Acquisition project | Aditya Birla Sun Life Insurance

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Acquisition project | Aditya Birla Sun Life Insurance

Elevator Pitch

Hi there, we'll take this one step at a time!

If you struggle with a blank canvas, use this boilerplate to start. Remember, this is a flexible resource—tweak it as needed. Some sections might not apply to your product and you might come up with great ideas not listed here, don't let be restricted.

This is not the only format, we would love to see you scope out a great format for your product!

Go wild and dive deep—we love well-researched documents that cover all bases with depth and understanding.

Refer to the project brief and the additional resources before you begin this project!
(Go through them at least 3 times or till the time you don’t have a mind map in your brain)

Let’s begin

It's time to kickstart the project by taking a crack at building your Elevator pitch.

(Think of this as an introduction to your product- make it remarkable!)

What if your life insurance actually understood your life?
Introducing the Shakti Plan by ABSLI — India’s first life insurance solution crafted around a woman’s unique journey. Whether you're planning a family, launching a career, or managing life’s many roles, Shakti is built to support you every step of the way.

From premium waivers during maternity complications to financial cushions for health challenges unique to women, Shakti blends protection with purpose. And because it’s backed by ABSLI, your investments grow with care and confidence.

It’s more than insurance.
It’s power, protection, and progress — on your terms.
Because your life isn’t standard. Your plan shouldn’t be either.

Understand the user

(Go and speak to different users of the product and the people in the chain: households buying the product, shopkeepers selling the product, churned users, and users using competitor's products. In the case of B2B products identify the decision makers, the influencer, the blocker, and the end-user)

Understanding your ICP

(Put down your ICP’s in a Table Format. A tabular format makes it super clear for anyone to understand who your users are and what differentiates them)

We have multiple users of a product and not all of them can be our ICP for whom we make our strategies, we need to prioritize.
(use an ICP prioritization table)

Criteria	Neha	Sweta	Murchana
Age	29	36	40
Gender	Female	Female	Female
Location	Bengaluru	Kolkata	Guwahati
Educational BG	MBA	BA	BSc
Employment Status	Salaried	Self Employed	Salaried
Marital Status	Unmarried	Married	Married
Have Kids?	NA	1	NA
Social Media they are present on?	IG, LI, WA	WA, IG, FB	IG, WA
Lifestyle/ Interest	Health focused	Kids Health	Travel & Luxury
Media Consumption	Social Media & OTT	both OTT & Daily Soaps	OTT
Current Financial Barriers	Tax benefits	Independent Income	Unplanned Medical Expenses

Understand the product

(Before you begin, you need to know what your product is, what are its features, what is the problem being solved by your product?)

Understanding Core Value Proposition

(Build your core value proposition by exact what your product does and what problem are you solving)

For women who want financial protection that understands their unique life journey, Shakti Plan by ABSLI is the life insurance plan that offers milestone-linked benefits, health safeguards, and career flexibility features—unlike generic plans that overlook women’s specific needs.

Understand the market

(Let's begin by doing a basic competitor analysis in a tabular format considering all the parameters for your product and its competitors)

Parameter	Shakti Plan (ABSLI) (Proposed)	HDFC Life Smart Woman Plan	SBI Life Smart Women Advantage	ICICI Pru Smart Life (with add-ons)	TATA AIA Life POS Smart Woman
Target Segment	Women (working moms, career restarters, entrepreneurs)	Women (urban, working professionals)	Women (expecting mothers, homemakers)	Women (via riders/add-ons)	Rural & semi-urban women
Plan Type	ULIP or Endowment (customizable)	ULIP	Traditional Endowment + Health	ULIP	Term + Savings
Maternity Benefit	✔ Planned as rider or embedded	✔ Waiver of premium on childbirth	✔ Hospitalization + Congenital coverage	✖ Not direct (via riders)	✔ Basic maternity support
Critical Illness Cover	✔ Women-specific illnesses included	✔ Cancer & major illnesses	✔ 3-stage Critical Illness Rider	✔ Via optional riders	✖ Limited or none
Career Break Booster / Income Support	✔ Income payout or waiver during career breaks	✖ Not available	✖ Not available	✖ Not available	✖ Not available
Wellness / Add-on Services	✔ Telehealth, career counselling, financial literacy	✖	✖	✖	✖
Death Benefit	✔ Standard life cover	✔ Standard life cover	✔ Standard life cover	✔ Standard life cover	✔ Standard life cover
Claim Support / Emotional Services	✔ Planned (female advisors, fast-track claims)	✖	✖	✖	✖
Unique Differentiator	Empowerment-focused: milestone-based, flexible for working women	First ULIP for women	Health + savings combo	General product with riders	Rural penetration

(Then let's try to understand the market at a macro level and evaluate the trends and tailwinds/headwinds.)

Now it’s time for some math, calculate the size of your market.

TAM = Total no. of potential customers x Average Revenue Per Customer (ARPU)
SAM = TAM x Target Market Segment (percentage of the total market)
SOM = SAM x Market Penetration/Share

Total female population in India (2022) = ~65 Cr.

% in age group 25–55 ~35%

→ Target age group population = ~23 Cr. women

% Urban/Semi-urban ~35%

→ Urban/semi-urban target group = ~8 Cr. women

% Economically Active (working/professionals) ~25%

→ Total Potential Customers = ~2 Cr. women

Since this is a women-centric ULIP or savings-based life insurance plan, ARPU will depend on average annual premium. We’ll assume an average annual premium of ₹30,000 per policy

TAM=20,000,000 customers×₹30,000=₹600,000,000,000

Estimated TAM for Shakti Plan by ABSLI = ₹60,000 Crores

Assumption: Shakti by ABSLI is initially focusing on

Urban working women in Tier 1, 2, and select Tier 3 cities
Aged 25–45
Earning ₹5L+ annually
Digitally aware or reachable via direct channels (telesales, DSEs)

This may conservatively represent 15% of the overall TAM.

