Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance, believes the government’s zero GST move will be a game-changer for the sector, paving the way for deeper penetration and making insurance more affordable and accessible. While acknowledging the immediate challenges of input tax credit and commission adjustments, he says the industry is united in ensuring that the benefit reaches the customer and supports the goal of 'Insurance for All' under Viksit Bharat.
Looking ahead, Kotak Life’s growth strategy for FY26 is anchored around distribution expansion, product innovation and digital transformation. The company plans to scale up from 333 branches to around 400 by the end of CY26, while simultaneously strengthening its tech and AI capabilities to enhance customer and distributor experience. Balasubramanian underscores the 'phygital' nature of the industry, noting that despite digital progress, personal advisory and offline presence will remain vital.
He also welcomes increased competition following 100% FDI and composite licensing norms coming in, saying global entrants will ultimately benefit customers, even though the Indian market demands long-term investment and deep local understanding.
Watch the full interaction here:
Kotak Life’s marketing strategy leans heavily on digital and targeted engagement. Beyond traditional media, the brand has leveraged partnerships such as being the official life insurer for Royal Challengers Bengaluru and sponsoring the 'Life Insurance Lifeline' on Kaun Banega Crorepati to build relevance among younger, digital-savvy audiences.
To connect with Gen Z, Kotak Life is launching innovative, lower-ticket products like Tulip and Gen2Gen, blending investment appeal with protection. While insurance may not offer instant gratification, Balasubramanian says the focus remains on building long-term trust, financial wellness and meaningful value for customers across generations.
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