Keeping pace with young India, Max New York Life Insurance has unveiled its new brand positioning ‘Karo Zyaada Ka Iraada.’. The new tagline has been coined to represent an ambitious and assertive India that is ready to compete for more, demand more, dream more and live more to create a better today and brighter tomorrow.
This new brand positioning is being supported by two TV campaigns, which are slated to break in a week’s time.
by O&M and EURO RSCG.The media duties are being handled by Madison.
Life insurance has traditionally been sold on the plank of duty and responsibilty. However, studies conducted by McKinsey Global Institute and demographic research by Max New York Life Insurance point to the modern Indian consumer as predominantly young and more confident than ever before, willing to take risks and unabashedly ambitious. This radical change in the thought process of the consumer has inspired Max New York Life Insurance to revamp the brand and change the tagline from ‘Your Partner for Life’ to ‘Karo Zyaada Ka Iraada’.
Debashis Sarkar, Senior Director & Chief Marketing Officer, Max New York Life, explained, “The consumer has evolved over time and is no more content with the basics of life. As we are in an aggressive growth and expansion mode, we want the brand to reflect the same. Max New York Life would like to be seen and perceived as an enabler to a better life. ‘Karo Zyaada Ka Iraada’ is a unique thought provoking concept, which has been used for the first time in the life insurance sector. Max New York Life will be releasing a 360-degree campaign starting the last week of August. This campaign has been created by O&M.”
Piyush Pandey, Executive Chairman & National Creative Director, O&M Ltd India Board, said, “Through the TV commercial we have tried to highlight the basic human tendency of ‘Desire for More’, whether it is applied to what we do, or the customers we serve, ‘Karo Zyaada Ka Iraada’ is the new work way. This is a call for action to wish for more, to take actions that deliver more and to constantly beat the status quo. With this overhaul of Max New York Life’s brand personality, the company also aims to reiterate the brand’s functional benefit of offering ‘more’ of what matters most, as well as conveying a positively charged brand that energises and propels people towards achieving their life goals.”
Anisha Motwani, Executive Director-Marketing, Max New York Life, said, “We are spending Rs 100 crore on ATL and BTL activities, of which Rs 60 crore would be spent on ATL and Rs 40 crore on BTL activities.”
She further said, “We will be doing communication in Hindi in North India and in vernacular languages in South India. We will introduce online innovations like interactive gaming, and are tying up with CNN-IBN Max Achievers, Mint Max Achievers, etc. We are also using poster and the print medium. We are doing branding in Delhi Metro and in three Rajdhani trains. We doing branding across malls, traffic police stands, etc. We are also tying up with various automobile companies.”
Max New York Life has already embarked on an aggressive growth strategy. During the period January-July 2008, the company has added over 5,000 employees and now has over 11,000 employees. The company’s advisor strength is close to 50,000 agents. The company plans to significantly expand its distribution footprint by opening more than 250 new offices every year for the next four years. The number of agent advisors is also expected to touch 300,000. The growth in agency distribution will be complemented by strong growth in partnership distribution. Another 700 offices will be opened in emerging markets.