SBI Life Insurance is in the process of reviewing its creative partner. In the course, the finance major has invited agencies for the duties. The incumbent on the business is O&M and the account size is Rs 15 crore.
Pradeep Pandey, Communication Manager, SBI Life said, "This is a part of the regular review, which happens every year. We invited the top ten agencies of which we have short listed four."
The agencies in the reckoning apart from O&M are Saatchi & Saatchi and Contract. The presentations are made and the final decision is expected next week. The recent campaign from the company, focussed on Lifelong Pension scheme, was created by O&M.
State Bank of India started its business in 1806 as Bank of Bengal. Today it has over 9000 branches and seven associate banks, claiming as much as 30 per cent of the Indian market share.
The insurance venture, SBI-Life, is a step aimed at being a universal bank as it already has subsidiaries for housing finance, merchant banking, mutual funds and primary dealership in government papers and factoring businesses.