How Bajaj Allianz Life Insurance uses its blog to educate & empower users to make an informed decision on financial planning

Case study by Bajaj Allianz Life Insurance where it used its blog to spread financial literacy by being a knowledge provider, submitted under the category: ‘Best Branded Content Site’ for LI Content Marketing Awards 2017

The Brand

Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Ltd and Allianz SE. While Bajaj Group has more than nine decades of experience in the local market, Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world with over 125 years of experience in the financial services sector. Bajaj Allianz Life Insurance Company was incorporated on 12th March 2001 and started its operations on 3rd August 2001 with a commitment to offer premium financial solutions providing financial security to individuals and their families. It is one of India’s leading private life insurance companies today.

Problem Statement

Financial literacy in India has consistently been poor compared to the rest of the world. Here, people are unaware of the benefits of financial instruments and are therefore, bereft of any financial security. The lack of basic financial understanding leads to ineffective investment decisions.

Moreover, it is noted that people’s interest in Life Insurance never seems to peak, unless there happens a mishap in their lives when the need of being insured gets accentuated.

In this scenario, Bajaj Allianz Life Insurance Company took it upon itself to provide financial understanding to the people so that they can provide financial security for their family and for themselves. For the same Bajaj Allianz Life Insurance initiated ‘Knowledge Capsules’ blog to educate people on financial planning. Knowledge Capsules blog is a micro site which is linked to our corporate website. It revolves around topics that aid readers in understanding financial planning, life insurance know-how and terms, so that they can make an informed financial decision and live a worry life.

From a User Experience standpoint, our readers were facing an issue, navigating through our website which led to a dip in traffic and user delight. Moreover users would have trouble communicating directly with the Company and would have to be redirected to the website to speak with us.

With the intent of serving the best possible experience to our customers along with trending content, we revamped our blog to allow seamless navigation, systematic segregation and easy readability by upgrading the UX and UI elements of Knowledge Capsules. Keeping up with the definition of communication being a two way street, the new design has a footer option where a reader could reach out to the Company directly and request a call back, if they’re interested in our products.

Identified objectives

  • Spreading financial literacy by being a knowledge provider which enables individuals to live the Company’s promise of a worry free life
  • To educate and empower users to be able to make an informed decision in regards to financial planning
  • To simplify Life Insurance and the various intricacies of it, in an engaging and informative format
  • To create awareness about Life Insurance as a feasible and ideal protection tool against the uncertainties of life
  • To promote Life Insurance as an investment and tax-savings financial instrument
  • To promote financial inclusion and ultimately financial stability in India by talking about Life Insurance as a medium of financial inclusion

Strategy & Execution

Preceding our approach with an understanding that a majority of our audience belongs to the millennial generation, hailing from the top metros of India, we provide them with the content they want to read. The content strategy therefore incorporates the use of trending topics to elucidate on the nuances of Life Insurance, content shared by our Industry thought leaders which provides answers and intrigues curiosities, and of course with off-beat content that ensures the reader understands the most difficult concepts in the easiest way possible.

We have made Knowledge Capsules blog a repository of quality information, thought provoking content on varied topics of insurance and financial planning, tools and calculators, videos and more.

The blog has been divided under the following segments:

  • Life Insurance Basics – Communicating the basics of life insurance to help readers understand & choose the right type of insurance policy which best suits their needs.
  • Insurance Decoded – Demystifying life insurance jargons and concepts
  • Tax Insights – Sharing implications of the latest Income Tax developments and ways and suggestions to save Income Tax
  • Knowledge Centre – Comprises FAQs and Brand Association Announcements
  • Tools & Calculators – Calculators for helping viewers ascertain life insurance premium and cover and plan for future financial goals

  • Videos – A video library which stores informative videos on our brand, products, apps and events
  • Balician Speaks – Curated articles from Company’s spokespersons highlighting the importance of Life Insurance and financial planning

  • Financial Planning – Interesting reads in line with trending news, that affects the daily lives of people, influences the audience about similar situations in their lives which could be an #IfsOfLife and offering probable solutions against these #IfsOfLife

Results

Implementing the aforementioned strategy has resulted in a 303% YoY growth in website traffic from Aug 2016 to Aug 2017. Similarly, 638% YoY growth has been observed in terms of number of users from Aug 2016 to Aug 2017.

Key Highlights:

  • YOY traffic this calendar year has gone up by leaps and bounds with the highest growth reported in Feburary’17 (38,578 page views) with a 1250% growth over February’16 and a growth of 506% for March’17 (32,583) from March’16 (5,381)
  • MoM traffic went up by 392% in February’17 (38,578) from January’17 (7,841)
  • Overall Growth in traffic YOY has been 303% from 34,543 till August’16 to 139,354 till August’17
  • Total Users have grown by 638%  from 6,141 till August’16, to 45,297 till August’17
  • Most read blog post has been an infographic titled “Checklist to follow while filling your income tax returns” (23,090 page views)

Observations

The biggest learning from the Knowledge Capsules blog, has been that audiences will respond favourably to things they connect with. Be it with an article that connects a trending movie with a Life Insurance concept or an Industry leader answering a question that some people may feel too uncomfortable to ask or never would have thought about.