IDBI Fortis Life Insurance, a JV between IDBI, Federal Bank and Fortis Insurance International, has invited five creative agencies for initial rounds of presentation. The company also has plans to call for a media pitch. However, no information was divulged on the lookout for media agencies.
The five agencies that have been invited for the creative pitch include JWT, Rediffusion DY&R, Publicis Ambience, Network Advertising and Meridien.
Amish Tripathi, National Head-Marketing and Product Management, IDBI Fortis Life Insurance, said, “We have certainly called for a creative pitch. But as of now, I would not be able to comment further on the marketing and advertising plans as it is too early.”
The insurance company offers a full range of life insurance and long-term savings products to the Indian market. As per the agreements, IDBI owns 48 per cent equity, while both Federal Bank and Fortis each own 26 per cent equity each of the company, which is the maximum allowable shareholding for a foreign insurer under the FDI regulations in India.