To avoid conflict of interest, LIC empanels Rediffusion DY&R’s sister concern Everest
There is some more action over the empanelment of agencies for Life Insurance Corporation’s Rs 125-crore creative duties. The agency involved in the initial process of business was Rediffusion DY&R. However, owing to the fact that it is already handling the creative responsibilities of ING Vyasa, an insurance player, as also LIC’s requirement of exclusivity, the presentations were taken forward by sister concern Everest on the recommendation by Rediffusion DY&R. As a result, the fourth agency LIC has empanelled is Everest. The other three are Mudra, FCB Ulka and JWT as already reported.
To put things in perspective, LIC had called for a creative pitch in May 2004. Of the agencies that responded, thirteen were shortlisted and subsequent pitches were called until a final round of presentations in late August 2004. LIC finalised the four agencies around 12 days ago. The respective agencies have begun work on the business.
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