Chennai based AMP Sanmar Assurance Co.Ltd, the life insurance JV between AMP, Australia's leading financial services company and the Sanmar group with business interests spanning chemicals; shipping and engineering, announced the launch of its Group Insurance Scheme aimed at corporates. AMP Sanmar's brand ambassador; Australian Test Captain Steve Waugh, launched this product at a function at Chennai yesterday.
Since their launch in January this year, AMP Sanmar has opened 30 offices in south India, with close to 800 insurance advisors. The company manufactures and distributes a range of traditional life Insurance products, which are capital guaranteed. The products that are currently marketed are the 'Dhana Shree' (Money Back Assurance Plan with profits), the 'Shuba Shree' (Special Endowment Assurance with profits], the 'Yuva Shree' (Child Protection Assurance with profits), the 'Nithya Shree' (Whole life with profits) and the 'Raksha Shree' (Term Assurance with profits).
Speaking at the launch, S.P.Mony, CEO, AMP Sanmar, said that the company hoped to build a long-standing relationship with its policyholders. He also said, "Steve Waugh is the right choice to create brand awareness for a company such as ours. He represents everything that an insurance company stands for; leadership, team spirit and the will to survive".
Steve Waugh spoke about how proud he was to be associated with AMP, which has been involved with much community work back in Australia. Speaking about AMP Sanmar he said that partnerships were crucial. He further elucidated his point by giving the example of a test match with India, where the partnership between two Indian cricketers changed the course of the game.
When asked about the brand building activities that Steve Waugh would be involved in, S.P.Mony explained that we would be utilized in television and print ads in August. He said, "Since much of our focus is on second and third level towns, we hope to create brand visibility through local events. We sponsored a recent cricket match in Thellichery, and it got us a lot of recognition". Mony however evaded the question on ad spends, by saying that AMP Sanmar spends as much on advertising, as his competitors.
Finally on being asked if the company was considering Indian Sports stars as brand ambassadors, after Steve Waugh's three year tenure, Mony replied in the affirmative saying, "We are considering two or three sports stars, but since the discussions are still on, I will not be able to reveal any names." Looks like it's a good opening stand between sports stars and AMP Sanmar!