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Rina Chandran

MUMBAI, April 17

DESPITE growing ad spends, the insurance sector has largely stuck to images of happy families, carefree couples and cute babies. But at least two players in life insurance - Tata-AIG and Allianz-Bajaj - have bucked the trend and are taking a witty, almost comical, route to tout their products.

Tata-AIG's print campaign for Nirvana, its pensions policy, has brightly coloured illustrations and conveys the thought that while other things in life cannot be guaranteed - like becoming CEO - the policy guarantees a 10 per cent addition on the sum assured.

The policy was launched in January across 12 cities, and the first phase of the ad campaign, with 75 cc print ads and outdoor in key cities, will run till June.

"Since this communication was aimed at working people in the age group of 30-40 years, it was necessary to speak in a tone and language they would empathise with," Mr Vikrant Ramachandra, Group Account Director, Bates India, which created the campaign, said.

"The communication had to be modern, young, approachable, and yet convey the serious product offering."

Recognition of the importance of a post-retirement income and the presence of private players in the category have increased awareness of pension products and led to growth in the category, Mr Ramachandra said.

Tata-AIG was among the first to launch a product with a distinct USP - a guaranteed 10 per cent bonus, 10 years from the commencement of the policy. The brand name emanated from this USP, he added.

"It is a product that allows the consumer to be in complete peace of mind about his retirement - hence, the name Nirvana."

Mr Ramachandra added: "The challenge for us was to explode this USP, and create a distinct personality for the product."

The stylised illustrations - created by a Bates art director - in bright, vivid colours, appeals to the urban, white-collar target audience, he added.

Last year, the insurance sector spent a little under Rs 200 crore on advertising, accounting for about a fourth of financial services advertising, according to TAM Media Research.

Life insurance products accounted for about 88 per cent of overall insurance ad spend, with Life Insurance Corporation topping the list of advertisers.

Tata-AIG will stick with the same thought and style for the next phase of the advertising, according to Mr Ramachandra.

Allianz-Bajaj has plumped for a more in-your-face approach, albeit with a humorous tone - seven print ads present various products from the portfolio and use different "life truths" to drive home their benefits.

The promise - `Allianz Bajaj helps you laugh through life by removing your worries' - is reinforced by the assurance that the products `give you more laugh lines than worry lines', and the tagline - `Haske jeeyo yaar' (laugh and live).

Contract Advertising created the campaign.

"Advertising in the insurance sector is not at a very developed stage - it's always been very emotional or mushy," an agency spokesperson said.

"So, we decided to use a different route to break the clutter, and humour was one of the routes available to us."

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