Wednesday 29 May 2013

Upping the emotional quotient

Vikrant Ramachandra, Vice President and Head of Brand Marketing, Tata AIA Life Insurance, says, “Research has suggested to us that in this category, a customer first buys into a Corporate Brand, along with the agent recommending, and finally an Insurance Product. Additionally, money in India is an emotional currency. All transactions are camouflaged in an emotion. At Tata AIA Life we have continually balanced the need of building its brand equity, in conjunction with appropriate product communication.”

Thus the brand has recently launched its third series of campaign based on the same brand philosophy of values and strong foundation. The brand seriously pursues the age old adage that it takes the right values to grow into a secure future. Explaining the rationale behind the campaign, Ramachandra says, “The new campaign continues to leverage a strong belief held dear at Tata AIA Life – if the foundations are strong, the future will be protected. It emanates from an insight that if the learning of tables at the early stages in life is sound, then taking a bash at CAT exams becomes easier.”

He also adds that changing values are an area of high concern in parenting. Based on that understanding Tata AIA Life encourages parents to concentrate on the basic values of life that stand in good stead in the long term. Thus, in a marked difference from other players that use the theme of ‘fear’ of losing, Tata AIA has surely tried to create a sentimental approach to the subject of life insurance.

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There is still a lot of speculation and confusion when it comes to purchasing life insurance products. In fact they are the last thing on a consumer’s wish list. Thus, it is important for players in this sector to create an emotional bond with consumers as the category is all about trust. Believing in this philosophy that trust is a necessity for the category, Tata AIA Life Insurance (earlier Tata AIG) is pursuing a communication and brand building initiative to strengthen its emotional connect with consumers. In its latest campaign the brand is all set teach a lesson or two to parents on bringing up their child on the right values.

Vikrant Ramachandra, Vice President and Head of Brand Marketing – TATA AIA Life Insurance
Upping the emotional quotient
Vikrant Ramachandra, Vice President and Head of Brand Marketing, Tata AIA Life Insurance, says, “Research has suggested to us that in this category, a customer first buys into a Corporate Brand, along with the agent recommending, and finally an Insurance Product. Additionally, money in India is an emotional currency. All transactions are camouflaged in an emotion. At Tata AIA Life we have continually balanced the need of building its brand equity, in conjunction with appropriate product communication.”
Thus the brand has recently launched its third series of campaign based on the same brand philosophy of values and strong foundation. The brand seriously pursues the age old adage that it takes the right values to grow into a secure future. Explaining the rationale behind the campaign, Ramachandra says, “The new campaign continues to leverage a strong belief held dear at Tata AIA Life – if the foundations are strong, the future will be protected. It emanates from an insight that if the learning of tables at the early stages in life is sound, then taking a bash at CAT exams becomes easier.”
He also adds that changing values are an area of high concern in parenting. Based on that understanding Tata AIA Life encourages parents to concentrate on the basic values of life that stand in good stead in the long term. Thus, in a marked difference from other players that use the theme of ‘fear’ of losing, Tata AIA has surely tried to create a sentimental approach to the subject of life insurance.
The campaign, created by Bates, will be supported by a multi-media, multi-touch-point communication program. One of the most important engagement programme for the company is the soon-to-be-introduced digital tablet-based sales management enabler, where a premier agent of Tata AIA Life will showcase the complete insurance cycle – from prospecting, to evaluating, recommending and policy issuance on a digital platform.

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