Abstract:

Marketing in India, with its economic and social contrasts, is often likened to dealing with several markets at the same time. The population of more than one billion differs enormously with 15 different languages, social customs and live under varying states of economic development, from the vastly affluent to the destitute.The personal and general insurance market, hitherto dominated by governmental monopolistic monoliths – Life Insurance Corporation,General Insurance – had to make way for a slew of private players that paired with local financial institutions to revolutionize the insurance market in India.This paper describes the initiatives adopted by ING Vysya life insurance to provide a distinctive and compelling brand experience to consumers.All this had become possible by understanding behavior dynamics, need states, creating rapid segmentation models and developing value based offerings and services to re design their own product life cycles.