CONSUMER&

BRANDBrandKPIs

for

car

insurance:Cholamandalam

MS

in

IndiaConsumer

Insights

reportNovember2024Discover

your

Brand

KPI

scores.

Benchmark

against

competitors

and

measureyour

brand’s

marketimpactIntroduction:

studydetailsThe

reportMethodologyThisreport

hasbeen

created

usingthe

datafromStatista’sConsumer

InsightsBrand

KPIs.Thereportprovides

you

with

key

consumer

insightsandbenchmarks

forabrand’sperformance

againsttheindustryoverall

and

theircompetitors.Design:OnlineSurveyDuration:

approx.

15

minutesLanguage:official

language(s)

ofeach

country

withAmerican

Englishoffered

asanalternativeRegions:Brazil,Germany,

India,

Mexico,

U.S.

and

UKNumberofrespondents:approx.

2500Ourdataallows

you

tomeasure

each

brand’spositioninthe

market

bycreating

aprofile

usingStatista’s5key

performance

indicators.

Which

are:

awareness,popularity,ownership,

loyalty,and

media

buzz.Sample:

Internet

users,

aged18

-64,

quotasset

ongender

and

ageThisreport

is

basedon

CholamandalamMS’performance

inthe

carinsurancemarket.Fieldwork:September

2024Ifyou

would

liketofind

out

more

abouttheConsumerInsightsatStatista

or

theBrandProfiler,

please

clickthe

linkbelow.2Notes:Forthis

report

“Usage”indicates

the

specific

“Ownership”Sources:

Statista

Consumer

Insights

Global,

asofNovember202466%

of

Cholamandalam

MS

owners

display

loyalty

towards

the

brandIntroduction:

key

insightsWhodoesthebrandappeal

to?How

doesthebrandperform

inthemarket??CholamandalamMS’branding

resonates

more

with?CholamandalamMSranksoutsidetheTop10

inMillennialsawareness

withinthecarinsurancemarket?CholamandalamMSgenerally

appealsto

men

morethan

women?Thepopularity

ratingof

CholamandalamMS

is

27%?CholamandalamMSranksninth

inownership?Among

CholamandalamMS

enthusiasts,43%

fallunderthe

high-income

category?Interms

of

loyalty,CholamandalamMS

isoutsidetheTop

10

inIndia?Consumers

want

theircarinsurancebrandsto

havehonesty

/trustworthiness,

highvalue,andauthenticity?CholamandalamMShasascore

of

27%

formediabuzz3Sources:

Statista

Consumer

Insights

Global,

asofNovember2024CHAPTER

01Brand

profileInthissection,

we

show

the

demographics

and

attitudesof

consumers

who

saytheylikethisbrandversus

the

share

ofindustryusers.

Thechapteraimsto

bringclarity

tocompanies

who

want

to

know

whotheirbrandingiscurrently

appealingtoand

what

theythinkaboutthe

industry.4Loyalty

is

the

highest

scoring

KPI

for

Cholamandalam

MS

at

66%Brand

profile:

snapshotBrand

performance

of

Cholamandalam

MSinIndia66%48%27%27%20%AwarenessPopularityUsageLoyaltyBuzz5Notes:Carinsurance

‘awareness’,‘popularity’,

‘ownership’,

‘loyalty’

and

‘buzz’

by

brand;

Multi

pick;

Base:n=1,248,

all

respondents

(awareness),n=596,

respondents

who

know

the

individual

brand(popularity),

n=596,

respondentswho

know

the

individual

brand

(ownership),

n=122,

respondents

who

have

owned

the

individual

brand

(loyalty),

n=596,

respondents

who

know

the

individual

brand

(buzz)Sources:

Statista

Consumer

Insights

Global,

asofNovember2024Cholamandalam

MS’

branding

resonates

morewith

MillennialsBrand

profile:

consumer

demographics

(1/3)Measuring

attitudesand

opinions

among

generationshelpsidentifyyourtarget

audience

foryournextcampaigns.Share

ofgenerations49%44%44%Withthatinmind,when

looking

atthe

shareofconsumers

who

likeCholamandalamMS

bygenerationversus

the

share

ofindustryusers

ingeneral,

we

cansee

thatCholamandalamMS

islikedby0%

of

Babyboomers

and

9%

of

Gen

Xers,whereas

thetotalshareof

industryusers

is

0%

and

12%,

respectively.42%ForMillennials

andGen

Z,

49%

and

42%

feel

positivelytowards

CholamandalamMS,versus

44%

and

44%.

