Exhibit 1:
Demographic and socio-economic profile of Pune
Exhibit 2: Exhibit 2: Micro-market
trends in GHI & RI penetration in Pune
2. Getting deeper into customer understanding
Proximity to customers alone is insufficient;
insurers must leverage micro-market insights to understand the underlying
motivations, identify unmet needs, and optimize engagement strategies.
Analyzing customer triggers, unmet needs, and
affordability levels helps uncover product white spaces. Exhibits 3 and 4
highlight the need and opportunity to reimagine offerings. When willingness to
pay is mapped to segment level capacity, insurers can launch sharper, need
based solutions that resonate locally.
Exhibit 3: KPC’s for health
insurance customers across micro-markets
Exhibit 4: Customer willingness
to pay for health insurance in micro-markets
3. Making distribution
more relevant
Micro-markets demand a fundamental rethinking of
distribution, especially the agency channel. A one-size-fits-all agent model
cannot succeed across diverse urban clusters.
Insurers must identify the right agent
archetypes such as community influencers, financial advisors, or local
entrepreneurs and build their presence in high growth zones. But attraction
alone does not drive performance. Agent’s value different things; some demand
strong brand appeal, others prioritize digital tools, rapid payouts, or top-tier
training - unlocking these drivers is key to boosting loyalty and productivity.
Exhibit
5:Agent
motivators across micro-markets in Pune
Micro-market mindset is the future
Micro market segmentation is more than a
strategy; it is a mindset shift that rewires how insurers discover demand,
design products, and activate channels.
By aligning with local behaviour, economic
realities, and agent aspirations, insurers can unlock outsized value. The
future belongs to those who go deeper, stay closer, and move faster.
The future of
insurance is not just local. It is micro. It is personal. And it is here!
How can Praxis help?
Praxis brings deep expertise in unlocking growth
through micro-market excellence. We help insurers decode nuanced customer behaviour
and elevate agent productivity by leveraging granular data, local insights, and
actionable segmentation. Our proven approach - shaped by successful engagements
with leading insurers - combines data-led strategy, targeted agent enablement,
and community-first outreach. From identifying high-opportunity clusters to
driving on-ground execution, Praxis turns insight into impact where it matters
most.
Exhibit 6: Micro-market
playbook for scalable growth
