Close on the heels of bagging the media duties of Mahuaa TV, Motivator has won the media mandate for Star Union Dai-ichi Life Insurance Company Ltd, the proposed new insurance venture promoted by Bank of India, Dai-ichi and Union Bank. Motivator won the account following a multi-agency pitch. The account size is pegged at Rs 15-16 crore.
No official comments were available at the time of filing this report, however, an industry source close to the situation has confirmed the development.
On November 4, 2008, the insurance company had empanelled Rediffusion Y&R, O&M India, Interpublic and Madison for its creative business.
It may be noted that Motivator handles the media duties of Bank of India, while the creative duties are being handled by O&M and Rediffusion Y&R. The media and creative mandates for Union Bank rest with Mudra.
Star Union Dai-ichi Life Insurance Company will have 10 different products under its umbrella. The new company will focus mainly on bancassurance for distributing its products. Bank of India has a 51 per cent stake in the new company, while Dai-ichi and Union Bank hold 26 per cent and 23 per cent stake, respectively.
Star Union Dai-ichi Life Insurance Company is also committed to providing insurance to rural and weaker/ social sectors. Both the domestic partners are in the process of implementing Government of India’s initiative of financial inclusion and their pan-India network of branches, giving the company a natural edge in catering to these.
Star Union Dai-ichi empanels Rediffusion Y&R, O&M, Interpublic, Madison for creative biz