Socurrently,

forCholamandalamMS,Millennials

connectmost

with

theirbrandcompared

tothe

overall

industryuser.12%9%0%

0%Gen

ZMillennialsGen

XBaby

BoomerBrand

enthusiastIndustryuser6Notes:“How

oldareyou?”;Single

Pick;“When

it

comestocarinsurance,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;

Base:

n=158,

Cholamandalam

MS

enthusiast,

n=1,121,

carinsurance

ownersSources:

Statista

Consumer

Insights

Global,

asofNovember2024Cholamandalam

MS

generally

appeals

to

men

morethan

womenBrand

profile:

consumer

demographics

(2/3)GenderTheGender

splitbetween

brandenthusiastsof

CholamandalamMSshows

thatwomen

areless

likely

tohaveanaffinity

with

the

brandcompared

tomen.LGBTQIA+statusUnderstanding

and

respecting

thediverse

needsandidentitiesofconsumers

is

becoming

more

and

moreimportant,notjustfrom

asensitivitypointof

view,

but

also

fromrecognizingpotential

businessopportunities

thatcome

withinclusivity

and

diversity.

Andcurrently,

CholamandalamMShasahigherproportion

ofLGBTQIA+17%78%25%40%60%42%58%57%

ofmen

likeCholamandalamMScompared

to

42%

of

women,

whereasfortheoverall

industry,60%

of

men

owncarinsurancecompared

to

40%

ofwomen.consumers

when

compared

totheindustryusers

ingeneral.69%25%

ofCholamandalamMS

enthusiastsconsider

themselves

tobe

partof

theLGBTQIA+

community

compared

to17%among

industryusers

overall.Brand

enthusiastFemaleIndustryuserMaleBrand

enthusiastIndustryuserNot

givenYesNo7Notes:“What

is

yourgender?”;Single

Pick;“Doyouconsider

yourself

partofthe

LGBTQ+community?”;

Single

Pick;

“When

it

comes

to

carinsurance,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;Base:n=158,Cholamandalam

MS

enthusiast,

n=1,121,

carinsurance

ownersSources:

Statista

Consumer

Insights

Global,

asofNovember2024Among

Cholamandalam

MS

enthusiasts,

43%

fall

under

the

high-incomecategoryBrand

profile:

consumer

demographics

(3/3)HouseholdincomeThegraphillustratestheannualhousehold

income

distribution

amongenthusiastsof

thebrand

andownerswithin

the

industry.HouseholdtypeThechartshows

thehousehold

type,takinginto

account

factorssuchashousehold

size,

familystructure,

andthe

number

ofchildren.4%3%Single8%6%43%42%CoupleSingleparentNuclear43%

ofCholamandalamMS

enthusiastsarefrom

high-income

households.CholamandalamMS’brandisgenerallyenjoyed

more

byconsumers

who

arepartof

acouplehousehold,

8%

ofCholamandalamMS

enthusiastshavethiscurrent

living

situation.3%3%21%22%26%29%29%Multi-generational30%31%32%32%31%ExtendedOther2%2%Brand

enthusiastIndustryuserLowHighMediumBrand

enthusiastIndustryuser8Notes:Recode

based

on’’Monthly/annual

household

income

(local

currency)’’;Single

Pick;Typology

basedon

’’household

size’’,

’’household

constellation’’

and

’’children

under

the

ageof14

in

household’’;

Single

Pick;“When

it

comesto

carinsurance,

which

ofthe

following

brands

do

youlike?”;

