Max Life InsuranceBrand communication: Research and

Analysis of Communication of Global Life Insurance BrandsNIMITA DAFTARYBATCH 2014-16

MARKETINGSIMSREE

Brand PhilosophyTo make a person financially secure in his journey of life through an Insurance Policy based on values such as caring, credibility, collaborative and excellence

Alter Ego Campaign - Online Term PlanThe TVC is conceptualised around the idea of a customer and his own alter ego. The film opens with the male protagonist trying to buy life insurance online. His alter ego appears and tries to dissuade him and presents various reasons like the protagonist being in good health, planning for a holiday trip first, and other immediate priorities. However, instead of being influenced by the suggestions of alter ego, he goes ahead and buys the ‘Max Life Insurance Online Term Plan’, emphasising on the point that it is important to secure the future of his family first.Judgement: Yes it connects with the Brand Philosophy

Karo Jyada Ka Irada – Life PlansWhen we launched ‘Karo Jyada Ka Irada’, was not seen as a return of investment proposition. Because it is a financial product, people see that very literally. The representation is dreams and aspirations – you get into long term investments for fulfilling those dreams and aspirations.Judgement: Yes it connects with the Brand Philosophy

Shiksha Plus IIJudgement: Yes it connects with the Brand Philosophy

‘Max Life Forever Young Pension Plan’ and ‘Max Life Guaranteed Life Time Income Plan’The campaign crafted for Max Life Insurance Retirement Plans will help us to cut across generic communication in the category, highlighting the need of spousal retirement planning along with maintaining carefree lifestyle post retirementJudgement: Yes it connects with the Brand Philosophy

Connect with Brand Philosophy

Connect with Brand Philosophy 'Aapke Sachche Adviser‘The insurance advisers are shown as sincere, honest and dependable; but there is also an unsaid message here and that is -- agents or advisers of other insurance companies may not be as honest and dependable and that they could be misleading prospective clients; this is how Max has attempted to differentiate itself by showing that it is a company with integrity.

Judgement: No it does not connect with the Brand Philosophy

‘Second Chance’In India, insurance is majorly considered as an investment option. Not too many people see it as an essential part of financial planning. With this campaign, we have tried to create awareness about the need for protecting one’s life through real life stories and encourage people to consider protecting one’s life for the sake of not just themselves but more so for their families.Judgement: No it does not connect with the Brand Philosophy

Outdoor & On Ground Activation

The Big ThemeMax Life Insurance, earlier called Max New York Life Insurance, had launched a three ad campaign – 'Aapke Sachche Adviser'

Max has attempted to differentiate itself by showing that it is a company with integrity

Proof of Success

Max Life's comprehensive rebranding in initiative helped build customer confidence and led to an all-time high brand consideration score of 29% and spontaneous awareness of 31%

Proof of Success• Max Life Retirement PR campaign won ‘Excellence' award

at Sabre Asia• Silver EFFIE Award in 2012, for the 'Aapke Sachche

Advisor' campaign. Organized by The Advertising Club Bombay in India, the EFFIEs have become the gold standard in measuring marketing and communication effectiveness in India

• Max Life's comprehensive rebranding initiative helped build customer confidence and led to an all-time high brand consideration score of 29% and spontaneous awareness of 31% , for the 'Aapke Sachche Advisor' campaign

• Max Life Insurance has launched a digital campaign titled, 'Second Chance wins four CUPs at Intercontinental Advertising CUP Awards

Competitor Positioning & Brand Essence

http://www.superbrandsindia.com/images/brand_pdf/consumer_1st_edition_2004/lic/lic.htm

Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development

'Celebrate life‘It has been positioned as a brand which stands for Celebrating the simple joys of life, without worrying about financial difficulties in one's old age.http://www.afaqs.com/news/story/29664_SBI-Life-Back-with-the-Celebrate-life-theme

Positioned as a product for the unseen circumstances in life. Insurance communication usually harps on how vulnerable we are in the face of destiny. Never about how strong the human spirit can be. By emotionally empowering one to stay resilient in the face of whatever is in store is a bold, powerful stance by BSLIhttp://www.campaignindia.in/Video/392778,birla-sun-life-promises-to-support-you-through-thick-and-thin.aspx

Analysis of Branding Positioning – Global Companies

Brand

Tagline

Point of Differentiation

Brand Essence

MetLife’s global brand stands for breaking down the barriers to enable and embolden consumers to act to build financial security

Excellent & Committed Customer service experience

Helping and Healing People

Stands for Financial security necessary to live out the dreams & have a strategic financial investment

