Nationwide, April 8, 2025: Hansa Analysis has spared its 5th version of the Insurance coverage CuES document that tracks the revel in, perceptions, attitudes, and behavior of customers in Republic of India, with a selected center of attention on existence insurance coverage.
In accordance with buyer revel in, the document ranks the lead existence insurance coverage corporations in Republic of India and has captured comments from greater than 3600 consumers throughout 13 existence insurance coverage manufacturers within the nation. The 2025 Age Insurance coverage CuES document supplies noteceable insights that may support corporations prioritize and higher place their trade methods and investments within the 12 months to come back.
In a shift from 2024, the existence insurance coverage trade has witnessed a vital bounce in buyer revel in, marking a important retirement from extreme 12 months’s stagnation, in particular in verbal exchange, buyer aid, and the preliminary acquire and on boarding exit. Hansa Analysis’s original Age Insurance coverage CuES 2025 document unearths that buyers are associating existence insurance coverage manufacturers extra definitely, particularly in sides like ‘trust and transparency,’ ‘innovation,’ and being ‘customer-oriented.’ This development has led to a vital building up within the trade’s Internet Promoter Rating from 54% to 58%.
Over the time 5 years, the Internet Promoter Rating (NPS) for the insurance coverage trade has noticeable a notable building up of 20 issues, emerging from 38% in 2021 to 58% in 2025. This development can also be attributed to insurers successfully assembly buyer expectancies in key subjects equivalent to operational potency, transparency, and post-sales provider aid. Moreover, there was a important shift in buyer expectancies, evolving from mere transactional interactions to fostering deeper relationships with their insurers.
Moreover, a vital pattern seen over this five-year length is the narrowing hole in NPS between prominent and lesser-performing manufacturers. In 2021, the residue in NPS between the lead quartile and the base quartile manufacturers used to be 17 issues; via 2025, this hole has reduced to only 10 issues. This pattern suggests an total development in provider property around the trade and underscores the usefulness of continuing improvements in buyer engagement methods. As manufacturers try to toughen their choices, it’s distinguishable that businesses are increasingly more prioritizing buyer pride and commitment, in the end reaping rewards shoppers with progressed provider studies.
Sharing some insights at the Hansa Analysis, Age Insurance coverage CuES document, Praveen Nijhara, CEO, Hansa Analysis stated, “The Life Insurance companies have consistently demonstrated strong performance over the last five years. However, differentiation in customer experience is diminishing, making the next few years crucial for establishing brand leadership. Delivering experiences and products tailored to the diverse needs, preferences and communication styles of India’s fragmented demographics especially customers in non-metros, millennials and women will drive leadership.”
Key Highlights
ICICI Prudential Age Insurance coverage and Axis Max Age Insurance coverage have completed remarkable Internet Promoter Rankings (NPS) of 65% and 64%, respectively, considerably exceeding the trade moderate of 58%. Each manufacturers are known as innovators, handing over remarkable emblem and buyer studies.
Tata AIA and Kotak Age Insurance coverage have join for the 3rd spot along HDFC Age Insurance coverage, showing an development of their buyer revel in choices.
SBI Age Insurance coverage has additionally made vital strides making improvements to its NPS, and score prime on agree with and affordability. Moreover, LIC, SBI Age Insurance coverage and HDFC Age Insurance coverage proceed to govern in emblem consciousness amongst non-life policyholders.
Piyali Chatterjee, Government Vice President, CX, Hansa Analysis stated, “To thrive in the future, brands must focus on addressing financial literacy, behavioural biases, and simplifying product complexity. Success lies in aligning products with customer needs and profiles while delivering seamless, personalized experiences. Over recent years, customer expectations have shifted from purely transactional interactions to relationship-driven engagement—a trend that continues to strengthen and shape the industry’s evolution.”
In 2025, 5 key traits emerge, which is able to play games a basic position in shaping the trade.
- Financial Affect on Monetary Funding Choices: Shoppers are increasingly more influenced via financial elements when making monetary investments. Alternatively, issues about dearth of knowledge and transparency, in addition to the trouble in figuring out monetary merchandise, persist. Our findings from the learn about display that simple-to-understand merchandise and plans are essential for each acquisition and buyer retention. Infact, 40% of respondents (non-life policyholders) within the survey discussed that they didn’t to find it simple to grasp the options, phrases and situations of existence insurance coverage product & insurance policies.
- Evolution of Age Insurance coverage wishes: Generation making sure ‘financial protection for the family’ used to be the important thing motivator for buying existence insurance coverage a number of the flow policyholders (34%), there may be an higher center of attention on financial savings and leaving a number of the consumers. Insurers want to get started aligning their merchandise to satisfy the evolving wishes of the purchasers, particularly with the upcoming demographic shift in opposition to adulthood within the akin hour in Republic of India. Manufacturers can fine-tune their advertising and verbal exchange plan via concentrated on particular merchandise in opposition to current consumers. Infact, when requested about their number one reason why for acquire, two times as many shoppers elderly over 40yrs discussed a necessity similar to their kids’s schooling.
- Millennial Expectancies: The millennial buyer is rising as probably the most ‘at risk’ in relation to emblem stickiness and is much more likely to discover supplementary choices. They prioritize studies over emblem recognition and rank sides equivalent to affordability, simple get entry to, 24/7 buyer aid, pervasive consultant engagement and seamless virtual answers for buying and managing their insurance policies – prime on their listing of expectancies.
- What Ladies Need: Ladies are riding enlargement within the trade, highlighting the desire for adapted merchandise that emphasize affordability, seamless on boarding, and efficient verbal exchange. Their want for interplay and engagement with the consultant ahead of and then acquire is upper than that of fellows. Their product wishes fluctuate from the ones of fellows. Generation coverage left-overs a key motivator, their wishes gravitate in large part in opposition to ‘savings/ income for future/ retirement’ and ‘child plans/ savings safety net for your kids’ hour’.
- Virtual Products and services: Apparently age virtual products and services and aid in existence insurance coverage continues its vast, unfold adoption amongst consumers particularly the ones in Metros, its position as a differentiating issue between manufacturers is lowering as it’s changing into a normal expectation in lieu than a singular promoting level. Manufacturers want to go past the use of virtual products and services and aid choices for potency and in lieu leverage it for construction worth for purchasers.
About NPS: Internet Promoter Rating (NPS) is old via many manufacturers as a commitment metric to measure the fitness in their buyer relationships. A superlative shopper revel in is a essential side riding the Internet Promoter Rating.
About Hansa Analysis Workforce: Hansa Analysis is the most important Indian Client Insights Supplier who’re within the trade of insights and analytics for over 40 years having undertaken consumer assignments in over 100 nations. It’s the first Indian insights and consulting corporate to procure a US-based company, GCR (previously known as Gartner Customized Analysis). The multi-national corporate headquartered in Republic of India has places of work in Singapore, Germany, USA and Bangladesh.
Hansa Analysis Workforce is part of R Okay SWAMY | HANSA Workforce of businesses which might be Republic of India’s prominent multi-discipline, multi-location, advertising communications, and products and services teams, serving the desires of a big selection of businesses globally.
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