Everest Brand Solutions will be handling the brand building exercise for Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. Canara Bank, HSBC Insurance (Asia-Pacific) Holdings Ltd and Oriental Bank of Commerce had signed a non-binding MoU to jointly establish the life insurance company on March 5, 2007. The account size is pegged at upwards of Rs 25 crore. Mindshare is handling the media duties.
The life insurance space in India now has nearly 20 players.
It is reliably learnt that Everest Brand Solutions outdid several other leading agencies. Even though the names of other contenders are not known, it is believed that some of the top ten agencies had taken part in the selection process.
Everest Brand Solutions will handle all work related to brand building, which involves press, TV and outdoor multi-media campaigns. The agency will also undertake below the line activities for the company.
When contacted, officials of Canara HSBC Oriental Bank of Commerce Life Insurance Company refused to either confirm or deny this development. Calls to Everest’s Delhi Branch Head that handles the work, went unanswered.
Everest has had enduring relationships with clients like Parle and Bengal Chemicals over the last 50 years. Some of the accounts won by the agency this year include cement major ACC and Indian Overseas Bank.