A presentation on Insurance sector advertisement in India

1. Insurance Sector
Advertising

2. Definition
Insurance
Risk-transfer mechanism that ensures full or partial financial
compensation for the loss or damage caused by event(s)
beyond the control of the insured party.
Under an insurance contract, a party (the insurer) indemnifies
the other party (the insured) against a specified amount of loss,
occurring from specified eventualities within a specified period,
provided a fee called premium is paid.
• http://www.businessdictionary.com/definition/insurance.html
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4. Definition
Insurance Advertising
Any advertisement intended to encourage persons or
company to buy insurance.
It can be accomplished by directly marketing insurance
products (for example over the Television), by encouraging
potential customers to become more willing to receive
sales calls (through direct mailers) or any number of other
method.
• http://financial-dictionary.thefreedictionary.com/Insurance+Advertising
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5. Definition
Insurance Advertising
Insurance advertising is the means of communicating
insurance product or service by underwriting company to
the users of that product or service. These
advertisements are paid.
• Source: The Economic Times
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6. History of Insurance in India
Year Event
• 1818 -- Oriental Life Insurance Co. was established in Calcutta.
• 1870 -- The first insurance company, Bombay Mutual Life Insurance Society, was formed.
• 1907 -- The Indian Mercantile Insurance Limited was formed.
• 1912 -- Life Insurance Companies Act and the Pension Fund Act of 1912
• 1938 -- The Insurance Act of 1938 was passed; there was state supervision to control frauds.
• 1956 -- The Central Government took over 245 Indian and foreign life insurers as well as
provident societies and nationalized these entities.
• 1965 -- The LIC Act of 1956 was passed.
• 1972 -- The General Insurance Business (Nationalization) Act was passed.
• 1991 -- Beginning of economic liberalization
• 1993 -- The Malhotra Committee was set up to complement the reforms initiated in financial sector.
• 2000 -- IRDA was incorporated as the statutory body to regulate and register private sector
insurance companies.
• 2005 -- Detariffication of marine hull
• 2006 -- Relaxation of foreign equity norms, thus facilitating the entry of new players
• 2007 -- Detariffication of all non-life insurance products except the auto third-party liability segment

7. Over the past two decades, insurance advertisements have
seen a gradual but drastic change in their approach
ranging from:
‘DEATH,
and insurance being a means to cope up.’
………to……..
‘Goals and admissions,
and insurance being a means to achieve them.’
(Like Tax Saving)
Insurance advertisement
THEN and NOW

8. Top insurers in India Today
Market share of major Life insurance companies
(in terms of total life insurance premium collected)
LIC is the market leader, with 72.7 per cent share in FY13, followed by ICICI
Prudential, with 4.7 per cent share.
Source: http://www.ibef.org/industry/insurance-sector-india.aspx

9. AWARENESS CAMPAIGNS BY TOP
INSURANCE COMPANIES - Today
1. Stimulating the need for insurance.
2. Backup for Family
3. Safety and assurance
4. Under insurance
5. Savings for old age
6. Financial Independence
7. Insurance as a Long Term Savings
8. Trust & Transparency
9. Long term planning

10. Case: Old Advt.

11. Mrs sharma ne pati ke moot k
bad b sare kaam sahi se kar die
Saari tayari to in ne pahle he kar
de the
Jeven beema Kara ke
Agar jevan bema na karaya
hota
To pata nahe aaj kya haal hota Mai to kehti hu sub ko jevan bema
kara lena chahie
LIC Jevan BEEMA
Case: Old Advt.

12. India First insurance Advt.
Aise he thoda thoda invest karte raho, Faida
zaroor hoga
Transition from OLD to NEW

13. Ye KILB Kya hota hai Kya pata bhayee Hum batate hai
KILB matlab Kam insurance lane ke beemari To ab kya kare
Mai batata hu
Call karo or apna sahi insurance
amount jani
Kam insurance na ka barabar hai

14. Tun jhadoo lagana bhooli to nahe Tum jaisa khana banaoge mai kha lunga Retire ho gaya hu. Paise bach jaige
Car bhi Suna, bate se har mahene thode paise maang late hai
Bilkul nahe zindagi me sir 1 baar manga
hai, tumhare baap se tumhara haath
Bhudape me ye din dhikane k lie? Nahe, tumhe singapore dikhane k lie

15. LIC jeevan Tarang
Case: New Advt.

16. IRDA on Insurance Advt.
• In 2012, IRDA gave regulations and guidelines on
following insurance ad:
• Print Ads
• Group Insurance Ads
• e-Insurance policy Ads
• Electronic Ads
• Telemarketer Script
• Special strictness on Ads through Brokers and
Reinsurers.
• All Terms and Conditions to be Mentioned and Dictated
in an understandable tempo.

17. Mr. Rajan Prasad
CEO - Hype Communication
Contact: rajan@hypecomn.com
Mobile: +91-98.104.11644
Head Office: L-II, 28-A, Basement, Kalka Ji, New delhi - 110 019.
Tel/Fax/email, Tel: +91-11-6461 1785;
Professional Interview

18. Interview – Email

19. Interview – Keypoints
• Insurance advertising is changing because mood of nation is
changing.
• People are now learning all diverse benefits of having an
insurance policy.
• Companies are now trying to portrait insurance product as a
general necessity, not a prices possession.
• Modes to buy insurance has increased, which is also a part of
insurance ad now.

20. Thank You !!
A presentation by-
Astha Prasad
Abhitanjay Chaudhary
Owais Ashraf