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Trust must be paired with convenience for life insurance customers: Kotak Life’s Ashish Nair

As part of the jury for Social Samosa’s 40 Under 40, Ashish Nair walks us through his career spanning both the agency and the brand side, the lessons learnt along the way, navigating the JFM period, challenges marketers need to pay attention to and his advice for young professionals.  

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Shamita Islur
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Kotak Life’s Ashish Nair

The January-February-March (JFM) period is crucial for BFSI marketers, where heightened competition, business goals, and satisfying the consumer demands a finely tuned strategy. For Ashish Nair, CMO and Head - Customer Value Management & Health Tech at Kotak Life Insurance, this season represents more than a quarter – it’s an opportunity to refine marketing. 

Drawing from over 21 years of industry experience, Nair emphasises the need for a proactive approach, precision, efficiency and a deep focus on the consumer. According to him, this period isn't about bombarding audiences with campaigns; it’s about deeply understanding consumer needs, delivering personalised and frictionless experiences, and embracing technology to build meaningful engagement.

An important aspect of crafting these experiences for consumers is having strong teams. Nair shares that mentoring and upskilling teams to understand trends, consumer behaviour and emerging tools enhances individual performance and gives the organisation a competitive edge. 

Nair’s perspective on marketing is shaped by both the agency and brand sides of the advertising world. His early years in the agency space exposed him to the creative and strategic aspects of campaign execution and left him yearning for a role where he could influence the larger narrative. This led him to transition to the client side, where he contributed to campaigns such as ICICI Prudential’s Jeetey Raho’, ‘Bande Ache Hai’, and ‘World's First Best Jobs’. These campaigns not only resonated with audiences but also revealed to Nair that great marketing isn't just about creative execution but also about building strategies based on real consumer insights and aligning them with business goals. This connection continues to drive his approach today as well.  

Nair’s time on the agency side taught him the importance of creative rigour and collaboration, while his brand-side roles instilled a business-oriented mindset. This blend informs his approach to partnerships, where he focuses on trust and mutual respect to achieve outcomes. 

As part of the jury for Social Samosa’s 40 Under 40, Nair walks us through his career spanning both the agency and the brand side, the lessons learnt along the way, navigating the JFM period, challenges marketers need to pay attention to and his advice for young professionals.  

Edited Excerpts:

Ashish, reflecting on your career in the BFSI industry, what pivotal moments or experiences have shaped your journey to becoming the CMO and Head of Customer Value Management and  Health Tech at Kotak Life Insurance? 

Looking back, throughout this nearly two-decade-long journey, every mile walked has come with a handful of lessons and growth. My career began on the agency side of advertising, where I learned the fundamentals but often found myself executing pieces of someone else's strategic vision. While valuable, this experience fueled my desire to transition to the client side, where I could help shape the larger strategic narrative. 

This move opened up exciting opportunities, including work on iconic campaigns like 'Jeetey Raho', ‘Bande Ache Hai’ and 'World's First Best Jobs'. While these projects were creatively fulfilling and achieved great engagement, they taught me something even more valuable – the power of understanding our consumers deeply. I discovered that great marketing isn't just about creative execution; it's about building strategies based on real consumer insights and aligning them with business goals. This connection between consumer understanding and business strategy fascinated me and continues to drive my approach today as well.  

I was fortunate to have mentors and leaders early in my career who emphasised the importance of understanding the consumer. This foundation helped me sharpen my strategic approach and brought me closer to integrating consumer insights with business strategy, to deliver impactful solutions. 

My tenure of over a decade at ICICI Prudential Life Insurance proved to be a cornerstone of my professional development. Managing diverse portfolios gave me a comprehensive view of how various marketing elements work in concert to drive business outcomes. 

This experience reinforced a crucial lesson: becoming a well-rounded marketer requires understanding how different components integrate to form a cohesive strategy. 

What continues to energise me is marketing's dynamic nature. The past decade has witnessed a fundamental transformation in the marketing field – traditional as we knew it has evolved with digital becoming not just a channel but a foundational element of any strategy. Thriving in this environment demands a strong foundation in the basics, coupled with a mindset of continuous learning and adaptability. 

