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Max Life Insurance renews brand strategy, shifts spotlight from advisors to company

26-August-2015
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Max Life Insurance renews brand strategy, shifts spotlight from advisors to company

The insurance industry as a whole has come of age in terms of advertising. Max Life Insurance is one brand that has been consistent in its advertising approach. Last week, the insurance major launched a new campaign emphasizing the importance and significance of honest advice. The central theme of the campaign is well captured with the tag line 'Sachchi Advice sirf apne hi dete hain'. The campaign has been designed by Ogilvy and Mather and will air for a period of 6 weeks.

This new campaign is part of a renewed brand strategy. For the last few years, the brand has propagated the thought of being 'Aapke Sachche Advisor', putting the spoltight on its advisors who are genuine, sincere and do what is right for their customers. Moving forward, the brand now takes the higher ground of 'Sachchi Advice', this time, putting the spotlight on the company as a whole.

Watch the video here:

The campaign went on trend on Twitter for three days. The company has increasingly being seen under the limelight for its digital story-telling. This is the third campaign by the insurer this year, all leveraged through digital mediums.

In wake of this ‘aggressive’ digital media strategy, Chief Digital Officer, at Max Life Insurance Manik Nangia shares key marketing insights with exchange4media. Excerpts:

What is  your renewed brand strategy?

The new campaign revolves around the fact that good or ‘sachchi advice’ is tough to come by. Max Life Insurance as a brand has always stood up for honesty and transparency in a category that is complex and confusing and where trust takes a while to be earned. For the last few years, the brand has propagated the thought of being 'Aapke Sachche Advisor', putting the spotlight on its advisors who are genuine, sincere and do what is right for their customers. Moving forward in its honesty journey, the brand has now decided to take the higher ground of 'Sachchi Advice', this time, putting the spotlight on the company as a whole.

The campaign brings this alive through an engaging story of two brothers playing carrom in their home. The elder brother suggests the younger brother to start saving in insurance, while the younger brother casually shrugs it off.  The film builds on a very relatable insight that the young usually consider the older's suggestions to be preachy and irrelevant. However, the truth is that it's only those who care for you, are the ones who give you honest advice, based out of their own life experiences.  In our country, anyone and everyone is out to give you a piece of advice. However, the most honest advice usually comes from someone who has a genuine interest in your welfare. The film captures this through the line, 'Sachchi advice sirf apne hi dete hain'.

 

With the festive season round the corner, are there any specific plans?

Festivals will come and go and the festive season is an important time of the year for let’s say the FMCG, e-Commerce, Auto and other sectors. However, when it comes to Life Insurance it is about creating a long lasting and satisfying relationship with customers keeping their protection in the long run in mind. At Max Life Insurance, we are of the firm opinion that rather than spending money on things and items that will provide fleeting happiness, one should look at savings for the various stages of life so that the interests of our near and dear ones are protected in the long term. After taking care of these important needs, the disposable income could be used to indulging in things that bring immediate gratification and joy.

Where does digital stand in the overall scheme of things?

The Sachchi Advice campaign will be amplified through a full scale social media plan. A Digital campaign will be built on conversations from consumers who will be invited to share their personal experiences of how honest advice changed the course of their lives or those they know. To reach our consumers, we will be using the social media platforms like YouTube, Twitter and Facebook extensively. We also plan to use the world of Blogs and Bloggers to engage with influencers and customers alike.

Insurance is a very niche category. However, the last year has seen a lot of innovative advertising on part of insurance firms. Is this sort of a coming of age of the industry as a whole?

In India insurance is still not bought, it is sold. Most people do not understand the importance of life insurance from the perspective of securing the financial future of their family in case of an unplanned event in life. It is largely seen as an investment option. Also, most people tend to live under the shadows of misplaced optimism, believing that misfortune will never strike them and postpone buying life insurance over things that provide immediate gratification. Therefore, it has become increasingly important for Life Insurance companies to step forward and educate the consumers about the importance and integrities of Life Insurance. This is what most Life Insurance Companies are trying to focus on it in their own unique way. 

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Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.