ADVERTISING FOR INSURANCE PRODUCTS COMES OF AGE

Mumbai: In a category where an emotional pitch is often made by the advertiser, here’s a turnaround of sorts. Life insurance, which was hitherto sold through a rather guilt-inducing “buy me” proposition, is now being pushed differently.

Take for example Contract Advertising’s intrigue-building campaign for Aegon Religare Life Insurance, a new entrant in the life insurance category. Prior to its launch, the agency ran a week-long teaser campaign across the country. The ads featuring actor Irfan Khan warned people against KILB, an abbreviation which was later revealed was short for ‘Kum Insurance Lene Ki Bimaari.’

Aegon Religare chose to use under-insurance as the differentiator, almost to the point of calling it a bimaari (disease). Raghu Bhat and Manish Bhatt, executive creative directors at Contract Advertising, said AIDS or cancer kills only the infected person. “But under-insurance can ruin the entire family.”

Aegon Religare said their research provided an insight into how people usually didn’t remember their exact insured amount or how much they were paying as premium. Rajiv Jamkhedkar, CEO, Aegon Religare Life Insurance, said, “There is usually a huge gap between the lifestyle that people lead and the lifestyle that their insurance covers.”

The Rs 10 crore campaign will be unveiled across the country over the next six weeks and will include television, radio, internet and outdoor ads. The call-to-action TVCs and hoardings that were unveiled to the public on Friday urge people to call a toll-free-number to know about the “right amount” that they should invest for getting a life insurance cover. Aegon will take into consideration the consumer’s current lifestyle, expenses, family size and other factors to determine the amount.

Source- DNA