SAM=₹60,000 Cr×15%=₹9,000 Cr

Let’s say ABSLI aims to capture 2% of this serviceable market in the first 3–5 years via:

Embedded distribution (within agency + direct teams)
Dedicated women-led sales teams
Focused product innovation and marketing

SOM=₹9,000 Cr×2%=₹180 Cr

Final Summary:

Metric	Value
TAM (Total Market)	₹60,000 Cr
SAM (Target Segment)	₹9,000 Cr
SOM (Realistic Capture)	₹180 Cr

Metric

Value

TAM

(Total Market)

₹60,000 Cr

SAM

(Target Segment)

₹9,000 Cr

SOM

(Realistic Capture)

₹180 Cr

If your product is in mature scaling stage

Designing Acquisition Channel

(keep in mind the stage of your company before choosing your channels for acquisition.)

Channel Name	Cost	Flexibility	Effort	Speed	Scale
Referral Program (Primary)	Low (variable payout)	High (can tweak rules easily)	Medium (system setup + engagement)	Moderate (builds over time)	High (network effect)
Justification	We only pay per conversion, not per impression or click like in ads. Payouts can be structured as cash, cashback, or non-cash incentives (vouchers, recognition, policy enhancements). Cost is highly controllable, and performance linked. Plus, we can use our existing advisor/employee base as referrers, lowering acquisition costs further.	We can customize for different segments — e.g., one referral structure for customers, another for advisors, another for corporate partners.	Initial setup requires effort — tech integration (referral tracking), program design, communication to users/advisors, and regular performance management. But after setup, it becomes self-sustaining with minimal marginal effort. Advisors and happy customers do the work.	It won't spike like paid ads, but it grows steadily and accelerates over time as we compound trust. Especially in a high-trust category like insurance, referrals convert faster and better than cold leads.	Each new happy customer or advisor can bring in more. With structured incentives and embedded nudges, we can keep scaling this across branches, geographies, and digital platforms. It's especially scalable within closed, trust-based networks like women’s circles, WhatsApp groups, and Women advisor networks.
Content Loops (Secondary)	Low to Medium	High	High	Slow to Medium	High
Justification	Content creation can be organic or low-cost (UGC, internal team). No high ad spend. Costs mostly lie in production & community management.	Experiment with formats (reels, blogs, podcasts, stories), platforms (WhatsApp, LinkedIn, Instagram), and frequency. Easy to pivot based on engagement.	Needs consistent story collection, moderation, community nurturing, design, and scheduling. Also requires training advisors/teams to contribute.	Early traction may feel slow, but momentum builds with consistency and advocacy.	Infinite scale if loop works — each user pulls in more users. Especially potent in communities of trust like women-led salesforce or moms’ groups. Huge base within ABG community.

Detailing Content loops

Content Loop

(Keep it simple and get the basics right)

Step 1 → Nail down your content creator, content distributor and your channel of distribution
Step 2 → Decide which type of loop you want to build out.
Step 3 → Create a simple flow diagram to represent the content loop.

Role	Who/What

Content Creator

1. Shakti Policyholders (happy customers)

2. Advisors / DSEs

3. ABSLI Marketing Team

Content Distributor

1. WhatsApp (advisor/customer forwards)

2. Instagram/LinkedIn

3. Internal microsites or Women Circle community

Channel of Distribution

1. WhatsApp

2. Social media posts/stories

3. Events & workshops

4. Sales conversations & Zoom demos

Type of Loop:

Testimonial-Based Loop
Advisor Success Story Loop
Use-case/benefit moment Loop (e.g., “Maternity Rider helped me during my leave”)

Flow Diagram:

🎯 Real-life moment happens

(e.g., maternity benefit payout, claim experience, first-time investment)

↓

📝 Customer/Advisor shares story

(video, quote, WhatsApp forward, image)

↓

📲 Story is shared on social media or via WhatsApp

↓

👀 New audience sees it — gets emotionally hooked

↓

👋 Inquires about Shakti Plan or shares further

↓

🧲 Lead gets captured → Advisor/DSE follows up

↓

✅ New policy issued → new customer enters loop

Loop Drivers:

Incentivize story sharing: Reward advisors/customers for submitting usable content.
Ready-made content kits: Templates, image frames, hashtags to make sharing easy.
Emotional hooks: Women relate to relatable life stages — maternity, career break, financial restart.

Detailing Referral / Partner program

(For B2B companies, if referral does not make sense you'll take a crack at a partner program for your product)

Step 1 → Flesh out the referral/partner program
Step 2 → Draw raw frames on a piece of paper to get the gist.

(Don't spend a lot of time on design. This is for you to communicate how the referral hook will look)

Who Can Refer?

Shakti Policyholders (happy customers)
ABSLI Advisors & DSEs
Internal employees (employee advocacy)
Partners: women-led communities, financial influencers

What’s the Incentive?

For Referrer:
- ₹500–₹1000 voucher on successful policy issuance
- Or non-monetary: donation in her name, premium holiday
For Referred Person:
- ₹250–₹500 welcome voucher / reward
- Fast-track onboarding

Flow:

Step	Action
1️⃣	Referrer shares link or forwards digital referral card via WhatsApp or QR code
2️⃣	Referred person clicks, fills lead form or requests callback
3️⃣	Lead goes to nearest Advisor / DSE
4️⃣	If policy issued → both referrer & referee rewarded
5️⃣	System logs referral credit & tracks success
6️⃣	Referral stories celebrated via content loop (back to content engine)