Jago Grahak Jago

Influencer Marketing Social networking sites like Instagram, #YouTube, #FaceBook, #Vigo Video, offer a highly interactive and visually rich experience to users. Hence these sites have acquired immense popularity for product promotion. Influencers are the key drivers of this ecosystem. Oxford English Dictionary defines ‘influencer’ as “a person with the ability to influence potential buyers of a product or service by promoting or recommending the items on social media”.

The Interactive Advertising Bureau (“IAB”) defines ‘brand safety’ as “keeping a brand’s reputation safe when it advertises online“. The objective of brand safety is to ensure that the placement of advertisements is such that they are protected against surrounding content that is universally considered to be unsavory. It is intended to prevent potential negative associations with the brand due to particular types of ‘harmful’ content in the vicinity of the ad. For instance, an advertisement for a product such as Bournvita (promoted as a children or family based product), affixed on or displayed in the midst of pornographic content, would work to the disadvantage of the image of the brand. Substantial time and investment is made by brands on projecting a particular type of image, and when their ads are placed in the wrong context, it can damage their image in no time. It takes the consumer mere seconds to make up his/her mind about the brand just by the content it is being associated with, rendering the brandguilty by association. Hence, years of cultivating the “right” image can vanish in the blink of an eye.

(1) E-commerce of food items and groceriesElectronics, books and garments have been the most popular items in the e-commerce segment among Indian consumers. However, COVID-19 seemed to have altered this situation, as e-groceries have taken the centre stage, ever since the pandemic (and the panic shopping!) started in February 2020. As per a press release by Razorpay, one of the largest payment gateways in India, online grocery shopping in India grew by 9% for the first time in just one month.1 The Indian e-grocery stores, such as BigBasket, Grofers and Amazon India Pantry were allowed to continue supplying groceries, and have seen a skyrocketing rise of their app downloads and new customers in each of last months, as per MoEngage, an AI-based customer engagement platform.2 Their businesses are bound to shoot up and this is when their operations have not been smooth due to the lock-down and their sites are consistently slow due to high traffic.A large percent of consumers who now finds online grocery shopping easier, convenient and, more than that, safer, is most likely to continue shopping groceries online post the pandemic situation. This consumer behaviour would lead more businesses to digitise their business operations, especially in the food and beverages industry.

With the world facing trying times due to the coronavirus outbreak and several countries coming to a stand-still. It is apparent for most brands to avoid a hit on their business due to the once-in-a-lifetime pandemic situation. Brands in the aviation, hospitality, travel, oil and gas, restaurants, and the retail sectors appear to have been impacted the most. However, there are a few names in some industries that have witnessed a substantial surge or at least consistency, in the demand and supply of their offerings since the beginning of the pandemic, besides the obvious ones like the food and the healthcare sectors.

Claims Settlement Claims under COVID-19 are required to be handled expeditiously and reviewed by the claims review committee of the Insurer before repudiation. Indemnity based health insurance products providing coverage for the hospitalization treatment costs (including the standalone “Arogya Sanjeevani Policy” health insurance product) are expressly required to cover the costs of hospitalization treatment incurred on account of COVID -19. With respect to unit linked policies maturing by 31 May 2020, where fund value is to be paid in lumpsum, Life Insurers have been permitted to offer settlement options in accordance with the erstwhile R25 of the IRDA (Linked Insurance Products) Regulations 2013, regardless of whether such option exists under the specific product. In terms of such settlement options, Life Insurers are also required to exercise all due diligence and clearly explain the possible risk of continued fluctuation of fund value based on daily NAV, and obtain the clear consent of the policyholder.

1. IRDAI has vide its circular dated March 4, 2020, instructed all insurers providing health insurance policies and covering costs of hospitalization to: review and expeditiously settle all claims with respect to costs of medical expenses incurred during treatment or during quarantine period as per the terms and conditions of the insurance policy; and devise policies to cover the costs of treatment of Covid-19 in order to meet health insurance requirements of various sections.

The Insurance Regulatory and Development Authority of India (hereinafter referred to as ‘IRDAI’) issued a circular on March 04, 20201(hereinafter referred to as ‘Circular’) for claims related to Corona virus. The IRDAI has directed all the health insurance companies to include medical cover for COVID-19 irrespective of the nature of policy held by the consumer.

Insurance sector plays a very vital role in stimulating the economy. It promotes financial stability, facilitates trade and commerce, manages and strengthens the risk-taking ability. IRDAI is responsible for monitoring the entire insurance sector in India and acts as the custodian for all insurance consumers’ rights. In light of the incessant spread of Covid-19 and prolonged lockdown in India, IRDAI has taken several steps by way of issuing circulars and press releases to provide guidance, clarification and relaxation to insurers and policyholders with the view to provide necessary support and protection in the present unprecedented circumstances. 

Complaints related to e-commerce companies pertained to “unclear guidelines for quality check of the products, lack of standardisation of refund, delivery and exchange policy. The Centre received the maximum complaints against e-commerce giants last year, prompting the Quality Council of India (QCI) to suggest that the government should “name and shame” such companies with total number of pending customer grievances.

India is the fastest growing market for the e-commerce sector. According to quoted figures, the revenue from the e-commerce sector is expected to increase from USD 39 billion in 2017 to USD 120 billion in 2020, growing at an annual rate of 51 percent, the highest in the world. Most of this growth is credited to the increasing funding received from across the world since 2009 and also to the higher engagement with the consumer base on account of increase in internet and smartphone penetration in India.