Carat Media has been appointed as the media agency of IndiaFirst Life Insurance, a joint-venture between two of India's public sector banks – Bank of Baroda (44 per cent) and Andhra Bank (30 per cent) -- and UK's financial and investment company Legal & General (26 per cent).
Carat, the world’s largest independent media communications specialist, is part of the global operating unit -- Dentsu Aegis Network.
The agency will handle television, print, out-of-home, radio, cinema, activation and ambient for IndiaFirst Life Insurance. Carat Media won in a multi-agency pitch against eight major agencies, including Lodestar, OMD and BPN.
“Our team is looking forward to working with IndiaFirst to create strong consumer-centric digitally ahead solutions, which will help the latter become a preferred choice among consumers. We are pleased that the team at IndiaFirst saw value in our offerings. We look forward to a long partnership, which enhances the brand of IndiaFirst in India,” said Avers Kartik Iyer, Managing Director India, Carat Media.
“We are happy to partner with IndiaFirst Life Insurance. It gives us market advantage to win such a competitive pitch as it demonstrates that Carat India is riding on proprietary consumer data analytics and tools to design unique engaging communication plans across touch points, beyond traditional media planning,” said Himanka Das, Senior Vice President (West) Carat Media.
IndiaFirst Life Insurance sells insurance plans -- including life insurance, investment funds, and group policies. The company's product range covers protection (term insurance), savings, education and retirement. It has a range of group insurance products in forms of credit, life, term and employee liability (gratuity and leave encashment) plans as well. It has also introduced a range of health, pension and wealth accumulation plans.
Last year, Carat Media had added some of the largest accounts to its clientele such as General Motors, Microsoft, Nokia, British Airways, Mastercard, Ayurwin and Meiji.