HDFC Standard Life, one of India’s leading private life insurance companies, emphasized its commitment to Indian cricket and fans recently when it inked a sponsorship deal with the reigning Indian Premier League (IPL) Champions, Rajasthan Royals. Under the terms of agreement, which was signed earlier this week, HDFC Standard Life would be the Associate Sponsor and Insurance Partner for Rajasthan Royals for IPL 2009.
The Jaipur IPL franchise team Rajasthan Royals is owned by a consortium of international investors comprising of Suresh Chellaram, Manoj Badale, Lachlan Murdoch, Raj Kundra and Indian actress Shilpa Shetty. Rajasthan Royals are expertly captained and coached by legendary Australian cricketer, Shane Warne. The squad has a good mixture of experience, youth and emerging talent like Graeme Smith, Mohammed Kaif, Yusuf Pathan, Munaf Patel & Ravindra Jadeja.
On this association, Sanjay Tripathy, Executive Vice President & Head- Marketing, HDFC Standard Life said, “We are extremely proud to be associated with Rajasthan Royals, the winners of the inaugural IPL tournament. The Rajputs of Rajasthan are known for their courage, strength and fighting prowess - qualities epitomised by the Rajasthan Royals in IPL. During last IPL, though branded as ‘underdogs’, the players believed in themselves and performed to their potential and eventually emerged as Champions. This spirit goes well with our brand thought ‘Sar Utha Ke Jiyo’.
HDFC Standard Life has a national presence and always looks at events and associations which give us national reach and good return on investment. Sports has got an excellent connect with our target audience and cricket being the number one sport in India it is only natural for us to form partnership with a champion team, Rajasthan Royals”.
Shilpa Shetty, film star and co-owner, Rajasthan Royals added, “I would like to thank HDFC Standard Life for partnering with Rajasthan Royals. We are happy to be associated with a brand that is one of India’s leading private life insurance players, as the Associate Sponsors and Insurance Partner.” “We look forward to a fruitful relationship with them”, she added.
In addition to the sponsorship of the Rajasthan Royals, HDFC Standard Life will also be initiating an award, rewarding excellence in the field with the “Sar Utha Ke Jiyo” – Most Valuable Player of the Match award. The Rajasthan Royals coaching staff including Shane Warne will select the Most Valuable Player of the Day from the Rajasthan Royals team, who will receive this honour along with a cash incentive of USD 1000 for each match.
Commenting on this award Shane Warne said “This award is a very thoughtful gesture from HDFC Standard Life. Every player looks forward to being recognized for his contribution to the team. This will add on to the motivation of our young team to give their best in every match”.
HDFC Standard Life has been associated with all kinds of sports events in the past like the Football Association for the sponsorship of Euro 2008, FIFA World Cup 2006, premier tennis events like the Wimbledon, French Open and Australian Open Tournaments, apart from major cricketing events such as the 20:20 World Cup, Indo-Australia Series and many others. Therefore this association fits perfectly with the brand strategy.
About HDFC Standard Life:
HDFC Standard Life, one of India’s leading private life insurance companies, offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.
HDFC Standard Life’s Product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment, and Health. Customers have the added advantage of customizing the Plans, by adding optional benefits called riders, at a nominal price. The company currently has 25 retail and 6 group products in its portfolio, along with five optional rider benefits catering to the savings, investment, protection and retirement needs of customers.
HDFC Standard Life continues to have one of the widest reaches among new insurance companies with more than 600 branches servicing customer needs in over 730 cities and towns. The company has also increased its depth in existing markets with a strong base of more than 2,00,000 Financial Consultants.
