SBI Life appoints Mullen Lintas as creative agency, Mindshare as media agency
In 2017-18, India’s domestic life insurance industry registered 10.99 per cent y-o-y growth for new business premium, generating a revenue of Rs 1.94 trillion
Published - Aug 22, 2018 8:54 AM Updated: Aug 22, 2018 8:54 AM
SBI Life has appointed Mullen Lintas as its creative agency and Mindshare as the Media agency, following a closely contested multi-agency pitch.
In 2017-18, India’s domestic life insurance industry registered 10.99 per cent y-o-y growth for new business premium, generating a revenue of Rs 1.94 trillion (US$ 30.1 billion). With 57 players, the overall insurance sector in India is one of the most competitive globally, which means that the need for brands to establish a differentiator and a deep emotional connect with consumers is even more. It is in this context that roles of creative and media agencies are crucial for brands to reach out to the right target audience with the right message and stand out among the clutter.
Ravindra Sharma, SVP & Chief of Brand & Corporate Communication, SBI Life, said: “In today’s landscape where new marketing tools and techniques are launched every other day, staying imprinted on the minds of consumers is a continuous challenge. As a brand SBI Life is building a culture to connect with consumers emotional motivations, which are deep-rooted in their need for protection. In this context the strategic thought process and approach presented by Mullen Lintas and Mindshare aligned with our brand ethos reinforcing our confidence to bring them on board. We look forward to see both agencies jointly deliver on developing a unique refreshed communication for SBI Life, which will create a deeper emotional connect with our consumers.”
Amer Jaleel, Chairman at Mullen Lintas said, “SBI Life has created some really memorable work in the past which we hope we can build on to take the brand higher. I am personally excited at coming back into the life insurance space again. I have a lot of fond memories of working at Lowe with Balki on the category and am really excited for this new journey.”
Commenting on this, Prasanth Kumar, CEO, Mindshare, South Asia, MENA and Africa, said, “Being one of our esteemed client partners, this is a joyous moment for us that SBI Life is continuing our relationship. We appreciate the renewed opportunity by SBI Life as we now look forward to strengthening our delivery across brand strategy coupled with insightful data, engaging content and innovations to contribute to the brand's success."
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