Multi

Pick;

Base:

n=158,

Cholamandalam

MSenthusiast,

n=1,121,carinsurance

ownersSources:

Statista

Consumer

Insights

Global,

asofNovember2024Consumers

want

their

car

insurance

brands

to

have

honesty

/

trustworthiness,high

value,

and

authenticityBrand

profile:

qualitiesQualitiesownerswant

from

carinsurancebrandsForcarinsurance,

the

topthree

qualitiesowners

want

from

abrand

are

honesty

/trustworthiness,

highvalue,andauthenticity.Authenticity80%Thrill/ExcitementSustainabilityBoldnessCleverness60%40%20%0%CholamandalamMS

owners

alsoappreciate

these

key

attributes,indicating

CholamandalamMS

exudesthese

qualities.SocialresponsibilityCoolnessThequalitiesthatCholamandalamMSenthusiastsare

least

focused

on

arethrill/excitement

andinclusiveness.ReliabilityExclusivityInnovationInclusivenessFriendlinessCholamandalamMS

shouldwork

onpromoting

highvalueto

convertenthusiastsintoowners.HighvalueHonesty/trustworthinessIndustryuserBrandenthusiastBrandowner9Notes:“When

it

comesto

carinsurance,

which

ofthese

aspects

are

mostimportant

to

you?”;Multi

Pick;

“When

it

comes

tocarinsurance,

which

ofthe

following

brands

do

youlike?”;Multi

Pick;“When

it

comesto

carinsurance,which

ofthe

following

brands

have

youpurchased

in

the

past

12

months?”;

Multi

Pick;Base:n=122,

Cholamandalam

MS

owners’,

n=158,

Cholamandalam

MS

enthusiast,

n=1,121,

carinsurance

ownersSources:

Statista

Consumer

Insights

Global,

asofNovember2024Among

Cholamandalam

MS

fans,

52%

state

that

they

get

excited

about

carinsurance

providersBrand

profile:

attitudesWhat

doconsumersthink

ofcar

insuranceingeneral?62%59%54%53%52%45%45%44%42%40%36%34%Sustainability

is

Ivaluealow

priceimportant

to

me

over

highqualityIamwellinformedIrely

onbrands

Iget

excited

about

IliketotalkaboutIknow

and

trustcarinsuranceproviderstopicsrelating

tocarinsuranceBrand

enthusiastIndustryuser10

Notes:“Which

ofthese

statements

about

carinsurance

do

youagree

with?”;

Multi

Pick;“When

it

comesto

carinsurance,

which

ofthe

following

brands

do

youlike?”;

Multi

Pick;

Base:

n=158,

Cholamandalam

MSenthusiast,

n=1,121,carinsurance

ownersSources:

Statista

Consumer

Insights

Global,

asofNovember2024CHAPTER

02Brand

KPIs

&

benchmarkingInthischapter,youcansee

howabrandperforms

againsttheirmaincompetitors

inthe

marketplace.Thissection

allows

benchmarking

ofthekey

performance

indicatorsfrom

the

brandprofile

againsttheindustryasawhole

andotherindustryleaders.1166%

of

Cholamandalam

MS

owners

display

loyalty

towards

the

brandBrand

KPIs

&benchmarking:

IndustrycomparisonBrand

performanceWhen

itcomes

to

carinsurance,theaverageawareness

ofabrandinIndiais65%.

Awareness

ofCholamandalamMS,however,

is

at48%.Awareness27%

ofIndiancarinsuranceowners

say

theylikeCholamandalamMS,compared

toanindustryaveragebrandpopularityof

36%.20%

ofindustryowners

inIndia

say

theyownCholamandalamMS,withtheaverage

ownership

ofabrandat24%.BuzzPopularity66%

ofbrandowners

saythey

would

purchasethebrandagain,compared

toanaverage

loyalty

score

of74%.CholamandalamMS

hasbeen

noticed

less

inthemedia

compared

tootherbrands,with

a“Buzz”scoreof

27%

compared

to32%.LoyaltyBrandUsageIndustryaverageSooverall,

the

results

showtheir

performance

tobebelow

average

compared

to

theindustry.12

Notes:Carinsurance

‘awareness’,‘popularity’,

‘ownership’,

‘loyalty’

and

‘buzz’

by

brand;

