SBI Life Insurance, one of the most preferred life insurance companies in India, has recently rebranded itself to stay in-tune with the current mindset of its consumers. The new brand line for SBI Life says “Apne Liye, Apno Ke Liye”. This goes with the core belief of the company- “independence in thinking”. It also highlights the attempts of the insurers to think about their own wants as well as securing their loved ones’ needs.
The purpose of SBI Life to become an enabler for its customers rather than just being a security provider is very vast and thus, the new brand identity will be in alignment with its broader purpose of facilitating people to pursue their individual aspirations.
Further, to create a holistic and multi-sensory brand experience, they have a musical logo (MOGO) which has been created by BrandMusiq. A digital video and TVC have also been launched which showcase people pursuing their individual aspirations while also taking care of their family’s needs and responsibilities. Moreover, their brand color scheme and logo are very fresh and vibrant while the wordmark “L” also has a symbolism with Life Insurance and Liberation.
SBI Life has worked with the brand consultancy Chlorophyll to bring about their rebranding. On this collaboration, Kiran Khalap, co-founder, Chlorophyll Brand Consultancy, said “The challenge was like a four-way tightrope walk. Find one single insight that could make the brand relevant to metro-millennials, retain the loyalty of tier two and three towns, put distance between SBI Life and others and finally, give SBI Life a distinct identity. We found it, thanks to the patience of the team.”
Ravindra Sharma, chief, brand, corporate communications and CSR, SBI Life commented, “Our extensive research comprising countless conversations with consumers, business partners, employees and other stakeholders have indicated 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 one.”
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