Safety netThe Rock, an icon of strength,

stability, expertise, and innovation

What does it stand for

A brand which focusses on helping their customers achieve financial prosperity and peace of mind

Differentiated by top talent and innovative solutions for all stages of life

One of the oldest company with a life of 160 years

Highest financial strength ratings awarded to any life insurer by all four of the major credit rating agencies

“MetLife. I Can Do This.” “Own a Piece of the Rock” “Lasting Protection for What Matters Most”

Analysis of Branding Positioning – Global Companies

Brand

Tagline

Point of Differentiation

Brand Essence

Focusses on preservation of the financial security of the people

Excellent & Committed Customer service experience

Large variety of low cost differentiated products

The Company You Keep

The brand says, “When it comes to your financial future, you're in charge. You are the CEO and CFO of your life. You are your own Chief Life Officer”

Supporting and preserving your lifestyle

What does it stand for

One of the oldest company with a life of 100 years of expertise

Developing our workforce as a key differentiator for Lincoln among our peers

“Keep Good Going.” “You're In Charge”

Global Life Insurance’s Print Ads

Global Life Insurance Companies’ TV Ads

‘Unsung Hero’ an ad by Thai Life Insurance in the three-minute segment strongly holds its tagline of ‘Believe in Good’ where an unnamed protagonist takes a small amount of time each day to help those around him where in return what he receives emotions of those who he helps which money can’t buy and that gives him immense pleasure and the feeling of being loved. Other ads too by this Insurance company are tearjerker.

Global Life Insurance Companies’ TV Ads

Tata AIA Life Insurance’s campaign breaks with a 4-minute film, ‘Daddy aur Zooey’- a story of a father and son, the unique relationship they share. This video shows how a father attempts to become a superhero in the eyes of his son, and how proud a father feels when a child recognizes him as a hero. The new campaign from the brand redefines Life Insurance by reminding everyone of a simple truth – ‘We live for the good of our loved ones’—a sentiment that’s the heart of life insurance.

Global Life Insurance Companies’ TV Ads

The best sacrifice in the world comes from our parents. From the moment we are born, they have been doing everything they could to provide for our needs. Parents will do anything for their child, even if it means sacrificing their own happiness just to give their child a good future. This tear-jerking story told in the perspective of a child will melt your heart. This portrays the hardships of being a single dad and all of the sacrifices he’s going through for hislittle girl. “My dad is great, but he lies!” a beautiful ad by MetLife

Global Life Insurance Companies’ TV Ads

‘There Will Never Be Another You’ an ad by Great Eastern Life Insurance where it depicts the way life will change when a person whom you’re dependent on is no longer around. Towards the end it quotes that it works to make one live healthier, better and above all longer as it is not just a ‘Life Insurance’ company but a ‘Life Company’

Competitor’s Digital Analysis

• With Cuker Digital Agency it set goals to create and educate through digital to engage their target audience•It started by developing a digital communication strategy to educate customers on how life insurance works, and how much they need to decrease the length of the sales cycle•It created digital communication pieces including animated videos explaining how life

insurance works, and designed a life insurance calculator so consumers can understand how much they need• It also created videos to help the customer through the process of getting approved by

improving the effectiveness of the approval process and converting more customers•By delivering better educated customers to the sales team it helped improve the sales process

and increase conversions

Competitor’s Digital Analysis

• AIG has its presence on Facebook, Twitter and LinkedIn• On Facebook it posts once every week• The posts emphasis on CSR activities carried out by them• On LinkedIn stories are shared some concerning with women working with AIG and their

contribution towards significant impact at their company on the occasion of Women’s History Month• On Twitter it carries out weekly contest based on the facts about AIG or any other topic that is

not company or industry specific

Competitor’s Digital Analysis

• It is quickening investments in social, video and online advertising to exploit growing buzz around rugby ahead this year’s World Cup in a bid to forge stronger ties to a public still wary of its past as one of the big causalities of the economic crisis• The insurance firm is coordinating Facebook, Twitter and YouTube to give sponsorships with the New Zealand and USA national rugby teams more international exposure in the buildup to next year’s tournament in England

Competitor’s Integrated Campaign

Zurich, a property and casualty insurance provider and the sponsor of New Orleans’ annual stop on the PGA Tour, announced this week that it is partnering again with Ben Crane on a “Driving it Home” campaign to raise money for the St. Bernard Project, a local nonprofit that has been rebuilding homes since Hurricane Katrina devastated the area in 2005.