Multi

pick;

Base:n=1,248,

all

respondents

(awareness),n=596,

respondents

who

know

the

individual

brand(popularity),

n=596,

respondentswho

know

the

individual

brand

(ownership),

n=122,

respondents

who

have

owned

the

individual

brand

(loyalty),

n=596,

respondents

who

know

the

individual

brand

(buzz)Sources:

Statista

Consumer

Insights

Global,

asofNovember2024Cholamandalam

MS

ranks

outside

the

Top

10

in

awareness

within

the

carinsurance

marketBrand

KPIs

&benchmarking:

awarenessSummaryAwarenessofCholamandalam

MSRank#

BrandAwareness

%Driving

recognition

will

lead

to

growing

yourcustomerbaseand

measuring

brandawareness

isakeycomponent

toachieve

this.Withthisscore,

you

cangaugethe

current

market

presence

ofabrand,understandthebrand’svisibility,competitiveness,

andrecognition

among

theirtarget

audience.

Further

tothis,itisaperfect

way

toassess

yourcurrentmarketing

strategies.1SBIGeneral91%90%88%87%86%75%71%57%56%54%2BajajAllianz3ICICILombardReliance448%5Tata

AIG52%Usingtheconcept

of

aided

brand

recognition,

showingrespondents

both

the

brand’slogo

andthe

writtenbrandname,we

asked:

“Doyou

know

thisbrand,

evenifonly

byname?”.6HDFC

ERGO7National

InsuranceRoyalSundaramGo

Digit8Outofallrespondents,

48%

were

aware

ofCholamandalamMS.

Thisranksthemoutside

the

Top10

compared

toother

brandssurveyed

inthismarket.9AwarenessN/A10Future

Generali

India13

Notes:“Doyouknow

this

brand,

evenif

only

by

name?”;Multi

Pick;

Base:

n=1,248,

all

respondents

(awareness)Sources:

Statista

Consumer

Insights

Global,

asofNovember2024The

popularity

rating

of

Cholamandalam

MS

is

27%Brand

KPIs

&benchmarking:

popularitySummaryPopularity

ofCholamandalam

MSRank#

BrandPopularity%ThepopularityKPIisagreat

indicatorof

brandperception

among

current

andpotentialfuturecustomers.

Thesocial

proof

provided

byahigh

scorecansignifyhow

trustworthy

abrandisandinfluenceconsumer

engagement.

Brandswith

alarge

engagedfollowing

canoften

enjoy

higherlevels

of

advocacyandloyalty.1BajajAllianz60%55%50%49%46%42%40%30%29%29%2SBIGeneralHDFC

ERGOICICILombardTata

AIG27%34Outofconsumers

who

knew

thebrand,

27%

saidtheyliked

CholamandalamMS.

Thisranksthemoutside

theTop

10

compared

tootherbrandssurveyed

inthismarket.56Reliance7National

InsuranceIFFCO

TokioFuture

Generali

IndiaGo

Digit73%89PopularityN/A1014

Notes:“When

it

comesto

carinsurance,

which

ofthe

following

brands

do

youlike?”;

Multi

Pick;

Base:

n=596,

respondents

who

know

the

individual

brand

(popularity)Sources:

Statista

Consumer

Insights

Global,

asofNovember2024Cholamandalam

MS

ranks

ninth

in

ownershipBrand

KPIs

&benchmarking:

ownershipSummaryOwnershipofCholamandalam

MSRank#

BrandUsage

%43%Afterpopularity,we

want

tocover

thevalueactiongapsotounderstandifthe

brandwas

alsobeing

owned,we

asked

each

respondent:

“When

itcomes

to

carinsurance,which

of

the

following

brandsdoyouowncurrently?”.1BajajAllianz20%2SBIGeneralHDFC

ERGOICICILombardTata

AIG37%331%Outofconsumers

who

knew

thebrand,

20%

saidtheyowned

CholamandalamMS.

