Life Insurance Corporation has finally decided the agencies that would take care of its creative responsibilities. The Rs 125-crore account is under the joint custodianship of JWT, Mudra, FCB Ulka and Rediffusion DY&R. The empanelment decision was taken a few days back and implies that these agencies will give exclusive service to LIC in the life insurance category.
To put things into perspective, LIC had called for a creative pitch in May 2004. Of the agencies that responded, 13 were short-listed and subsequent pitches were called until a final round of presentations in late August. LIC finalised on these agencies around 10 days back. The respective agencies have even begun work on the business.
For Mudra, this win is of special importance, “We are very elated. From what we are given to understand, we are the only ones to be retained from the old lot working for the LIC headquarters. This itself is very fulfilling and we are very committed to LIC,” expresses Jude Fernandes, President, Mudra Communications.
The sentiment from FCB Ulka is the same. “This is a very good win. With an account size like this, there is quite a lot of work and the good thing is that the client is clear on the budget as well. In a scene like this, an exclusivity clause isn’t imposing in any way,” says MG Parameswaran, Executive Director, FCB Ulka.