According to Ravindra Sharma, Chief of Brand, Corporate Communication, and CSR at SBI Life Insurance, even as digital consumption grows, television still plays a crucial role.
As India’s life insurance sector grapples with low penetration levels and changing consumer mindsets, SBI Life Insurance is refining its focus on protection, long-term financial preparedness and purpose-driven brand storytelling. The insurer’s latest campaign signals a larger intent to make insurance discussions more engaging and meaningful, especially for younger audiences beginning their insurance journeys.
As part of this strategy, SBI Life has roped in cricketers Rishabh Pant and Ravindra Jadeja as its first-ever brand ambassadors.
Sharing insights on the brand and business roadmap, Amit Jhingran, Managing Director and CEO, SBI Life Insurance, said that given the long-term commitment insurance entails, communication must be rooted in credibility rather than loud visibility—particularly in a market saturated with celebrity endorsements and sports-centric advertising.
Jhingran explained that SBI Life has consciously avoided relying solely on star power, choosing instead to weave relatability and reassurance into its messaging. “We have associated with familiar faces, but we are not positioning them purely as celebrities. They appear as characters people can identify with in everyday situations,” he said.
The insurer’s latest campaign introduces fictional personas ‘Jolly’ and ‘Polly’, created to mirror the inner dialogues individuals and families experience while juggling aspirations with financial responsibilities. Anchored in SBI Life’s brand philosophy, the narrative reframes life insurance as an enabler of ambition rather than a compromise.
Beyond communication, SBI Life’s strategic focus is also being shaped by shifts in the demographic profile of insurance buyers. With millennials and Gen Z increasingly entering the category, the company is strengthening its product portfolio to better align with their financial habits and life stages. Jhingran noted that younger consumers have different aspirations and planning timelines compared to previous generations. “They want to begin early, but they also look for affordability and flexibility. We are enhancing our protection offerings with simpler, cost-effective products that can be adopted early in one’s career,” he said.
He added that future-focused financial planning is also being supported through non-participating guaranteed products. “Protection remains a core focus, along with guaranteed solutions that help consumers plan for long-term life goals,” Jhingran said.
From a marketing execution perspective, SBI Life is also rethinking its media deployment to strengthen storytelling and reach. Ravindra Sharma, Chief – Brand, Corporate Communication and CSR, SBI Life Insurance, said the latest campaign marks a shift away from rigid online-offline divides.
“The approach is audio-visual first. We want audiences to see the story and emotionally connect with it,” Sharma said, highlighting that visual narratives were prioritised to build familiarity with the characters and the message.
For the campaign, the media mix is audio-visual led, with nearly 60–65 percent allocated to offline channels and the remaining 30–35 percent to digital platforms. Beyond this campaign, Sharma said the company continues to follow a balanced media strategy to effectively engage its target audiences.
Currently, the insurer is focusing on consumers aged 22–40, a segment it believes will fuel category growth in the coming years. “This cohort will see growth in income and purchasing power,” Sharma said.
While digital consumption is on the rise, Sharma pointed out that television still plays a critical role, especially in reaching India’s vast middle segment. “Alpha India is relatively small. India 2 is the largest segment, and that’s where a blend of offline and online media becomes essential,” he explained.
On balancing brand-building and performance marketing, Sharma stressed that the two are interconnected. “Branding helps enter the consideration set. Once the consumer is there, performance marketing drives conversion. Awareness, consideration and performance work together,” he said.
In a category where product differentiation is limited, SBI Life views reach and belief as its strongest brand assets. “Trust has become a basic expectation. Belief is what ultimately influences choice,” Sharma said.
He also highlighted a gradual move towards purpose-led marketing within the organisation. “Brand purpose cannot just exist on paper. Every initiative must be meaningful for consumers and demonstrate relevance in their lives,” he said.
On the role of technology, Sharma noted that artificial intelligence is being deployed across servicing, marketing and communication, though its full impact is still unfolding. “AI has shown results in specific areas, and some elements are being used in the current campaign as well,” he said.
Looking ahead, SBI Life’s marketing strategy will prioritise consistency and long-term familiarity over short-term visibility bursts. According to Sharma, sustained storytelling will be crucial in expanding the category’s relevance across the country.
“If we can create narratives that resonate deeply and reach wider audiences, it not only benefits the brand but also reinforces the role insurance can play in everyday life,” he concluded.
