Consistency is the secret sauce of the LIC brand's success. However, to grab the attention of new-age consumers, the company needs to inject some freshness into the brand
A couple of weeks ago, 29-year-old Vaibhav Shah (name changed on request), a Mumbai-based IT engineer, got an out-of-the-blue call from his family’s Life Insurance Corporation (LIC) agent. He wanted to update Shah about the company’s upcoming initial public offering (IPO) and informed him that he will have to link his PAN card with his insurance policy if he wishes to apply for the IPO.