvy generation. This campaign is also breaking the barrier that taking an insurance plan is a time taking, difficult, and expensive as well. This is because taking a term insurance plan is now as easy as taking a selfie.
There are different life insurance types available in the market and a term insurance plan is one that offers death benefit in case of death of the policyholder during the policy term. The approach of getting term plan through selfie is getting so many positive responses because of its simpler and less complicated process. You can also increase the insurance cover of your term insurance plan by including some add-ons like accidental death benefit, disability cover, etc. You can also include critical illness cover by selecting ‘Kotak Critical Illness Plus Benefit’ add-on by paying some additional premium.
‘Selfie’ was included in the Oxford Dictionary on November’ 2013 as the ‘word of the year’, however, this word is not new and was used for self-expression even since the inception of the camera. The invention of the smartphone has accelerated the trend of the selfie. Therefore, with this campaign, Kotak Life Insurance is trying to make the selfie clicking experience constructive and meaningful.
About Kotak Life Insurance Company:
The Reserve Bank of India gave the certificate of banking to the Kotak Mahindra Financial Limited (KMFL), a flagship company of Kotak Mahindra Group, in the year 2003. Before this, the Kotak Mahindra Group was providing financial services in India since 1985. However, after getting the banking certificate, the Kotak Group started banking operations in India and renamed itself as Kotak Mahindra Bank Ltd, which is the parent company of Kotak Life Insurance Company. Kotak Life Insurance is one of the fasters growing life insurance provider of India and as per the data received, till March’ 2018, the company is providing life insurance coverage to approximately 20 million people of the country. With offering the best insurance services, the company has now come up with one of the most innovative campaigns #SelfieWorthTaking.