HDFC Standard Life has awarded its creative business to Leo Burnett, following a multi-agency pitch process in which nine other agencies had reportedly participated. The account size is pegged in the region of Rs 12-15 crore. The incumbent agency on the account was Dentsu Marcom.
Confirming the news to exchange4media, Arvind Sharma, Chairman and CEO, Leo Burnett, said, “HDFC enjoys enormous brand equity in all its businesses. We aim to assist them in maintaining this. HDFC Standard life enjoys a massive amount of trust, and while there might be some other players in the market who may be higher in trust, they are lower on technology. HDFC Standard Life has the right combination of trust, competence and technology. It is a perfect modern-day player and we are excited to have won this account.”
HDFC Standard Life is a joint venture between HDFC and Standard Life. The company recorded an impressive growth of 177 per cent in the first half of the current financial year with new business first year premium of Rs 352 crore against Rs 127 crore recorded in the same period last year. The growth achieved by the company is way above the private sector industry growth of 82 per cent for the first half.