Sandip Chakraborty is the Sr. Vice President, Digital and IT at Bharti AXA General Insurance. He has over 24 years of work experience in the field of insurance with 11 years of experience in the field of Information Technology and Project Management.

Sandip started his career with National Insurance Company Limited. He worked in various departments in Regional and Operating Offices and gained expertise in insurance with specialization in Marine and Project Insurance. Prior to joining Bharti AXA General Insurance, he joined IffcoTokio General Insurance. He was the Head of Business Process and Management Group and was responsible for setting up the IT Infra and business applications on a pan-India level to cater to all business requirements.

In an exclusive interaction with India Digital Review, Sandip talks about reaching out to the consumers through the digital medium.

How does the digital medium figure in Bharti AXA General Insurance's plans to reach out to consumers?

The insurance industry in India is slowly but steadily moving towards the online medium. With only 9% of the population online, there is a huge untapped potential in this sector. The digital platform has made lives easier and businesses across categories are optimising their presence here to increase their reach to customers. The digital medium is a primary focus for Bharti AXA GI. We in fact conducted a survey to study the needs and demands of customers and their online buying pattern of insurance. Based on the insights collected, we recently launched a user friendly website to ease the online purchase of insurance.

Tell us more about newly launched website www.bharti-axagi.co.in. Which services are you offering through the portal?

Bharti AXA GI’s new website is easy on the eye and provides a user friendly interface across all categories of insurance. Some of the features that provide a user friendly buying experience are:

- Transparency – instant quote; clear mentions of what you get and what you don’t (inclusions & exclusions in policy) and clear mentions of premium for the products and add-ons purchased
- Easy to buy, innovative bouquet of products and add-ons
- Instant issuance and mailing of policy document
- De-jargonising – technical terms explained clearly
- Ease of purchase
- Unique Offer page displaying multiple product/plan offers during quick quote
- Competitive pricing

We are also looking at enhancing our website in the near future for retail claims with the introduction of end to end solutions to ease the entire claims process for customers, ranging from claims notification, reserving, investigation, survey and assessment to claims payment. The new website is a strategic step and we hope it will only boost the overall insurance penetration in the country by widening the access to insurance across the country, irrespective of physical presence.

Which according to you have been some of the most exciting online campaigns that the company has initiated for its brand so far?

We use the online medium extensively to promote all our products. We use different channels like our website, social media, SEO and SEM as well as display media campaigns in good measure for this. A recent online campaign to note has been around motor insurance offerings, where we used SEM extensively. We are also looking at launching an online campaign around our health insurance offerings very soon.

What answers do you seek from your digital advertising agencies and digital media partners while promoting your brand on internet?

We work closely with our ad agencies and online partners to promote our brand. Some of the key elements we work on are brand saliency/recall, share of voice, lead generation, directing traffic towards website, customer experience, responsive web design/mobile optimization etc.

What scope do you see in the social media space? Have you seen any transactions happening through social media or is it just an information dissemination platform?

India is already the third-largest (behind China and the US) when it comes to internet marketing in terms of users. Social media is a huge networking platform and an important consideration for any organization to reach its desired target customers. We look at social media as an effective platform to solicit feedback from customers, disseminating more information on products, providing support in claims wherever required etc.

Do you also have a dedicated YouTube channel? What kind of content you share there?

Yes, we have a dedicated YouTube channel and are currently in the process of enhancing it. We share marketing campaigns, employee feedback, customer feedback, communication from CEO etc on this channel.

In the context of BFSI (Banking, Financial Services and Insurance), both online and offline transactions take place. But there is a perception that people research and compare products online and buy them offline. What do you think of this perception? Is it likely to change anytime soon?

The growth in internet usage has led to the rise of E-Commerce. The comfort level for conducting financial transactions online has been increasing steadily and this has had a ripple effect on the online purchase of insurance as well. The future of the online insurance industry with respect to online transactions is very bright. Online platforms are faster and smarter, more educative, informative and intuitive, making the purchase possible with just a click. Further, even in terms of post purchase interactions and feedback, the online medium is easy and convenient.

Is there an online channel through which consumers can buy Bharti AXA Insurance without physically going?

Our new interactive and user friendly website allows customers to get a quote on our products online and once the decision is made, purchase of the insurance is also possible online. We offer Motor & Health policy buying online in a very convenient manner.

What are Bharti AXA General Insurance's current digital spends? Will they move in terms of growth and focus this year?

As indicated earlier, the digital medium is very important to us. We are spending adequately to grow this channel manifold. For this purpose, in addition to our local spending, we are bringing best practices from our JV partners who are very prominent in digital world. In addition to convenience and best price offered to the online customers, we strive towards bringing transparency and security for the customers to transact with us.

How do you see your marketing objectives aligning with what the online medium offers two years down the line?

Currently we are very focused on digital marketing. In the coming years the thrust on digital will only be more for us. With the fast growing penetration of internet, customers are fast moving towards this medium and this will soon be the avenue to address the maximum captive audience. Further, with e-commerce, the online purchase of insurance is set to grow. In fact through the digital medium, companies can increase their reach even in tier 1 & 2 cities and towns where they may or may not be physically present. Even for creating awareness, the digital medium is where the market is moving. Hence, from sales to PR and to brand building perspectives, the importance of the digital platform is growing. It is slated to become a crucial component of a company’s marketing objectives, as crucial as television or print.