DRIVING IT HOME CAMPAIGN

Competitor’s Integrated CampaignDRUNK MIRROR

In a bit of clever marketing from Allianz Insurance, digital mirrors were placed in a bar, delivering recorded reflections on a two second delay; an accurate simulation of the reaction time-altering effects of alcohol. When drunk people look in the mirror, they often see a surprisingly attractive, witty, and basically irresistible version of themselves—a sight that helps them rally for whatever mistake is about to made. The last thing they expect to see, however, is a clever lesson in drinking responsibly. Created by Ogilvy One Brazil, a new ambient ad campaign for Allianz Insurance replaced select mirrors in a lively São Paulo bar with a digital screen sporting a delayed reflection effect. The unwitting users can be seen in the above video interacting with the mirror, enjoying seeing the back of their well-coifed heads two seconds after they turned around. That is, until a message appears on the screen, linking the effects of alcohol with delayed reaction time.

Top 5 Customer Friendly Websites

Its landing page not only gives Services & Contact information but also news related to it, its share price, job vacancies, its presence on social media and even its annual report; this encourages one to explore more and stay longer on their website

Easy to access the website. Under rural it specifically and clearly mentions on what factors they provide insurance cover for livestock other than this the other insurance covers are too self explanatory

Everything is on the finger tips. When selected a particular insurance cover it filters further according to one’s country and which cover required adding to this it filters the requirement by an individual of what exactly the person is looking for whether agent/broker, claim, contact and quote

Though there is no direct call to action on the website it does help in getting an advise from a financial professional based on one’s location or an appointment is scheduled to help one understand which policy will suit them well

Great layout. Most modern user interface at every level. The flow of content & the quality of content is one of the depth. Lot of depth at each level. Great use of color scheme makes a perfect branding component.

Digital Marketing – 5 Best Uses

FACEBOOK

NewYorkLife Northwestern Mutual Aegon Zurich Financial

Services State Farm

Refer Notes section for detailed description

YouTube

NewYorkLIfe

ThaiLIfeTata AIG General

InsuranceMetLife

Zurich Insurance

Group

Refer Notes section for detailed description

Digital Marketing – Best Uses

Digital Marketing – Best UsesTWITTER

Prudential Thai Life Insurance

New York Life MetLife Northwestern Mutual

Refer Notes section for detailed description

Digital Marketing – Best UsesLinkedIn

Prudential Northwestern Mutual Allianz Zurich New York Life

Refer Notes section for detailed description

Digital Marketing - Content Marketers

Top 5 Integrated Marketing Campaigns#GivingTuesday CampaignDisabled Sports USA is thrilled to win AIG’s #GivingTuesday campaign. The $95,000 donation that allows to serve more severely wounded warriors who are requesting adaptive sports opportunities through our Warfighter Sports program. These wounded warriors deserve every opportunity to rebuild their lives through sports, and this donation will make a major difference.

Silence of Love CampaignThai Life insurance chose a different talking point compared to their competitors. Because of their purchasing power, Thai Life focused on employed adults and their filial duty to their elderly parents. Thai Life communicated that purchasing life insurance for their parents was a way for working adults to repay the kindness that their elderly parents showed towards them. This strategy fit well because today’s employed adults devote the majority of their time to work, leaving less time for expressing their love towards their family and parents.

Top 5 Integrated Marketing Campaigns“Age Stickers” Campaign Breaks through with an original approach to selling insurance that’s more thought provoking than most ads in the category:  The campaign makes people realize they can expect to live several decades into retirement and that requires significant savings and life insurance.  It’s a thought that relates to nearly all adults, but many may not have fully contemplated.  Given the prospect of a long retirement, it’s never too soon to start saving.  The message extends to younger customers than may not have thought about starting to provide for retirement.

“Magic Jingle Hot Tub” CampaignIf State Farm is trying to seriously disappoint young people with their actual insurance coverage, this ad campaign will do the trick. Nevertheless, it makes us really want one of these agents that pops up as soon as you sing the jingle. In this commercial, a State Farm agent can magically provide you with sandwiches, your hot neighbour, and a hot tub. That's not exactly how insurance works, but who cares? There's a hot girl and a hot tub.

#NothingWillHappen For its flagship protection plan iTerm. ARLI has launched this campaign in an exclusively digital format.The campaign consisting of four long-format films looking at the way in which Indians view life and death. They have partnered with stand-up comic Atul Khatri for this and the idea behind them is to get the audience who is aware of life insurance but not buying it, to start thinking about and considering the category

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