Thisranksthemninthcompared

to

other

brandssurveyed

inthismarket.430%526%6Go

Digit23%7Reliance23%8National

InsuranceCholamandalam

MSIFFCO

Tokio22%80%920%UsageN/A1020%15

Notes:“When

it

comesto

carinsurance,

which

ofthe

following

brands

do

youown

currently?”;Multi

Pick;Base:n=596,

respondents

who

know

the

individual

brandSources:

Statista

Consumer

Insights

Global,

asofNovember2024In

terms

of

loyalty,

Cholamandalam

MS

is

outside

the

Top

10

in

IndiaBrand

KPIs

&benchmarking:

loyaltySummaryLoyalty

ofCholamandalam

MS’

consumersRank#

BrandLoyalty

%84%Afterascertaining

the

ownership

of

abrandinthe

last12

months,the

next

most

important

indicatorisbrandloyalty.

Thisscore

allows

ustoestablish

whether

abrandisperforming

well

inregard

to

customerretention.

Measuring

brandloyalty

establishes

aclearfeedback

loop

with

customers,

providing

valuableinsightsinto

customer

satisfaction

and

preferences.

Itisalso

apowerful

predictor

to

help

guide

marketingstrategies

andforecast

futuresalesandrevenue

moreaccurately.1BajajAllianz2SBIGeneral84%34%3Tata

AIG81%4Reliance77%5RoyalSundaramNational

InsuranceHDFC

ERGO77%675%Tomeasure

the

loyalty

of

theseconsumers

we

askeach

respondent:

“When

itcomes

to

carinsurance,which

of

the

following

brandsareyou

likely

topurchaseagaininthe

future?”.66%73%78Future

Generali

IndiaICICILombardIFFCO

Tokio73%973%Outofrespondents

whohaveowned

CholamandalamMS,66%

saidtheywould

purchasethebrand

again.LoyaltyN/A1072%16

Notes:“When

it

comesto

carinsurance,

which

ofthe

following

brands

areyoulikely

topurchase

again

in

the

future?”;Multi

Pick;

Base:n=122,

respondents

who

have

owned

the

individual

brand

(loyalty)Sources:

Statista

Consumer

Insights

Global,

asofNovember2024Cholamandalam

MS

has

a

score

of

27%

for

media

buzzBrand

KPIs

&benchmarking:

buzzSummaryBuzzofCholamandalam

MSRank#

BrandBuzz%60%Isthebrand

hot

or

not?Isitcausingastirinthemediaandonline,tofind

thisoutwe

asked

each

respondent:“Whichof

the

following

brandshaveyounoticed

inthemedia,on

social

media,or

inadvertising

inthepast3months?”.1BajajAllianz2ICICILombardSBIGeneralHDFC

ERGOReliance47%27%345%Outofconsumers

who

knew

thebrand,

27%

saidtheyhadheardaboutCholamandalamMS

inthe

media.Thisranksthemninth

compared

toother

brandssurveyed

inthismarket.444%539%6Tata

AIG35%7Go

Digit33%73%8Future

Generali

IndiaCholamandalam

MSIFFCO

Tokio30%927%BuzzN/A1027%17

Notes:“Which

ofthe

following

brands

have

younoticed

in

the

media,

onsocial

media,

orin

advertising

in

the

past3months?”;

Multi

Pick;

Base:

n=596,

respondents

who

know

the

individual

brand

(Buzz)Sources:

Statista

Consumer

Insights

Global,

asofNovember2024STATISTACONSUMER

INSIGHTSUnderstand

what

drivesconsumersGainabetterunderstandingofconsumers,brands,andmarkets.Withthe

Statista

Consumer

Insights,

youget

access

tostreamlinedmarketresearchtoolsandallresultsofthe

exclusiveStatista

surveys.

Leverage

consumerinsightstomakedata-driv