MAM
68% CMOs want to spend more on Martech: Report
Mumbai: According to a recent study released recently, over 68 percent (or two-thirds) of chief marketing officers (CMOs) want to boost their marketing technology spending in 2022. According to Gartner, the typical marketing budget in 2021 would have included 26.2 percent of martech (marketing technology).
CXOs want to expand their Martech stack as it is insufficient currently.
Resulticks, a global leader in Martech that was named to the Gartner Magic Quadrant for Multichannel Marketing Hubs (MMH) in 2022, has shared its outlook for the future.
Digital marketing has taken center stage as a means of reaching out to customers. While legacy companies are feeling the heat, digital natives are forging ahead, confident that the marketing paradigm based on the virtual world will be effective.
The trend for 2022 seems to echo Gartner’s 2021 projection that 68 percent (or roughly two-thirds) of CMOs want to increase their marketing technology spending.
Resulticks global chief strategy & business officer Dinesh Menon said, “The shift to digital is permanent,”
According to Gartner, the 2022 report highlights digital marketing leaders’ increasing reliance on multichannel marketing hubs for business growth.
This is the sixth year in a row that Resulticks has been recognised in this report. This acknowledges that the way brands engage and converse with customers has changed.
Among those who use Resulticks are HDFC Bank, UTI MF, ABFRL, and Tanger Outlets. Martechs typically “measure the return on marketing expenses.”
The magic formula for Martech appears to be the creation and maintenance of an ecosystem that reinforces benefits to marketers. Other top companies besides Resulticks include Adobe, Salesforce, HCL Unica, and others. Most good software can be updated regularly with new channels and capabilities.
According to the report, elements of the service include hyper-personalisation, context-based targeting, and bringing together real-time customer signals to deliver top-line growth and optimise ROI.
When you buy a health insurance policy, you usually focus on hospital bills and treatment costs. But serious illnesses don’t just affect your medical expenses: they disrupt your income, lifestyle and long-term plans. That’s where a Critical Illness Rider becomes relevant. It works as an additional layer of financial protection when you are diagnosed with a major illness.
Instead of reimbursing hospital bills, this rider offers a lump-sum payout you can use as needed. Understanding its mechanism helps you decide if your coverage is truly complete.
What is a Critical Illness Rider?
It is an add-on benefit attached to your existing health insurance policy. It provides a fixed lump sum amount if you are diagnosed with any illness listed under the rider. You become eligible for a payout solely on the basis of diagnosis, not by hospitalisation or treatment expenses.
Unlike regular coverage, you are not required to submit medical bills to claim this benefit. Once the diagnosed illness meets the policy definition and criteria, the insurer releases the amount. This makes it different from standard critical health insurance plans, which are standalone policies rather than add-ons.
How a Critical Illness Rider Works
When you opt for this rider, you choose a predefined sum assured. If you are diagnosed with a covered illness, the insurer pays the full amount in one lump sum. The payout can be used for treatment, recovery, income replacement, debt repayment, or even lifestyle adjustments.
Most riders specify a waiting period and a survival period. The waiting period means the illness must be diagnosed after a certain number of days from the policy start date. The survival period requires you to survive for a specific number of days after diagnosis for the claim to be valid.
Key Features of a Critical Illness Rider
Here are some of the key features of a critical illness rider:
Lump Sum Benefit
The most important feature is the lump sum payout. You are not restricted to medical usage. This flexibility allows you to handle non-medical costs that often arise during long-term illness.
Coverage for Major Illnesses
Critical Illness Riders usually cover life-altering conditions such as cancer, heart attack, stroke, kidney failure and major organ transplants. The exact list varies across insurers, so reviewing covered conditions is essential.
One-Time Claim Structure
In most cases, once a claim is paid, the rider terminates. This is because it is designed to address high-impact illnesses rather than recurring medical needs.
Affordable Premium
Since it is an add-on, the premium is lower than that of standalone critical health insurance plans. This makes it a cost-effective way to enhance your existing health insurance policy.
No Hospitalisation Requirement
You don’t need to be hospitalised to receive the benefit. Diagnosis alone is enough to avail the benefits. But ensure that all the policy conditions are met.
Income Protection Support
During critical illness, loss of income can be more damaging than medical bills. The rider helps bridge this gap by offering financial stability when you need it most.
Who Should Consider a Critical Illness Rider
If you have dependents, loans or limited savings, this rider adds meaningful protection. It is also relevant if your employer-provided health insurance policy focuses mainly on hospitalisation and lacks income replacement support.
Conclusion
A Critical Illness rider strengthens your health insurance policy by covering financial gaps that regular medical coverage often ignores. It gives you control, flexibility and immediate support during serious health events. Before choosing one, review the list of covered illnesses, waiting periods and claim conditions carefully. When structured correctly, this rider can protect not just your health expenses but also your financial stability during challenging times.
