SBI Life has appointed Mullen Lintas as their creative agency and Mindshare as their Media agency, following a closely contested multi-agency pitch.
Ravindra Sharma, SVP, Chief of Brand & Corporate Communication, SBI Life, said, “The strategic thought process and approach presented by Mullen Lintas and Mindshare aligned with our brand ethos reinforcing our confidence to bring them on board. We look forward to seeing both agencies jointly deliver on developing a unique refreshed communication for SBI Life, which will create a deeper emotional connection with our consumer.”
Amer Jaleel, Chairman, Mullen Lintas, said, “SBI Life is one of the largest Life Insurance players in the category and it feels like an organisation with a real belief in brand creation and consumer connect. The brand has created some really memorable work in the past which we hope we can build on to take the brand higher. I have a lot of fond memories of working at Lowe with Balki on the category and am really excited for this new journey.”
Commenting on this, Prasanth Kumar, CEO, Mindshare, South Asia, MENA and Africa, said, “We appreciate the renewed opportunity by SBI Life as we now look forward to strengthening our delivery across brand strategy coupled with insightful data, engaging content and innovations to contribute to the brand's success."
In 2017-18, India’s domestic life insurance industry registered 10.99 per cent (YoY) growth for new business premium, generating a revenue of Rs 1.94 trillion (US$ 30.1 billion). With 57 players, the overall insurance sector in India is one of the most competitive globally. The need for brands to establish a differentiator and a deep emotional connection with consumers is ever so more, given the limited scope for product differentiation. In this context, the roles of creative and media agencies are crucial for brands to reach out to the right target audience with the right message.