Today, as the CMO at Kotak Life, these lessons have become invaluable. The ability to think strategically while staying close to the consumer has enabled me to take on responsibilities in addition to marketing, such as driving business outcomes in Customer Value Management (CVM) and Health Tech. These areas operate at the intersection of innovation, technology and customer value—a space that is as challenging as it is rewarding. 

This journey has taught me that success lies in understanding the whole picture while staying rooted in the basics of consumer connection and strategic thinking. 

Your experience spans brand-building campaigns like 'Jeetey Raho' and roles rooted in market research and digital marketing. How have these diverse experiences helped you tailor your strategies for engaging life insurance customers, where trust and long-term value play such critical roles? 

The BFSI sector addresses a wide spectrum of needs, ranging from immediate, short-term requirements to long-term wealth creation goals. However, insurance — particularly life insurance — faces unique challenges. This sector is seen as complex, consumers are apprehensive to invest and also there is a lack of immediate intent. Therefore, trust becomes the cornerstone of this industry.  

Customers make decisions today based on the promise of returns decades into the future. They are investing their money now with the expectation of benefits far down the road. This inherent nature of life insurance makes trust the most critical currency for engagement. 

Over the years, my journey across diverse facets of marketing, including brand-building, market research, digital marketing and business strategy, has given me a nuanced understanding of what it takes to build and uphold this trust. The digital transformation of the industry has further presented an opportunity to amplify transparency and reliability through a comprehensive digital strategy that leverages data, technology and new-age channels. 

Yet trust alone isn't sufficient in today's landscape. It must be paired with convenience. Modern customers expect seamless experiences and brands that fail to deliver risk becoming irrelevant. Every touchpoint in the life insurance journey must be intuitive and frictionless, reinforcing our commitment to customer well-being. 

Equally crucial is relatability. Today's customers seek precise solutions delivered instantly. I've found that the most effective strategies combine trust and convenience with deep personalisation. 

When customers feel truly understood — when they see our solutions as specifically designed for them — they're more likely to form lasting relationships with the brand. These three pillars — trust, convenience and relatability — form the foundation of every successful strategy that shapes both brand perception and customer experience. 

Having worked both on the agency and brand side, you’ve seen the full lifecycle of campaign creation. How has this dual perspective influenced the way you approach partnerships with agencies and internal teams in your current role? 

The question itself holds the answer: be a partner. While the terms 'vendor' and 'partner' are often used interchangeably in any client-agency relationship, they represent fundamentally different dynamics. A vendor simply delivers on assigned tasks whereas a partner goes beyond by sharing insights, understanding challenges and collaboratively seeking solutions through continuous engagement.

Being on both sides has allowed me to be more empathetic to the nuances of the agency as well as brand interactions. I understand the creative rigour, strategic thinking and effort agencies bring to the table, as well as the business imperatives and expectations that brands need to balance. 

Great work emerges from the right chemistry. Trust must flow both ways—no exceptional outcome can come from one side alone. It's the combined energy of passionate individuals, each contributing their unique insights while working toward a shared vision, that brings truly remarkable ideas to life. 

What are the key lessons you've learned from the challenges you've faced in your career, and how have these lessons influenced your approach to leadership and marketing strategies? 

Everyone faces familiar challenges in their professional journey — whether it's meeting seemingly impossible deadlines, working with limited resources or staying ahead in a fiercely competitive landscape. What matters is how we respond to these challenges with agility and composure. 

Through my experience, I've developed several key principles that guide my approach to leadership and marketing: 

Clarity and simplicity drive results. Complex problems often have simple solutions when approached with clarity and focus. The key is to avoid over-complication and break challenges into actionable steps that drive progress. 

Trust in your team is essential. A high-performing team thrives on trust — the freedom to make decisions, take ownership and innovate. The best outcomes arise when leaders create space for growth while remaining available for support and guidance. 

Dependability builds lasting trust. Consistently delivering on commitments, no matter how small or large, is fundamental to building credibility. Being reliable in both communication and execution creates a foundation of trust with the management, teams and stakeholders that enables bigger initiatives to succeed. Whether it's following through on deadlines, maintaining transparent communication or delivering quality work, dependability shapes how others perceive our capabilities and intentions as a team.  

