Insurance company Future Generali, a joint venture between Pantaloon Retail India and Italian insurance firm The Generali Group, has assigned its creative duties to Ogilvy & Mather. The estimated account size of the business is pegged at around Rs 40 crore annually. Saatchi & Saatchi is the incumbent agency. Starcom would continue to handle the media duties of Future Generali. Sandip Tarkas, President, Customer Strategy, Future Group, has confirmed the development.
It may be recalled that Future Generali had called for a multi-agency pitch in November 2007, following which Saatchi & Saatchi had bagged the account. During that time O&M was also one of the agencies that had taken part in the pitch. However, in the final rounds, the two strongest contenders were Saatchi & Saatchi and JWT India.
Abraham Alapatt, Head - Brand & Corporate Communication, Future Generali Insurance Company Ltd, said, “This year, however, the Group did not call for any traditional pitch, but based on some paperwork and evaluations with the agency’s past work, have appointed O&M India as the creative agency.”
O&M bagged the account following a presentation on the basis of the brief given by the client. However, the officials did not divulge further details on the brief that was given.
The insurance venture operates in the market through two separate companies in the life and non-life insurance businesses in India. Pantaloon Retail holds 74 per cent in the venture, while the rest is held by The Generali Group. Future Generali had a start-up capital of Rs 200 crore.