The pitch process of LIC Housing Finance for its advertising mandate for 2005-06 has finally culminated. The four agencies that have been empanelled are Mudra, Lowe Lintas, Image and Fortune, and the account size is pegged in the region of Rs 8-10 crore.
Confirming the news, P K Rath, General Manager Marketing, LIC Housing Finance, said, “The agencies have been empanelled based on their presentation to us and will be responsible for the creative and media duties on project-to-project basis.”
For Mudra, this will be the fourth year of working with the housing finance company. Jude Fernandes, President, Mudra, said, “We did their first ever corporate advertising four years ago. The task then was focussed more on image as LIC Housing Finance was not much in people’s consideration set. This year also we hope to do some good work on their corporate advertising as the advantage with us is that we don’t handle any other housing finance account and are dedicated to only LIC.”
It may be recalled that in September last year, despite having Mudra as its advertising agency for the past three years, the housing finance company had roped in Radeus Advertising, the sister agency of TBWA India.
Having increased its advertising spends over the years, LIC Housing Finance has decided to appoint agencies on a project-to-project basis, and depending on the kind of work they do, would be retaining them on their roster.