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Secondly, their advertisements focused on insurance as an investment option and not a mere tax saving tool – another first for the Indian market. Most of these advertisements carried messages like the family's happiness, human bonding, etc., with underlying emphasis on the security that insurance could provide. Also, instead of projecting the idea, that an insurance policy actually starts working only after the death of the insured, the new campaigns projected that insurance protects people throughout their lives. In one of its TV commercials, ICICI Prudential showed a series of scenes depicting the childhood, marriage and old age of an individual. The purpose of using these visuals was to translate the company's message 'I will protect' into real-life incidents.
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In order to project its commitment towards consumers to 'protect at every stage of life,' the company brought in the concept of sindoor,3 which symbolizes protection. Sindoor was shown throughout the commercial as a mark of auspiciousness and protection, and at the end, it became the red line below the ICICI Prudential logo (Refer to Exhibit II). Max New York also resorted to depicting positive emotions such as trust and protection in its print advertisements. |
Reportedly, Max New York wanted to convey the message that 'insurance is your partner for your life.' Suhel Seth of Equus Advertising the ad agency, which created the advertisements for Max New York – said, "We had to break the clutter, as insurance as a category has largely communicated doom and fear. Therefore, the campaign lent itself better to an emotional route."
Max New York Life also carried out an extensive outdoor media campaign across the country, focusing on 'India-specific' images such as traditional wrestlers and village people. In addition to such TV commercials, the private insurance companies were trying to make their presence felt by organizing blood donation camps, contests and sponsoring various events. ING Vysya tied up with leading US-based Columbia Picture's Indian arm to carry out promotional activities using the blockbuster English movie 'Spiderman.'
Life Insurance Marketing in India (A) The Changing Advertising & Promotion Norms - Next Page >>>
3] The red vermilion powder used by married Hindu women in India as a symbol of their married status. Considered
extremely auspicious, it is an integral part of the country's culture and is associated with concepts such as luck,
protection and togetherness.
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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