Following a & #BANNER1 & # multi-agency pitch, Oriental Insurance Company, one of the four companies under General Insurance Company of India, has empanelled three creative agencies for its creative duties. These are FCB-Ulka, Euro RSCG and Percept H. As a normal process, the PSU refreshes its list of empanelled agencies every three years.
Euro RSCG has already been among the empanelled agencies since 2004, and it has now been selected for the second time in a row.
A pitch for the business was called in August. The agencies were asked to submit a creative and strategy presentation. The brief given to the agencies was to take the brand forward, with the primary focus being on the household and medical policies offered by the insurance company.
Oriental Insurance started advertising aggressively since the last empanelment, which happened in 2004. Leo Burnett, Euro RSCG and Sobhagya were the three empanelled agencies then.
Sushant Panda, director, Euro RSCG, says, "Life insurance is considered essential and has been advertised by both the public sector as well as private sector players. But non-life insurance hasn't seen enough inputs in terms of marketing. Also, people aren't in a habit of investing for non-life insurance; the Mumbai floods in 2005 saw a large pay-out - our campaign focused on the technique of getting people to invest in non-life insurance, and increasing the value of the service in the consumer market."
Which agency is to handle which part of the business, and the creative and strategy of which agency will be finalised to take up as a part of the campaign that is to be aired, are still to be decided, but discussions are on.
The online duties have been awarded to Span Communications. The media duties will be handled by the media counterpart of the agency, the campaign of which is chosen finally. This would be MPG (Euro), Percept Media or Universal Lodestar (FCB-Ulka).
Oriental Insurance Company was incorporated in Mumbai in1947. The gross premium of the company stood at Rs 4,020 crore in 2006-07.