Turning a product in to a brand requires incremental efforts, but it is worth it because it is the brand that adds significant value when it is well recognised and evokes positive associations in the minds of the consumer, writes Anisha Motwani, CMO, Max New York Life Insurance.
IndiaFirst Life Insurance has rolled out a new ad campaign for one-of-its-kind ‘Money Back Health Insurance Plan’. Segregated across all verticals - television, outdoor media and digital space - the campaign has been powered by Saatchi & Saatchi and Think WhyNot.
“Life insurance is a long term business and thus long term sustainable profitability is the key. The industry is already very competitive with 23 players... In the coming years, companies that can strike a the balance between creating value for customers and the shareholder capital will sustain and achieve the breakeven mark,” says Nageswara Rao, MD and CEO, IDBI Federal Life Insurance.
Following a multi-agency pitch, Life Insurance Corporation (LIC) of India has finalised the empanelment of its agencies. They include RK Swamy, Mudra Communication, DraftFCB+Ulka and JWT India. The media arms of these agencies would handle the media part of the business. As per media report, LIC’s ad spends last year were in the region of Rs 100 crore.