Adaptability sets the standard for growth. The ability to adapt, both in vision and execution is critical. Equally important is bringing your team along on this journey, fostering alignment and cultivating openness to new ideas and perspectives. Success in this area manifests when teams view adaptability as an opportunity for growth, empowering them to stay ahead of industry trends rather than simply responding to them. 

Alignment with purpose is paramount. An organisation’s vision is its guiding star. Every decision must align with this purpose, ensuring focus and direction.

A relentless focus on solutions defines impactful leadership. Leadership is ultimately about delivering results, regardless of the obstacles. While challenges are inevitable, maintaining a solution-driven mindset ensures consistent progress impact. 

These principles aren't just concepts—they're practical tools I use daily to navigate complexity, lead with purpose and drive meaningful outcomes.

What are some emerging trends in the BFSI industry that you believe marketers should capitalise on to remain competitive, especially during the upcoming JFM period? 

As we approach the critical JFM period, marketers in the BFSI industry need to be both strategic and proactive in leveraging emerging trends to stay competitive. Drawing from industry experience, I've identified five key areas that will define marketing excellence in the coming quarter: 

Consumer Segmentation: Gone are the days of broad-market approaches. Today's financial services landscape demands precision in understanding and serving distinct consumer groups. It's essential to connect with consumers' needs and ensure relevance in every interaction.  

At Kotak Life, we have adopted an ML(Machine Learning) model-based customer segmentation, identifying six distinct personas based on preferences, behaviours, and purchase channels. Through consumer research, we meticulously analyse the needs of these customer segments. This data-driven approach with rich insights allows us to formulate customised communication journeys for each cohort. 

This strategy allows us to deliver personalised experiences that resonate with our customers' unique needs and preferences, enhancing their journey with Kotak Life. 

Frictionless Experience: Consumer patience for complexity has vanished. Every touchpoint in the customer journey – from the buying process to post-purchase engagement – must be seamless and intuitive. A single point of friction can push them toward alternative solutions.  

Team Excellence through Mentorship: Strong marketing outcomes stem from strong teams. Mentoring and upskilling your teams to understand trends, consumer behaviour and emerging tools not only enhance individual performance but also give the organisation a competitive edge. 

Embracing Technology: The technological transformation of BFSI is accelerating. AI and ML have revolutionised core processes like underwriting and fraud detection, but their potential extends far beyond. These technologies enable us to predict customer needs, personalise services at scale and optimise marketing operations in real time. Embracing these advances isn't optional – it's imperative for survival and growth.

Enhanced Customer Engagement: In today's time, basic service delivery is table stakes. True differentiation comes from going beyond transactions to create value-rich customer relationships. At Kotak Life, our HappyYou app exemplifies this philosophy – it transcends traditional life insurance services to deliver a comprehensive suite of lifestyle benefits, creating deeper and more meaningful customer connections. 

These five principles hold true across all periods. The January, February and March (JFM) timeframe is characterised by a high level of clutter, coupled with significant inventory costs and requirements. 

During this period, embracing the philosophy of 'less is more' is essential. By narrowing our focus to a select few strategic ideas, marketers should explore them in depth and execute plans with maximum efficiency. 

With the new SEBI guidelines aiming to regulate finfluencers, how do you see this shaping the narrative and trust-building efforts in BFSI marketing? What opportunities or challenges do these regulations present for brands? 

As I said earlier, trust is paramount in the BFSI sector, particularly in life insurance. Influencers play an important role in raising awareness and making financial concepts easily consumable. However, there needs to be a framework that helps shape their content to provide accurate insights without causing unnecessary panic or euphoria. 

The new SEBI guidelines for finfluencers represent a positive development in the BFSI sector,  promoting accountability and trust. As finfluencers gain traction, it's important to create a structured environment that helps protect consumers from misinformation. 

From my perspective, these guidelines will help brands to have compliant partnerships with credible influencers. By ensuring influencers are well-informed and qualified, life insurance brands can reinforce trust with their audience, a crucial factor in this segment.

