Get Set Go - Season 2

Round 3: Impactful Two

Future Generali India Life Insurance Company Limited (FGILI) is an Indian life insurance JV between Future
Group, India’s largest retail chain, and Generali Group, a global insurance company. The mission of the
company is to actively protect and enhance peoples’ lives. With operations spread across 134 branches
and a complete range of simplified solutions for the financial security of customers and enterprises, the
aim is to become the first choice by delivering relevant and accessible insurance solutions.

FGILI is ranked 14th in total new business and is one of the fastest growing life insurance (LI) companies
for last three years among all private LI players for the calendar year 2019. The company is digital and
data savvy and has developed pan-India distribution network via Agency (individual advisor workforce
who are not on-rolls of the company), Direct (on-roll sales staff and self-owned online platform) and third
party distributors such as AU Small Finance Bank, Saraswat Bank, Bajaj Finance Limited, American Express
and Policybazaar. The company is also working on selling life insurance using Future Group ecosystem.
The company decide to launch a dedicated distribution channel for the K-12 Indian Schools.

You have been appointed as a Chief Strategy Officer of the company and your job is to prepare a Go-to-
Market strategy for the aforesaid distribution channel.

As part of the strategy, please propose the following -

1. Customer Persona and the specific traits

2. Identify the business opportunity for the life insurance company in terms of products
3. Choose the sales strategy and the rationale (self-service, direct sales, third party, part time advisor
workforce or anything else)
4. Determine the brand and marketing strategy with a special focus on messaging
5. Initiatives to improve conversion rates, increase monetization by increasing wallet share and
promote long term stickiness to the purchased product
6. Recommendations for the customer sales process till policy issuance (not mandatory)

While answering the above questions, please feel free to incorporate the relevant strategy models or tools
you have learned in the past.

Data sources for reference-

https://life.futuregenerali.in/about-us/public-disclosures

https://life.futuregenerali.in/insurance-plans

https://life.futuregenerali.in/life-insurance-made-simple

https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_List.aspx?DF=Creport&mid=11.2

https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_NoYearList.aspx?DF=AR&mid=11.1