Life Insurance Marketing in India (A) The Changing Advertising & Promotion Norms

Advertising Initiatives of the New Players Contd...

In the metros, ING Vysya distributed free movie tickets to its customers. A similar exercise was carried out for another English movie 'Mitr' (Friend). Reportedly, Columbia Pictures and ING Vysya had planned to join hands on a long-term basis. The latter also organized the Green Mumbai Drive and several blood donation camps in association with the Red Cross, besides sponsoring the action replay of the India-West Indies cricket match series in May 2002 and also in November 2002. Om Kotak and Birla Sun Life took to sponsoring events in a major way, to attract prospective customers. In 2001, Birla Sun Life sponsored a play to which a few Citibank credit card customers were invited. A company official said, "Sponsoring plays and events like these give us good mileage. They may not directly give us leads to sales, but certainly give us better visibility."

According to company sources, Birla Sun life was considering the sponsorship of premier shows and offering tickets to corporate agents like Citibank and employees of Deutsche Bank, who helped in the sale of policies. A senior company official said, "It is all about building relationships with our corporate agents."

Om Kotak initially highlighted in its advertisements the credibility and trustworthiness of individual partners (Old Mutual & Kotak Mahindra) through its generic campaigns. The TV commercials featured men and women 'meeting' themselves in the future – happy, healthy and secure, thanks to insurance. In early 2002, company also launched product – specific campaigns. Om Kotak was also considering sub-branding of products.

Allianz Bajaj went a step ahead. Apart from bringing out TV commercials and putting up hoarding and billboards, it entered into a two-month long contract with Shoppers Stop.⁴ According to the contract, every Shoppers Stop outlet had an Allianz Bajaj kiosk that provided information about policies in order to attract customers. According to company sources, its plans were to try any kind of activity that would generate awareness about company and its policies and 'leads' (interest by a prospective customer) and converting the same into its customers.

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4] A leading retail chain in India promoted by the Raheja group with outlets in eight cities.

Case Details

Case Code : MKTG026
Themes: Advertising and Promotion
Case Length : 11 Pages
Period : 2000-2002
Organization : ICICI Prudential, Max New York Life, ETC
Pub Date : 2002
Teaching Note : Available
Countries : India
Industry : Insurance

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