Intelligent investing has assumed critical importance today; it holds the promise of assured returns, an additional income in pressing times. To emphasise the value of investing in life insurance as a source of ‘second income’, Kotak Mahindra Old Mutual Life Insurance Ltd has launched a new campaign, titled ‘Another You’, showcasing the Kotak Assured Income Plan. The campaign is based on an in-house research, which threw up some interesting findings on – the growing value of money in recessionary times and luxury is no more an aspiration, but a want with the requirement of a supplementary income.
Elizabeth Venkataraman, Senior Vice President, Kotak Mahindra Old Mutual Life Insurance, elaborated on the insight and the product proposition. He said, “Our latest Usage and Attitude (U&A) research indicated that with the backdrop of weak economic sentiment and concomitant concerns such as income not keeping pace with inflation, there is a strong affinity towards low risk investments, which will over time graduate into guaranteed and regular second income sources. Kotak Assured Income Plan, our flagship product, addresses precisely this need, whereby on a payment term of 15 years, the policyholder earns a fixed amount every year starting from the 11th year, for the next 20 years. The current campaign draws its relevance from this backdrop and seeks to effectively marry the product to a strongly felt consumer need.”
The TVC shows ‘another you’ stepping in to lend a helping hand and allowing you to shoulder your responsibilities better. The ‘identical twin’ here is a personification of the plan and the certainty of additional financial support that it offers which only you can otherwise provide your family. JWT has executed the creatives for Kotak Life. On how the agency cracked the creative, Priya Pardiwalla, VP & Senior Creative Director, JWT, elaborated, “While we explored many ideas and possibilities, one particular insight really stuck with us. At some point, we’ve all thought about it – if only there was another earning member in your family, you would earn a second income and life would be much easier. This was really the first building block for this campaign. Plus, it always helps when you find a track that perfectly matches the idea and video. Still, we just tweaked the first word of the song.” The ad was shot at Rajkamal Studios (Parel) and Horniman Circle.
The commercial has been directed by Rajesh Saathi of Keroscene Films. This is the only TVC that will be aired as part of this campaign with edits of the same. The commercial has been dubbed in five languages. The TV and digital campaign runs for five weeks, while the outdoor campaign will run for three weeks. The media mix for the campaign is TV, 60 per cent; OOH, 25 per cent; others, which includes radio, digital, cinema, 15 per cent.
The campaign has been launched simultaneously across multiple mediums. Giving details on how the campaign will unfold, Venkataraman said, “We have TV, radio, outdoor, cinema, digital and social media as part of our 360 degree campaign initiative. TV ads will run across 32 Hindi, Bengali, Tamil, Kannada and Telugu channels. The outdoor campaign in Hinglish, Hindi, Punjabi, Gujarati, Marathi, Bengali, Tamil, Telugu and Malayalam languages will cover 66 cities. These will be augmented by radio, digital and social media campaign.”
BTL will use branding in client communication, use of promotional material by channel partners, and distributors in the sales process and communication, besides roadshows and events. For internal audiences, Kotak Life did a teaser campaign prior to the release of the ad, and while the ad is on air, the company will engage consistently in regular employee communication to keep the interest levels high in the campaign. Contests have been planned and promotional materials around the advertisement will be developed for use by sales force and other teams in client communication.
Social media campaign
Kotak Life is also planning to tap into the social media maze to address the needs of their audience and establish regular channels of communication. “Digital and social media are part of the campaign. Apart from banner ads on high traffic sites such as Yahoo!, the brand will leverage popular social media spaces such YouTube and Facebook in new and appealing ways. “On Facebook, for instance, we have created a ‘CloneMe’ app that lets one create a clone to take care of some important aspects of one’s online life, such as posting birthday wishes and updating content. That apart, we are also developing technology-specific content for Android, Windows, and Apple phones. Besides, customers will also be able to view and respond to the advertisement on our landing page, which will serve as an important cog in the digital effort,” Venkataraman said.
Kotak Life Insurance’s last communication was focused on children’s plans, when they unveiled a new brand positioning – ‘Faidey ka Insurance’ – close to two years ago. On the long gap between this campaign and the prior one, Venkataraman explained, “At that time, our U&A research indicated a strong need for children’s’ plans among the TG and formed the basis of our campaign. We wove our investment expertise into that need to create a clutter breaking campaign, which voted for parents enabling kids to follow their aspirations by investing with us. The ‘Chotu campaign’ was well-received. Around this time last year, the industry was in the throes of a major transformation and all energies were concentrated on getting that arithmetic right. Now, the sales of insurance products are witnessing a steady uptick. The timing of the ad has to do with the annual insurance sales lifecycle where JFM (January, February, March) quarter accounts for the highest numbers.”
Regarding focus areas for the year ahead, Venkataraman shared that building awareness by addressing key consumer needed in a fresh and that clutter-breaking manner had always been the brand’s focus. The ad campaign itself will build into a larger client engagement effort running through the year comprising regular communication, events, roadshows, local promotions, contests, investor education workshops and seminars, among others. Commenting on the highlights of 2011 for Kotak Life, Venkataraman said, “2011 marked the 10th year of operations for us and the third year in profit. 2012 promises to be a good year for customers and will be characterised by more choices, better service and lower costs, and insurance will prove to be a rewarding, long term investment. Lower cost of intermediation will result in more benefit to the customer. We have been growing consistently and steadily year-on-year and that will remain our aim going forward. In FY11, our profit stood at Rs 101.41 crore, up from Rs 70.71 crore in FY10.”
The TVC is an optimistic and fun take on the insight and thought of an additional income. The jingle is a re-recording of the old Bollywood song ‘Aap jaisa koi’ playing out as ‘Mere jaisa koi meri zindagi mein aaye, toh baat bann jaaye!’ The message conveyed is that if you had another like you, life would be easier owing to a second income.
The scenarios in the film show people at work being helped by another who looks exactly like them. The film opens in a recording studio where a singer starts out by singing the jingle, joined in by her twin to make the song peppier; a chef’s broth made complete by his clone adding the seasoning, and an office-goer whose identical counterpart helps him get on a bus. The message delivered in the background is: ‘Aap jaisa ek aur hota toh second income ho jati; Guaranteed Second Income from Kotak Life Insurance, Faidey ka Insurance’.
Client: Kotak Mahindra Old Mutual Life Insurance
Creative: Priya Pardiwalla (VP & Senior Creative Director), Steve Mathias (AVP & Senior Creative Director), Anshul Sharma (Senior Copywriter)
Account Management: Dipika Narayan (VP & Executive business director), Farhad Elavia (AVP & Client services director), Nivedita Lahiri (Account Manager), Prashant Motwani (Management Trainee)
Director: Rajesh Saathi
Production house: Keroscene Films