Faayde Ki Baat is trying to increase the consideration amongst citizens to think of availing benefits of General Insurance products: C R Vijayan

India's statutory body for General Insurance, General Insurance Council (GI Council) recently launched a campaign named, Faayde Ki Baat, aimed at educating and spreading awareness about non-life insurance.

The General Insurance Council consists of 25 General Insurance, 11 Re-insurance, 2 Specialized Insurance and 6 SAHI (Standalone Health Insurance) companies in India. In an exclusive conversation with Medianews4u, C R Vijayan, Deputy Secreatary at General Insurance Council spoke about the campaign and much more.

Tell us about the campaign Fayde Ki baat and the objective behind creating the campaign?

This is a PAN India Insurance Awareness and Education Campaign launched by the General Insurance Council, a Statutory Body formed under the Insurance Act.

It is an Association of General, Standalone Health, Specialized and Reinsurance Companies of India. The objective of the campaign is to create awareness amongst Indian citizens about the benefits of general insurance products and motivate them to avail the various insurance products highlighting their value proposition on a daily basis.

Council on behalf of the Industry is trying to increase the consideration amongst citizens to think of availing benefits of General Insurance products and thereby increase the Ownership of General Insurance Products. Further, the focus is on getting lapsed users to renew their insurance considering the benefits of the same. For this Purpose, GI Council is using the three Categories of General Insurance which are more popular and known which are Health, Motor and Home Insurance.

What were some of the insights that helped in the creation of the campaign?

A pre-campaign survey showed that citizens are still looking at lack of returns in General Insurance and have not fully understood the benefits of having General Insurance Products. There was also a Mental block to some extent which made people think that under General Insurance Products like Health give a benefit only when something bad happens. We have tried to address this by creating films that convey the benefit of having General Insurance products like Health which helps in getting you treatment in best hospitals of your area and with a cashless facility or Home Insurance which provides you comprehensive cover against natural perils, burglary and theft and fire damages or motor insurance which not only provides you reimbursement of repair costs / Cashless repairs at select garages but also ensures that you have the Mandatory Third-party Insurance policy which is required as per Law.

Tell us about the Target audience of the campaign. The setting of the TVCs seem to target a lot of Tier-II cities and beyond

Yes, Tier I/ II/III cities and towns with Population of one lac and above. Population in the age group of 22 to 50 mainly who may be the decision-makers in a family.

Any specific reason to not associate with a celebrity as the ambassador for the campaign?

Being Education and awareness Campaign and also due to the fact that we are not building any Brand it was felt that the association of celebrity may not be required.

What are your expectations from the campaign?

Increase in consideration of General Insurance by Citizens and also Ownership of Insurance so that more and more people are benefitted by these products since there are still a large number of households who lose their savings due to costs incurred in case of an Unforeseen illness / Natural calamities like floods or damages to own motor vehicle due to unfortunate accidents. Past incidents of floods at various states have shown that still many people do not have home insurance which does not cost much and can be easily availed through a simple process.

Source: Medianews4U.com