In the wake of a multi-agency pitch, insurance company Future Generali, which is a joint venture between Pantaloon Retail India and Italian insurance firm The Generali Group, has assigned its creative duties to Saatchi & Saatchi. The media AoR of Future Group is Starcom Worldwide, and it was expected that Starcom would also handle the media duties of Future Generali.
However, Future Generali officials categorically stated that they are speaking to four media agencies for the media duties, and that a decision on this would be taken in a week or two.
The other agencies in the fray for creative duties were JWT, O&M, Saints & Warriors, Ambience Publicis and Law & Kenneth. Girish Kulkarni, Chief Marketing Officer, Future Generali, has confirmed the development, stating that the estimated account size of the business is upwards of Rs 20 crore.
Speaking further on the new creative agency, Kulkarni said, “We are happy to announce that Saatchi & Saatchi has won this race. The decision was based on the creative plans presented by the agency. We are very clear that we want to go the 360-degree way for our communication. We will market the brand both through traditional and on-ground mediums. We are also looking forward to the agency coming up with many more innovations.”
The insurance venture will operate in the market through two separate companies in the life and non-life insurance businesses in India. Pantaloon Retail will hold 74 per cent, while the rest will be held by the JV partner. Future is the new brand name being promoted by Pantaloon Retail. Future Generali will have a start-up capital of Rs 2 billion.
(Additional inputs by Noor Fathima Warsia)