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HDFC ERGO: A product ecosystem built on mindshare

By Michael Jacobides, Anubhab Goel, Dalbert Ma, Aryan Mittal

Anuj Tyagi, Joint Managing Director of HDFC ERGO, is facing the challenge of transcending the traditional limitations of insurance interactions and establishing a significant presence in customers’ minds beyond annual transactions. The case explores the context of the insurance industry in India before 2019, spans HDFC ERGO’s history, exploring the impetus for digital transformation with an emphasis on “multi-product” ecosystems, the evolving regulatory landscape, market shifts, and the inception and strategies behind the Control N vertical – the spearhead of HDFC ERGO’s digital innovation. The case delves into HDFC ERGO’s pursuit of expanding its market presence beyond traditional insurance through an ecosystem play and illustrates one of the facets of industry convergence and the rise of digitally-enabled broad firms that span several sectors.
The case focuses on Anuj, a key decision-maker in HDFC ERGO, as he is confronted with the need to enhance customer engagement (mindshare). The case then analyses HDFC ERGO’s assessment of the healthcare and mobility sectors, examining opportunities for ecosystem expansion. This case can be taught independently or paired with its sister case, “From Ping An’s inspiration to HDFC ERGO’s journey: Building an insurance-based ecosystem” (CS-24-009) for a more in-depth analysis of the sequential steps HDFC ERGO took in this transformation. The present case focuses on the “what” and the linked case focuses on the “how”.

Learning objectives

  1. Understand the factors driving digital transformation in the insurance industry and their impact on traditional players such as HDFC ERGO.
  2. Explore the strategies adopted by HDFC ERGO to navigate the challenges posed by regulatory changes, market shifts and evolving consumer preferences.
  3. Showcase a multi-product ecosystem and explain how it functions.
  4. Analyse the significance of HDFC ERGO’s Control N vertical in fostering a culture of digital innovation and its strategic approach to talent acquisition and organisational restructuring.
  5. Assess the role of experimentation, proofs of concept (POCs) and technology integration in HDFC ERGO’s quest for customer-centric insurance solutions.


Publication Date: April 2024
LBS Case Code: CS-24-009
Subjects: , , , , , , , , , , , , , , ,
Pages: 21
Format: pdf