Wednesday, February 2, 2022

With A Purpose To Liberate Individuals To Pursue Their Aspirations, SBI Life Embarks On Brand Reimagine Journey

* Inspiring consumers to pursue their own individualistic aspirations while simultaneously fulfilling family’s needs, the private life insurer unveiled the brand’s evolution towards becoming an ‘enabler’ for its customers beyond a mere security provider

The pandemic has inevitably reshaped the consumer attitude towards buying insurance. Rather than being a ‘security provider’ individuals now expect life insurance to be an ‘enabler’ that will help them fulfil their aspirations and secure their family’s financial future. Recognizing the need to cater to changing consumer mind-set, SBI Life Insurance, one of the most trusted private life insurers in the country, unveiled its reimagined ‘Brand Identity’, which is a unique expression of the brand’s core belief i.e. ‘Independence in thinking’.

Brand consultancy ‘Chlorophyll’ has closely worked with SBI Life on the rebranding exercise. Deciphering the changing societal value system, consequent evolution of individual attitudes and accordingly align the iconic brand SBI Life, to address and serve the changing aspirations of new India.

SBI Life’s brand line has also been redefined to ‘Apne Liye, Apno Ke Liye’ which showcases the insurers’ unique attempt at enabling individuals to explore their own ‘wants’ while securing the ‘needs’ of their loved ones. SBI Life’s brand assets have also been redesigned aligning with the insurer’s unique identity, combining the strong lineage of the parent brand identity with a modern wordmark ‘Life’.

The new SBI Life brand symbolizes individualism and enables individuals to strike a balance between their own wants and their family’s needs, which sits perfectly with the lives of today’s consumer. This re-imagined ‘Brand Identity’ features vibrant colour scheme and fonts, an inspiring brand line and a bold ‘L’ shaped brand device which denotes both ‘Life insurance’ and ‘Liberation’.

A new sonic brand identity has also been devised to create a deep multisensory experience, thereby amplifying the overall brand experience for all stakeholders. The musical logo (MOGO), which is a delightful symphony encapsulating modern and forward-looking sounds was developed by ‘BrandMusiq’. SBI Life has also launched a heart-warming digital video showcasing how individuals are embracing life in pursuit of individual aspirations without compromising on familial responsibilities.

Link to the video:

The digital video encapsulates the emotions of a young man who taking a step towards one of the most decisive milestone in life, of getting married. The video describes the seven vows he promises to take with his partner along with a vow for himself, to retain his individualistic identity. One of the vow talks about sharing all his belongings with his better half, along with a vow to self, to continue pursuing his aspirations.

Speaking about SBI Life’s re-imagined brand identity, Mr. Ravindra Sharma, Chief of Brand, Corporate Communications and CSR, SBI Life said, “Brand SBI Life is not limited to a re-imagined identity or a TVC, fundamentally it is an entire belief system that we all live by, it is an experience that our customers and stakeholders remember us for. Our extensive research comprising countless conversations with consumers, business partners, employees and other stakeholders have indicated to a new evolving individualistically determined India. The consumer of this new India, expects insurance to be an enabler, in their pursuit of individualistic ambitions, which is way beyond the role of a mere financial tool. Aligning SBI Life’s brand journey to the evolving consumer attitude in the new India, we’ve undertaken a strategic rebranding exercise, where we envisage brand SBI Life to play the role of an ‘enabler’ for the consumer to follow their own individualistic aspirations, while simultaneously taking care of the needs of their loved ones.” He further added, “The brand’s core i.e. ‘Independence in thinking’ is our anchor, that guides all of our actions, behaviour and communication with our stakeholders. With the re-imagined brand SBI Life, we hope to serve the needs of our consumers and fuel aspirations of the new India.” 

About SBI Life Insurance:

SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.

Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.

Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.

SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 947 offices, 18,498 employees, a large and productive individual agent network of about 135,902 agents, 64 corporate agents, a widespread bancassurance network of 14 partners, more than 29,000 partner branches, 110 brokers and other insurance marketing firms.

In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.

SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2020-21, the Company touched over 4.30 lakh direct beneficiaries through various CSR interventions.

Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of ` 20.0 billion and a paid up capital of ` 10.0 billion. The AuM is ` 2,568.7 billion.

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(Numbers & data mentioned above are for the period ended December 31, 2021)

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