IBC: We have always been able to do the right thing for the consumer: Yashish Dahiya
In conversation with Yashish Dahiya, CEO & Co-Founder, PolicyBazaar.com Group of Companies and Satyabrata Das, COO, MediaKeys India
In a fireside chat at the exchange4media’s India Brand Conclave on Thursday, Yashish Dahiya, CEO & Co-Founder, PolicyBazaar.com, Group of Companies spoke about the 'Best practices to make the most of customer insights in the era of fast-evolving media and technology landscape' with Satyabrata Das, COO, MediaKeys India.
Watch the session here and scroll down to read:
Discussing the use of technology in today’s fast evolving digital space, Satyabrata Das questioned Yashish Dahiya on how PolicyBazaaar implemented technology and new innovations in order to reach out to consumers. In response, Yashish said, “70% of our sales are through life insurance and health insurance. From a company point of view, the most profitable and best customer is the one who never uses the policy. But just in case there arises a need because of any untoward incident, the claim must be paid out. Individuals today are well aware of the risks involved in each and every product. The biggest issue today is not technology but the customer who is ever ready to explore it. Talking about risks, the biggest risk is when a consumer already knows that he’s about to claim a policy within a few months or even days. This is the risk one has to guard against.”
Discussing the problems that exist in this very risk, Dahya said that the price of such products tends to rise easily, once the consumer gets to know that he is in need of it. Thereby, talking about the ways to keep the price low and stable Yashish said, “This is where we use a huge amount of data in trying to identify customers who already know that they are going to pay. It is true for health and life insurance that we use a lot of techniques and decisive technologies, to make sure that part of the customer set is kept out of the purchase cycle. Today, one can buy Rs. 1 crore health cover for the price of Rs. 5 lakh health cover. We have 3 such plans available only on PolicyBazaar. The reason behind this is because the company is now confident that we are filtering enough. In health insurance, we are operating at a claims ratio of 26% where the retail market is 85%. Over time with the inflow of such data, it allows a company to become confident regarding its positioning and reach. So, by reducing prices or giving a much higher cover at the same price, we at PolicyBazaar are able to use data fundamentally to give customers an offering, which is exclusive &and can’t be found elsewhere. That’s the way we use data, in the biggest possible manner, as we always try to do the right thing for our consumers.”
Pointing out at PolicyBazaar’s strength Yashish spoke about the communication that they play on, the fact that if one gets older, there are age-based events which turn expensive with time. Focusing on the way PolicyBazaar talks about products Yashish said, “ Besides us, who else in the market is talking about the products. That’s the area which has been cornered for around 10 to 11 years now and this allows us to stay relevant somewhere for the new customers.”
When asked about the PolicyBazaar’s association with SoftBank, Yashish said, “In the entire e-commerce world, you need money to build a business, but in the last 5 to 6 years, rather execution, the focus seemed to be who has more money. We chased SoftBank for the last 2 years and convinced them to come on our cap table. Then again, SoftBank is also involved when it is about companies that are financially innovating in a significant way, by getting to a billion dollar plus evaluation in the market.
Concluding the fireside chat Satyabrata Das asked, “Now that you have reached that 100% growth, attained a high consumer base etc, brief us on how Amazon Polly helping the firm in terms of growth.
Responding to this Yashish said, “We have 2 million minutes of talk time a day. We are responsible largely for selling risk products, so for us to recognize the risks across the whole spectrum is very critical. This is when Amazon Polly comes in. The real use case that we are building here is to identify risk in real time. It is a game changer for the industry. If you can change the claim ratio, you can change this industry.”
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur
The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more
With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.
The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Swapan Seth's new book 'COOL' is out
The book is a reflection of the author's 'eclectic taste across categories'
Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."
The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."
COOL has been published by Simon & Schuster India and is available on Amazon.
Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.
He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Disney Star signs 9 sponsors for Asia Cup PAK
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board
e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.
According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.
As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.
A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.
Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Sorted 360 wins creative & social media mandate of Reliance Mall
The agency will manage offline and online campaigns for Reliance Mall
Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.
“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.
“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.
"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."
"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
KlugKlug onboards Hemang Mehta as Country Manager for Indias
Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments
KlugKlug has appointed Hemang Mehta as its Country Manager for India.
Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy
Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.
Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."
Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp








Share