OM Kotak Mahindra Life Insurance Company Limited, one
of the fastest growing insurance companies in India announced
yesterday that it has changed its company name to Kotak
Mahindra Old Mutual Life Insurance Limited. The brand
will now be known as Kotak Life Insurance.
research findings on the corporate brand have shown that
while the company ranked very high in awareness scores,
Old Mutual plc was not being associated with the word
OM. Old Mutual plc has a lineage of 159 years of domain
expertise in the insurance business. This fact was being
missed out by the customers and they were unable to recognise
Old Mutual's role and expertise as a partner with Kotak
Mahindra Life Insurance Limited. The name change will
address this issue. The second change is the move towards
a unified brand Kotak. This would help present
a common face to the consumer and help the consumer connect
even more deeply with the brand.
on the name change, Uday Kotak, chairman, Kotak Mahindra
Old Mutual Life Insurance Limited said "We believe
that the change of the name and the change of the brand
will help the consumer in understanding the strength of
the association with a Global Fortune 500 company like
Old Mutual better. The unified brand will help us leverage
the synergies and the goodwill of the common brand - Kotak."
Askari, ceo, Old Mutual plc and vice chairman of Kotak
Mahindra Old Mutual Life Insurance Limited said "
I have been involved with the research findings, which
have shown that the customers are not realizing that the
insurance venture in India is backed by an entity as strong
as Old Mutual. I am confident that the
changes in the company name and the unified brand will
help bring out the expertise and strength of Old Mutual
in making the company one of the leading private insurers