Life Insurance Corporation of India has proposed to shortlist various advertising agencies to handle its publicity, media buying, public relations, digital and OOH activities.
The agencies will be expected to conceptualise and design various media campaigns in keeping with the overall strategy of LIC. They will also be expected to propose and execute media planning and media buying. The term of contract is likely to be three years. The agencies are invited to submit the applications by Thursday, September 12, 2013.
It intends to empanel media agencies to handle the publicity, conceptualising, designing, media planning, media buying and release of advertisements for print and electronic media i.e. TV and radio. The agency will also be required to undertake public relations activities. The digital agencies will be required to handle the publicity, conceptualising, designing, media planning, media buying and release of advertisements on the internet, social media, mobile and other new digital media. The OOH agencies will conceptualise, design and deliver various products and service campaigns through wall paintings and hoardings.
The media agencies should have an experience of at least five years in the field of publicity with a minimum gross income of not less than Rs 20 crore during each of the last three accounting years. The digital agencies should have an experience of at least three years in the field of digital advertising and social media with a minimum gross income of less than Rs 5 crore from digital advertising during each of the last three accounting years. The OOH agencies should have at least five years experience in the field of OOH advertising with a gross income of not less than Rs 5 crore from during each of the last three accounting years.
In 2010, following a multi-agency pitch, LIC of India finalised the empanelment of advertising agencies that included RK Swamy, Mudra Communication, Draftfcb Ulka and JWT India. The media arms of these agencies handled the media part of the business.