How is Kotak Mahindra Life Insurance leveraging tech-driven innovations, especially in health tech, to stay ahead of the curve? 

At Kotak Life Insurance, we have embraced health tech as a powerful value-added service to differentiate ourselves in a competitive market. In an industry where offerings often appear similar, health tech enables us to deepen customer engagement and deliver meaningful benefits beyond traditional products. 

Our HappyYou app exemplifies our commitment to customer-centric innovation in the life insurance space. Going beyond traditional insurance services, this comprehensive digital platform addresses our customers' holistic wellness needs through an integrated suite of services. From convenient diagnostic bookings and pharmacy solutions to 24/7 emergency assistance and mental wellness resources, the app serves as a one-stop wellness companion. We regularly organise expert-led webinars on critical health topics, fostering a proactive approach to healthcare. 

Recognising the growing importance of health and wellness — accelerated significantly in the post-COVID world — we are focusing on gaining deeper insights. By segmenting users into cohorts and conducting targeted research, we aim to understand their unique needs better. 

Through tailored solutions and strategic partnerships, we are committed to staying ahead of health trends and delivering value to our customers. Our goal is to ensure that Kotak Life continues to be synonymous with innovation, care and a customer-first approach. 

Could you share the challenges you foresee when it comes to marketing and the role of a marketer in 2025? 

Marketing is evolving at an unprecedented pace. Customers today are increasingly aware, pushing marketers to be more informed, agile and value-driven. Challenges, much like garden weeds, can never truly be eliminated. However, with the right approach, we can mitigate them and turn obstacles into opportunities throughout 2025. 

One of the most pressing challenges is engaging a distracted customer. Consumers are inundated with choices and content, a trend likely to grow in 2025. 

Building trust and relevance in such an environment will require creating meaningful connections that resonate deeply and stand out amidst the noise. 

The media landscape is also becoming increasingly fragmented. Offline, online, mobile, connected  TV and ever-changing algorithms demand that marketers navigate a myriad of platforms and  MarTech solutions to stay relevant. This complexity is further compounded by resource constraints. 

The demand for omnichannel presence and high-quality content continues to rise but financial and human resources often lag behind. Marketers will need to strike a delicate balance, innovating within tighter budgets and delivering impactful, human-centric campaigns in a tech-driven world. 

Another significant challenge is managing the balance between content quality and quantity. The pressure to produce content at scale can sometimes lead to a compromise in quality and insight. In 2025, success will hinge on brands prioritising thoughtful, data-driven storytelling over sheer volume. 

Workforce dynamics add another layer of complexity. The younger generation of professionals prioritises work-life balance and flexibility. This shift in priorities means that traditional workplace models are no longer enough to attract and retain talent. As the new generation continues to enter the workforce, marketers will need to focus on retaining and nurturing this talent, while cultivating a culture that aligns with these evolving expectations.  

To thrive in this ever-changing landscape, marketers must focus on creating relevance, investing in talent retention and combining agility with strategic depth. By doing so, they can transform challenges into stepping stones for growth and innovation in 2025. 

What advice would you give to young professionals beginning their journey in marketing? 

"Want to work on big campaigns" 

"Want to be involved in bigger projects" 

“Can’t keep doing the same thing. Kuch naya chaiye" 

These are some of the verbatim I often hear when interacting with young professionals entering the marketing field. There’s a romanticised notion of marketing shaped by viral campaigns, award-winning advertisements and celebrity collaborations. 

The reality is that marketing demands far more than creative flair. It requires immersing yourself in the fundamentals - conducting in-depth consumer research, building relationships with distributors, understanding market dynamics and aligning strategies with broader organisational goals. 

Early in your career, you will spend considerable time on what might seem like ‘unglamorous’ work - analysing data, revising presentations and learning from the ground up. But this is precisely where the most valuable learning happens. Marketing is about discipline, persistence and mastering the nuts and bolts that ultimately make the final product shine. 

My advice is to embrace these foundational experiences with an open mind and humble attitude. 

Your effectiveness as a marketer grows in direct proportion to your understanding of your consumers and the broader business ecosystem. The high-profile moments will come naturally when built on this solid foundation of knowledge and experience. 

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