Interview with Yateesh Srivastava, CMO at AEGON Religare Life Insurance Co Ltd.
PW: As a marketer what would you say are your current priorities?
YS: This marketing year should see attention given to improving Customer Data Management & Analytics and Social Media & Digital Communication. Additionally, the integration of a Customer Self Service attitude into our business system and dedication to E-commerce and revamping our website.
PW: At AEGON Religare Life Insurance Co Ltd, how has technology played a role in customer acquisition or retention?
YS: We use technology to help customers buy policies online through a fully self-service option. In addition we use technology to offer payment options to our customers as well as create avenues for engagement. Data from our existing customers – demographic and transactional – will be used to create opportunities for engagement to enable service, cross-sell and up-sell.
PW: How has technology played a role in new product development, market expansion or other areas?
YS: In life insurance sales, online was a channel of distribution that was non-existent. At AEGON Religare, we designed a product and process aimed at creating a pure online channel and create a new mode of distribution in life insurance. Technology was at the backbone of the product offering to help create a new channel.
PW: Do you have a separate budget for the IT component of marketing? And how aligned are the marketing and IT functions in the organization?
YS: No we have different budgets but during the planning exercise the two departments sit together to create commonality of goals and objectives.
