For years insurers have harped on duty and responsibility. Max New York Life breaks the clutter by urging people to aspire for more.
A curly-haired youngster crossing a road looks in awe at a fancy bike. As the chap on the fancy bike rides along, he passes by another guy on a rather ordinary bike, but with a pretty girl behind him. The fancy bike rider gazes wistfully at the happy couple.
Meanwhile, the girl spots a mother with her two kids and becomes contemplative. The mother passes by a jewellery store and longingly admires a diamond necklace displayed in the window. Just then, the shopkeeper takes out the display and hands it over to a bald gentleman who then gets into his chauffer-driven car.
At a traffic stop, the man notices the curly-haired youngster, and wishfully runs his hand on his clean-as-a-whistle head. A voice-over follows: Khwahishon ke bina zindagi kya. Karo zyaada ka iraada (What’s life without desire. Wish for more).
Max New York Life Insurance’s new campaign, which broke on September 5, marks a strategic shift in the insurer’s positioning.
Says its executive director, Anisha Motwani, “According to the latest World Insurance Report 2008, published by Capgemini consulting, 88 per cent of the consumers use insurance as a means to improve personal finances, which means wealth creation. The consumer has evolved over time and is no more content with the basics of life. His desire for more is ever so evident. Our new brand positioning underscores that.”
What sets the ad apart from a host of other insurance TVCs that inundate the tube is its positive and daring tone. Conventionally, insurance campaigns have harped on “duty” and “responsibility” (with words like jeevan, zindagi and suraksha) as the selling points. “A positive message is always more acceptable and goes down much better with the audience,” says Ajay Ghelot, the creative head of Ogilvy & Mather, the insurer’s creative agency of three months.
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But what prompted the sudden shift in strategy? A research conducted by McKinsey Global Institute and a demographic research by Max New York Life Insurance indicated that the modern Indian consumer was young and more confident than ever before, willing to take risks and unabashedly ambitious.
“Last year, a study conducted by Nielsen outlined exactly what people were looking for from their insurance schemes. For instance, 87 per cent wanted a good RoI and 80 per cent wanted faster claims. With that in mind, we feel that we’re now ready to give more to the customers, hence the new positioning,” explains Motwani.
The brief to Ogilvy & Mather was simple. “People always aspire for more. We’ve tried to highlight the action to wish for more, and to take actions that deliver more,” says Ghelot.
The 45-second ad, which took about 10 days to make, was shot in Bangkok by the film production company Footcandles. It’s being aired on news and general entertainment channels, particularly during mythology and reality shows.
The campaign is a 360-degree initiative, and includes print, outdoor and online promotions. The company has chosen cricket-specific websites, stock market sites and holiday sites to make a hard sell.
Most compelling, however, is the use of the outdoor format. Besides hoardings and posters across the country, the brand is upping the visibility quotient with displays on Rajdhani trains. “We want to let everyone know what we stand for,” asserts Motwani.
The hoopla is a part of Max’s larger corporate plan, also known as Project Everest, launched eight months ago. In line with its growth strategy, the firm is looking to raise its total paid up capital from Rs 1,232 crore this year to Rs 3,600 crore in 2011.
Moreover, it intends to increase its agent strength from 50,000 to 300,000, the employee base from 11,500 to 25,000 and the number of offices from 366 to 1,600.
While the numbers look attractive, they come with an eyebrow-raising price tag — Rs 100 crore. “We look to increase our market share to about 10 per cent from the current 8.4 per cent (in the private sector), and our customer base to 14 million from the existing 2.8 million,” says Motwani.
Max New York Life is trying to strike a chord with customers. And, why not? By 2011, there will be 15 more players in the insurance space. Motwani, however, doesn’t seem too concerned. “With a 4 per cent penetration, there is enough and more space for everyone.”