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STRATEGIES (INSURANCE

AMIT SINGH (64)

ØICICI prudential life insurance was incorporated on July
20,2000. With capital of Rs. 3800 million.

ØIt is a joint venture of icici (74%) and prudential uk

(26%).

ØIt commenced its operation on dec . 19, 2000 and

became one of the first few private sector player to enter
liberalized era
STRATEGIES
 The Marketing Challenge facing ICICI Pru:
The challenge therefore was to change
established category drivers (death payment &
tax saving) and to get the consumer to evaluate
insurance on a more emotional platform
(protection) rather than a mere rational decision
(tax savings).

 The Campaign Objectives:

A) Reposition the category in the consumer's
mind. Influence the consumer to view it as a
protection instrument and not a tax saving
product alone.
B) In the process, create differentiation for the
 STRATEGIES
 Understand needs of customer and offer superior product
and services.
 They wanted to build long term relationship with the
customers.

 Insurance being an unsought product so if we want to sell

policies it is very necessary to made them available,
awareness should be increased and for that promotion is
needed.

 successful communication was necessary so that they can

establish themselves as a trustful insurer because at that
insurance was treated as synonyms to lic .
PLANNING OF ICICI
PRUDENTIAL
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STRATEGIES
LIC was enjoying monopoly so it was very necessary for icici prudential
to establish and change mindset of people and also build trust .

 Deviated from usual ad strategies that other peer companies were

following of promoting product line.

 launched an ad campaign “ We cover you at every step in your life”

that highlighted their brand.

 HISTORICALLY print was traditional choice for medium of

advertisement .

 They Broke the tradition and came with ‘sindoorcampaign’ in 2001 that
means lasting symbol of protection. They were first to recognize the
power of television advertisement.
•launched second important campaign .

•This campaign was product specific with launch of chintamani

a clay animated character. It became mascot of middle class
house hold
name .

•It had a brand recall of 92% for this ad campaign next to LIC of
97% .

•Ad campaign discarded fear platform and choose happy

platform.

•ICICI PRU ‘retirement solution campaign was highest spending

CHANGING STRATEGIES
 Recent campaigns of ‘jeetay raho’ they became more rational rather
than emotive because other category is no longer new .
 Their target customers were in the age group of 30-40 years.

 Channels they were focusing were star, zee and Sony tv.

 ICICI PRUDENTIAL was run on tv. With emotional type of films

strike chord with audience.

 They were also providing product information through print and

outdoor channels.

 Through their advertisement strategies they established themselves

as market leader in private players and now as they are in
expansion mode their ad is more focusing on features of product
and benefits to customers.
Jeetey raho”, blesses our woman jokingly. The ad ends as the VO
plays, “ICICI Prudential Life Insurance. Jeetey Raho
Retirement solutions. ICICI Prudential Life Insurance ki
aur se. Retirement sirf kaam se."
tata
Tata AIG Life ka Invest Assure Flexi
  
STARTEGY OF TATA AIG
INSURANCE
AD SHOWS LONG TERM
ASSOCIATION
 Max New York Life
Insurance
 Itnow has 35 products covering
both life and health insurance
enabling customers to choose the
policy that best fits their need.
Besides this, the company offers 6
products and 4 riders in group
insurance business. 
The company currently has more
than 15,627 employees.
 The company has positioned itself on
the quality platform. In line with
its vision to be the Most Admired
Life Insurance Company in India
It has developed a strong corporate
governance model based on the core
values of excellence, honesty,
knowledge, caring, integrity and
teamwork.
The strategy is to establish itself as
a Trusted Life Insurance
Millionwishes come to life
We are Max New York Life
Insurance
What’s your WISH?
 Factors depending upon
Advertisement Strategies

Reputation it has in the market.

Market share.
Reputation

They started operations in

December 2000.
ICICI Prudential is the first life insurer
in India to receive a National Insurer
Financial Strength rating of AAA.
Started operations on April 1,
2001.
Tata AIG changes tune; will cover
terror victims
Max New York Life started
commercial operation in 2001.
Stood at 7th position overall India.
Market Share
How relevant were these
ads:
 Whether customers switches over
to another product from what they
are using?